JPN Shinkin CB Digitization of Checks

On May 30, JPN Shinkin CB issued a plan for digitization of checks.

  • JPN Shinkin CB issued a plan for complete digitization of promissory notes and checks, in light of the growth strategy implementation plan issued by JPN GVT in Jun. 2021.
  • Follows JPN JBA Mar. 2021 published survey report, clarified objectives, see #100891.
  • Plan
  • JPN Shinkin CB will stop accepting collections for promissory notes and checks due after Apr. 2027, including post-dated checks with an issue date after Apr. 2027.
  • Effectiveness
  • The acceptance of promissory notes and checks will be suspended from Aug. 1, 2024.

Regulators JPN Shinkin CB
Entity Types Bank; CU
Reference PR 5/30/2024
Functions Compliance; Financial; Operations; Settlement; Technology; Treasury
Countries Japan
Products Banking; Payments
Regions AP
Rule Type Final
Rule Date 5/30/2024
Effective Date 8/1/2024
Rule Id 213877
Linked to Rule :100891
Reg. Last Update 5/30/2024
Report Section International

Last substantive update on 06/03/2024