Through on-site supervision and monitoring, the Bank will strongly support such a direction while urging financial institutions to make utmost efforts. BIS Review 34/2003  5  4. Steps toward future financial and capital markets  The third contribution of the Bank is the effort to improve financial and capital markets.
Here I would like to emphasize the importance of credit markets such as corporate bond and CP markets as well as stock and other markets for risk money. The current structure of corporate finance in Japan exhibits a heavy dependence on bank borrowing. However, looking forward, we need to diversify financial intermediation channels to cope with the various needs of investors and fund-raisers.