In so doing, the Bank of Japan extended the maturities of liquidity-providing operations while expanding the range of acceptable collateral and counterparties. We also introduced a special lending facility to ease funding stress in the markets. Furthermore, we purchased private-label securities such as asset-backed commercial paper (ABCP) and asset-backed securities (ABS).
Regulation and supervision is being strengthened to make the future of the banking system more stable and less crisis-prone. On 4 November, the European Central Bank assumed responsibility under the Single Supervisory Mechanism for supervising 8 banks in Slovenia accounting for more than two-thirds of the market share. The supervisory culture will change under the new regime.