Four Cagamas representatives participated in a learning assignment with the Japan Housing Finance Agency (“JHF”), gaining valuable insights into Japan's housing finance, green finance, urban development, and capital markets. The assignment aimed to provide a comprehensive understanding of JHF's structure, role in the housing finance market, and its product offerings, with a particular emphasis on the Flat 35 mortgage programme, known for its long-term fixed-rate mortgages that offer stability and predictability for home owners.
During the five-day assignment, the Cagamas team participated in several key activities, including visits to the Japan Securities Clearing Corporation (JSCC) to learn about securities clearing processes, the Ministry of Environment Japan (MoE) to explore green finance policies, and the Bank of Japan (BoJ) to discuss monetary policy and climate risk integration. They also engaged with the Machida City Municipal Council on urban planning and community engagement, Tokyu Corporation on transit-oriented development, Nomura Securities Co. Ltd. on public offerings and green bonds, and Rating and Investment Information, Inc. (R&I) on green bond standards.