The Japanese Foreign Exchange MarketIn recent years, Japan's financial market has seen dramatic changes, in particular the explosive growth of currency trading and the increasing international role of the yen. This book gives a comprehensive overview of this activity. This work is the first non-Japanese language title to examine the prolific rise of Japan's foreign currency exchange market, its idiosyncracies, and its future role in the global economy. It is vital reading for economists and students of Japan-related subjects. |
Contents
In the Aftermath of the Bubble | |
3 Trading volume in the Tokyo foreign exchange market | |
Customers | |
6 Transactions through brokers in major foreign exchange markets | |
DERIVATIVES | |
1 Computerisation expenditures of Japanese financial institutions | |
Market Linkages and Operational Risks | |
PAYMENT SYSTEM RISKS | |
1 National payment systems in international comparison | |
7 Risk control measures in major net settlement systems | |
MARKET REGULATION | |
3 Upper limits for life insurers investments in foreign securities | |
MARKET RISKS | |
8 The Big Four in Japans securities markets | |
6 Maturity breakdown of outright forward and swap transactions | |
9 Derivative financial instruments traded on organised exchanges | |
ATTITUDES TOWARDS RISKS | |
2 Life insurance companies foreign securities | |
1 Longterm volatility of effective exchange rates | |
EXCHANGE RATE STABILISATION | |
2 Foreign Exchange Fund Special Account balance sheet | |
5 Functions of an international currency | |
CONCLUSION | |
Bibliography | |
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Common terms and phrases
activities amount analysis assets attractor authorised foreign exchange Bank for International Bank of England Bank of Japan Bank of Tokyo bank’s billion brokers capital cent central bank companies contracts countries country’s D-mark Dai-Ichi Kangyo Bank derivatives trading detail Deutsche Bundesbank dollar domestic economic Economist euroyen example exchange rate exchange rate changes Fedwire FEYCS financial institutions financial markets firms foreign banks foreign currency foreign exchange banks foreign exchange market foreign exchange trading Fuji Bank funds futures hedge industrial instruments interbank interest rate International Settlements 1996a interventions investment investors Japanese banks Japanese yen keiretsu liberalisation long-term credit banks losses market participants market risks Ministry of Finance Mitsubishi models monetary policy Nikkei normal distribution official overseas payment system portfolio position regulation respect result RiskMetrics rules securities settlement system share standard Sumitomo swaps system risk Table trillion trust banks turnover Viner volatility worldwide