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

September 2, 2002
Bank of Japan
Financial Markets Department

Table: Bank of Japan Operations in the Money Markets (August 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                  
8/1 Bills-sales 8/2 8/20 4,000 22,000 4,007 0.002 0.002 16.3
1 Bills-purchases-Head 8/5 11/19 8,000 24,550 8,003 0.002 0.002 53.1
2 JGBs-borrowing 8/6 10/11 4,000 7,716 4,004 0.001 0.001 40.3
2 Bills-purchases-All 8/6 2003/1/16 10,000 24,750 10,003 0.002 0.002 50.6
5 CP-purchases 8/7 10/4 4,000 6,582 3,930 0.003 0.004 67.9
5 Bills-sales 8/6 8/20 8,000 31,790 8,002 0.001 0.001 89.5
6 Bills-sales 8/7 8/20 8,000 32,100 8,002 0.001 0.001 66.7
6 Bills-purchases-All 8/8 2003/1/21 10,000 25,313 10,011 0.001 0.002 17.8
7 JGBs-borrowing 8/9 10/17 4,000 6,225 4,004 0.001 0.001 63.1
7 Bills-sales 8/8 8/16 5,000 25,800 5,008 0.001 0.001 21.0
7 Bills-purchases-Head 8/9 11/26 5,000 11,100 5,005 0.001 0.001 45.1
8 CP-purchases 8/12 10/11 4,000 5,531 3,970 0.001 0.001 65.0
8 Bills-sales 8/9 8/20 9,000 47,620 9,005 0.001 0.001 26.0
8 Bills-purchases-Head 8/12 12/6 5,000 9,599 5,007 0.001 0.001 52.2
9 Bills-sales 8/12 8/20 7,000 39,900 7,008 0.001 0.001 22.3
9 Bills-purchases-All 8/13 2003/1/23 10,000 19,410 10,011 0.001 0.001 51.3
12 Bills-sales 8/13 8/22 9,000 36,250 9,000 0.001 0.001 40.0
12 Bills-sales 8/15 8/26 9,000 34,780 9,004 0.001 0.001 47.4
13 Bills-purchases-All 8/15 2003/1/28 9,000 9,566 9,005 0.001 0.001 94.0
13 Bills-sales 8/14 9/2 7,000 22,800 7,002 0.001 0.001 69.3
13 Bills-sales 8/15 9/4 9,000 32,280 9,004 0.001 0.001 80.8
14 CP-purchases 8/16 10/17 4,000 4,092 4,092 0.001 * 0.001 -
14 Bills-sales 8/15 8/19 5,000 19,500 5,004 0.001 0.001 28.9
14 Bills-sales 8/15 9/4 7,000 17,830 7,002 0.002 0.001 6.6
15 Bills-purchases-Head 8/19 12/11 5,000 7,660 5,005 0.001 0.001 65.3
16 JGBs-borrowing 8/20 10/15 4,000 5,260 4,006 0.001 0.001 74.4
16 Bills-sales 8/19 9/4 6,000 25,850 6,004 0.001 0.001 67.5
19 Bills-sales 8/20 8/23 5,000 26,800 5,006 0.001 0.001 20.7
19 Bills-purchases-All 8/21 2003/2/5 10,000 8,921 8,921 0.001 * 0.001 -
20 Bills-sales 8/21 9/4 9,000 33,300 9,008 0.001 0.001 52.1
20 Bills-purchases-Head 8/22 12/19 5,000 2,620 2,620 0.001 * 0.001 -
21 CP-purchases 8/23 10/9 4,000 1,954 1,954 0.001 * 0.002 -
21 Bills-sales 8/22 9/4 6,000 18,516 6,003 0.001 0.001 55.8
23 Bills-sales 8/26 9/4 6,000 23,650 6,003 0.001 0.001 72.3
23 Bills-purchases-All 8/27 2003/2/7 10,000 13,999 10,008 0.001 0.001 71.5
26 JGBs-borrowing 8/28 10/22 4,000 2,209 2,209 0.001 * 0.001 -
26 Bills-sales 8/27 9/5 6,000 12,900 6,002 0.002 0.002 37.0
26 Bills-sales 8/27 9/6 6,000 17,180 6,004 0.001 0.001 88.3
27 Bills-sales 8/28 9/6 6,000 21,880 6,004 0.002 0.001 3.3
28 Bills-purchases-All 8/30 2003/2/12 6,000 6,146 6,146 0.001 * 0.001 -
29 CP-purchases 9/2 10/23 4,000 3,163 3,163 0.001 * 0.001 -
29 Bills-sales 8/30 9/10 9,000 32,100 9,005 0.002 0.001 3.4

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                
8/1 Outright purchases 8/6 8,000 31,419 8,024 -0.001 -0.001 46.4
2 Outright purchases 8/7 8,000 24,369 8,012 -0.002 -0.001 9.6
8 Outright purchases 8/13 8,000 45,952 8,024 0.000 0.000 13.2
9 Outright purchases 8/14 8,000 42,069 8,024 0.000 0.000 17.0
15 Outright purchases 8/20 8,000 48,973 8,009 0.001 0.001 57.9
16 Outright purchases 8/21 8,000 42,480 8,009 0.001 0.001 59.6
22 Outright purchases 8/27 8,000 37,229 8,028 0.000 0.000 21.0
23 Outright purchases 8/28 8,000 28,337 8,029 0.000 0.000 28.0
29 Outright purchases 9/3 8,000 12,157 8,022 0.000 0.000 66.0
30 Outright purchases 9/4 8,000 2,304 2,304 0.000 * 0.000 -

(Memo)

Outright purchase and sales operations of JGBs
The Bank of Japan offered outright purchase operations of JGBs worth 250.0 billion yen on August 5, 250.0 billion yen on August 7, 250.0 billion yen on August 19 and 250.0 billion yen on August 26. The purchases were exercised at 238.6 billion yen on August 8, 231.3 billion yen on August 12, 240.3 billion yen on August 22 and 248.1 billion yen on August 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.