ĭuring the entire post-war era, until at least 1991, the Bank of Japan's monetary policy has primarily been conducted via its ' window guidance' (窓口指導) credit controls (which are the model for the Chinese central bank's primary tool of monetary policy implementation), whereby the central bank would impose bank credit growth quotas on the commercial banks. In the 1970s, the bank's operating environment evolved along with the transition from a fixed foreign currency exchange rate and a rather closed economy to a large open economy with a variable exchange rate. In 1949, the bank was again restructured. There was a brief post-war period during the Occupation of Japan when the bank's functions were suspended, and military currency was issued.
The Bank of Japan was reorganized in 1942 (fully only after ), under the Bank of Japan Act of 1942 ( 日本銀行法 昭和17年法律第67号), promulgated on 24 February 1942. Since its Meiji era beginnings, the Bank of Japan has operated continuously from main offices in Tokyo and Osaka. The wide street in front of the bank is part of the Mido-Suji. The Osaka branch of the Bank of Japan is seen in the top right of this 1930 aerial photograph. In 1897, Japan joined the gold standard, and in 1899 the former "national" banknotes were formally phased out. Despite some small glitches-for example, it turned out that the konjac powder mixed in the paper to prevent counterfeiting made the bills a delicacy for rats-the run was largely successful. įollowing the passage of the Convertible Bank Note Regulations (May 1884), the Bank of Japan issued its first banknotes in 1885 ( Meiji 18). The institution was given a monopoly on controlling the money supply in 1884, but it would be another 20 years before the previously issued notes were retired. A number of modifications based on other national banks were encompassed within the regulations under which the bank was founded. It has since been partly privately owned (its stock is traded over the counter, hence the stock number). A period of unanticipated consequences was ended when the Bank of Japan was founded in Meiji 15 (10 October 1882), under the Bank of Japan Act 1882 (27 June 1882), after a Belgian model. For a time both the central government and these so-called "national" banks issued money. The former han (fiefs) became prefectures and their mints became private chartered banks which, however, initially retained the right to print money. Prior to the Restoration, Japan's feudal fiefs all issued their own money, hansatsu, in an array of incompatible denominations, but the New Currency Act of Meiji 4 (1871) did away with these and established the yen as the new decimal currency, which had parity with the Mexican silver dollar. Lending Balance: 12.0266 trillion yen (or US$132.Like most modern Japanese institutions, the Bank of Japan was founded after the Meiji Restoration. Total Assets: 14.0174 trillion yen (or US$153.88 billion) įinancial information (at the end of 2008) 2017: Partnership announced with M&A advisory firm BDA Partners.2008 October: Dissolution of the existing Development Bank of Japan and establishment of a new corporation, the Development Bank of Japan Inc.1999 October: Transfer of approval of all rights and responsibilities of Japan Development Bank and Hokkaido-Tohoku Development Finance Public Corporation to the Development Bank of Japan.1999 June: Amended Development Bank of Japan Law established.1957 June: After amendment of HTDFC Law, Hokkaidō-Tōhoku Development Finance Public Corporation was merged into Development Bank of Japan.1956 June: Hokkaidō-Tōhoku Development Finance Public Corporation was formed under establishment of Hokkaidō-Tōhoku Development Finance Public Corporation Law (HTDFC Law).Consequently, Development Bank of Japan was formed
1951 April: Development Bank of Law established.1947 January: Establishment of Rehabilitation Finance Corporation.DBJ provides most of them at low and flexible interest rates, and so the default rate is very low. A large number of the clients are Japanese companies requiring basic investments. The Bank provides integrated investment and loan services to domestic and international clients. 3 Financial information (at the end of 2008).
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