First of all, I would like to emphasize the fact that the Bank of Japan has implemented aggressive monetary easing to a degree unprecedented in the history of central banking in the world in terms of both interest rates and volume. Under the influence of this monetary easing, both short and long term interest rates have been kept extremely low.
10 Board of Governors of the Federal Reserve System, “Federal Reserve Board invites public comment on framework that would more closely match regulations for large banking organizations with their risk profiles,” news release, October 31, 2018, https://www.federalreserve.gov/newsevents/pressreleases/bcreg20181031a.htm. -6would significantly reduce regulatory compliance requirements for firms in the lowest risk category, including most institutions with between $ billion and $ billion in assets.