P.M. BRIEFING : Bank of Japan Restructured
The Bank of Japan today announced a major restructuring aimed at strengthening the central bank’s monetary operations and its ability to monitor financial institutions at home and abroad.
The reorganization, which goes into effect May 28, will reduce the number of departments at the central bank from 18 to 16.
The reorganization is designed to help the Bank of Japan better cope with the continued globalization of financial markets.
The central bank said it will set up a “market operations” division to monitor money and capital markets and to execute daily monetary operations in a comprehensive manner.
The central bank said two divisions--the bank relations division and the capital markets division--will “oversee the activities of financial institutions both at home and abroad in their daily monitoring of banks and securities houses, respectively.”
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