The sale of stocks to the Bank of Japan by commercial banks alleviates the potential negative impact on their financial position and enhances their risk-taking capability. In the course of taking these unconventional measures, we have learned a number of new things. Among these, let me share with you two of them. First is the side effect of quantitative easing.
These sorts of initiatives typically involve trying to remove the various small impediments that individual countries have (sometimes unintentionally) put in the way of investors, and progress towards the mutual recognition of regulatory frameworks in differing countries.