Minutes of the 247th Policy Board Meeting of the DICJ

Date of resolution: December 24, 2014 (Wednesday), on a round-robin basis

Resolution

1. Conclusion of the agreement with the Resolution and Collection Corporation on the resolution and collection businesses

  • Following the passage of Amendment Act of Financial Instruments and Exchange Act, etc. in June 2013 which included partial amendment of Financial Instruments and Exchange Act, Deposit Insurance Act, etc., measures for orderly resolution of financial institutions were introduced in Deposit Insurance Act.
    As a result of the amendment this time, the rules concerning operations of the Contracted Bank were also established. Therefore, it was explained to the Policy Board members and temporary members through visits to them or other means that, due to the amendment, necessary revision to “the agreement on the resolution and collection businesses” between the DICJ and the Resolution and Collection Corporation would be made and that the new agreement would be concluded. At the same time, it was explained to them that the expected date of its enforcement was January 15, 2015 after authorization by the Commissioner of Financial Services Agency and the Minister of Finance.
  • Regarding “Resolution (proposal) 1,” deliberations were conducted after questions and opinions were solicited from the Policy Board members and temporary members on a round-robin basis, and this was resolved as proposed.

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