Japan’s Financial Services Agency (FSA) and the National Bank of Belgium (NBB) have signed an agreement to enhance cooperation in the area of banking supervision.

Under the agreement, the two parties will notify each other of material supervisory concern and supervisory action and cooperate in the event of suspected activities or financial transactions being detected.

The regulators will also notify each other of plans to visit the banks in the other jurisdiction and may also inform each other on request of the arrangements for crisis management.   

The two regulators will preserve the confidentiality of the information shared as part of the agreement.

The latest deal comes on the heels of a cooperation agreement signed between FSA and the UK’s Financial Conduct Authority.

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By GlobalData