2018: A year of challenges for major central banks?, etc.

Global Risk Watch Vol.34 January 2018

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

# 2018: A year of challenges for major central banks?
Tsuyoshi Oyama, Partner/Head of Center for Risk Management Strategy (CRMS) at Deloitte Touche Tohmatsu LLC/Deloitte Asia Pacific Risk and Capital Management Leader

As we enter 2018, interest rates in developed countries have finally started to move. 10-year US Treasury yields topped 2.6% and the rising long-term interest rates in the EU and even Japan are notable.

*Please download the full article


(PDF, 192KB)

Overview of Development in Financial Regulations

# Towards the enhanced Pillar 2
Shiro Katsufuji, Director, Center for Risk Management Strategy at Deloitte Touche Tohmatsu LLC

In global financial regulation, as Basel III was finalized at the end of 2017, focus is shifting away from the "Pillar 1" requirements towards "Pillar 2." In Pillar 1, convergence of the international standards for capital requirements have made progress.

*Please download the full article


(PDF, 193KB)

Highlight of Indicator for this Month

# Recessions and the Flattening Yield Curve
Toshikazu Kumagai, Manager, Center for Risk Management Strategy at Deloitte Touche Tohmatsu LLC

Recently, the flattening of the yield curve in the US has started to garner attention. Normally, when the curve flattens out it is because the FRB has raised short term interest rates but long term rates fail to rise in response.

*Please download the full article


(PDF, 371KB)

Seminars, Conferences & Publications


# Voice of Asia Forum - Power balance shift caused by demographics" (January 24, 2018 | The Peninsula Tokyo) 
Deloitte Touche Tohmatsu LLC hosted "Voice of Asia Forum" where the experts discussed economic and other trends in Asian countries such as China and India as well as challenges and opportunities the demographic changes bring to Japanese businesses.
Our panelists include; Kiyohiko Nishimura (Professor, National Graduate Institute for Policy Studies), Naoyuki Yoshino (Dean, Asian Development Bank Institute), Sanjeev Sinha (India Japan Partnership), and Takashi Kozu (President, Ricoh Institute of Sustainability and Business).
Tsuyoshi Oyama (Partner, Head of CRMS) gave a keynote presentation "Light and shadow the future demographics will bring to the Asian economy." 

Voice of Asia Third Edition


# (Repost) "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 


# Global Financial Regulation in 9 Categories" 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.



# "Global Financial Regulation in 9 Categories" (published by CHUOKEIZAI-SHA) *Only available in Japanese
"Global Financial Regulation in 9 Categories," written and edited by Tsuyoshi Oyama (Partner, Head of CRMS), was published by CHUOKEIZAI-SHA.


【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.

Contact Center of Risk Management and Strategy

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