2006/12/07(Thu)
12月5日に発表された年次改革要望書には、日本の郵貯問題について、どう書かれていたのか、ざっとみてみると。
何しろ、大部なので、はしょり気味にはなるがお許しを。
郵貯問題は、おおむね次の箇所で扱われている。
１．8ページの「PRIVATIZATION」「 RECOMMENDATION HIGHLIGHTS Level Playing Field - Savings and Insurance:」
2．30ページからの「COMPETITION POLICY
I. Improving Antimonopoly Compliance and Deterrence」において、31ページの「G.」
3．39ページから始まる「Annex - 31」の「III. Policyholder Protection Corporation (PPC).」
4．41ページから44ページにかけて、「Annex - 33」の「PRIVATIZATION」の「II. Japan Post」
以上の4カ所において述べられている。
まず、1．においては、
「日本の郵貯改革については、アメリカとしても、大きな関心を抱いていた。」
として、
「これらの改革が、マーケットオリエンテッド(市場志向)な形で進められれば、日本の経済にとって、潜在的な力になるであろう。」
とし、
「これらの進められ方については、透明性が求められ、かつ、他の競争相手の銀行業務の民間部門と、最高レベルのプレイイングフィールド(競争の場)になることが不可欠であると思っている。」
としている。
そのためには、
「郵貯は、民間の競争相手と、同じ税制、法的規制、監査水準のもとに、おかれるべきである。」
としている。
2．においては、民営化後の郵貯が
「競争阻害行為をしないようにすることが必要である。」
としている。
3．においては、
「もし、日本が、郵貯ファンドを元にしての、アメリカのPolicyholder Protection Corporation (PPC)のシステムに習いたいのであれば、歓迎をするし、そのためには、法制度の備えが必要だ。」
としている。
4．においては、
「郵貯改革後に必要なのは、他の金融業務との対等な競争関係を生み出しうる諸制度の改正と用意である。」
とし、そのためには、
「政府保証の伴うものはなくし、民間企業と同一の税制、諸規制などの下での、競争がされることが必要である。」
とし、それには、
「新郵貯は、アームス・レングス・ルール（arm’s length rule）(情実融資など、通常と異なる条件で取引することを禁止したルール)を基礎にしたものでなければならない。」
とし、そのためには、
「内部でのリスク移転を避けたものでなければならない。」
とし、そこに、
「金融システムの安定のために、金融庁の果たすべき役割が、大きくなる。」
としている。
また、
「郵貯の果たすべき、ロジスティクス(物流)の役割について、アメリカは、重大な関心を持っており、これらの業務についても、前期と同様、民間競合企業と、同一の税制、諸規制などのイコールの条件での競争環境が整備される必要がある。」
としている。
以下は、該当箇所抜き書き_____________________________________________
8ページ
PRIVATIZATION
The United States continues to take great interest in Japan’s effort to privatize and reform Japan Post. The
United States recognizes the potential benefits for Japan’s economy if these steps are taken in a fully marketoriented
manner. The United States also views it essential that these reforms are undertaken transparently and
bring about a level playing field between Japan Post and private sector competitors in Japan’s banking,
insurance, and express delivery markets. The United States continues to urge Japan to take necessary steps to
ensure equivalent conditions of competition are achieved in these markets.
RECOMMENDATION HIGHLIGHTS
Level Playing Field - Savings and Insurance:
Ensure Japan Post is required to meet tax, legal,
and regulatory obligations and is subject to the
same supervisory standards as private firms;
ensure Japan Post does not actively leverage its
Government ties to secure new advantages.
Competitive Conditions and New Products:
Create a level playing field in Japan’s banking and
insurance sectors before postal financial
institutions are permitted to introduce new lending
services, underwrite new or altered insurance
products, and originate non-principal-guaranteed
investment products.
Level Playing Field - Express Delivery: Apply
equivalent customs clearance procedures for
mail/packages handled by Japan Post as applied to
private express carriers; adequately disclose
relationships to ensure cross-subsidization does not
occur between competitive and non-competitive
services.
Transparency: Ensure strong transparency in the
implementation of Japan Post reforms, including
providing interested parties meaningful
opportunities for input and exchanges of views as
the process proceeds.
_____________________________________________
30ページ
COMPETITION POLICY
I. Improving Antimonopoly Compliance and Deterrence
_____________________________________________
31ページ
G.
Promote Competition in Sectors Undergoing Privatization. Ensure, through
appropriate JFTC studies and other steps, that privatization and reform of Japan
Post is undertaken in a manner that promotes effective competition in the relevant
markets. Carefully monitor the practices of newly privatized entities, including
new Japan Post entities, to ensure they do not engage in anticompetitive behavior.
_____________________________________________
39ページ
Annex - 31
III. Policyholder Protection Corporation (PPC). As Japan begins preparations to review
the Life and Non-Life Policyholder Protection Corporations, the United States
recommends Japan adopt measures, including a shift to a post-funded system, to help
ensure that a more efficient, sustainable safety net system is created before the current
system expires. The United States welcomes confirmation from Japan that the Financial
Services Agency and relevant advisory groups will provide meaningful opportunities for
input as the review process moves forward. The United States urges that the preparation
of related draft legislation and other measures is undertaken in a transparent manner.
_____________________________________________
41ページから44ページにかけて
Annex - 33
PRIVATIZATION
II. Japan Post. The United States welcomes a market-oriented reform of Japan Post. If
implemented vigorously, the United States recognizes the potential benefits for the
Japanese economy of these reforms by stimulating competition and leading to a more
productive use of resources. The implementation of a fully market-oriented reform is
also necessary to eliminate long-standing advantages that Japan Post has been accorded
over U.S., Japanese, and other private companies and to ensure that new advantages are
not created. As the implementation of these reforms progresses, it is important that all
necessary measures are taken to fully realize the legislation’s principle of establishing
equivalent conditions of competition between Japan Post and the private sector.
A. Level Playing Field for Postal Savings and Insurance and Financial System
Stability. The United States welcomes confirmation by Japan that the Postal
Savings Bank and Postal Insurance Corporation, from the outset of the
privatization process in October 2007, will no longer be allowed to offer products
that carry government guarantees and will be required to meet the same tax, legal,
and regulatory obligations and, along with the Post Office Corporation, be subject
to the same supervision and disclosure standards as private sector companies.
The United States also welcomes confirmation that relationships among the new
postal companies must be on an arms-length basis and that no schemes exist that
allow for cross-subsidization (and thus also transfer of risks) between and among
the new entities created under related laws. The Financial Services Agency
(FSA) will play a critical role in assuring they develop and exercise effective risk
management so as not to jeopardize financial system stability. In addition to fully
implementing the above-mentioned measures, the United States urges Japan to
also take the following steps to help meet the Japan Post Privatization Law’s aim
to achieve equal conditions of competition between Japan Post and private firms:
1. Product Distribution and Sales Channels. Ensure private firms are given
equal and transparent access to compete for distribution of financial
products through the Post Office network and, consistent with the armslength
rule, ensure that the Post Office Corporation’s relationships with
the Postal Savings Bank and Postal Insurance Corporation are undertaken
on a truly market basis.
2. Deposit and Reinsurance Relationships. With respect to deposit and
reinsurance contracts between the Incorporated Administrative Agency
Management Organization for Postal Savings and Postal Life Insurance
(Public Successor Corporation) and the Postal Savings Bank and the
Postal Insurance Corporation, respectively, take all necessary measures to:
a. Ensure full and complete separation of pre-existing accounts and
contracts (those held prior to October 2007) from accounts and
contracts concluded beginning October 2007 so as to ensure a full
separation of risk and that the Deposit Insurance Corporation and
insurance Policyholder Protection Corporations will not be liable
for pre-existing accounts and contracts;
b. Ensure deposit and reinsurance contracts are on a fully arms-length
basis and, as such, will not allow for cross-subsidization of the new
postal financial institutions through such arrangements; and
c. Ensure the Public Successor Corporation’s financial condition,
including surpluses and/or deficits, and reinsurance transactions
are publicly disclosed and accounted for in a manner that meets
generally accepted corporate accounting rules/standards in Japan.
3. Implicit Government Guarantee. Until such time that the Government of
Japan is fully divested from its shares of the postal financial institutions,
take meaningful steps to ensure consumers and the marketplace are aware
that products issued from October 2007 will not be backed by the
Government. In addition, carefully monitor actual sales practices and
enforce related laws to ensure accounts and contracts from October 2007
are not misrepresented as having a Government guarantee, as well as to
ensure the postal financial institutions do not leverage their relationship
with the Government to provide them an advantage over their competitors
in the marketplace.
4. Antimonopoly Act Enforcement. Ensure through appropriate Japan Fair
Trade Commission studies and other steps that the privatization and
reform of Japan Post is undertaken in a manner that promotes effective
competition in the relevant markets. In addition, carefully monitor the
practices of Japan Post entities to ensure they do not engage in
anticompetitive behavior.
5. Regional Social Contribution Fund. Ensure the Fund is administered
transparently (including sufficient and periodic public disclosure of the
cost allocation methodology, cost and revenue data used to make such
calculations, and the distributions of funds) and include measures such as
internal controls and transparent, precise disbursement criteria to prevent
benefits from unfairly accruing to the postal financial service suppliers but
not to other domestic and foreign service suppliers.
6. Asset Valuation. Ensure that, prior to October 2007, independent auditors
undertake a full valuation of the assets, liabilities, and reserves of the
Incorporated Administrative Agency Management Organization for Postal
Savings and Postal Life Insurance (Public Successor Corporation), and
that this valuation is fully disclosed to the public.
B. Conditions of Competition and the Introduction of Products. The United States
urges Japan to ensure a level playing field is actually created between the postal
financial institutions (both existing institutions and, from October 2007, the new
institutions) and private financial institutions before the postal financial
institutions are permitted to introduce new lending services, new or altered
insurance products underwritten by the postal insurance business, and the
origination of non-principal-guaranteed investment products by the postal savings
business. Relevant measures should include those that ensure the postal financial
institutions, in practice, meet the same licensing and supervisory requirements as
private sector financial institutions, including requisite risk management and
internal controls requirements and full FSA supervision. Achieving a level
playing field also includes requiring the postal entities to meet the same
obligations and standards that other companies must meet when introducing new
products or riders. Moreover, prior to engaging in any new product sales or
transactions, sales agents and representatives of the Post Office Corporation,
Postal Savings Bank, and Postal Insurance Corporation would have to fully meet
the same requirements and standards that licensed private sector providers must
meet to engage in such sales and transactions. Such requirements should include
the development of systems and management skills to effectively evaluate and
manage the risks associated with those products.
C. Level Playing Field for Express Carrier Services. The United States welcomes
confirmation by Japan that the logistics and postal services operations of the
Postal Services Company will be subject to the same taxes as private companies
and, furthermore, will be subject to the same aviation safety and security
regulations. The United States also welcomes confirmation that the Minister of
Land, Infrastructure and Transport will supervise Japan Post’s international
physical distribution services under transportation laws and, with respect to postal
services, supervise related operations according to freight transportation laws and
ordinances. In order to fully achieve a level playing field in the express carrier
services sector, the United States recommends the above measures are fully
implemented and that the following additional steps are taken:
1. Ensure that supervision by the Ministry of Land, Infrastructure and
Transport of Japan Post operations is undertaken according to the same
standards as those applied to private companies.
2. Apply customs clearance procedures for mail and packages handled by
Japan Post equivalent to those applied to private express carriers for
similar actions. Specifically, the United States urges Japan to ensure that
mail delivered under EMS follows the “duty declaration” system and not
the “duty assessment” system that Japanese regulations currently apply to
EMS mail.
3. Require Japan Post to pay equal costs for customs clearance for similar
actions, including NACCS charges and the costs for application document
preparation. Furthermore, Japan should ensure it applies all safety and
security laws and regulations to Japan Post letters in the same manner as
to documents carried by private express carriers.
4. Take all necessary measures to make public disclosures of the Postal
Service Company’s business and transactions sufficient to ensure crosssubsidization
among the Company’s businesses and with other Japan Post
entities does not occur, including requiring disclosures of separate
business areas to the same standards required of other private companies.
D. Transparency. The United States welcomes measures being taken to ensure the
preparatory process and implementation of the reforms of Japan Post progress in a
transparent manner. The United States recommends that steps continue to be
taken to make the preparation and implementation of these reforms fully
transparent and inclusive of the views of interested parties, including by:
1. Ensuring meaningful opportunities are provided to interested private
sector parties, including U.S. and other foreign companies, to actively
contribute to deliberations by committees or components of such
convened by the Government of Japan, including the Postal Services
Privatization Committee, on issues that may impact the private sector;
2. Providing meaningful and timely opportunities for private sector interested
parties to exchange views with relevant Government of Japan officials on
matters pertaining to Japan Post reforms that may affect the private sector;
3. Seeking public input through the use of Public Comment Procedures and
other methods with respect to implementing regulations, guidelines,
Cabinet and other orders, implementation plans, and other measures
established for matters pertaining to Japan Post, and also ensure that input
is fully considered and, where appropriate, incorporated into draft
measures before they are finalized; and
4. Ensuring that information relating to the planning and implementation of
Japan Post reforms, including the discussion materials and minutes of
related government-convened advisory groups, is made public in a timely
way by continued use of web postings, press conferences, and other tools.
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