As a result of such purchases, the  BIS central bankers’ speeches  1  Bank of Japan’s balance sheet relative to nominal GDP increased from about 35 percent at end-March 2013 to about 81 percent at end-March this year and will continue to rise.
For comparison, following the three rounds of large-scale asset purchases (LSAPs) in the United States, which now have ended, the Federal Reserve’s balance sheet at end-March this year was equivalent to 25 percent of nominal GDP. I think this shows you just how massive the monetary easing conducted by the Bank of Japan is. II.