Rumors have circulated that Japanese insurance companies would sell foreign currency assets due to an increase in payments of insurance claims relating to the earthquake and subsequent events. These companies have ample short-term liquid assets, so they do not need to sell their foreign currency assets in order to make the payments.
Accordingly, we are disclosing on our public website summaries of all communications with members of the public – including banks, trade associations, consumer groups, and academics – regarding matters subject to a proposed or potential future rulemaking under the act.