boj minutes, 2002-01-16
This member pointed out that the Bank had been able to increase the outstanding balance of current accounts at the Bank to a level which was initially considered difficult to reach, because (1) there had been concerns about the stability of the financial system since autumn 2001, (2) liquidity demand surged in preparation for funding beyond the calendar and fiscal year-end, and (3) the intermediary functions of the money market declined due to the extremely low interest rates.
Sentiment: neutral
Topic: financial_stability