Financial Supervisory Agency

Japanese: 金融監督庁 - きんゆうかんとくちょう

The former name of the agency. Established in June 1998 as an external bureau of the Prime Minister's Office. In December of the same year, the Financial Reconstruction Commission was established as an external bureau of the Prime Minister's Office, and the agency was placed under it. The first director-general was Masaharu Hino. The agency was established by separating and making independent the Securities and Exchange Surveillance Commission and the inspection and supervision functions of the Ministry of Finance's financial administration, and initially had about 400 staff members. In addition, staff from the Ministry of Finance's Local Finance Bureau also inspect and supervise local financial institutions under the direction of the Supervisory Agency Director-General. Amid growing criticism of the Ministry of Finance over the "Jusen Problem" and the handling of failed financial institutions, a Ministry of Finance Reform Project Team was formed by the three ruling parties in February 1996, and the Financial Supervisory Agency Establishment Act was passed in the Diet in June 1997. The establishment of the Financial Supervisory Agency was intended to shift from the previous "convoy system" to a post-inspection type of administration that prioritizes market principles. In July 2000, ahead of the reorganization of central government ministries and agencies, the Financial Services Agency was established by merging the Financial Planning Bureau of the Ministry of Finance and the Financial Reconstruction Commission in January 2001, and the FSA came under the umbrella of the newly established Cabinet Office.
→ Related topics Banking Act | Financial Reconstruction Commission | Early corrective measures | Nippon Credit Bank [Stock] | Bankrupt financial institutions | Fukutoku Bank [Stock]

Source : Heibonsha Encyclopedia About MyPedia Information

Japanese:

旧庁名。総理府の外局として1998年６月設置。同年12月に総理府外局として金融再生委員会が設置され，その下に置かれる形に変更された。初代長官日野正晴。大蔵省の金融行政のうち，証券取引等監視委員会や検査，監督機能を分離，独立させたもので，本庁の人員は当初約400人。他に大蔵省地方財務局の職員も監督庁長官の指揮で地方金融機関を検査，監督する。〈住専問題〉や経営破綻した金融機関の処理をめぐって大蔵省批判が高まるなか，1996年２月与党３党による大蔵省改革プロジェクトチームが発足，1997年６月金融監督庁設置法が国会で成立。金融監督庁の設置はこれまでの〈護送船団方式〉から市場原理を優先する事後点検型行政への転換を企図したものである。2000年７月，中央省庁再編に先駆けて，本庁と大蔵省の金融企画局を統合して金融庁が発足，2001年１月には金融再生委員会もここに統合され，金融庁は新設の内閣府に属することになった。
→関連項目銀行法｜金融再生委員会｜早期是正措置｜日本債券信用銀行［株］｜破綻金融機関｜福徳銀行［株］

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