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

October 1, 2002
Bank of Japan
Financial Markets Department

Table: Bank of Japan Operations in the Money Markets (September 2002)(100 million yen, percent per annum)
Date
of
Offer		 Instrument (a) Date of
Exercise		 Date of
Resale
or
Repurchase		 Amounts
Offered		 Amounts of
Competitive
Bid		 Amounts of
Successful
Bid		 Pro-rata
or
Non-pro
-rata Rate
(b)		 Average
Successful
Bid Rate		 Allocation
on a Pro-rata
Basis Rate
2002
9/2 Bills-purchases-Head 9/4 2003/1/17 5,000 2,400 2,400 0.001* 0.001 -
3 JGBs-borrowing 9/5 9/25 4,000 1,169 1,169 0.001* 0.001 -
3 Bills-purchases-Head 9/4 2003/1/22 5,000 700 700 0.001* 0.001 -
3 Bills-purchases-All 9/5 2003/2/14 6,000 10,357 6,006 0.001 0.001 58.0
4 JGBs-borrowing 9/6 9/26 4,000 1,018 1,018 0.001* 0.001 -
4 CP-purchases 9/6 10/28 4,000 3,371 3,371 0.001* 0.001 -
4 Bills-sales 9/5 9/11 7,000 44,750 7,005 0.001 0.001 17.8
4 Bills-purchases-All 9/6 2003/2/18 6,000 15,366 6,008 0.001 0.001 39.1
5 JGBs-borrowing 9/9 10/23 4,000 3,805 3,805 0.001* 0.001 -
5 Bills-sales 9/6 9/12 8,000 37,680 8,007 0.001 0.001 30.0
5 Bills-sales 9/6 9/13 6,000 31,500 6,004 0.001 0.001 22.7
6 JGBs-borrowing 9/10 10/24 4,000 2,884 2,884 0.001* 0.001 -
6 Bills-sales 9/9 9/19 6,000 26,150 6,003 0.001 0.001 37.8
6 Bills-sales 9/9 9/20 10,000 46,700 10,009 0.001 0.001 33.1
9 JGBs-borrowing 9/11 9/25 4,000 149 149 0.001* 0.001 -
9 Bills-sales 9/10 9/20 7,000 31,900 7,007 0.001 0.001 23.8
9 Bills-purchases-All 9/11 2003/2/21 7,000 20,169 7,010 0.001 0.001 34.8
10 JGBs-borrowing 9/12 10/29 4,000 3,899 3,899 0.001* 0.001 -
10 Bills-sales 9/11 9/20 11,000 40,450 11,006 0.001 0.001 33.2
11 JGBs-borrowing 9/13 10/15 4,000 1,312 1,312 0.001* 0.001 -
11 CP-purchases 9/13 11/6 4,000 2,739 2,739 0.001* 0.001 -
11 Bills-sales 9/12 9/20 4,000 21,900 4,008 0.001 0.001 21.2
12 Bills-sales 9/13 9/24 4,000 23,400 4,005 0.001 0.001 18.0
13 Bills-sales 9/17 9/27 6,000 28,800 6,009 0.001 0.001 23.8
13 Bills-purchases-All 9/18 2003/2/25 6,000 34,411 6,001 0.002 0.002 72.3
17 CP-purchases 9/19 11/12 4,000 3,135 3,135 0.001* 0.001 -
17 Bills-sales 9/18 9/27 7,000 31,400 7,006 0.001 0.001 30.5
17 Bills-purchases-Head 9/19 2003/1/29 5,000 21,035 5,000 0.002 0.002 80.0
18 Bills-sales 9/19 9/26 5,000 11,500 5,003 0.001 0.001 52.9
18 Bills-sales 9/19 9/27 8,000 25,300 8,005 0.001 0.001 41.3
19 Bills-sales 9/20 10/2 7,000 24,000 7,003 0.002 0.001 43.8
19 Bills-purchases-All 9/24 2003/2/27 6,000 21,936 6,008 0.002 0.003 25.3
20 Bills-sales 9/24 10/2 8,000 18,870 7,830 0.005* 0.002 -
20 Bills-sales 9/25 10/2 9,000 20,480 9,190 0.003* 0.002 -
24 Bills-sales 9/25 10/2 7,000 17,510 7,160 0.006* 0.004 -
24 Bills-sales 9/25 10/3 6,000 16,180 6,003 0.005 0.004 56.8
25 Bills-sales 9/26 10/4 9,000 19,190 9,002 0.010 0.008 92.8
30 Bills-purchases-Head 9/30* 2003/2/6 5,000 12,388 5,001 0.005 0.009 27.0
30 Bills-sales 10/1 10/9 8,000 26,240 8,000 0.005 0.003 50.0

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 		Amounts
Offered		 Amounts of
Competitive
Bid 		Amounts of
Successful
Bid		 Pro-rata
or
Non-pro
-rata
Yield Spread
(c)		 Average
Successful
Yield Spread 		Allocation
on a Pro-rata
Basis Rate
2002                
9/5 Outright purchases 9/10 8,000 4,211 4,211 0.000* 0.000 -
6 Outright purchases 9/11 8,000 10,452 8,012 0.000 0.000 76.7
12 Outright purchases 9/18 8,000 4,380 4,380 0.000* 0.000 -
13 Outright purchases 9/19 8,000 1,456 1,456 0.000* 0.000 -
19 Outright purchases 9/25 8,000 13,284 8,012 0.000 0.000 58.8
20 Outright purchases 9/26 8,000 3,963 3,963 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 September 2, 250.0 billion yen on September 9, 250.0 billion yen on September 17 and 250.0 billion yen on September 24. The purchases were exercised at 251.3 billion yen on September 5, 231.5 billion yen on September 12, 250.2 billion yen on September 20 and 250.2 billion yen on September 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.