May 31, 2012
Financial Markets Department

100 million yen

­			Preliminary figures	Previous year
Banknotes 1			19,060	23,214
Treasury funds and others 2			-102,785	-101,327
­	Net fiscal payments		-7,335	-8,459
	JGBs(over one year)		-82,580	-82,506
	Treasury discount bills		-12,035	-11,923
	Foreign exchange		-1,225	21
	Others		390	1,540
Surplus/shortage of funds 3			-83,725	-78,113
BOJ Loans and Market Operations			29,295	22,746
­	BOJ Loans and Market Operations (excluding the Asset Purchase Program)		12,040	9,271
		Market operations	12,040	9,265
		Fund-provisioning measure to support strengthening the foundations for economic growth 4	0	0
		Loans 5	0	6
	BOJ Loans and Market Operations (Asset Purchase Program)		17,255	13,475
Net change in current account balances			-54,430	-55,367
	Net change in reserve balances		-41,940	-57,779
Amount outstanding
Banknotes, end of month			802,535	788,405
(Average)			(807,450)	(794,811)
BOJ loans, end of month 5			35	39

^{Notes :}

1.	Negative figures represent a net increase in banknotes in circulation.
2.	Negative figures represent a net receipt of treasury funds and others.
3.	Negative figures represent a shortage of funds in money markets.
4.	"Fund-provisioning measure to support strengthening the foundations for economic growth" in this chart includes loans disbursed pursuant to the special rules for equity investments and asset-based lending.
5.	"Loans" in this chart means the loans under Complementary Lending Facility.

Banknotes Outstanding

Percent changes from previous year

­	Nov. 2011	Dec.	Jan. 2012	Feb.	Mar.	Apr.	May
End of period	2.3	2.0	2.1	2.1	-0.1	1.2	1.8
Average	2.4	2.3	2.3	2.2	0.9	0.9	1.6

Inquiries

Market Operations Division, Financial Markets Department

Tel : +81-3-3277-1362
Tel : +81-3-3279-1111 (Ext. 2830)