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Change in the Release Schedule of "Financial System Report"

March 13, 2007
Bank of Japan

he Bank of Japan has decided to publish theFinancial System Report twice a year, every spring and fall, from the March 2007 issue, which was previously published every summer after 2005.

TheFinancial System Report continues to be prepared by the Financial Systems and Bank Examination Department.

Introduction of the March 2007 issue

The Bank of Japan has published theFinancial System Report every summer since 2005 with two primary objectives. The first is to present a comprehensive analysis and assessment of the stability and the functioning of Japan's financial system. The second is to facilitate communication with concerned parties in order to enhance the stability and functioning of the financial system and thereby contribute to the long-term stability of the financial system and the sound development of the economy.

The Bank has decided to publish theFinancial System Report twice a year, every spring and fall. This aims at further enhancing research activity on the financial system and publishing research results in a more timely manner. This first semiannual issue, the March 2007 issue, assesses the current state of Japan's financial system and analyzes its functioning and robustness. The next issue, which is to be published this fall, is planned to provide a more comprehensive analysis on various issues related to the financial system, including the business strategies of Japanese financial institutions.

In macroprudential research, it is deemed important to appropriately assess the functioning and the robustness of the financial system as a whole. Regarding the functioning of the financial system, it is necessary to assess whether it promotes a more efficient allocation of economic resources, thereby contributing to the sound development of the economy. Regarding its robustness, on the other hand, it is necessary to examine to what extent the financial system is robust to imbalances and vulnerabilities that may impede sustained economic growth. Macroprudential research is also useful in assessing the functioning of the transmission channels of monetary policy.

The Bank is determined to make continued efforts to ensure the stability of Japan's financial system and enhance its functioning. To this end, the Bank will continue to analyze Japan's financial system, publish the results of its research, and take appropriate policy measures.