EUROCLEAR Bank, the international central securities depository, has been granted a licence from Japan's Financial Services Agency (FSA) to establish a foreign bank branch under the Japan Banking Act.

Euroclear Bank Japan Branch also expects to gain FSA approval by mid-December to engage in Foreign Bank Agency Business (FBAB), acting as an intermediary for Euroclear Bank SA/NV headquarters in Brussels.

This will allow Euroclear Bank Japan Branch to further enhance the way it supports Japanese customers. Since 1987, Euroclear has operated a representative office in Tokyo to support Japan-based users of its securities settlement system.

Valerie Urbain, CEO of Euroclear Bank, says, “We are strengthening our capabilities in Japan to provide a more convenient and comprehensive service to our clients and help them conduct their business more efficiently. This reflects our deep commitment to the Japanese market and our confidence in the expansion of our business opportunities in Asia-Pacific as the securities financing market matures.”