Japan struggles with pillar 2

Basel II

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The Japanese banking sector seems, in recent years, to have shed its image as an industry mired in scandals, widespread bad loans and poor risk management. As part of the government's effort on structural reforms, Japan has promoted the principle of self-responsibility and market discipline in banks since the establishment of the Financial Supervisory Agency (FSA) in June 1998 as an integrated financial sector regulator.

Before that, banks had been supervised by the Ministry of Finance (MoF).

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