The Bank of Japan, the Bank of Canada, and several other foreign central banks have also used their ability to pay interest on reserves to maintain a floor under short-term market rates.
Different policies need to be applied to the existing micro credit institutions, taking into consideration of each specific situation. Those qualified institutions that survive the adjustment or reconstructing should be allowed to stay in the market and continue to receive financial support. In the meantime, more market-based financial institutions specializing in micro credit business should be cultivated. 3.