The dynamic process of divesting the economy of its old systems and giving birth to new ones unavoidably involves great uncertainties. Therefore, it is also essential to reconstruct Japan’s financial system as promptly as possible to support the activities of firms facing this dynamic process.
Bearing in mind the significance of financial system reconstruction, I would now like to talk about the Bank’s thoughts on this issue. 3  BIS Review 46/1999  III. Progress Toward the Reconstruction of Japan’s Financial System A.