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That article is bassakwards.
The BOJ is paying the Japanese banks to take money from it.
The BOJ wants to devalue the Yen.
Why: to lower the price of Japanese exports.
Devaluation is the only ''hidden tax'' here.
You really think banks would charge to keep your money? WHY? Because they can BORROW that money from the BOJ (or other central bank) and put all their risk in one place? You don't understand banking that is obvious.
Better to have 1000's of depositors and a deposit withdraw risk spread than on giant debt subject to rate change or loan call like you would have with a central bank. That is a every Bank's risk aversion policy.
To put this on a simpleton level:
Would you rather borrow from 10 people you know or one guy with a baseball bat backed by the government?
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