Bank of Japan thus plays a vital role in the settlement process in Japan as a whole. Bank of Japan serves two specific functions in securing the stability and efficiency of the country’s payment and settlement systems: (1) providing the means of settlement to the public; and (2) attending to the smooth execution of payments and settlements in Japan.
Without in any way wanting to pass judgement on any particular case, root causes seem to include distorted incentives coupled with an erosion of a culture that placed great store on acting in a trustworthy way. Finance depends on trust. In fact, in the end, it can depend on little else. Where trust has been damaged, repair has to be made.