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Outline of Procedures concerning Changes in Names and Other Matters for Financial Institutions after Their Approval as a Foreign Indirect Participant

June 30, 2017

This document outlines procedures to be followed by Foreign Indirect Participants (hereinafter referred to as "FIP") of the JGB Book-Entry System when contacting the Bank of Japan (hereinafter referred to as "the Bank") regarding the following.

The Bank can provide a sample of a Letter of Intent and/or a notification form for the above procedures.

(Note) For the requirements of "Documents certifying the power (capacity) and the signature of the authorized signatory" and "Commercial Register or a copy thereof, or any document similar thereto" in the following tables, please refer to the "Application Procedures for an Applicant Seeking Approval as an FIP in the JGB Book-Entry System ".

Applying for approval to change an FIP's Designated Participant

Items Procedures
Details of application Approval to change an FIP's "Designated Participant" (i.e., adding a new Designated Participant and/or canceling its current Designated Participant)
- A "Designated Participant" is a Direct Participant, an Indirect Participant, or an FIP, any of whom has established a Customer's Account for the FIP and is designated by the Bank.
Applicable rules Item 11, Article 2 and Article 15 of the "Bank of Japan Regulations concerning the JGB Book-Entry System" (hereinafter referred to as the "Regulations")
Deadline for submission Documents should be submitted well before the day on which the FIP wishes to change its Designated Participant.
Documents to be submitted In the case of an FIP applying for the Bank's approval of a new Designated Participant, a document indicating the operational flow of transfer instructions/confirmation messages for Book-Entry JGS transactions between the FIP and the Participant with whom the FIP wishes its Customer's Account to be established.
A Letter of Intent, signed by the authorized signatory of the FIP, requesting the Bank's approval to change its Designated Participant.
Documents certifying the power (capacity) and the signature of the authorized signatory who signed the Letter of Intent above.
How to submit documents Please submit the documents to the Bank via the FIP's Contact Person in Japan.
Notes - According to Paragraph 1, Article 15 of the Regulations, in order to approve the applicant as an FIP, the Bank requires an applicant, among other things, to establish a Customer's Account with a Participant designated by the Bank. Similarly, when the FIP wishes to change its Designated Participant, the new Designated Participant must be designated by the Bank and/or the designation of the current Designated Participant must be cancelled.
- If the FIP applies to the Bank to cancel the current designation of a Designated Participant and to close its Customer's Account established with the Designated Participant, the FIP must, before closing such an account, complete procedures to transfer all Book-Entry JGSs from the Customer's Account established with the Designated Participant to other Participants' Customers' Accounts.
- The Bank will, when a Designated Participant of an FIP is changed, notify all Direct Participants of the name of the Designated Participant concerned. If the Designated Participant concerned is an Indirect Participant or an FIP, the Bank will also notify the Indirect Participant or the FIP.
- For notifications concerning changes in the registered information of an FIP who is a Qualified Foreign Intermediary (QFI), please also contact the National Tax Agency.

Requesting cancellation of approval to act as an FIP

Items Procedures
Details of request Cancellation of approval to act as an FIP (this could be due, for example, to transfer of custody business to other entities by an FIP).
Applicable rules Article 18 of the "Bank of Japan Regulations concerning the JGB Book-Entry System" (hereinafter referred to as the "Regulations")
Deadline for submission Documents should be submitted, at the latest, one month prior to the day on which an FIP wishes the Bank to cancel its approval to act as an FIP.
Documents to be submitted A notification form signed by the authorized signatory of the FIP requesting the cancellation of approval to act as an FIP.
Documents certifying the power (capacity) and the signature of the authorized signatory who signed the notification form above.
How to submit documents Please submit the documents to the Bank via the FIP's Contact Person in Japan.
Notes - According to Paragraph 5, Article 18 of the Regulations, an FIP who wishes the Bank to cancel its approval to act as an FIP must, before cancellation, complete procedures to transfer all Book-Entry JGSs from its Customers' Account to other Participants' Customers' Accounts.
- After completing the necessary procedures for cancellation of its approval, the Bank will notify the FIP of the date of its cancellation. The Bank will then notify all Direct Participants of the name of the FIP concerned and the date of the cancellation. If a Designated Participant of the FIP is an Indirect Participant or an FIP, the Bank will also notify the Indirect Participant or the FIP.
- For notifications concerning changes in an FIP's information registered as an Account Management Institution, please also contact the competent ministries of Japan, and in the case of an FIP who is a Qualified Foreign Intermediary (QFI), please also contact the National Tax Agency.

Notifying the Bank of changes to an FIP's name, head office address, and/or Contact Person in Japan

Items Procedures
Details of notification - A change to an FIP's name and/or head office address.
- A change to its Contact Person in Japan.
Applicable rules Article 17 of the "Bank of Japan Regulations concerning the JGB Book-Entry System"
Article 8 of the "Rules concerning the JGB Book-Entry System"
Deadline for submission Documents should be submitted well in advance of the changes.
If the name or the head office address of an FIP has already been changed, notification must be made immediately.
Documents to be submitted A notification form signed by the authorized signatory of the FIP, stating the change to the FIP's name, head office address, or Contact Person in Japan.
In the case of a change to the name or head office address, a Commercial Register or a copy thereof, or any document similar thereto that states the change of name or head office address.
Documents certifying the power (capacity) and the signature of the authorized signatory who signed the notification form above.
How to submit documents Please submit the documents to the Bank via the FIP's Contact Person in Japan.
Notes - In the case of a change to an FIP's corporate entity (i.e., not just a change in its name or address, but involving merger or business transfer, etc.), the FIP must follow different procedures. In such a case, please contact the Bank for details.

- When there is a change to the name of an FIP, the Bank will notify all Direct Participants of the change. If a Designated Participant of the FIP is an Indirect Participant or an FIP, the Bank will also notify the Indirect Participant or the FIP.

- For notifications concerning changes in an FIP's information registered as an Account Management Institution, please also contact the competent ministries of Japan, and in the case of an FIP who is a Qualified Foreign Intermediary (QFI), please also contact the National Tax Agency.

Inquiries

Banking and Government Securities Planning Group, Planning and Coordination Division, Operations Department

E-mail : post.fip@boj.or.jp