January 30, 2020  Bank of Japan  Interest Rate Benchmark Reform in Japan Speech at the Kin′yu Konwa Kai (Financial Discussion Meeting) Hosted by the Jiji Press  AMAMIYA Masayoshi Deputy Governor of the Bank of Japan  (English translation based on the Japanese original) 0  Introduction Good afternoon, everyone.
Although we had indicated to Bank of America in December that the government would provide assistance if necessary to keep the company from being destabilized, as it had done in other cases during this time of extraordinary stress in the financial markets, those December discussions were followed in January by significant and intense negotiations involving Bank of America, the Federal Reserve, the Treasury, the Federal Deposit Insurance Corporation, and the Office of the Comptroller of the Currency regarding many key aspects of the assistance transaction, including the type of assistance to be provided, the size of the protection, the assets to be covered, the terms for payments, the fees, and the length of the facility.