Japan Interest Rate

Bank of Japan Deputy Governor Ryozo Himino said in a speech Tuesday that global regulators must adapt to major shifts in the financial system, including the growing dominance of non-bank financial institutions and the rise of stablecoins. In the 2025 GZERO Summit Japan, Himino noted that while G20 nations have pledged to implement Basel 3 banking reforms, deadlines have repeatedly been delayed even as half of global financial assets now lie outside the framework’s scope. He warned that stablecoins could become central to global payments, “partially replacing the role of bank deposits.” Himino urged regulators to “modernise international prudential standards” and said U.S. banks, with their strong dollar base, could help lead efforts to create unified standards and prevent market fragmentation.