Therefore, we should endeavor to prevent the crisis contagion triggered by concerns over a lack of liquidity. In this regard, for example, currency swap arrangements and cross-border collateral arrangements could both be effective liquidity supplement tools. Enhancing the infrastructure of financial transactions, including the shortening of settlement periods, is also an important issue. 6.
Concluding remarks  As I have argued, striking the right balance in a variety of dimensions is important for realizing financial system stability.