Japan's economy then suffered two crises, namely, the 2008 Global Financial Crisis and the Great East Japan Earthquake in 2011, both of which coincided with firms being faced with so-called six headwinds, including a historically strong yen.
At 31 March 2006, the Bank's total assets stood at just over $ billion, a decline of 2.3 per cent when compared to the position last year. This decline, reflected in a contraction in the foreign reserves, was due primarily to foreign payments made by the Bank on behalf of member governments and commercial banks in the ECCU.