Key facts
- Japan will make detailed banking-sector data available to outside researchers.
- The initiative aims to uncover unidentified credit risks.
- The goal is to improve financial regulation and supervision.
- Data will be sourced from major lenders and the Bank of Japan.
- The plan is part of a broader push for evidence-based policy.
Japan is set to grant outside researchers access to detailed banking-sector data, including information from major lenders and the Bank of Japan, as early as the current fiscal year. This move is intended to help identify previously unknown credit risks and enhance the effectiveness of financial regulation and supervision.
The initiative aligns with a global trend of utilizing "alternative data"—information from non-traditional sources—to gain deeper insights into economic activity and financial markets. The Bank of Japan itself has been exploring the use of such data, including high-frequency economic indicators, text analysis from public documents, and granular financial data, in its research activities. The Digital Agency of Japan also promotes open data principles, emphasizing public and private sector data utilization to solve problems, revitalize the economy, and improve administrative efficiency.