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

November 1, 2002
Bank of Japan
Financial Markets Department

Operations by Transactions Under or Similar to Repurchase Agreements (Borrowing of Securities)

Table: (100 million yen, percent per annum)
Date
of
Offer		 Instrument Date of
Exercise		 Date of
Resale
or
Repurchase		 (a)
Amounts
Offered		 Amounts of
Competitive
Bid		 Amounts of
Successful
Bid		 (b)
Pro-rata
or
Non-pro
-rata Rate		 Average
Successful
Bid Rate		 Allocation
on a Pro-rata
Basis Rate
2002                  
10/1 Bills-sales 10/1* 10/10 5,000 19,150 5,002 0.001 0.001 53.5
1 Bills-sales 10/1* 10/11 7,000 19,960 7,004 0.002 0.001 13.1
1 Bills-sales 10/2 10/10 6,000 21,620 6,200 0.001* 0.001 -
2 CP-purchases 10/4 11/22 4,000 5,332 3,975 0.001 0.002 60.4
2 Bills-sales 10/2* 10/17 7,000 19,840 7,004 0.002 0.001 24.3
2 Bills-sales 10/3 10/21 7,000 19,710 7,003 0.002 0.001 18.1
2 Bills-purchases-All 10/4 2003/3/5 7,000 18,020 7,008 0.001 0.003 8.5
3 Bills-sales 10/4 10/21 8,000 21,300 8,006 0.002 0.002 47.9
4 Bills-sales 10/7 10/21 8,000 26,230 8,006 0.002 0.002 62.2
7 JGBs-borrowing 10/9 11/8 4,000 4,765 4,004 0.001 0.002 74.6
9 Bills-sales 10/9* 10/21 6,000 15,980 6,003 0.002 0.001 48.7
9 CP-purchases 10/11 11/28 4,000 2,497 2,497 0.001* 0.001 -
9 Bills-sales 10/15 10/29 8,000 23,660 8,004 0.002 0.002 93.9
10 Bills-sales 10/11 10/23 5,000 7,650 5,000 0.020 0.008 72.0
10 Bills-sales 10/15 10/30 10,000 20,410 10,003 0.006 0.004 75.9
11 Bills-sales 10/15 10/21 7,000 19,910 7,040 0.019* 0.012 -
11 Bills-purchases-All 10/16 2003/3/11 10,000 43,085 10,002 0.008 0.009 81.6
11 JGBs-borrowing 10/16 11/14 4,000 12,592 4,050 0.013* 0.015 -
11 Bills-purchases-Head 10/11* 2003/2/14 5,000 25,350 5,002 0.006 0.008 32.3
15 JGBs-borrowing 10/17 11/15 4,000 10,916 4,003 0.005 0.010 26.4
15 CP-purchases 10/17 12/6 4,000 2,897 2,897 0.001* 0.001 -
15 Bills-sales 10/15* 10/24 7,000 18,460 7,006 0.020 0.016 57.4
15 Bills-sales 10/16 10/25 6,000 17,140 6,002 0.020 0.016 22.2
16 Bills-sales 10/16* 10/25 8,000 24,940 8,050 0.014* 0.012 -
16 JGBs-borrowing 10/18 11/22 4,000 10,748 4,003 0.004 0.005 72.5
16 Bills-sales 10/17 10/31 9,000 29,930 9,030 0.013* 0.011 -
17 JGBs-borrowing 10/21 11/28 4,000 9,348 4,003 0.002 0.004 26.8
17 Bills-sales 10/18 11/5 10,000 27,090 10,002 0.014 0.012 87.1
18 Bills-sales 10/21 11/5 7,000 28,490 7,004 0.011 0.010 67.6
18 Bills-purchases-Head 10/22 2003/2/19 6,000 28,335 6,001 0.009 0.009 92.9
21 Bills-sales 10/21* 11/5 8,000 15,660 8,140 0.011* 0.010 -
21 Bills-sales 10/22 11/5 7,000 14,670 7,003 0.012 0.010 67.4
21 Bills-purchases-Head 10/23 2003/2/24 5,000 26,685 5,000 0.014* 0.015 -
22 JGBs-borrowing 10/24 12/11 5,000 14,922 5,003 0.006 0.009 62.6
23 JGBs-borrowing 10/25 11/13 5,000 14,766 5,055 0.010* 0.012 -
23 Bills-sales 10/24 11/7 8,000 19,690 8,003 0.020 0.017 32.0
24 Bills-purchases-Head 10/24* 2003/3/3 5,000 22,105 5,000 0.020 0.021 50.0
24 CP-purchases 10/28 12/16 4,000 5,827 3,895 0.004* 0.006 -
24 Bills-sales 10/25 11/11 9,000 19,630 9,080 0.028* 0.023 -
25 Bills-sales 10/25* 11/11 6,000 17,020 6,002 0.029 0.026 71.5
25 Bills-sales 10/28 11/13 10,000 23,530 10,004 0.040 0.034 28.6
25 Bills-purchases-All 10/29 2003/4/8 8,000 39,815 8,002 0.030 0.033 14.4
28 JGBs-borrowing 10/30 11/14 5,000 13,314 5,000 0.015 0.015 80.0
28 Bills-sales 10/29 11/20 10,000 21,585 10,004 0.045 0.041 68.4
29 Bills-sales 10/30 11/20 10,000 29,145 10,061 0.041* 0.039 -
29 Bills-purchases-Head 10/31 2003/3/14 5,000 27,710 5,002 0.020 0.026 14.3
30 Bills-sales 10/31 11/20 9,000 30,902 8,976 0.033* 0.030 -
31 Bills-purchases-Head 10/31* 2003/3/18 5,000 20,250 5,002 0.005 0.006 68.8

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 		(a)
Amounts
Offered		 Amounts of
Competitive
Bid 		Amounts of
Successful
Bid		 (c)
Pro-rata
or
Non-pro
-rata
Yield Spread		 Average
Successful
Yield Spread 		Allocation
on a Pro-rata
Basis Rate
2002                
10/1 Outright purchases 10/3 5,000 8,347 5,004 -0.001 0.000 40.9
3 Outright purchases 10/8 5,000 7,478 5,014 0.000 0.000 67.0
10 Outright purchases 10/16 5,000 6,760 5,009 0.000 0.001 35.6
17 Outright purchases 10/22 5,000 19,339 5,005 0.003* 0.003 -
24 Outright purchases 10/29 5,000 19,701 5,001 0.005 0.005 83.4
31 Outright purchases 11/6 5,000 14,382 5,005 -0.002 -0.001 56.5

(Memo)

Outright purchase and sales operations of JGBs
The Bank of Japan offered outright purchase operations of JGBs worth 250.0 billion yen on October 2,250.0 billion yen on October 16,250.0 billion yen on October 23 and 250.0 billion yen on October 28.The purchases were exercised at 235.1 billion yen on October 7,250.5 billion yen on October 21,251.2 billion yen on October 28 and 250.9 billion yen on October 31, 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. * denotes dates when offers and transactions were exercised on the same day.
    1. (a) Planned amounts on offer days.
    2. (b)* denotes non-pro-rata rates; otherwise the figures denote pro-rata rates.
    3. (c) The difference between the yield at which operation counterparts want to sell (purchase) and the corresponding yield determined by the Bank of Japan with the prevailing market yield (the "yield spread") taken into account for auctions.
      *denotes non-pro-rata yield spreads; otherwise the figures denote pro-rata yield spreads.