But before it comes to that, the banks have a responsibility not to engage in customer relationships if the real motives of the customers are dubious. The political agreement to strengthen anti-money laundering efforts in Denmark that was concluded in the autumn was necessary. But money laundering knows no borders. Cross-border activities call for strengthened cross-border supervision in the EU.
These operations are the most versatile among the Bank's various market operations, as it accepts various types of collateral for them. Japan's financial conditions have been accommodative on the whole (Chart 13). Although the impact of COVID-19 has remained in some segments of small and medium-sized firms in particular, financial positions, including of these firms, have been on an improving trend.