Note 1-56

(56) At its Monetary Policy Meeting on April 8, 2003, the BOJ decided to examine possible purchase of asset-backed securities. Furthermore, at the meeting on June 11 of the same year, it decided the outline of the scheme for outright purchase of asset-backed securities and to work on necessary arrangements so that the new scheme be put in place by end-July 2003. Based on this, Principle Terms and Conditions for the Outright purchase of asset-backed securities were established on June 25, 2003, and they were put into effect on July 28 of the same year.