Role of Japan in a changing international financial environment  (1)  What is expected of Japan? Now, let me clarify Japan’s role in this period of changing international finance. First, Japan should actively participate in developing international rules.
Any participating bank will, therefore, be able to make payments to, and receive payments from, any other participating bank. The linkages through central banks will avoid the complex payment chains that may sometimes occur in correspondent bank arrangements. The system will use the infrastructure of each member country’s central bank and commercial banking system to make it operational.