Prior to the pandemic, banknotes accounted for most of the Bank’s liabilities with deposits making up most of the rest (Graph 2).
The spread of COVID-19 has not subsided globally, and domestic and overseas economies have remained in extremely severe situations. However, since many countries have been resuming economic activities gradually while containing the spread, the situation has changed slightly. In Japan, after the government lifted the state of emergency in late May, economic activity has resumed gradually.