I would like to express my respect for FISC's many years of service and extend my heartfelt congratulations on the 35th Anniversary. Today, I would like to talk about payments innovations and the roles of central banks. Recently, there have been various changes in Japanese retail payments: person-to-person payments and merchant-to-person payments.
Based on the recommendations in these respects and the feedback from market participants, the RBI worked closely with Government to facilitate fine-tuning of the operating procedures and instruments to meet the new challenges.