The banking sector plays a crucial role in the modern economy by acting as a  BIS Review 72/2009  1  financial intermediary and ensuring that funds are distributed from those who wish to save to those who wish to borrow. When this vital function is impaired, it can have severe effects on economic activity.
Through those activities, the association has contributed substantially to the development of Japan’s economy and financial markets. Before starting my speech, I express my respect for the efforts you have been making over the years. In my speech today, I will briefly refer to the roles that international banks including other financial institutions play in Japan.