The scandal-tainted Bank of Japan started afresh Wednesday under the new BOJ Law, which gives the central bank more independence from the government but requires its monetary policymaking to be more transparent.

At an entrance ceremony at the BOJ's head office in Tokyo, BOJ Gov. Masaru Hayami told new recruits who joined the central bank Wednesday to feel proud and act with a conscience. "It is regrettable indeed to have misconduct by one of our officials," Hayami said in front of the 89 new employees at the ceremony, which was closed to all but a press pool photographer and a TV camera crew. The BOJ recruited a total of 206 people nationwide. "You must be bewildered or worried by the incident immediately before joining the bank," he said. "It is the responsibility of us all, including you, to build a respectable Bank of Japan."

Yasuyuki Yoshizawa, 42, former chief manager of the Capital Markets Division of the BOJ's Credit and Market Management Department, was charged Tuesday with accepting 4.3 million yen in bribes from major banks in the form of exorbitant wining and dining and golf outings.

Prosecutors allege that he leaked market-sensitive information and offered favors in providing central bank loans. The scandal prompted Yasuo Matsushita to resign as BOJ governor and Toshihiko Fukui to step down as senior deputy governor. But, despite some press reports, none of the seven executive directors have left the central bank.

On the other hand, the central bank's supreme decision-making body was renovated under the new law. The Policy Board consists of nine members -- the governor, two senior deputy governors and six outsiders. It was formerly made up of six members, including representatives from the Finance Ministry and the Economic Planning Agency. Those two posts were abolished.

The Cabinet newly appointed three members from outside: Toshio Miki, former chairman of the trading house Nittetsu Shoji Co.; Nobuyuki Nakahara, honorary chairman of the major oil refiner Tonen Corp.; and Eiko Shinotsuka, a former professor of labor economics at Ochanomizu University.