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Since the Bank makes payments to the national treasury out of earnings obtained through the issuance of the currency, if the Bank incurs losses, it will eventually become a public burden in that the national treasury could not receive payment it was supposed to  3  When there is strong anxiety about the future of the economy, namely, when there is the so-called Knightian uncertainty, there is a tendency that aversion against assets that are considered to be risky, such as stocks and real estate, becomes excessive and demand for those assets declines, leading to risk premiums of those assets remaining high (Meanwhile, it could happen at the same time that demand concentrates on assets whose risks are considered to be small, thereby lowering risk premiums of those assets).