Bank of Japan Head Office

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


November 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
10/5
6 
6 
11 
11 
12 
12 
13 
13 
14 
17 
18 
18 
21 
21 
25 
25 
27 
27 
27 
31 

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

 
10/7
10/11
10/11
10/13
10/13
10/14
10/13
10/17
10/14
10/18
10/18
10/20
10/20
10/25
10/25
10/27
10/27
10/31
10/28
10/31
11/2

 
11/22
12/8
2006/3/10
11/28
2006/2/3
10/25
10/20
12/19
11/15
2006/3/20
10/31
12/6
2006/2/10
12/22
2006/2/15
12/9
2006/3/20
2006/1/10
11/15
2006/2/17
11/25

 
4,000 
4,000 
8,000 
4,000 
8,000 
10,000 
12,000 
4,000 
12,000 
8,000 
8,000 
4,000 
8,000 
4,000 
8,000 
4,000 
8,000 
4,000 
12,000 
8,000 
12,000 

 
7,872 
6,413 
27,240 
6,734 
16,204 
40,550 
53,300 
5,935 
40,400 
19,875 
42,800 
7,249 
21,159 
2,639 
19,370 
8,508 
29,755 
5,530 
39,900 
29,688 
27,250 

 
3,965 
4,003 
8,003 
3,962 
8,001 
10,007 
12,005 
4,003 
12,002 
8,005 
8,008 
3,966 
8,004 
2,639 
8,150 
3,980 
8,003 
4,153 
12,002 
8,005 
12,003 

 
0.002  
0.001  
0.008  
0.002  
0.004  
0.001  
0.001  
0.001  
0.001  
0.008  
0.001  
0.002  
0.003  
0.001 *
0.003 *
0.003  
0.006  
0.002 *
0.001  
0.002  
0.001  

 
0.002 
0.001 
0.010 
0.003 
0.007 
0.001 
0.001 
0.001 
0.001 
0.009 
0.001 
0.002 
0.005 
0.001 
0.004 
0.003 
0.008 
0.002 
0.001 
0.003 
0.001 

 
51.7 
62.4 
62.7 
54.3 
25.7 
26.7 
23.5 
66.7 
90.9 
54.6 
19.7 
65.0 
16.9 
 
 
61.3 
66.2 
 
42.4 
16.8 
65.4


<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
10/7
11 
14 
21 
28 

 
Outright purchases
Outright sales
Outright purchases
Outright purchases
Outright purchases

 
10/13
10/14
10/19
10/26
11/2

 
5,000 
6,000 
5,000 
5,000 
4,000 

 
6,846 
33,001 
9,757 
6,141 
8,574 

 
5,003 
6,006 
5,005 
5,002 
4,002 

 
0.000 
0.000 
0.000 
-0.012 
0.000 

 
0.002 
0.000 
0.000 
0.001 
0.000 

 
79.0 
18.8 
57.9 
45.2 
84.1


<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
10/6
19 

 
10/11
10/21

 
1,000 
1,000 

 
133 
303 

 
106 
242 

 
0.000
0.001

 
0.002
0.001

 
55.0 
74.0

(Memo1) Outright purchase and sale operations of JGBs
The Bank of Japan offered outright purchase operations of JGBs worth 300.0 billion yen on October 5, 300.0 billion yen on October 11, 300.0 billion yen on October 19 and 300.0 billion yen on October 26. The purchases were exercised at 300.6 billion yen on October 11, 300.9 billion yen on October 14, 300.6 billion yen on October 24 and 303.9 billion yen on October 31, respectively.
(Memo2) Outright purchases of asset-backed bonds
No purchases in October.
(Memo3) Securities lending as a secondary source of JGSs
No purchases in October.

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.


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