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The Japan Bank for
International Cooperation (国際協力銀行; Kokusai Kyōryoku Ginkou), also known by
its acronym, JBIC, is a Japanese public financial institution and export
credit agency, and was created on October 1, 1999, through the merging of
the Japan Export-Import Bank (JEXIM) and the Overseas Economic Cooperation
Fund (OECF). JBIC is the international wing of
Japan Finance
Corporation (JFC), a policy-based financial institution of Japan, and
conducts lending, investment and guarantee operations while complementing
the private sector financial institutions.
The bank is wholly owned by
the Japanese government, and its budget and operations are regulated by the
JBIC law. It is headquartered in Tokyo and operates in 18 countries with 21
offices. The main purpose of the institution is to promote economic
cooperation between Japan and oversea countries, by providing resources to
foreign investments and by fostering international commerce.
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In Japan, the
Financial Services Agency (金融庁, Kin'yūchō) is responsible for overseeing banking services in order to
ensure the stability of the financial system of Japan.
Bank of
Japan (BOJ) is
not a regulatory authority under the Banking Act, but it conducts
on-site examinations in order to maintain a safe and sound financial
system. These examinations are based on bilateral agreements between the
BOJ
and financial institutions that have current accounts with it under the
Bank of Japan Act. |