The second area where EMEs can contribute to global prosperity is through ensuring that the G-20 forum remains meaningful and effective. When the history of this crisis is written, the London G-20 Summit in April 2009 will be seen as a clear turning point when the leaders of world showed extraordinary determination and unity in combating the deepest economic crisis of our generation.
The Bank started online operation of its funds transfer system in 1988, and of the transfer system for Japanese government securities (JGS) in 1990. As for CP, corporate bonds, and stocks, the Bank has cooperated with private-sector settlement systems to introduce online settlements as well as simultaneous settlements of securities and funds, the delivery versus payment (DVP) system.