9:30-9:40               Opening Statement: Koichi Hamada
 

9:40-10:40             Chair: Koichi Hamada
                               Current situation of NPL in Japan, by Akiyoshi Horiuchi and Takashi Watanabe
                               Discussants: Ben Bernanke
 

10:40-11:40           Chair: Yutaka Kosai
                               Microeconomic policy possibility, by Anil Kashyap
                               Discussants: Paul Sheard
 

11:40-12:00           Speech by Heizo Takenaka, the Minister of State
11:40-12:00  Coffee Break
 

12:00-13:00           Chair: Ben Bernanke
                               Comparison between RTC and RCC, by Randall Kroszner
                               Discussants: Yuri Okina
 

13:00-14:30  Lunch
 

14:30-15:30           Chair: Anil Kashyap
                               The Link between Restructuring and Monetary/Fiscal Policies, by Ben Bernanke
                               Discussants: Takatoshi Ito
 

15:30-16:00  Coffee Break
 

16:00-18:00           Round table discussion
                               Chair: Koichi Hamada