The Bank of Japan took another step into the unknown at its Policy Board meeting Tuesday, effectively committing itself to purchasing risk assets in a bid to transform how small and medium-size companies secure funding.
In a rare move, the BOJ asked market participants for input on its plan to buy securities backed by small enterprise assets. It is asking for comments by May 9.
The measure, which will be in effect for a few years, is designed to help smaller companies obtain financing and free up cash at banks for loans to new businesses.