Yokohama Specie Bank
In 1884 the bank was appointed by the Ministry of Finance to manage Japan's foreign exchange. A branch office in London was opened in December. In July 1887, the government promulgated the Yokohama Specie Bank Ordinance, which stipulated that branch offices be established everywhere that was regarded as important to Japanese foreign trade and authorized that an administrator from the Ministry of Finance would be assigned to monitor the bank's operations. This Ordinance was revised in 1889 to authorize the Japanese government to overrule any decision by its directors, and if deemed necessary, to replace the directors with others of its choosing.