At the same time, it is very important for the Bank to improve its promotion of smooth corporate financing and its implementation of money market operations to strengthen the transmission mechanism of monetary easing, against the background of the banks' weak financial intermediary function, which is an important route for the transmission of the effects of monetary policy.
In light of this, the Bank has decided, as a temporary measure, to examine the possible purchase of asset-backed securities (ABSs), including asset-backed commercial paper, mainly backed by those assets related to small and medium-sized firms. ABSs are marketable securities into which pools of specific assets such as accounts receivable held by firms are converted.