TOKYO, Dec. 2 (Xinhua) -- The Bank of Japan (BOJ) on Tuesday rolled out a series of emergency measures to ease tight corporate credit as the ongoing global financial turmoil makes it difficult for companies to raise operating capital.

    During an extraordinary policy meeting, BOJ's eight-member policy board decided to start accepting BBB-rated corporate debt as eligible collateral on Dec. 9, easing the conditions for eligible collateral currently set at A-rated or higher.

    In addition, the central bank will provide an unlimited amount of funds at an interest rate of 0.3 percent against the value of corporate debt pledged as eligible collateral.

    At a press conference held after the meeting, BOJ Governor Masaaki Shirakawa estimated that the move is to provide some 3 trillion yen (32 billion U.S. dollars) to companies via financial institutions by the end of fiscal 2008.

    He said that financial conditions have become more adverse for companies, and small firms in particular, as they are pinched for funds.

    At the meeting, the policy board also decided to hold the key short-term interest rate unchanged at 0.3 percent.