Jun.21.2004

Japanese Bankers Association

Reports by the Study Group on the Financial System Published (only in Japanese)

The Study Group on the Financial System (established by JBA and headed by Professor Keimei Kaizuka of Chuo University) compiled and published reports based on their fiscal 2003 studies. The contents of their studies can provide a foundation for policy recommendations.

-Report of the first subgroup "Policies for Asset Deflation"

The first subgroup (subgroup leader: Professor Yoshinori Shimizu, Hitotsubashi University) studied how to resolve asset deflation, an urgent issue in today's Japanese economy. The composition of the report is as follows.

Policy Proposal by the first subgroup of the Study Group on the Financial System : "Possible Measures to Solve Asset Deflation"
Chapter 1: Policies for Asset Deflation
Chapter 2: Concentration of Banks and Lending under the 1927 Banking Law
Chapter 3: Demand for Liquidity by Banks and Monetary Policy
Chapter 4: Bank Failures and Changes in Stock Prices of Their Borrowers
Chapter 5: Relation between Risks for Banks and Capital Adequacy Ratio
Chapter 6: Causes behind the Decline in Cities and Measures for Redevelopment

-Report of the second subgroup "Debt Management in the Public Sector and Public Finance"

The second subgroup (subgroup leader: Professor Toshihiro Ihori, University of Tokyo) deliberated on debt management and public finance, based on the position that reducing the enormous public debt is a pressing issue for the Japanese government. The composition of the report is as follows.

Chapter 1:Debt Management in the Public Sector and Public Finance
Chapter 2: Debt Management in the Public Sector and Money Flow---An Empirical Analysis using the Macro Finance Model
Chapter 3: A Study on Japanese Government Policy for Managing Government Bonds
Chapter 4: Benefits of Public Financial Institutions for the Nation
Chapter 5: Securitization of Loans and the Role of Public Finance