In order to improve the safety and efficiency of settlements using these BOJ accounts, the Bank has made various efforts, including the introduction of the BOJ-NET the Bank of Japan Financial Network System, which is an on-line system for funds transfers among the current accounts held by private financial institutions with the Bank of Japan.
The BIS Review 43/1997  -5-  Bank intends to further improve the system in cooperation with those concerned by making realtime gross settlement the only settlement mode, which I shall discuss in detail later.