Summary
Bank of Japan operates as the central bank of Japan. The company's activities include deciding and implementing monetary policy; ensuring settlement of funds among banks and other financial institutions, thereby contributing to the maintenance of financial system stability; enhancement of payment and settlement systems, and market infrastructure; and issuance, circulation, and maintenance of banknotes and coins. It also offers foreign exchange transactions, including those executed as part of the bank's management of its foreign currency assets, as well as business related to assisting other central banks and international organizations in their investment in yen; and handling government affairs that relate to international finance, such as the compilation and dissemination of Japan's balance of payments statistics and foreign exchange intervention. In addition, the company provides various services relating to the government, such as receipt, disbursement, and accounting of treasury funds; management of the deposits of the Japanese government; custody of securities acquired by or submitted to the government; issuance of, and principal and interest payment on, Japanese government securities; and operations relating to its role as the book entry transfer institution in the Japanese government bond book-entry system. Further, it releases the minutes of monetary policy meetings and public statements on the policy board decisions in a timely manner for communication with the public. The company operates 32 branches, 7 overseas representative offices, and 14 local offices. Bank of Japan was founded in 1882 and is headquartered in Tokyo, Japan.
History
The Bank of Japan was established in 1882 as a national bank with the mission of managing Japan’s monetary and fiscal policies. It was initially based on western banking models and served as the sole bank of issue in Japan until 1942, when it was nationalized and placed under the direct control of the Finance Ministry. Since 1948, it has been an independent institution, operating under the direct control of the government but guided by professional expertise, and carrying out regulatory and other functions on its own responsibility.
Mission
The mission of the Bank of Japan is to foster a sound and resilient financial system in order to contribute to economic growth and a stable domestic currency. The Bank seeks to promote the stability and order of the banking system, the efficient functioning of the payments system, and the development of a sound and healthy financial environment that contributes to the soundness and stability of the Japanese economy.
Vision
The Bank of Japan’s vision is to be the best central bank for the people of Japan, striving to bring about a strong and prosperous economy and to secure long-term financial stability for the country.
Key Team
Fumikazu Taniguchi (Director-Gen. of Admin. Department)
Shinobu Nakagawa (Director-Gen. of PR Department)
Seiichi Shimizu (Exec. Director, Head of Markets Department & Monetary Policy)
Tetsuya Sakamoto (Director-Gen. of Personnel & Corp. Affairs Department and Auditor)
Mr. Shinichi Uchida (Exec. Director)
Shinichiro Hayashi (Director-Gen. of Operations Department)
Yasuhiro Nakaone (Director-Gen. for Management Strategy, Budget & Accounting)
Recognition and Awards
The Bank of Japan has received numerous awards and recognition for its work. It has been recognized by the Bank of International Settlement for its “outstanding contribution to the establishment and development of the international banking system”, and has received the Medal of Honor from the Japanese government for its contributions to financial services and economic development.
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