In this respect, I hope that the government will continue to exercise strong leadership and earnest efforts will continue to be made by various parties. V. Financial System Reform and Revision of the Bank of Japan Law A. Financial System Reform I would like to use the remaining time to discuss financial system reform and the revision of the Bank of Japan Law.
Moreover, closer contacts with the markets will facilitate the timely collection of market data, which will enable the central bank to formulate and implement monetary policy more effectively. As to promoting market development and product innovation, we will take the following measures.