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Bank of Japan Operations in the Money Markets (May 2002)

June 3, 2002
Bank of Japan
Financial Markets Department

Table: Bank of Japan Operations in the Money Markets (May 2002)(100 million yen, percent per annum)
Date
of
Offer		 Instrument (a) Date of
Exercise		 Date of
Resale
or
Repurchase		 Amount
Offered		 Amount of
Competitive
Bid		 Amount of
Successful
Bid		 Pro-rata
or
Non-pro
-rata Rate
(b)		 Average
Successful
Bid Rate		 Allocation
on a Pro-rata
Basis Rate
2002                  
5/1 Bills-sales 5/1* 5/20 8,000 19,090 8,001 0.007 0.006 60.6
1 Bills-sales 5/2 5/20 5,000 14,674 5,004 0.007 0.006 31.9
2 Bills-sales 5/2* 5/20 5,000 13,910 5,003 0.007 0.007 46.7
2 CP-purchases 5/8 6/18 4,000 7,607 3,950 0.001 0.002 8.2
2 Bills-sales 5/7 5/20 5,000 16,370 5,002 0.007 0.007 57.5
7 Bills-sales 5/7* 5/20 5,000 15,690 5,003 0.007 0.006 51.5
7 JGBs-borrowing 5/9 6/25 4,000 4,154 4,154 0.001 * 0.001 -
7 Bills-sales 5/8 5/20 5,000 12,255 5,003 0.007 0.007 44.6
8 Bills-sales 5/8* 5/20 5,000 15,120 5,005 0.007 0.007 71.9
9 Bills-sales 5/10 5/20 5,000 21,220 5,001 0.006 0.006 80.5
9 Bills-purchases-All 5/13 10/22 8,000 33,459 8,002 0.002 0.002 70.0
10 CP-purchases 5/14 6/25 4,000 4,827 3,952 0.001 0.002 60.4
10 Bills-sales 5/13 5/20 6,000 24,042 6,003 0.005 0.005 72.0
13 JGBs-borrowing 5/15 6/27 4,000 5,298 4,007 0.001 0.001 75.6
13 Bills-sales 5/14 5/20 6,000 26,370 6,008 0.004 0.004 34.3
14 Bills-sales 5/14* 5/22 7,000 28,850 7,005 0.003 0.003 70.8
14 CP-purchases 5/16 6/26 4,000 2,025 2,025 0.001 * 0.001 -
14 Bills-sales 5/15 5/23 8,000 16,550 8,004 0.004 0.003 3.6
14 Bills-sales 5/16 6/3 6,000 18,045 6,120 0.004 * 0.004 -
15 JGBs-borrowing 5/17 7/4 4,000 8,148 4,001 0.002 0.002 94.3
15 Bills-sales 5/16 6/4 6,000 16,460 6,005 0.004 0.004 93.4
16 Bills-purchases-All 5/20 10/29 8,000 34,277 8,006 0.002 0.002 25.1
17 CP-purchases 5/21 7/2 4,000 2,617 2,617 0.001 * 0.001 -
17 Bills-sales 5/21 6/3 7,000 22,780 7,005 0.004 0.003 16.6
17 Bills-purchases-Head 5/21 9/12 5,000 18,600 5,001 0.002 0.002 90.9
20 JGBs-borrowing 5/22 7/5 4,000 9,050 4,006 0.002 0.002 90.5
20 Bills-sales 5/21 6/4 7,000 22,110 7,004 0.003 0.003 91.5
20 Bills-purchases-Head 5/22 9/13 5,000 15,500 5,002 0.002 0.002 83.4
21 Bills-sales 5/22 6/3 6,000 10,480 6,002 0.004 0.003 33.9
21 Bills-purchases-All 5/23 11/7 8,000 34,593 8,008 0.002 0.002 25.4
22 JGBs-borrowing 5/24 7/9 4,000 8,142 4,005 0.002 0.002 55.4
22 CP-purchases 5/24 7/5 4,000 3,873 3,873 0.001 * 0.001 -
22 Bills-sales 5/23 6/4 8,000 17,610 8,004 0.004 0.004 50.9
23 Bills-sales 5/24 6/10 8,000 19,090 8,003 0.005 0.004 51.4
24 CP-purchases 5/28 7/9 4,000 2,030 2,030 0.001 * 0.001 -
27 CP-purchases 5/29 7/12 4,000 2,130 2,130 0.001 * 0.001 -
27 Bills-sales 5/28 6/10 5,000 14,720 5,003 0.005 0.005 31.9
28 JGBs-borrowing 5/30 7/10 4,000 9,801 4,006 0.002 0.003 22.3
28 Bills-sales 5/30 6/12 6,000 15,050 6,004 0.005 0.005 50.4
29 Bills-sales 5/30 6/17 6,000 14,350 6,003 0.006 0.005 30.5
30 Bills-sales 5/31 6/10 5,000 14,610 5,002 0.005 0.005 67.7
30 Bills-purchases-Head 6/3 9/19 5,000 12,010 5,004 0.002 0.002 43.3
31 Bills-purchases-Head 6/4 9/17 5,000 9,010 5,002 0.002 0.002 70.5

Outright Purchases and Sales Operation of TBs and FBs

Table: Outright Purchases and Sales Operation of TBs and FBs(100 million yen, percent per annum)
Date
of
Offer		 Instrument Date of
Exercise 		Amount
Offered		 Amount of
Competitive
Bid 		Amount of
Successful
Bid		 Pro-rata
or
Non-pro
-rata
Yield Spread
(c)		 Average
Successful
Yield Spread 		Allocation
on a Pro-rata
Basis Rate
2002                
5/1 Outright purchases 5/8 8,000 47,208 8,017 0.001 0.001 22.4
9 Outright purchases 5/14 8,000 30,740 8,010 0.002 0.002 44.9
10 Outright purchases 5/15 8,000 40,725 8,019 0.001 0.001 45.8
16 Outright purchases 5/21 8,000 62,798 8,037 0.001 0.001 14.5
17 Outright purchases 5/22 8,000 56,822 8,014 0.002 0.002 30.3
23 Outright purchases 5/28 8,000 50,192 8,014 0.002 0.002 55.3
24 Outright purchases 5/29 8,000 45,416 8,009 0.002 0.002 91.8
30 Outright purchases 6/4 8,000 46,314 8,023 0.001 0.002 8.9
31 Outright purchases 6/5 8,000 46,567 8,032 0.001 0.001 12.4

(Memo)

Outright purchase and sales operations of JGBs
The Bank of Japan offered outright purchase operations of JGBs worth 250 billion yen on May 7, 250 billion yen on May 15, 250 billion yen on May 21, and 250 billion yen on May 27. The purchases were exercised at 250.4 billion yen on May 10, 260.7 billion yen on May 20, 250.5 billion yen on May 24, and 250.7 billion yen on May 30, respectively.

NOTES:

  1. Bills-sales : Outright Sales of Bills Drawn by BOJ
    Bills-purchases-Head : Outright Purchases of Bills at Head Office
    Bills-purchases-All : Outright Purchases of Bills at All Offices
    JGBs-borrowing : Borrowing of JGBs against Cash Collateral (JGB Repos)
    TBs/FBs-purchases : Purchases of TBs/FBs under Repurchase Agreements
    CP-purchases : Purchases of CP under Repurchase Agreements
    TBs/FBs-sales : Sales of TBs/FBs under Repurchase Agreements
    JGBs-purchases : Purchases of JGBs under Repurchase Agreements
    Outright purchases : Outright Purchases of TBs/FBs
    Outright sales : Outright Sales of TBs/FBs
  2. * denote the date when the offer and the exercise were done in the same day.
  3. "Amounts offered" shows planned amounts on offer days.
    1. (a) Excludes Outright purchase and sales operation of TBs and FBs.
    2. (b) * denote the Non-pro-rata rate, otherwise the figures denote the Pro-rata rate.
    3. (c) The difference between the yield at which operation counterparties want to sell (purchase) and the corresponding yield determined by the Bank of Japan with prevailing market yield taken into account ("yield spread") is used for an auction.
      * denote the Non-pro-rate yield spread,otherwise the figures denote the Pro-rate yield spread.