On April 25, JBA released a report finalized by the Study Group on the Claim Law concerning Banking Transactions.
The Study Group was established one year ago in preparation for a discussion on the ensuing full-scale fundamental overhaul of the claim law. The Group members consist of outside experts and bank staff in charge of legal matters and it aims to select banking issues prior to reviewing the law, analyze problems and conduct necessary studies.
The report describes discussions in the Study Group on five legal matters that are deeply related to banking transactions, such as the right of avoidance, guarantee and assignment of claims.