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I. Transforming the Environment for Japan's Financial Sector
II. The Aim of the Financial System Reform
- Contributing to the Vitalization of Japan's Economy
III. Matters that Should be Addressed
- Towards a Market that Clearly Reflects Users' Choice
1. Liberalizing and Diversifying
Products, Businesses, Organizational Structures
2. Preparing the Infrastructure and Rules for Markets and Transactions
3. Securing the Financial System's Soundness
i. Liberlization and Diversification of
Products, Businesses, and Organizational Structures
1. Utilizing a Holding Company System
2. Asset Backed Securities (ABS): Transforming Loans
and Other Assets Into Liquid Forms
3. Derivatives Transactions
4. Sales of Securities Investment Trusts
5. Sales of Insurance Products
6. Reconsidering of the Business Scope
for the Subsidiaries of Entities in Different Financial Industries
and Preventative Measures Against Harmful Effects
7. Abolishing Restrictions on the Short- and Long- Term
Finance System for Commercial Banking
8. The Specialized Foreign Exchange Bank System
9. The Role of Regional Financial Institutions
10. Electronic Money and Electronic Payment Systems
11. Diversification of Non-bank's Funding
ii. Preparing Rules and Infrastructure for Markets and Transactions
1. Financial Futures Transactions
2. The Short-term Money Market
3. The Accounting System
4. Protecting Users
iii. Securing the Soundness of the Financial System
1. Introducing Prompt Corrective Action (PCA)
2. Promoting Reduction of Settlement Risk
V. Legal Matters Involved in the Development of Financial System Reform
VI. Points to be Considered in Promoting Reform
Summery of the Report Regarding the Reform of the Japanese Financial System