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

August 1, 2002
Bank of Japan
Financial Markets Department

Table: Bank of Japan Operations in the Money Markets (July 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                  
7/1 Bills-sales 7/3 7/22 5,000 22,170 5,002 0.005 0.005 89.6
2 JGBs-borrowing 7/4 8/27 4,000 8,313 4,001 0.004 0.006 26.0
2 Bills-purchases-Head 7/3 8/15 5,000 16,200 5,001 0.004 0.004 90.9
2 Bills-purchases-All 7/4 11/27 8,000 28,044 8,005 0.005 0.006 70.8
3 JGBs-borrowing 7/5 9/5 4,000 10,301 4,004 0.003 0.004 25.4
3 CP-purchases 7/5 8/23 4,000 8,615 3,965 0.002 0.003 33.3
5 CP-purchases 7/9 8/28 4,000 5,609 3,940 0.001 0.002 38.5
5 Bills-sales 7/9 7/22 8,000 26,280 8,005 0.004 0.004 41.6
8 JGBs-borrowing 7/10 9/6 4,000 9,240 4,005 0.003 0.003 35.2
9 Bills-sales 7/10 7/22 5,000 24,240 5,000 0.002 * 0.002 -
9 Bills-purchases-All 7/11 12/5 8,000 29,506 8,006 0.005 0.005 35.4
10 CP-purchases 7/12 9/6 4,000 3,084 3,084 0.001 * 0.001 -
10 Bills-sales 7/12 7/29 5,000 20,580 5,003 0.002 0.002 87.3
11 JGBs-borrowing 7/15 9/11 4,000 9,011 4,003 0.004 0.004 84.2
11 Bills-purchases-Head 7/12 10/15 9,000 25,900 9,003 0.003 0.004 81.2
12 Bills-sales 7/16 7/29 8,000 22,870 8,004 0.003 0.002 34.1
15 Bills-purchases-All 7/17 12/13 8,000 25,418 8,005 0.005 0.005 73.5
15 Bills-sales 7/17 8/2 5,000 18,280 5,004 0.003 0.003 67.3
16 CP-purchases 7/18 9/13 4,000 2,430 2,430 0.001 * 0.001 -
16 Bills-sales 7/17 8/2 5,000 19,500 5,005 0.003 0.003 48.9
18 JGBs-borrowing 7/22 9/13 4,000 7,173 4,002 0.003 0.003 55.5
18 Bills-purchases-Head 7/22 10/23 5,000 19,655 5,002 0.003 0.003 36.0
19 Bills-purchases-Head 7/22 11/6 8,000 17,675 8,005 0.003 0.003 68.3
19 Bills-sales 7/23 8/2 8,000 27,300 8,007 0.003 0.003 47.4
22 Bills-purchases-All 7/24 12/18 8,000 29,275 8,002 0.003 0.005 11.0
23 JGBs-borrowing 7/25 9/25 4,000 6,790 4,001 0.004 0.004 86.5
23 CP-purchases 7/25 9/19 4,000 1,856 1,856 0.001 * 0.001 -
24 JGBs-borrowing 7/26 9/26 4,000 5,702 4,002 0.001 0.001 64.2
24 CP-purchases 7/26 9/25 4,000 110 110 0.001 * 0.001 -
24 Bills-purchases-Head 7/25 11/12 9,000 24,369 9,003 0.003 0.003 83.7
25 Bills-purchases-All 7/29 12/25 6,000 20,055 6,005 0.002 0.003 26.4
26 JGBs-borrowing 7/30 10/4 4,000 3,844 3,844 0.001 * 0.003 -
26 Bills-sales 7/29 8/12 5,000 17,870 5,005 0.002 0.002 63.8
26 Bills-sales 7/30 8/12 7,000 25,320 7,005 0.002 0.002 95.3
29 Bills-sales 7/31 8/20 8,000 25,940 8,004 0.002 0.002 74.2
30 Bills-purchases-Head 8/1 11/15 5,000 17,179 5,002 0.003 0.003 88.1
31 JGBs-borrowing 8/2 10/9 4,000 6,705 4,004 0.001 0.002 48.7
31 Bills-sales 8/1 8/12 8,000 33,050 8,002 0.002 0.002 67.8

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                
7/4 Outright purchases 7/9 7,000 35,211 7,010 0.000 0.000 30.5
5 Outright purchases 7/10 7,000 37,225 7,019 0.000 0.000 34.7
11 Outright purchases 7/16 7,000 44,116 7,010 0.001 0.001 51.9
12 Outright purchases 7/17 7,000 33,721 7,013 0.001 0.001 55.0
18 Outright purchases 7/23 7,000 43,365 7,002 0.002 0.002 58.1
19 Outright purchases 7/24 7,000 40,879 7,006 0.002 0.002 57.9
25 Outright purchases 7/30 7,000 32,531 7,014 0.000 0.000 23.5
26 Outright purchases 7/31 7,000 28,336 7,015 -0.001 -0.001 36.5

(Memo)

Outright purchase and sales operations of JGBs
The Bank of Japan offered outright purchase operations of JGBs worth 250 billion yen on July 3, 250 billion yen on July 10, 250 billion yen on July 17 and 250 billion yen on July 24. The purchases were exercised at 250.8 billion yen on July 8, 245.9 billion yen on July 15, 251.0 billion yen on July 22 and 250.5 billion yen on July 29, 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.