Under this mode, however, if a single financial institution in the system were to fail to meet its obligations, all payments would inevitably be suspended. In the worst case, this would lead to a chain of defaults at financial institutions.
Since the total daily value of settlement via the current accounts at the Bank is substantial, reaching around 120 trillion yen, the effects of this risk could be grave. In order to reduce such risk, in 2001, the Bank converted the designated-time net settlement to a settlement mode in which funds transfers are made immediately and individually.