Recent interventions by governments and the ECB, in particular the OMT, have shown a credible commitment to maintaining the integrity of the region, but important structural changes will need to be made in the medium to long term.
After close investigation of the present environment surrounding corporate financing and careful examination of the range of CP to be accepted under this exceptional measure and the measure's duration, the Bank decided, at the MPM held on January 21 and 22, 2009, to introduce outright purchases of CP and asset-backed CP (ABCP) for a total outstanding amount not exceeding 3 trillion yen until the end of March 2009.