Central Banking

Bank of Japan launches updated payments platform

bank-of-japan-new
The Bank of Japan

The Bank of Japan (BoJ) will launch its updated payments system, BoJ-NET, tomorrow (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 ISO20022 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

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