Like other Policy Board members, I felt that the Bank should consider a variety of policy options without precluding measures that are temporary or extraordinary for a central bank, such as directly influencing longer-term rates and expanding the type of financial assets eligible for the Bank’s purchases. The details of the Program are as follows.
The Bank established a program on its balance sheet to conduct outright purchases of various financial assets, such as Japanese government bonds (JGBs), CP, corporate bonds, exchange-traded funds (ETFs), and Japan real estate investment trusts (J-REITs), and the fixed-rate funds-supplying operation against pooled collateral.