. ii. conduct of monetary policy next, let me explain the bank ’ s conduct of monetary policy. first, the bank has been pursuing powerful monetary easing through comprehensive monetary easing. under the comprehensive monetary easing framework, the bank encourages a decline in longer - term market interest rates and a reduction in various risk premiums through the asset purchase program. at the monetary policy meeting held last week, the bank, with a view to responding to the downside risks to the economy that i bis central bankers ’ speeches described earlier, decided to increase the total size of the program by about 10 trillion yen, to about 50 trillion yen. second, the bank has been making efforts to ensure financial market stability. third, in order to meet the biggest challenge for japan ’ s economy, which is the strengthening of the foundations for economic growth, the bank has been providing funds to private financial institutions that make lending and investment consistent with the policy goal. the funds are provided against collateral such as government securities, at a very low interest rate. with a view to making this framework more effective, in june 2011 the bank decided to establish a 500 billion yen new line of credit, through which it extends loans to financial institutions for their equity investments and the so - called asset - based lending ( abl ). the bank recognizes that japan ’ s economy faces the critical challenge of overcoming deflation and returning to a sustainable growth path with price stability. based on such strong recognition, the bank will continue to consistently make contributions as the central bank through the three - pronged approach that i have explained. bis central bankers ’ speeches

##s in loan cases involving multiple lending from different banks on the same immovable property. initially transactions relating to securitization and reconstruction of financial assets and those relating to mortgage by deposit of title deeds to secure any loan or advances granted by banks and financial institutions, as defined under the sarfaesi act, are to be registered in the central registry. the records maintained by the central registry will be available for search by any lender or any other person desirous of dealing with the property. availability of such records would prevent frauds involving multiple lending against the security of same property as well as fraudulent sale of property without disclosing the security interest over such property. 17. despite the information sharing mechanisms as detailed above, if the loans still go bad, restructuring mechanisms have been spelt out to help a borrower who has a viable project or a viable business proposition. with a view to putting in place a mechanism for timely and transparent restructuring of corporate debts of viable entities facing problems, a bis central bankers ’ speeches scheme of corporate debt restructuring ( cdr ) was started in 2001 for quicker recovery / restructuring of stressed assets. 18. in the backdrop of the slowdown of the indian economy resulting into stress to a number of companies / projects and increase in non - performing assets ( npas ) and restructured accounts in the indian banking system during the recent years, a need was felt to recognise the stress in the economy early on a real time basis and take preventive and / or corrective actions in order to preserve the economic value of banks ’ assets. in view of this, the reserve bank envisaged and released the “ early recognition of financial distress, prompt steps for resolution and fair recovery for lenders : framework for revitalising distressed assets in the economy ” on january 30, 2014. the framework outlines a corrective action plan to incentivise : ( i ) early identification of problematic accounts, ( ii ) timely restructuring of accounts that are considered to be viable, and ( iii ) lenders taking prompt steps for recovery or sale of unviable accounts. 19. the framework outlines an early recognition of stress in all large value accounts and their reporting to a centralised repository at the rbi for dissemination among all the concerned lenders for taking corrective actions as per the broad guidelines given in the framework. accordingly, a central repository of information on large credits ( crilc ) has been set up in april 2014 to collect, store, and disseminate