or ibaraki prefecture. the total number of locations is about 2, 700 of 72 financial institutions. source : financial services agency. chart 10 number of temporary bank locations opened ( number of locations ) note : figures are for regional banks ( i and ii ) and shinkin banks headquartered in iwate, miyagi, or fukushima prefectures that were able to respond ( 3 regional banks i, 4 regional banks ii, and 18 shinkin banks ). source : bank of japan. chart 11 developments in boj current account balances before and after the disaster march 11, 2011→ bank of japan provided funds totaling a record high of 21. 8 trillion yen on march 14. source : bank of japan. chart 12 developments in stock prices and exchange rates before and after the disaster march 11, 2011 → source : bloomberg. initiatives based on lessons from the great east japan earthquake chart 13 1. self - help → many financial institutions have recognized the importance of backup arrangements for computer systems and headquarters'functions, striving to enhance them. 2. mutual assistance → arrangements for mutual cooperation ( in providing cash, etc. ) among financial institutions and market - level frameworks have been made and enhanced. 3. public assistance → consideration on business continuity has progressed, partly reflecting upward revisions of disaster damage estimation by national or local governments. chart 14 what is expected of financial institutions 1. enhancement of disaster preparedness → continue to review business continuity arrangements to increase feasibility by taking the opportunity of coping with actual disasters and conducting periodic emergency drills. 2. enhancement of inter - organizational cooperation → build relationships in normal times with local governments, financial institutions, firms, and monetary authorities so that they can cooperate as necessary in times of disaster. 3. enhancement of flexibility and imagination → pay attention to changes in circumstances and new risks, reviewing with flexibility and a fertile imagination to see if there is any room for improvement in arrangements.

brp / ron _ 2015 / data / ron150515a. pdf. the first is to enhance disaster preparedness. referred to as the " 6 ps " - - proper planning and preparation prevents poor performance - - it is essential to repeatedly review and improve business continuity arrangements by taking the opportunities of coping with actual disasters and by conducting periodic emergency drills. the bank practices an emergency drill every september, involving its disaster management team headed by the governor. we have continued to update the way it is conducted, for instance, by implementing the drill scenarios, including the details and extent of damage, without advance disclosure to the participants, but presenting them with the information on the spot. to improve our existing business continuity arrangements, we have reflected on lessons learned from each drill. it is essential for each financial institution to get their business continuity framework entrenched in its organization and keep working toward increasing its feasibility in times of disaster by, for example, updating the content of emergency drills and reviewing their experience under management leadership. the second is to enhance inter - organizational cooperation. when a disaster strikes, controlling the damage is key. in this connection, cooperation among related organizations matters to minimize the impact of the damage and achieve a swifter recovery. one option is to build relationships in normal times with local governments, financial institutions, utility firms as well as monetary authorities, including the bank's branches, to be able to cooperate in times of disaster as necessary. it is also important to confirm that there is no significant gap with the counterparts in their business continuity arrangements and assumed emergency situations. the third is to enhance flexibility and imagination. changes in circumstances and the emergence of new risks take place constantly. as i mentioned earlier, climate change risk has been increasingly recognized worldwide. moreover, although it is not a natural disaster, we have also observed increasing cyber security threats on a global scale in recent years. in the financial sector, cyber drills are conducted both at an international level, such as under the g7 framework, and at a domestic level, among financial institutions. national governments have also taken the lead in developing cyber countermeasures. 18 such cyber security for a work that raised alarms over cyber risk, see david e. sanger, the perfect weapon : war, sabotage, and fear in the cyber age ( london : scribe, 2018 ). principles for regulatory response to measures have become even more important with the increasing use of mobile payments. japan's national and local governments may revise their