(Tentative translation)

Cross-Industry Committee on Japanese Yen Interest Rate Benchmarks

Minutes for the January 31, 2020 Meeting

(by written resolution)

The Secretariat informed the Committee that the Alternative Reference Rates Committee (ARRC) in the United States released "Recommendations for Interdealer Cross-Currency Swap Market Conventions" on January 24, 2020.

Note: The final recommendations, which were developed by the Cross-Currency Basis Swap Subgroup of the ARRC, outlined the market conventions for cross-currency swaps using risk-free rates in interdealer transactions. Members of the Working Group on Currency Swaps under the Committee participated in the subgroup's discussions and expressed opinions as necessary.

1

Cross-Industry Committee on Japanese Yen Interest Rate Benchmarks

Attendance for the January 31, 2020 Meeting

(Members)

Chair

MUFG Bank

MATSUURA Taro

Vice Chair

Nomura Securities

NONOMURA Shigeru

Mizuho Bank

KOBAYAKAWA Motomu

Sumitomo Mitsui Banking Corporation

ORIHARA Takashi

Bank of Yokohama

ARAI Tomoki

The Ehime Bank

IYODA Seiji

Deutsche Bank

MORITA Shigeki

Daiwa Securities

INADA Yuichiro

Goldman Sachs

TAGUCHI Kengo

Morgan Stanley MUFG Securities

EZUKA Takeshi

Japan Post Bank

ICHIKAWA Tatsuo

The Norinchukin Bank

NAGATA Shirou

Shinkin Central Bank

TANAKA Hiroyuki

Nippon Life Insurance Company

OKAMOTO Shinichi

Tokio Marine Holdings

NIKKAWA Shinya

Daiwa Asset Management

KOMIYA Tsutomu

Marubeni Corporation

OGURA Yasuhiko

Mitsui Fudosan

TOGASHI Retsu

East Japan Railway Company

ITO Atsuko

Mitsubishi UFJ Lease & Finance

TOMINAGA Osamu

Nippon Telegraph

and

Telephone

HIROI Takashi

Corporation

(Observers)

JBA TIBOR Administration

SERA Yuichi

International Swaps

and

Derivatives

MORITA Tomoko

Association

Financial Law Board

TOTSUKA Takaharu

(Attorney-at-Law)

Tokyo Financial Exchange

SEO Ryosuke

Japan Securities Clearing Corporation

KANEKO Takahiko

Japanese Bankers Association

KOYAMA Hirotaka

Japan Securities Dealers Association

MATSUNAGA Hideaki

Financial Services Agency

AOSAKI Minoru

Bank of Japan

OOTAKE Hiroki

Bank of Japan

SHIOZAWA Hiroyuki

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Bank of Japan published this content on 21 February 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 February 2020 07:11:04 UTC