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Banking Business and Fund Transfer Transactions: Scope of Bank Regulation (Report of Workshops (2))

Author

Listed:
  • Kazutoshi Sugimura

    (Bank of Japan)

  • Masaru Itatani

    (Bank of Japan)

  • Masaki Bessho

    (Bank of Japan)

Abstract

In Japan, performing fund transfer transactions without a license or registration is subject to criminal sanctions. As the interpretation of the definition of fund transfer transactions has not been clearly established, there may be chilling effects on the development of innovative settlement and payment services. The Report of the Workshops on "Contemporary Financial Transactions and Their Regulatory Treatment" (2016) (the "Report") reviews the intent and purpose of bank regulation, and suggests an approach to determining whether or not a transaction constitutes a fund transfer transaction by properly interpreting its definition, using a collection agency service as a point of reference for legal analysis. The Report also provides a perspective for further discussion on how to implement new legislation with respect to the regulation of fund transfer transactions.

Suggested Citation

  • Kazutoshi Sugimura & Masaru Itatani & Masaki Bessho, 2017. "Banking Business and Fund Transfer Transactions: Scope of Bank Regulation (Report of Workshops (2))," Bank of Japan Research Laboratory Series 17-E-2, Bank of Japan.
    • Handle: RePEc:boj:bojlab:lab17e02
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    More about this item

    Keywords

    Bank regulation; Fund Transfer Transactions; Collection agency;
    All these keywords.

    JEL classification:

    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • K23 - Law and Economics - - Regulation and Business Law - - - Regulated Industries and Administrative Law

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