Bank of Japan Operations in the Money Markets (May 2005)
June 1, 2005
Bank of Japan
Financial Markets Department
(100 million yen, percent per annum)
| Operations by Transactions under Repurchase Agreements and Purchases and Sales of Bills | |||||||||
| 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 |
2005 5/9 10 10 11 16 17 18 18 19 23 23 23 24 25 26 30 31 |
JGSs-purchases CP-purchases Bills-purchases-Head Bills-purchases-All JGSs-purchases CP-purchases Bills-sales Bills-purchases-Head Bills-sales JGSs-purchases Bills-purchases-Head Bills-purchases-All CP-purchases Bills-purchases-Head Bills-purchases-All JGSs-purchases Bills-purchases-All |
5/11 5/12 5/12 5/13 5/18 5/19 5/19 5/20 5/20 5/25 5/25 5/25 5/26 5/27 5/30 6/1 6/2 |
7/7 7/7 9/14 2006/1/24 7/12 7/14 5/25 11/18 5/25 7/15 10/6 2006/2/15 7/21 10/14 2006/3/15 7/28 2006/3/22 |
4,000 4,000 8,000 10,000 4,000 4,000 5,000 8,000 5,000 4,000 8,000 10,000 4,000 8,000 10,000 4,000 10,000 |
1,589 3,761 3,377 22,065 1,527 2,460 33,350 10,144 31,900 1,326 3,623 24,583 4,188 2,842 28,633 3,100 30,618 |
1,589 3,761 3,377 10,012 1,527 2,460 5,011 8,004 5,009 1,326 3,623 10,012 4,188 2,842 10,014 3,100 10,013 |
0.001 * 0.001 * 0.001 * 0.001 0.001 * 0.001 * 0.001 0.001 0.001 0.001 * 0.001 * 0.001 0.001 * 0.001 * 0.001 0.001 * 0.001 |
0.001 0.002 0.001 0.001 0.001 0.001 0.001 0.001 0.001 0.001 0.001 0.001 0.001 0.001 0.001 0.001 0.001 |
- - - 43.6 - - 15.2 78.9 15.8 - - 39.1 - - 35.0 - 31.6 |
| Outright Purchase and Sale Operations 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 |
2005 5/11 12 19 27 |
Outright purchases Outright purchases Outright purchases Outright purchases |
5/16 5/17 5/24 6/1 |
6,000 6,000 6,000 6,000 |
13,539 9,252 19,898 13,856 |
6,009 6,005 6,013 6,005 |
0.000 -0.001 0.000 -0.001 |
0.000 0.000 0.000 0.000 |
48.4 8.8 24.9 18.3 |
| Outright Purchase Operations of
ABCP | ||||||||
| Date of
Offer |
Date of
Exercise |
Maximum Purchase
Amount |
Amounts of
Competitive Bid |
Amounts of Successful
Bid |
(d) Pro-rata or Non-pro-rata Yield Spread |
Average Successful
Yield Spread |
Allocation on a
Pro-rata Basis Rate | |
2005 5/12 26 |
5/16 5/30 |
1,000 1,000 |
1,240 656 |
992 517 |
0.000 0.001 |
0.001 0.001 |
51.3 75.2 | |
| (Memo1) | Outright purchase and sale operations of JGBs | |
| The Bank of Japan offered outright purchase operations of JGBs worth 300.0 billion yen on May 6, 300.0 billion yen on May 11, 300.0 billion yen on May 18 and 300.0 billion yen on May 25. The purchases were exercised at 299.0 billion yen on May 11, 300.8 billion yen on May 16, 295.0 billion yen on May 23 and 300.9 billion yen on May 30, respectively. | ||
| (Memo2) | Outright purchases of asset-backed bonds | |
| No purchases in May. | ||
| (Memo3) | Securities lending as a secondary source of JGSs | |
| No purchases in May. | ||
| 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. | |
| 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. | ||
| (d) The difference between the yield at which operation counterparts want to sell and the corresponding floor yield determined by the Bank of Japan with the maturities and 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. | ||
| 4. | Date of repurchase for Securities lending as a secondary source of JGSs: | |
| those without *: the next business day after the offering date. | ||
| those with *: the fourth business day after the offering date. | ||
