BoJ unveils policy for oversight of market infrastructure
The Bank of Japan (BoJ) today unveiled its three-phase oversight policy for financial market infrastructures (FMIs).
Under the Bank of Japan Act, the BoJ is responsible for ensuring the "smooth settlement of funds among banks and other financial institutions", and the bulk of the BoJ's supervision targets payment systems, securities settlement systems, central counterparties (CCPs) and trade repositories.
The BoJ's new policy, which takes effect from April 1, dictates that oversight is to be
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