In addition, the decline in oil prices since last autumn has been pushing up profits in a wide range of sectors in Japan’s economy, which is almost completely dependent on imports for crude oil supply.
Central banks have attached importance to their oversight activities to ensure that payment and settlement systems do not become a source of instability, and to lay the foundation for further enhancement of the financial system. One issue that the Bank has worked on over the years as part of its oversight activities is preparing arrangements for coping with participant default.