Bank of Japan Operations in the Money Markets (April 2006)
Bank of Japan
Financial Markets Department
Operations by Transactions under Repurchase Agreements and Purchases and Sales of Bills
(100 million yen, percent per annum)
| 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 |
|---|---|---|---|---|---|---|---|---|---|
2006 4/4 5 6 10 11 13 13 14 20 24 24 26 27 28 |
Bills-sales Bills-sales JGSs-sales Bills-purchases-All JGSs-sales CP-purchases Bills-sales Bills-purchases-Head JGSs-purchases CP-purchases Bills-sales Bills-purchases-All Bills-purchases-Head JGSs-purchases |
4/5 4/6 4/10 4/12 4/13 4/17 4/14 4/17 4/24 4/26 4/25 4/28 4/28 5/2 |
4/18 4/20 4/24 6/8 4/28 5/18 4/28 5/11 5/22 5/26 5/8 6/27 5/26 5/26 |
8,000 8,000 6,000 6,000 6,000 3,000 8,000 6,000 4,000 3,000 6,000 6,000 6,000 4,000 |
38,800 44,800 41,710 28,475 30,300 4,427 27,700 18,730 10,773 6,375 21,430 28,304 25,106 13,005 |
8,005 8,006 6,001 5,975 6,002 2,832 8,005 6,000 4,003 2,985 6,001 6,160 6,001 4,001 |
0.001 0.001 0.001 0.027* 0.001 0.003* 0.001 0.005 0.003 0.006 0.004 0.033* 0.020 0.026 |
0.001 0.001 0.001 0.032 0.001 0.012 0.001 0.011 0.006 0.008 0.003 0.037 0.027 0.030 |
27.8 18.2 15.6 25.5 29.6 26.0 45.8 68.5 50.8 16.8 40.7 |
Outright Purchase and Sale Operations 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 |
|---|---|---|---|---|---|---|---|---|
2006 4/6 12 27 |
Outright purchases Outright purchases Outright purchases |
4/11 4/17 5/2 |
3,000 3,000 3,000 |
10,040 11,064 15,631 |
3,002 3,143 3,002 |
-0.002 -0.008* 0.021 |
0.000 -0.006 0.023 |
75.4 78.6 |
| (Memo1) | Outright purchase and sale operations of JGBs | |
| The Bank of Japan offered outright purchase operations of JGBs worth 300.0 billion yen on April 5, 300.0 billion yen on April 10, 300.0 billion yen on April 17 and 300.0 billion yen on April 24. The purchases were exercised at 302.3 billion yen on April 10, 300.1 billion yen on April 13, 300.2 billion yen on April 20 and 300.5 billion yen on April 27, respectively. | ||
| (Memo2) | Securities lending as a secondary source of JGSs | |
| The Bank of Japan offered securities lendings as a secondary source of JGSs worth 2.5 billion yen on April 3 for 10-year JGB #252 and 1.8 billion yen on April 4 for 10-year JGB #252. The Bank sold 10-year JGB #252 worth 1.3 billion yen on April 3 and 10-year JGB #252 worth 0.9 billion yen on April 4, under repurchase agreements, 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. | |
| 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. | ||
| 4. | Date of repurchase for Securities lending as a secondary source of JGSs is as follows, | |
| those without *: the next business day after the offering date, | ||
| those with *: the fourth business day after the offering date. | ||
