In the case of the Bank of Japan, when it decided to embark on a program of purchasing corporate financing instruments in 2009, the Japanese government noted at the Monetary Policy Meeting that it intended to consult with the Bank of Japan in the context of closing its books at the end of accounting periods if the risks had materialized.
The Mauritian Banking Sector has been quite resilient to the financial market turbulence, but the interconnectedness that comes from living in a highly integrated world means that our banks are not immune to contagion effects. In the words of Ngozi Okonjo-Iweala, the managing director of the World Bank, we, in the emerging economies, are "innocent bystanders" in the global recession created by developed countries.