Bank of Japan Head Office

Bank of Japan Operations in the Money Markets (September 2005)


October 3, 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
9/1
6
6
9
13
15
15
16
20
20
21
22
27
27
30
30
30

 
CP-purchases
CP-purchases
Bills-sales
Bills-sales
CP-purchases
JGSs-sales
Bills-sales
Bills-sales
JGSs-sales
CP-purchases
Bills-purchases-Head
Bills-sales
JGSs-purchases
Bills-purchases-All
CP-purchases
Bills-sales
Bills-purchases-Head

 
9/5
9/8
9/7
9/12
9/15
9/20
9/20
9/20
9/22
9/22
9/26
9/26
9/29
9/29
10/4
10/3
10/4

 
10/20
10/27
9/12
9/26
11/4
9/28
9/28
9/30
9/30
11/10
2006/1/20
10/4
12/15
2006/4/12
11/17
10/11
2006/1/26

 
4,000
4,000
12,000
12,000
4,000
8,000
10,000
8,000
4,000
4,000
8,000
6,000
4,000
8,000
4,000
5,000
8,000

 
5,638
4,436
81,300
68,100
4,059
35,650
61,900
43,500
19,050
5,363
22,700
23,200
4,780
35,291
3,738
33,500
19,400

 
3,952
4,046
12,004
12,005
4,059
8,004
10,004
8,005
4,004
3,993
8,005
5,900
4,003
8,002
3,738
5,007
8,000

 
0.002  
0.002 *
0.001  
0.001  
0.002 *
0.001  
0.001  
0.001  
0.001  
0.003  
0.005  
0.024 *
0.001  
0.012  
0.001 *
0.001  
0.004  

 
0.003
0.002
0.001
0.001
0.003
0.001
0.001
0.001
0.001
0.005
0.007
0.015
0.002
0.017
0.003
0.001
0.006

 
60.9
 
14.8
18.8
 
29.0
16.3
18.7
26.0
36.1
38.4
 
68.3
56.6
 
15.6
60.0


<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
9/2
9
13
16
22

 
Outright purchases
Outright purchases
Outright sales
Outright purchases
Outright purchases

 
9/7
9/14
9/16
9/22
9/28

 
5,000
5,000
4,000
4,000
4,000

 
6,439
3,025
23,300
12,578
14,167

 
5,000
3,025
4,007
4,135
4,002

 
0.001*
-0.007*
0.000 
0.001*
0.003 

 
0.001
-0.001
0.000
0.001
0.003

 
 
 
23.9
 
83.4


<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
9/7
21

 
9/9
9/26

 
1,000
1,000

 
207
555

 
165
444

 
0.000
0.001

 
0.001
0.002

 
72.4
67.6

(Memo1) Outright purchase and sale operations of JGBs
The Bank of Japan offered outright purchase operations of JGBs worth 300.0 billion yen on September 2, 300.0 billion yen on September 14, 300.0 billion yen on September 20 and 300.0 billion yen on September 26. The purchases were exercised at 308.6 billion yen on September 7, 300.6 billion yen on September 20, 295.7 billion yen on September 26 and 301.0 billion yen on September 29, respectively.
(Memo2) Outright purchases of asset-backed bonds
No purchases in September.
(Memo3) Securities lending as a secondary source of JGSs
No purchases in September.

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.


page top