Although it is an unconventional measure for a central bank to directly take on private-sector credit risk, we thought it necessary to promote smooth corporate financing by nurturing the ABS market and to enhance the effectiveness of monetary easing, giving due consideration to the required functions of Japan’s financial system in the future and the current weakness in the credit intermediary function of the banking system.
At the same time, the Bank will pay careful attention to avoid distortion of the ABS market and to maintain the soundness of the Bank’s balance sheet. IV. For the revitalizing of Japan’s economy  A. The need for efforts by a wide range of economic entities  I would like to briefly discuss my thinking on the efforts necessary to revitalize Japan’s economy.