Japan delays cross-border rules amid US and European uncertainty

masamichi-kono
Masamichi Kono, JFSA

Japan is delaying its cross-border clearing rules to avoid adding to the "tremendous uncertainty" created by US and Europe over this issue, according to Masamichi Kono, vice-commissioner for international affairs at the Japan Financial Services Agency (JFSA).

The JFSA wants to establish its own set of cross-border rules, and to extend clearing beyond the current interest rate swap and credit default swap remit, but is conscious of inconsistencies in the approaches of global regulators, says Kono

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