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On the Measures Announced by Five Central Banks on December 12, 2007

December 12, 2007
Bank of Japan

Today, the Bank of Canada, the Bank of England, the European Central Bank, the Federal Reserve, and the Swiss National Bank are announcing measures designed to address elevated pressures in short-term funding markets.

The Bank of Japan welcomes these measures and hopes that they will contribute to maintaining the functioning of the international financial markets. Meanwhile, Japan's money markets function well and the Bank will continue to conduct money market operations so appropriately as to maintain market stability, including supplying sufficient fund over the year-end.

Information on Related Actions Being Taken by Central Banks

Information on actions that will be taken by central banks is available at the following websites.

Statement by Other Central Bank