Skip to main content

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

January 6, 2003
Bank of Japan
Financial Markets Department

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

Table: Operations by Transactions Under or Similar to Repurchase Agreements (Borrowing of Securities)(100 million yen, percent per annum)
Date of Offer Instrument Date of Exercise Date of
Resale or
Repurchase		 (a)
Amounts Offered		 Amounts ofCompetitive 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                  
12/2 Bills-sales 12/3 12/16 6,000 23,370 6,002 0.003 0.003 46.3
2 Bills-purchases-All 12/4 2003/6/24 10,000 26,919 10,002 0.015 0.019 50.5
3 CP-purchases 12/5 2003/2/13 4,000 5,641 4,062 0.005 * 0.006 -
3 Bills-purchases-Head 12/4 2003/4/15 5,000 20,700 5,100 0.013 * 0.015 -
4 CP-purchases 12/6 2003/1/22 4,000 4,465 3,955 0.004 * 0.007 -
4 Bills-purchases-All 12/6 2003/7/4 8,000 23,184 8,003 0.012 0.014 10.6
5 JGSs-purchases 12/9 2003/2/14 4,000 13,887 4,133 0.011 * 0.014 -
6 Bills-sales 12/9 12/20 5,000 19,260 4,800 0.001 * 0.001 -
9 JGSs-purchases 12/11 2003/1/17 4,000 14,958 4,003 0.011 0.012 26.4
9 Bills-sales 12/10 12/20 5,000 20,210 5,006 0.001 0.001 28.4
10 Bills-sales 12/13 12/20 9,000 32,160 9,006 0.001 0.001 45.5
11 Bills-sales 12/13 12/20 8,000 25,450 8,006 0.001 0.001 41.1
12 JGSs-purchases 12/16 2003/3/6 4,000 8,656 4,003 0.007 0.008 25.8
12 CP-purchases 12/16 2003/2/21 4,000 6,909 3,977 0.010 0.013 66.3
12 Bills-sales 12/13 12/24 5,000 18,570 5,002 0.001 0.001 32.4
13 CP-purchases 12/17 2003/1/31 4,000 3,757 3,757 0.001 * 0.009 -
13 Bills-sales 12/16 12/24 6,000 19,510 6,006 0.001 0.001 47.4
16 Bills-sales 12/17 12/24 8,000 19,940 8,004 0.001 0.001 82.1
17 Bills-purchases-Head 12/18 2003/4/24 5,000 18,673 4,844 0.013 * 0.015 -
18 JGSs-purchases 12/20 2003/3/13 4,000 9,371 4,001 0.004 0.006 36.9
18 Bills-purchases-All 12/20 2003/7/11 8,000 28,494 7,985 0.013 * 0.014 -
19 JGSs-purchases 12/24 2003/3/14 4,000 8,271 4,004 0.001 0.003 15.7
20 CP-purchases 12/25 2003/3/6 4,000 2,524 2,524 0.001 * 0.002 -
20 Bills-sales 12/24 2003/1/8 6,000 23,955 6,004 0.003 0.002 12.8
24 Bills-sales 12/25 2003/1/8 5,000 16,000 5,004 0.002 0.001 47.3
24 Bills-purchases-All 12/26 2003/8/15 6,000 17,197 6,004 0.013 0.013 81.2
25 Bills-sales 12/26 2003/1/9 6,000 20,660 6,006 0.002 0.002 44.1
25 Bills-purchases-Head 12/27 2003/5/14 5,000 14,935 5,002 0.010 0.011 42.7
27 Bills-sales 2003/1/6 2003/1/22 6,000 23,870 6,004 0.002 0.001 1.6
30 Bills-sales 2003/1/7 2003/1/23 8,000 30,850 8,004 0.001 0.001 79.2

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                
12/5 Outright purchases 12/10 5,000 18,012 5,006 0.001 0.001 50.1
6 Outright purchases 12/11 5,000 17,521 5,009 -0.002 -0.001 9.0
12 Outright purchases 12/17 5,000 10,041 5,008 -0.001 -0.001 83.0
19 Outright purchases 12/25 5,000 17,763 5,007 0.001 0.001 45.6

(Memo)

Outright purchase and sales operations of JGBs
The Bank of Japan offered outright purchase operations of JGBs worth 300.0 billion yen on December 4, 300.0 billion yen on December 9, 300.0 billion yen on December 18 and 300.0 billion yen on December 24. The purchases were exercised at 286.1 billion yen on December 9, 300.9 billion yen on December 12, 300.3 billion yen on December 24 and 292.5 billion yen on December 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
    CP-purchases : Purchases of CP under Repurchase Agreements
    JGSs-purchases : Purchases of JGSs under Repurchase Agreements
    JGSs-sales : Sales of JGSs 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.