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

November 1, 2002
Bank of Japan
Financial Markets Department

(100 million yen, percent per annum)

Operations by Transactions Under or Similar to Repurchase Agreements (Borrowing of Securities)
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 1 1 2 2 2 2 3 4 7 9 9 9 10 10 11 11 11 11 15 15 15 15 16 16 16 17 17 18 18 21 21 21 22 23 23 24 24 24 25 25 25 28 28 29 29 30 31	Bills-sales Bills-sales Bills-sales CP-purchases Bills-sales Bills-sales Bills-purchases-All Bills-sales Bills-sales JGBs-borrowing Bills-sales CP-purchases Bills-sales Bills-sales Bills-sales Bills-sales Bills-purchases-All JGBs-borrowing Bills-purchases-Head JGBs-borrowing CP-purchases Bills-sales Bills-sales Bills-sales JGBs-borrowing Bills-sales JGBs-borrowing Bills-sales Bills-sales Bills-purchases-Head Bills-sales Bills-sales Bills-purchases-Head JGBs-borrowing JGBs-borrowing Bills-sales Bills-purchases-Head CP-purchases Bills-sales Bills-sales Bills-sales Bills-purchases-All JGBs-borrowing Bills-sales Bills-sales Bills-purchases-Head Bills-sales Bills-purchases-Head	10/1* 10/1* 10/2 10/4 10/2* 10/3 10/4 10/4 10/7 10/9 10/9* 10/11 10/15 10/11 10/15 10/15 10/16 10/16 10/11* 10/17 10/17 10/15* 10/16 10/16* 10/18 10/17 10/21 10/18 10/21 10/22 10/21* 10/22 10/23 10/24 10/25 10/24 10/24* 10/28 10/25 10/25* 10/28 10/29 10/30 10/29 10/30 10/31 10/31 10/31*	10/10 10/11 10/10 11/22 10/17 10/21 2003/3/5 10/21 10/21 11/8 10/21 11/28 10/29 10/23 10/30 10/21 2003/3/11 11/14 2003/2/14 11/15 12/6 10/24 10/25 10/25 11/22 10/31 11/28 11/5 11/5 2003/2/19 11/5 11/5 2003/2/24 12/11 11/13 11/7 2003/3/3 12/16 11/11 11/11 11/13 2003/4/8 11/14 11/20 11/20 2003/3/14 11/20 2003/3/18	5,000 7,000 6,000 4,000 7,000 7,000 7,000 8,000 8,000 4,000 6,000 4,000 8,000 5,000 10,000 7,000 10,000 4,000 5,000 4,000 4,000 7,000 6,000 8,000 4,000 9,000 4,000 10,000 7,000 6,000 8,000 7,000 5,000 5,000 5,000 8,000 5,000 4,000 9,000 6,000 10,000 8,000 5,000 10,000 10,000 5,000 9,000 5,000	19,150 19,960 21,620 5,332 19,840 19,710 18,020 21,300 26,230 4,765 15,980 2,497 23,660 7,650 20,410 19,910 43,085 12,592 25,350 10,916 2,897 18,460 17,140 24,940 10,748 29,930 9,348 27,090 28,490 28,335 15,660 14,670 26,685 14,922 14,766 19,690 22,105 5,827 19,630 17,020 23,530 39,815 13,314 21,585 29,145 27,710 30,902 20,250	5,002 7,004 6,200 3,975 7,004 7,003 7,008 8,006 8,006 4,004 6,003 2,497 8,004 5,000 10,003 7,040 10,002 4,050 5,002 4,003 2,897 7,006 6,002 8,050 4,003 9,030 4,003 10,002 7,004 6,001 8,140 7,003 5,000 5,003 5,055 8,003 5,000 3,895 9,080 6,002 10,004 8,002 5,000 10,004 10,061 5,002 8,976 5,002	0.001 0.002 0.001* 0.001 0.002 0.002 0.001 0.002 0.002 0.001 0.002 0.001* 0.002 0.020 0.006 0.019* 0.008 0.013* 0.006 0.005 0.001* 0.020 0.020 0.014* 0.004 0.013* 0.002 0.014 0.011 0.009 0.011* 0.012 0.014* 0.006 0.010* 0.020 0.020 0.004* 0.028* 0.029 0.040 0.030 0.015 0.045 0.041* 0.020 0.033* 0.005	0.001 0.001 0.001 0.002 0.001 0.001 0.003 0.002 0.002 0.002 0.001 0.001 0.002 0.008 0.004 0.012 0.009 0.015 0.008 0.010 0.001 0.016 0.016 0.012 0.005 0.011 0.004 0.012 0.010 0.009 0.010 0.010 0.015 0.009 0.012 0.017 0.021 0.006 0.023 0.026 0.034 0.033 0.015 0.041 0.039 0.026 0.030 0.006	53.5 13.1 - 60.4 24.3 18.1 8.5 47.9 62.2 74.6 48.7 - 93.9 72.0 75.9 - 81.6 - 32.3 26.4 - 57.4 22.2 - 72.5 - 26.8 87.1 67.6 92.9 - 67.4 - 62.6 - 32.0 50.0 - - 71.5 28.6 14.4 80.0 68.4 - 14.3 - 68.8
Outright Purchases and Sales Operation of TBs and FBs
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 3 10 17 24 31	Outright purchases Outright purchases Outright purchases Outright purchases Outright purchases Outright purchases	10/3 10/8 10/16 10/22 10/29 11/6	5,000 5,000 5,000 5,000 5,000 5,000		8,347 7,478 6,760 19,339 19,701 14,382	5,004 5,014 5,009 5,005 5,001 5,005	-0.001 0.000 0.000 0.003* 0.005 -0.002	0.000 0.000 0.001 0.003 0.005 -0.001	40.9 67.0 35.6 - 83.4 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.
3.	(a) Planned amounts on offer days.
	(b)* denotes non-pro-rata rates; otherwise the figures denote pro-rata rates.
	(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.