U.S. tax cut – what it means for the economy, etc.

Global Risk Watch Vol.33 December 2017

Risk intelligence e-Newsletter provides an overview of various corporate management risks from a global perspective featuring key events that occurred over the past month and need to be carefully examined for risk management purposes. The Center for Risk Management Strategy (CRMS) as part of the global Deloitte Tohmatsu Group provides you with experienced analysis on risk management and financial regulation.

Overview Macroeconomic and Financial Risks

# U.S. tax cut – what it means for the economy
Tsuyoshi Oyama, Partner/Head of Center for Risk Management Strategy (CRMS) at Deloitte Touche Tohmatsu LLC/Deloitte Asia Pacific Risk and Capital Management Leader

Stock prices continue to rise to new heights thanks to calm consumer prices and interest rates as well as a booming global economy. 3Q GDP growth was revised up in the US and Japan, confirming perfect economic conditions in many developed countries.

*Please download the full article


(PDF, 279KB)

Overview of Development in Financial Regulations

# The real race begins now: the final agreement on the Basel III reform
Shiro Katsufuji, Director, Center for Risk Management Strategy at Deloitte Touche Tohmatsu LLC

The Basel III has finally come to an agreement; on December 7th, the Group of Central Bank Governors and Heads of Supervision (GHOS) has endorsed the Basel III reform.
The Basel Committee on Banking Supervision (BCBS) has published the final document of the reform, which calls for implementation in 2022, and sets the long debated capital floor at 72.5%.

*Please download the full article


(PDF, 285KB)

Highlight of Indicator for this Month

# Fiscal risks associated with large scale tax cuts
Toshikazu Kumagai, Manager, Center for Risk Management Strategy at Deloitte Touche Tohmatsu LLC

Large scale tax reform, a hot button issue in the 2016 US Presidential election, looks close to passing.(*) Republicans announced on December 14th that they had reached a consensus deal on the Congressional and Senate versions of the bill.
(*):Time of writing, December 17th 2017

*Please download the full article


(PDF, 708KB)

Seminars, Conferences & Publications


# "Global Financial Regulation in 9 Categories (written and edited by Tsuyoshi Oyama)" publication seminar (February 7, 2018 | Tokyo Convention Center) *Only available in Japanese 
In celebration for the publication of "Global Financial Regulation in 9 Categories," written and edited by Tsuyoshi Oyama (Partner, Head of CRMS), CRMS will host a seminar. The themes include "Future of the global financial regulation," "Effective conduct risk management," and "Enhanced market transaction regulation (i.e. MiFID II)."
At the seminar, we will also introduce a new product, Conduct Risk Heat Map. 


# "Deloitte Tohmatsu Financial Business Seminar 2018" (February 1, 2018 | Station Conference, Tokyo) *Only available in Japanese 
Deloitte Touche Tohamatsu LLC. will hold the fourth Financial Business Seminar under the theme of "Beyond FinTech: Impact and opportunities the disruptive force brings to the Japanese financial industry." From the Center for Risk Management Strategy (CRMS), the following professionals will participate.
Lecture, "Banking and insurance regulation and risk - New perspectives on risk management brought by regulation"

Shiro Katsufuji (Director, CRMS) - banking segment
Shigeyuki Goto (Director, CRMS) - insurance segment 


# 2017 Deloitte Executive Forum - Risk Management Transformation in the Age of Dynamic Supervision: Global regulatory developments, wholesale conduct, model risk, and third part/cyber security risk management (December 13, 2017 | Peninsula Hotel Tokyo)
Center for Risk Management Strategy (CRMS) of Deloitte Touche Tohmatsu LLC has hosted an executive forum on risk management practices in Asia Pacific. We have welcomed a great number of risk management professionals from the financial industry.


【Other Activities】

# Deloitte CFO Signals Japan : 2017 Q2 - How CFOs/CFO organizations engage with cloud computing and AI *Only available in Japanese
Deloitte has conducted the 8th regular survey on CFOs in Japan.
This survey analyzes the change in awareness of CFOs in a chronological order and the latest outlook in the “survey items on the economic environment” section.
It also investigates the awareness on risk scenarios of Japan and major countries from a macroeconomic perspective.
This issue’s hot topics include how CFOs/CFO organizations engage with cloud computing and AI (survey period: July 3 to 14, 2017).
CRMS has contributed to the observation and analysis part of the survey.

# ”Brexit Impact from a Macroeconomic Perspective ” available online *Only available in Japanese
CRMS provides timely information on the impact and key aspects of Brexit from a macroeconomic perspective on the special website of the Deloitte Tohmatsu Group.

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