Which central bank was established in Japan in 1882?

The Bank of Japan was established in 1882.

It was created under the Bank of Japan Act and began operations on 10 October 1882. The institution emerged during the Meiji period, when Japan was modernizing its government, economy and financial system. A national central bank was intended to bring greater order to currency issuance and banking.

The Bank of Japan issues banknotes, conducts monetary policy, provides settlement services and contributes to financial-system stability. Its notes are denominated in yen. The bank's policy board makes decisions on matters such as the monetary-policy guideline and asset-purchase operations.

The Bank of Japan is headquartered in Tokyo. It is separate from commercial banks such as Mizuho Bank and Sumitomo Mitsui Banking Corporation. A later revision of the Bank of Japan Act, effective in 1998, strengthened the bank's independence while requiring transparency and accountability.