On December 21, 2007, the Financial Services Agency (FSA) issued the Plan for Strengthening Competitiveness of Japan’s Financial and Capital Markets, and JBA released the Chairman’s comments regarding the Plan on the same day.
Today, the FSA released the Plan for Strengthening Competitiveness of Japan’s Financial and Capital Markets, which describes measures to further develop Japan’s financial and capital markets. There has recently been an intensification in the international competition between financial markets, and the needs of customers for financial products/services has made more sophisticated, complex and global. In this regard, the timing of the Plan is exemplary.
JBA is tackling two tasks this fiscal year. We are taking steps to ensure safety and confidence in financial services, and invigorating financial and capital markets to strengthen our competitiveness. The Plan will contribute to invigorating Japanese financial and capital markets, raise customer benefits and strengthen the international competitiveness of Japanese financial institutions. JBA will do its best to meet financial needs of customers through further innovation in the financial and capital markets that are being created via the Plan.
I would like to pay tribute to all parties concerned for their efforts so far, and look forward to the continued deliberations on invigorating Japanese financial and capital markets and strengthening competitiveness and affirming these goals.