Bank of Japan Head Office

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


July 1, 2002
Bank of Japan
Financial Markets Department


(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
3 
4 
4 
5 
10 
11 
11 
11 
13 
14 
14 
17 
18 
19 
19 
20 
21 
21 
21 
24 
24 
25 
25 
26 
27 
28 
28 

CP-purchases
Bills-sales
CP-purchases
Bills-sales
Bills-sales
CP-purchases
JGBs-borrowing
Bills-sales
Bills-purchases-All
Bills-sales
JGBs-borrowing
CP-purchases
Bills-sales
Bills-sales
JGBs-borrowing
Bills-purchases-All
Bills-sales
JGBs-borrowing
CP-purchases
Bills-sales
CP-purchases
Bills-sales
JGBs-borrowing
Bills-sales
Bills-sales
Bills-sales
Bills-purchases-Head
Bills-sales

6/5
6/4
6/6
6/5
6/6
6/12
6/13
6/12
6/13
6/14
6/18
6/18
6/18
6/19
6/21
6/21
6/21
6/25
6/25
6/24
6/26
6/25
6/27
6/26
6/27
6/28
7/1
7/2

7/16
6/20
7/18
6/20
7/3
7/25
7/23
7/3
11/13
6/21
7/25
7/30
7/8
7/12
8/6
11/21
7/15
8/15
8/7
7/22
8/16
7/12
8/21
7/22
7/22
7/22
10/9
7/22

4,000
4,000
4,000
9,000
5,000
4,000
4,000
6,000
5,000
8,000
4,000
4,000
9,000
7,000
4,000
8,000
6,000
4,000
4,000
9,000
4,000
6,000
4,000
7,000
7,000
4,000
5,000
5,000

6,534
18,050
4,986
33,616
24,700
3,173
11,240
18,630
25,005
18,600
10,471
3,420
24,050
20,360
12,900
22,507
15,700
8,881
6,388
19,760
3,983
11,030
9,623
14,360
10,510
9,670
15,322
16,975

3,920
4,002
3,805
9,003
5,004
3,173
3,920
6,004
5,002
8,002
4,001
3,420
9,004
7,006
4,002
8,009
6,002
4,004
3,920
9,004
3,983
5,920
4,003
7,005
7,005
3,850
5,004
5,004

0.001
0.004
0.001
0.003
0.004
0.001*
0.005*
0.003
0.005
0.003
0.005
0.001*
0.004
0.004
0.006
0.006
0.004
0.007
0.001
0.005
0.001*
0.004*
0.007
0.005
0.006
0.006*
0.005
0.006

0.002 
0.004 
0.001 
0.003 
0.004 
0.001 
0.005 
0.003 
0.005 
0.002 
0.005 
0.001 
0.003 
0.004 
0.006 
0.007 
0.003 
0.007 
0.001 
0.004 
0.001 
0.004 
0.007 
0.005 
0.006 
0.005 
0.007 
0.006 

37.8 
46.4 
77.8 
73.2 
68.6 
- 
- 
49.2 
88.6 
32.1 
60.3 
- 
30.9 
34.2 
39.0 
42.1 
21.3 
49.4 
56.3 
13.4 
- 
- 
63.3 
90.8 
85.2 
- 
30.8 
64.9
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
13 
14 
20 
21 
27 
28 

Outright purchases
Outright purchases
Outright purchases
Outright purchases
Outright purchases
Outright purchases
Outright purchases

6/11
6/18
6/19
6/25
6/26
7/2
7/3

7,000
7,000
7,000
7,000
7,000
7,000
7,000

47,883
32,454
34,811
29,850
31,744
36,338
23,194

7,002
7,006
7,011
7,011
7,022
7,008
7,021

0.003 
0.004 
0.002 
0.003 
0.003 
0.001 
0.000 

0.003 
0.004 
0.002 
0.003 
0.003 
0.001 
0.000 

96.5 
82.0 
45.7 
60.5 
34.3 
86.1 
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.
4. (a) Excludes Outright purchase and sales operation of TBs and FBs.
(b) * denote the Non-pro-rata rate, otherwise the figures denote the Pro-rata rate.
(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.



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