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MNI BRIEF: BOJ Introduces Extra Deposit Facility For Regions

TOKYO (MNI)

The Bank of Japan has introduced a temporary 3-year long "Special Deposit Facility" to underpin the resilience of the regional financial system, helping ensure financial system stability aimed at encouraging regional financial institutions to accelerate their efforts to strengthen business foundations.

The BOJ said that the bank will pay 0.1% on excess reserves held by eligible regional financial institutions at the BOJ for three years from fiscal 2020 to fiscal 2022, adding that it will "deliberate on the details of the facility in a prompt manner. The principal terms and conditions for its implementation will be released following the Policy Board's decision."

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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