Masaaki Shirakawa: Global imbalances and current account imbalances Speech by Mr Masaaki Shirakawa, Governor of the Bank of Japan, at the Banque de France Financial Stability Launch Event, Paris, 18 February 2011.
In addition to formal prescription of interest rates, public sector banks which account for over seventy per cent of banking assets in a bank-dominated economy are called upon by the majority shareholder to discharge social obligations to reflect public policy priorities, through continuous interaction and periodical reviews with chief executives.