This implies that under the new facility, the SBLF, those banks are entitled to receive funds of up to approximately 15 trillion yen from the Bank. Together with the 5.5 trillion yen from the GFSF, the total size of the Loan Support Program will be approximately 20 trillion yen.
These questions worry me because they suggest that, for some people, there are only the two polar positions, and that if you express some reservations about one, you are automatically placed in the other. For these reasons, I want to spend some time tonight trying to place the recent suggestions for improving the operation of the international financial system in some sort of perspective.