9 Conclusion To sum up, in response to severe threats to our economy, the Federal Reserve created a series of special lending facilities to stabilize the financial system and encourage the resumption of private credit flows. As market conditions and the economic outlook have improved, many of these programs have been terminated or are being phased out.
The Bank of Japan has no specific plan at present to issue digital currencies as a substitute for banknotes. Nonetheless, the Bank will make utmost efforts to deeply understand new technologies including blockchain and DLT. The Bank will also continue to conduct various research and analyses of these new technologies, while seeking the possibility of improving its own infrastructure through applying them in future.