Good evening, everyone. My name is Toshihide Endo. I am the commissioner of the Financial Services Agency of Japan, the JFSA. It is my great pleasure to speak in front of you today. Also, I would like to thank the International Banking Association of Japan for having me as a speaker for its 34th Annual General Meeting. I really appreciate this opportunity to present the JFSA’s recent policy developments.
About two decades ago, the JFSA was established. At that time, our main focus was to tackle the non-performing loans problem, in other words, to secure financial stability on the verge of a financial crisis. With tremendous efforts over a long period of time, we were able to finally solve this problem. But now we face new risks and opportunities such as long-lasting low economic growth, aging, digitalization, globalization and issues like sustainable development. To deal with those, we must establish new forms of financial supervision to seek the best balance of financial stability and excellent financial intermediation while avoiding various risks. With such new supervision, by enhancing growth of the Japanese economy and by steadily expanding Japan’s household assets, we will aim to maximize welfare of the Japanese people.
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