Authorized Foreign Exchange Bank (gaikoku kawase kouningin ko)

Japanese: 外国為替公認銀行 - がいこくかわせこうにんぎんこう（英語表記）authorized foreign exchange bank

A bank that engages in foreign exchange transactions with government authorization. Generally known as an exchange bank or foreign exchange bank. Banks that could engage in foreign exchange business were limited to two types: banks authorized under the Foreign Exchange and Foreign Trade Control Act (Foreign Exchange Act) (authorized foreign exchange banks) and specialized foreign exchange banks licensed under the Foreign Exchange Bank Act (Bank of Tokyo). However, following the passage of the Financial System Reform Act in 1992, the Bank of Tokyo merged with Mitsubishi Bank in 1996 and became an ordinary bank, and specialized foreign exchange banks disappeared. The Foreign Exchange Act was also revised in 1998, and the authorized foreign exchange bank system was abolished. The foreign exchange bank principle, which concentrated foreign transactions only in banks authorized by the government, was abolished, and foreign exchange business was liberalized.

Source: Encyclopaedia Britannica Concise Encyclopedia About Encyclopaedia Britannica Concise Encyclopedia Information

Japanese:

政府の認可を受けて外国為替取引に従事する銀行。一般に為替銀行あるいは為銀 (ためぎん) と呼ばれる。外国為替業務に従事できる銀行は外国為替及び外国貿易管理法 (外為法) の認可を受けた銀行 (外国為替公認銀行) および外国為替銀行法の免許を受けた外国為替専門銀行 (東京銀行) の2種類に限られていた。しかし 92年金融制度改革関係法の成立に伴い，96年東京銀行は三菱銀行と合併し普通銀行に転換，外国為替専門銀行はなくなった。また 98年に外為法が改正され外国為替公認銀行制度はすべて廃止。政府が公認した銀行にのみ対外取引を集中させる為銀主義は撤廃，外国為替業務は自由化された。

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