To this end, the Bank will spend a sufficient amount of time, around a year to 18 months, drawing on the knowledge it has gained from its experience to date, the research that has accumulated in the academic community in Japan and abroad, and the opinions received at meetings with local leaders and on other occasions.
Whatever instruments are relevant for the toolkit through time, I believe the upcoming Review should consider a structure for macro-prudential instruments which allows them to be “off’ or “on” through time, but where they remain established within banks’ reporting and compliance systems.