The Bank of Japan (BOJ) decides and implements monetary policy with the aim of maintaining price stability. In implementing monetary policy, BOJ influences the volume of money and interest rates by means of its operational instruments, including money market operations such as buying and selling Japanese Government Bonds (JGBs), for the purpose of currency and monetary control.

To contribute to the maintenance of the financial system stability’s, BOJ conducts on-site examinations and off-site monitoring, and acts as the lender of last resort to provide liquidity as necessary.

The Bank of Japan (BOJ) is responsible for the entire operation of Japanese Government Securities (JGS), including issuance, registration, interest payment, and redemption.

The Ministry of Finance (MOF) is responsible for maintaining balance within the Japanese Government Bond (JGB) announcing upcoming JGB issues, and providing relevant tax policies.

The Financial Services Agency (FSA) is the sole regulator for the Japanese financial industry. The Securities and Exchange Surveillance Commission is FSA's enforcement arm for the securities market.

Pursuant to the Securities and Exchange Law, the Japan Securities Dealers Association (JSDA) and the five stock exchanges are self-regulating organizations that oversee and inspect day-to-day securities trading. Market surveillance is a shared responsibility of the Securities and Exchange Surveillance Commission and self-regulation organizations. The Securities and Exchange Law is the fundamental law governing securities in Japan.