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

July 1, 2002
Bank of Japan
Financial Markets Department

Table: Bank of Japan Operations in the Money Markets (June 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                  
6/3 CP-purchases 6/5 7/16 4,000 6,534 3,920 0.001 0.002 37.8
3 Bills-sales 6/4 6/20 4,000 18,050 4,002 0.004 0.004 46.4
4 CP-purchases 6/6 7/18 4,000 4,986 3,805 0.001 0.001 77.8
4 Bills-sales 6/5 6/20 9,000 33,616 9,003 0.003 0.003 73.2
5 Bills-sales 6/6 7/3 5,000 24,700 5,004 0.004 0.004 68.6
10 CP-purchases 6/12 7/25 4,000 3,173 3,173 0.001* 0.001 -
11 JGBs-borrowing 6/13 7/23 4,000 11,240 3,920 0.005* 0.005 -
11 Bills-sales 6/12 7/3 6,000 18,630 6,004 0.003 0.003 49.2
11 Bills-purchases-All 6/13 11/13 5,000 25,005 5,002 0.005 0.005 88.6
13 Bills-sales 6/14 6/21 8,000 18,600 8,002 0.003 0.002 32.1
14 JGBs-borrowing 6/18 7/25 4,000 10,471 4,001 0.005 0.005 60.3
14 CP-purchases 6/18 7/30 4,000 3,420 3,420 0.001* 0.001 -
17 Bills-sales 6/18 7/8 9,000 24,050 9,004 0.004 0.003 30.9
18 Bills-sales 6/19 7/12 7,000 20,360 7,006 0.004 0.004 34.2
19 JGBs-borrowing 6/21 8/6 4,000 12,900 4,002 0.006 0.006 39.0
19 Bills-purchases-All 6/21 11/21 8,000 22,507 8,009 0.006 0.007 42.1
20 Bills-sales 6/21 7/15 6,000 15,700 6,002 0.004 0.003 21.3
21 JGBs-borrowing 6/25 8/15 4,000 8,881 4,004 0.007 0.007 49.4
21 CP-purchases 6/25 8/7 4,000 6,388 3,920 0.001 0.001 56.3
21 Bills-sales 6/24 7/22 9,000 19,760 9,004 0.005 0.004 13.4
24 CP-purchases 6/26 8/16 4,000 3,983 3,983 0.001* 0.001 -
24 Bills-sales 6/25 7/12 6,000 11,030 5,920 0.004* 0.004 -
25 JGBs-borrowing 6/27 8/21 4,000 9,623 4,003 0.007 0.007 63.3
25 Bills-sales 6/26 7/22 7,000 14,360 7,005 0.005 0.005 90.8
26 Bills-sales 6/27 7/22 7,000 10,510 7,005 0.006 0.006 85.2
27 Bills-sales 6/28 7/22 4,000 9,670 3,850 0.006* 0.005 -
28 Bills-purchases-Head 7/1 10/9 5,000 15,322 5,004 0.005 0.007 30.8
28 Bills-sales 7/2 7/22 5,000 16,975 5,004 0.006 0.006 64.9

Outright Purchases and Sales Operation of TBs and FBs

Table: Outright Purchases and Sales Operation of TBs and FBs
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                
6/6 Outright purchases 6/11 7,000 47,883 7,002 0.003 0.003 96.5
13 Outright purchases 6/18 7,000 32,454 7,006 0.004 0.004 82.0
14 Outright purchases 6/19 7,000 34,811 7,011 0.002 0.002 45.7
20 Outright purchases 6/25 7,000 29,850 7,011 0.003 0.003 60.5
21 Outright purchases 6/26 7,000 31,744 7,022 0.003 0.003 34.3
27 Outright purchases 7/2 7,000 36,338 7,008 0.001 0.001 86.1
28 Outright purchases 7/3 7,000 23,194 7,021 0.000 0.000 64.3

(Memo)

Outright purchase and sales operations of JGBs
The Bank of Japan offered outright purchase operations of JGBs worth 250 billion yen on June 4, 250 billion yen on June 10, 250 billion yen on June 17 and 250 billion yen on June 24. The purchases were exercised at 251.1 billion yen on June 7, 263.6 billion yen on June 13, 250.2 billion yen on June 20 and 250.7 billion yen on June 27, 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.