Sixth, although not necessarily part of monetary policy, the Bank of Japan purchased stocks from banks' equity portfolios in order to help reduce the market risk associated with their shareholdings, which was a significant destabilizing factor for the Japanese financial system.
In a nutshell, the Bank of Japan had, in previous years, adopted many of the innovative measures which are now being introduced on a global scale. Challenges for the Japanese economy and the Bank of Japan Though needless to say, such unconventional monetary policy measures were initiated to deal with the difficulties that the Japanese economy confronted at that time. Each crisis is different.