The Central Council for Financial Services Information First, I would like to provide an introduction to the Central Council for Financial Services Information. As I just mentioned, the Council has its secretariat in the Public Relations Department of the Bank of Japan.
This idea underpins the three main building blocks of the reforms: Capital, liquidity and governance. And much has been done on all three fronts. Banks not only have to hold more capital than they did before the crisis; their capital also needs to be of higher quality. Banks can therefore suffer more losses before they actually fail.