5  Figure 6  Initiatives by Individual Companies  Understand the status of using LIBOR  • Identify specific financial instruments and transactions referencing LIBOR • Identify operations using LIBOR other than financial transactions （e.g., accounting and risk management） • Establish a specified section dedicated to the transition to an alternative interest rate benchmark  Develop systems and secure internal resources  • Secure internal resources, including staff and a budget ⇒ It should be noted that it will take considerable time to review systems and operations and revise loan contracts.
They are expected to ease overly tight conditions through several channels. •  The first and most important channel is through a reduction in term funding costs for banks.