On July 14th, Reiwa 5 (2023), Mr. Kaya Temochi, Director of the Toyama Financial Office of the Hokuriku Finance Bureau, and Mr. Hisayoshi Yoshihama, Director of the Kanazawa Branch of the Bank of Japan, announced financial measures in response to the disasters caused by heavy rainfall since July 7th, Reiwa 5 (2023).
The measures are aimed at the victims and areas in Toyama Prefecture where the Disaster Relief Act has been applied. Financial institutions handling deposits, securities companies, life insurance companies, non-life insurance companies, small short-term insurance providers, and electronic bond record-keeping agencies have been requested to appropriately implement the following financial measures in accordance with the situation.
In addition, it has been requested that similar financial measures be implemented promptly if the areas where the Disaster Relief Act is applied are expanded in the future.
- Request to Depository Financial Institutions:
- Even in the case of lost deposit certificates or passbooks, confirm the depositor’s identity based on the situation of the victims and proceed with the refund.
- Accept thumbprints in the absence of registered seals.
- Consider early repayment of time deposits and fixed-term savings in certain situations. Provide loans secured by such deposits.
- Allow discussions with relevant financial institutions for the collection of overdue promissory notes due to the impact of the current disaster.
- Show consideration for non-payment reports and trading suspensions for checks and promissory notes that cannot be paid due to the current disaster. Also, consider the suspension of electronic recorded debt transactions or the termination of usage contracts.
- Request to Securities Companies:
- Even in the case of lost registered seals, confirm the person’s identity based on the situation of the victims and proceed with the refund.
- Provide assistance in the procedures for reissuing lost securities.
- Make every effort to refund the proceeds from the sale or redemption of entrusted securities on the same day if requested by the victims.
- Implement store displays and widespread notification to customers regarding the above measures.
- Promptly post the names of branches that are suspended from business operations and the names of branches where cash dispensers will continue to operate. Notify customers through newspapers and the internet.
- Request to Life Insurance Companies, Non-Life Insurance Companies, and Small Short-Term Insurance Providers:
- Provide necessary assistance and convenience measures, such as issuing insurance claims instructions to policyholders who have lost insurance certificates or registered seals, if the content of the insurance contract can be confirmed.
- Make payments of life insurance benefits or non-life insurance claims as quickly as possible.
- Consider extending grace periods for the payment of life insurance premiums or non-life insurance premiums based on the situation of the victims.
- Implement store displays and widespread notification to policyholders regarding the above measures.
- Promptly post the names of branches that are suspended from business operations. Notify customers through newspapers and the internet.
- Request to Electronic Bond Record-Keeping Agencies:
- Show consideration for measures such as suspending transactions or terminating usage contracts for victims’ electronic recorded debts.
- Show appropriate consideration for holiday operations or business hours.
- Implement store displays at relevant branches.
- Promptly post the names of branches that are suspended from business operations and notify customers through newspapers and the internet.
For inquiries related to this matter, please contact the Wealth Management Division of the Toyama Financial Office, Hokuriku Finance Bureau, at 076-432-5523 or the Sales Division of the Kanazawa Branch of the Bank of Japan at 076-223-9514.
These measures aim to ensure that financial institutions provide appropriate support and assistance to the victims affected by the disasters and facilitate their financial recovery.