Ma rch 3 0 , 2 02 1  Bank of Japan  Further Effective and Sustainable Monetary Easing Speech at the Kisaragi-kai Meeting in Tokyo （via webcast）  KURODA Haruhiko Governor of the Bank of Japan (English translation based on the Japanese original)  Introduction It is my great pleasure to have the opportunity today to speak at the Kisaragi-kai meeting.
Better access to non-bank financing, notably equity capital, improves firms’ financial structure, supports innovation and makes them more creditworthy, thus safeguarding banks’ balance sheets and avoiding vicious firm-bank loops. This is not to deny that the CMU can put pressure on banks.