Nippon Ginko (Bank of Japan)

By: EconomyWatch   Date: 8 September 2010

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Bank of Japan (Nippon Ginko in Japanese) is the central bank of Japan and is headquartered in Tokyo.

The Bank of Japan was founded in 1882 on the basis of the Bank of Japan Act 1882 and given a monopoly on controlling the money supply. As per the law, the bank is a juridical person. The Bank of Japan has since continued its operations unhindered, except for a temporary break in its services after the World War II.

The Bank of Japan has been established with the following mission:

  • Issuing and controlling the supply of banknotes in the country
  • Implementing the monetary policy with a view to ensuring price stability
  • Ensuring the stability of the country's financial system
  • Compiling data, economic analyses, and research activities in order to benefit the economic agents
  • Treasury and government security related operations

As per the Bank of Japan Act, the bank's objective is "to issue banknotes and to carry out currency and monetary control" and "to ensure smooth settlement of funds among banks and other financial institutions, thereby contributing to the maintenance of an orderly financial system."

The Policy Board is the bank's highest decision-making body. The policy board is responsible for deciding on the guidelines for currency and monetary control, setting the fundamental parameters for the execution of bank's operations and overseeing the fulfillment of the duties of bank executives.

The Bank is headed by a Governor. The Governor of the bank has considerable influence over the policies of the Japanese government.

The Address and Contact details of the bank is as follows:

Bank of Japan

Address: C.P.O. 203 Tokio 100-91 JAPAN
Phone No.: ++81-3-32 79 11 11 
Fax: ++81-3-52 00 22 56 

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