On March 31, the First Subgroup (Subgroup leader: Professor Yoshinori Shimizu, Graduate School of Commerce and Management, Hitotsubashi University) of the Study Group on the Financial System (established by JBA and headed by Professor Keimei Kaizuka, Professor Emeritus at the University of Tokyo and Director of the Center for Advanced Research in Finance) compiled recommendations regarding universal financial services for invigorating the financial markets.
The recommendations first summarized the purpose and progress of the release, “Road Map to Enhance the International Competitiveness of the Japanese Financial Industry,” made by the Study Group in October 2007. It then makes specific recommendations regarding measures for providing universal financial services, ensuring comprehensive and dedicated activities for realizing better regulations and strengthening autonomous and independent activities by banks as topics to be addressed in the future.