6 Innovation thus laid the groundwork for the expansion of credit card and mortgage lending that has taken place over the past 15 years or so, as well as some other forms of credit like auto loans.
D.  Response of the Bank of Japan  The Bank of Japan believes that it has done its best to counter financial institutions’ nonperformingloan problem within the existing institutional frameworks by, among other things, fulfilling its role as the lender of last resort.