The Bank of Japan's Capital Subscription to the Japan Financial Literacy and Education Corporation
The Bank of Japan applied on February 19, 2024 to the initiators of the Japan Financial Literacy and Education Corporation (J-FLEC) to make a capital subscription of 25 million yen to J-FLEC, after obtaining authorization from the Minister of Finance and the Commissioner of the Financial Services Agency in accordance with Article 43, paragraph 1 of the Bank of Japan Act. The establishment of J-FLEC was authorized on February 29.
Upon transferring the functions of the Central Council for Financial Services Information (CCFSI) -- of which the Bank has served as the secretariat -- to J-FLEC, the above subscription is to be made in accordance with the decision at the regular Policy Board meeting held on February 9, from the perspective of contributing to price stability and the maintenance of stability of the financial system, as necessary support for the transfer and succession of financial and economic education, as well as research activities among others, that has been conducted by CCFSI.
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