Similarly, there has been a noticeable increase in the maturity of banks’ other debt liabilities since 2007 (Graph 6). Of particular note, the share of other debt liabilities with maturities of less than three months has declined substantially. Taken as a whole, these measures have made the system more resilient.
By contrast, at present, Japan’s financial system has been maintaining stability and emerging economies in Asia have become more resilient due partly to an accumulation of foreign reserves and an establishment of safety nets. In addition, Japan’s employment situation is far more favorable than that in 1997.