--- title: "国際局 (BoJ International Department)" aliases: - "financial-regulators/boj-international-dept" - "boj-international-dept" - "BoJ International Department" - "International Department" - "国際局" - "BoJ ID" domain: financial-regulators created: 2026-05-24 last_updated: 2026-05-24 last_tended: 2026-05-24 review_by: 2026-11-20 confidence: likely tags: [JapanFG, central-bank, internal-bureau, BoJ, international, BIS, IMF, FX] status: active sources: - "https://www.boj.or.jp/en/about/organization/index.htm" - "https://www.boj.or.jp/en/intl_finance/index.htm" - "https://www.boj.or.jp/en/intl_finance/cooperate/index.htm" - "https://www.boj.or.jp/en/intl_finance/fxope/index.htm" - "https://www.boj.or.jp/en/about/publication/" --- # 国際局 (BoJ International Department) ## Wiki route This entry sits under [[financial-regulators/INDEX|financial-regulators INDEX]]. Read it against [[financial-regulators/boj-financial-markets-dept|金融市場局]] for the domestic market-operations counterpart and [[financial-regulators/fsa-strategy-bureau|FSA 総合政策局]] for the FSA-side international-policy lane. For currency-and-FX context, anchor through [[financial-regulators/boj-monetary-policy|BoJ monetary policy]] and [[money-market/japan-money-market|Japan money market]]. ## TL;DR The International Department (国際局) is the Bank of Japan's internal bureau in charge of cross-border policy, central-bank cooperation, coordination with the IMF / BIS / FSB, and operational support for FX intervention executed by the Bank as agent of the Ministry of Finance. It is the BoJ's outward-facing bureau. For JapanFG, this bureau is the right anchor whenever a page needs to discuss cross-border BoJ work — FX-intervention execution, BIS Basel and CPMI committees, swap-line and PvP arrangements with other central banks, and Japan's representation in IMF Article IV / FSB peer review. ## 1. Function / scope The BoJ's English organization chart identifies the International Department as the bureau responsible for: - Coordination with foreign central banks, the BIS, the IMF, and the FSB on monetary-policy, financial-stability, and FMI topics; the BoJ Governor and Deputy Governors are represented at the BIS Governors' meeting and at IMFC, and this bureau provides the staffing. - Execution support for foreign-exchange intervention — under Japanese law, intervention is decided by the Minister of Finance and the BoJ acts as agent; this bureau handles the operational interface with foreign-currency markets. - Management of the Bank's foreign-currency assets, foreign-bank deposit relationships, and cross-border settlement / swap arrangements (including the BoJ's standing US-dollar funds-supplying operations, which are executed by [[financial-regulators/boj-financial-markets-dept|金融市場局]]). - Country-risk and global-economy analysis used as input to MPM discussions on external conditions. - Liaison with foreign-bank branches in Japan and with Japanese banks' overseas operations, in coordination with the prudential bureau ([[financial-regulators/boj-financial-system-dept|金融機構局]]) and the FSA. The bureau is not a regulator — it has no statutory supervision power over foreign banks. Regulatory perimeter sits with the FSA. ## 2. Counterparty / interaction Counterparties cluster in four layers: - **Foreign central banks and international organizations**: Federal Reserve, ECB, Bank of England, People's Bank of China, BIS (Basel), IMF, FSB, OECD; standing G7 / G20 working groups. - **Ministry of Finance Japan**: the legal principal for FX intervention, foreign-reserve management, and IMF representation. The MOF-BoJ relationship is a public, documented one and is central to this bureau's mandate. - **Foreign banks in Japan**: branches and subsidiaries such as [[foreign-financial-institutions/bank-of-america-japan|Bank of America Japan]], [[foreign-financial-institutions/bnp-paribas-japan|BNP Paribas Japan]], [[foreign-financial-institutions/credit-agricole-bank-japan|Crédit Agricole Bank Japan]], [[foreign-financial-institutions/bank-of-china-japan|Bank of China Japan]], and other entries in the JapanFG foreign-bank cluster. The interaction is mostly informational, not supervisory. - **Internal BoJ**: shared work with [[financial-regulators/boj-financial-markets-dept|金融市場局]] on FX-related funds-supplying operations and with [[financial-regulators/boj-payment-settlement-dept|決済機構局]] on cross-border settlement (CLS, PvP). ## 3. Why this page matters - It is the cleanest public anchor for "where does the BoJ sit on FX intervention, BIS work, and IMF representation" — needed any time a JapanFG page references cross-border BoJ activity. - It clarifies the agent / principal split on FX intervention: MOF decides, BoJ executes, this bureau coordinates. Many commentaries collapse this incorrectly. - It separates international policy (this bureau) from the FSA's international policy work (see [[financial-regulators/fsa-strategy-bureau|総合政策局]]) — both exist and they are not identical. - It gives the right home for foreign-bank-branch references in JapanFG that touch BoJ relationships without going through statutory supervision. ## Related - [[financial-regulators/boj-monetary-policy|BoJ monetary policy]] - [[financial-regulators/boj-financial-markets-dept|金融市場局 (Financial Markets Department)]] - [[financial-regulators/boj-financial-system-dept|金融機構局 (Financial System and Bank Examination Department)]] - [[financial-regulators/boj-payment-settlement-dept|決済機構局 (Payment and Settlement Systems Department)]] - [[financial-regulators/fsa-strategy-bureau|FSA 総合政策局 (Strategy Development and Management Bureau)]] - [[financial-licenses/foreign-bank-branch-license-route|Foreign bank branch license route]] - [[money-market/japan-money-market|Japan money market]] ## Sources - Bank of Japan, "Organization" (English) — https://www.boj.or.jp/en/about/organization/index.htm - Bank of Japan, "International Finance" — https://www.boj.or.jp/en/intl_finance/index.htm - Bank of Japan, "International Cooperation" — https://www.boj.or.jp/en/intl_finance/cooperate/index.htm - Bank of Japan, "Foreign Exchange Operations" — https://www.boj.or.jp/en/intl_finance/fxope/index.htm - Bank of Japan, "Publications" (Annual Review) — https://www.boj.or.jp/en/about/publication/ --- > [!info] 校核状態 > confidence: **likely**. The bureau's English label is "International Department" in BoJ materials. FX-intervention execution is shared with the Financial Markets Department on the dealing side; this page describes the cross-border policy and MOF-agent role rather than tick-level dealing.