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Extension of maturities for bills purchased in the "Outright Purchases of Bills" operation

October 30, 2002
Bank of Japan

At the Monetary Policy Meeting held today, the Policy Board of the Bank of Japan voted to approve an extension of maturities for bills purchased in the "Outright Purchases of Bills" operation from '6 months or less' to '1 year or less', with a view to facilitating the Bank's money market operations (regarding the amended text of the terms and conditions of this operation, see Attachment).

Attachment

Amendment to "Principal Terms and Conditions
Pertaining to the Purchase of Bills"

  • Paragraph 4 shall be amended as follows.

4. Bills to be Purchased

The Bank shall purchase bills issued by financial institutions whose drawers, drawees, and payees are financial institutions themselves. Drawees must have completed acceptance of the bills, and the date of maturity of eligible bills must be within six months one year from the next date of purchase.

(Supplementary Provision)

This amendment shall become effective on October 30, 2002.