If there is a merger or other event that reduces the supply of profitable loans to small businesses, other banks seem to step in and provide this credit, and there is every reason to expect that such responses will continue in the future. BIS Review 57/1997
Unlike Europe and the United States, Japan is one of a handful of countries for which real consumption per capita has exceeded the levels prior to the Lehman shock (Chart 19). As I have noted today, in order to overcome deflation, firms, financial institutions, the government, and the central bank must play their respective roles, through which this challenge can surely be met.