Bank of Japan launches updated payments platform
Revamped BoJ-NET system part of push to make yen assets more attractive to foreign investors
The Bank of Japan (BoJ) launched its updated payments system, BoJ-NET, today (October 13), nearly six years after announcing the revamp.
The system, first launched in 1988, is used to process the settlement of funds and Japanese government bonds (JGBs). Updates taking effect this week include the introduction of ISO 20022 and longer operating hours.
The move, part of a push by the central bank and the government to spur demand for yen and financial assets overseas, follows the launch of the
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