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Establishment of the New BOJ-NET1

October 27, 2009
Bank of Japa

The Bank of Japan today decided to establish a new computer system for the Bank of Japan Financial Network System (BOJ-NET), which began operations in 1988.

The new BOJ-NET will have three main features: first, it will use the latest information technology; second, it will have high flexibility to adapt to changes in financial services and various needs; and third, it will have enhanced accessibility to cope with changes in the financial environment such as globalization of financial transactions and networking of settlement infrastructures.

The new BOJ-NET will provide basically the same functions as the current system through a new system infrastructure, while some selected functions will be improved, integrated, or abolished.

The new BOJ-NET will start operating for some areas of the Bank's business around fiscal 2013 and for the remaining areas around fiscal 2015.

Prior to the Bank's decision today, it released a public consultation document about its proposal to establish the new BOJ-NET on July 17, 2009, and invited comments from interested parties.  The comments indicated support for the Bank's proposal and there were no objections.  The framework for the new BOJ-NET is unchanged from that proposed in the public consultation document.

  1. This document is a summary excerpted and translated from the original document written in Japanese, prepared for reference purposes only.  The Japanese original is available on this web site.