Also, the Bank took measures such as purchases of banks’ stockholdings and provision of subordinated loans aiming at ensuring the stability of the financial system as a whole. The Bank has thus been making various efforts on the macroprudence front. Nevertheless, such efforts are only half done. For example, gauging macro risks is still not sufficient.
Since November 2014 we have also reduced the FX required reserve ratios by a total of 9 pp, with a view to unlocking the credit potential of banks.