Bank of Japan

(redirected from Central Bank of Japan)
Also found in: Dictionary, Thesaurus, Financial.
Related to Central Bank of Japan: Banque du Japon
The following article is from The Great Soviet Encyclopedia (1979). It might be outdated or ideologically biased.

Bank of Japan


central bank of issue of Japan. Established in 1882. It has a monopoly right to issue bank notes, is the banker of the government, and handles the cash execution of the budget and administration of the state debt. Bank of Japan bank notes have not been convertible into gold since December 1931. According to the law of 1942, a limit is imposed on their issue, and excesses are taxed. The Bank of Japan regulates interest rates on credit. Commercial banks are obligated (since 1957) to keep a certain proportion of their deposits in its accounts. The Bank of Japan performs the functions of a bankers’ bank, providing credit to banks by discounting promissory notes and by issuing loans. The bank invests large sums in bonds of joint-stock companies, thereby providing long-term credit. Jointly with the state monetary fund, the Bank of Japan at the beginning of 1969 owned currency reserves worth 1,046 billion yen ($2.9 billion), of which 12 percent was gold, and the rest, dollar holdings. In 1968 the Bank of Japan had 31 branches in Japan and a representative office in New York. Joint stock at the beginning of 1969 amounted to 100 million yen, of which 55 million yen belonged to the government. The remainder of the government’s deposits in the Bank of Japan totaled 74 billion yen, and investments by the Bank of Japan in state loan bonds totaled 1,434 billion yen. In the total balance at the beginning of 1969 of 4,669 billion yen, the issue of bank notes amounted to 4,042 billion yen; discounting, 340 billion yen; and loans to commercial banks, 1,223 billion yen. Deposits in bonds of joint-stock companies were 938 billion yen. On the bank’s credit side, gold totaled 31 billion yen and foreign exchange, 611 billion yen.


The Great Soviet Encyclopedia, 3rd Edition (1970-1979). © 2010 The Gale Group, Inc. All rights reserved.
References in periodicals archive ?
The head of the central bank of Japan has said that the bank has no ceiling for asset purchases.
The International Monetary Fund and the United States asked the ECB and the central bank of Japan to take steps for greater monetary stimulus and urged governments around the world to do their share to cultivate growth in their countries.
The head of the central bank of Japan has said that the economy is on the path to recovery.
The central bank of Japan has said that the nation is escaping from a deflation trap.
The central bank of Japan has become the nation's biggest creditor, according to latest reports.
The head of the central bank of Japan has asked the prime minister of the nation to intervene in order to abet growth in the nation.
The central bank of Japan has quelled hopes of a stimulus cut.
Analysts are of the belief that the central bank of Japan could have more room to ease rates.

Encyclopedia browser ?
Full browser ?