Another topic I would like to touch on in relation to the functioning of the financial system in Japan is the enhancement of payment and settlement services. In order for Japan’s economy to achieve sustained growth, it is critical to enhance payment and settlement services in response to diverse settlement needs and globalized financial services.
One of the issues included in the government’s revised growth strategy is the enhancement of funds and securities settlement at financial institutions and firms, while utilizing the extended operating hours of the Bank of Japan Financial Network System (BOJ-NET).