European Banking Association

IFC

• Has been promoting covered bonds issued by the Association's member banks for ten years
• Established the Association's Tokyo liaison office and has been serving as its Tokyo representative for over a decade
• Implemented government relations and IR activities to lead opinion about covered bonds
• Lobbied to launch a covered bond market in Japan
• Did IR, seminars, presentations, and PR targeting over 800 institutional investors
• Developed strong relations with financial authorities, other banks, and relevant associations in support of its lobbying activities
• Negotiated with the FSA to gain approval for member banks to operate in Japan and lobbied for broader interpretation of “banking business” under the Japanese Banking Act
• Successfully promoted Pfandbrief to the BoJ, MoF, Yucho Bank, and the Government Pension Investment Fund

As a result, the association

• Saw the share of Japanese investors in global jumbo issues for member banks increase
• Got METI, FSA, MIC, and MoJ to study establishing a Japanese covered bond market patterned after that in the U.S.
• Successfully negotiated with the FSA for member banks entering Japanese market

and the member banks

• Advised business entities on entering the Japanese market
• Attracted institutional investors, pension funds, and government and quasi-government investment funds to their new issues
• Developed and implemented specific IR programs