Six to seven banks spent about 7 million yen entertaining an executive of the Bank of Japan over the past five years, according to sources at the banks.
The central bank executive, who was not named, works in the credit and market management department, which is responsible for monitoring and executing operations for liquidity control in the money market, spawning allegations that he may have leaked information about the central bank’s market operations in exchange for favors in the form of entertainment.
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