In particular, they fear that common deficiencies in risk management will result in widespread failures or that the failure of a very large derivatives participant will impose heavy credit losses on its counterparties and yield a chain of failures. Others, like myself, who see the benefits of derivatives exceeding the costs, do not deny that their use poses significant risk-management challenges.
However, a decline in general prices due to the decrease in energy prices exerts upward pressure on real income, and therefore I consider  4  BIS central bankers’ speeches  this to be a favorable factor for Japan’s economy.