This is especially relevant for payment and settlement systems, which form the bedrock of the financial infrastructure. Today, I would like to present to you the Bank’s views on the challenges that need to be addressed to further strengthen the robustness of payment and settlement systems in Japan. II.
Performance of Japan’s payment and settlement systems during the recent crisis  The failure of Lehman Brothers in autumn 2008 triggered unprecedented disruptions in the global financial market. The aftermath of the disruptions challenged Japan’s payment and settlement systems to prove its robustness against shocks.