FRSGlobal Incorporates Regulatory Reporting for Foreign Banks in Japan

FRSGlobal, part of Wolters Kluwer Financial Services, has incorporated regulatory and legal reporting into its regulatory reporting solution for foreign banks in Japan. Three major global banking groups, including ANZ, have subscribed to this solution as part of their multi-regulatory reporting frameworks.

The application automatically extracts the required data from the firm and populates:

• Gyomu/Kessan/Nikkeihyo reports: annual/semi-annual/month-end financial statements consisting of balance sheet, income statement and various breakdown schedules on key balance sheet and profit and loss (P&L) items.
• Daily projected and month-end regulatory deposit reserve computation.
• Various foreign exchange (FX) transactional reports: based on securities, gensaki repo, stock lending and borrowing, derivatives, traveller’s cheques and foreign currency cash, etc.
• Various risk analysis reports: covering interest rate risk, repricing gap, large borrowers and depositors, foreign exchange positions, short term source and the application of fund, country risk exposure reports, etc.
• Custodian reports: covering either the bank’s own securities under custody or the client’s securities under custody.

Stephen Thurley, vice president for Asia-Pacific and Japan at FRSGlobal, said: “The regulatory reporting framework in Japan is notoriously difficult to manage from a foreign bank’s perspective so we are very pleased that we can provide a fully functional reporting solution that addresses this market’s specific pain points. With an established team and on-the-ground support we are able to provide an ongoing commitment to help our customers keep the regulatory reports in the countries we support up-to-date. We look forward to seeing further growth in this territory.”

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