FSA Publishes Draft Revisions to Banking Agency Supervision Guidelines

The Financial Services Agency published draft revisions to its supervision guidelines covering services provided by banks and others in cooperation with other businesses through APIs and similar means. The central points are measures needed to prevent users from misunderstanding who provides the service or what it entails, and clarification of whether the actions of cooperating businesses constitute intermediation as part of banking agency business.

For banks and other institutions and their cooperating businesses, the draft revisions will clarify the measures to prevent users from misunderstanding services using APIs and similar technologies, as well as whether actions by other businesses constitute banking agency business (intermediation). The Financial Services Agency is advancing revisions to its supervision guidelines to clarify these matters.

The revisions cover supervision guidelines for major banks and similar institutions, small and regional financial institutions, financial institutions in cooperative systems, fisheries cooperative credit businesses, and financial services intermediaries. Specific details are shown in the comparative tables of the old and new provisions in Appendices 1 through 5. Comments must include the submitter's name, occupation, contact information, and reasons, and may be submitted by mail or online; comments will not be accepted by telephone. The submitter's name may be disclosed together with the comment contents upon a disclosure request, but a request for anonymity may be stated at the beginning. Personal information and other details may be redacted as necessary, and individual responses will not be provided.