Skip to main content

Bank of Japan Operations in the Money Markets (August 2007)

September 3, 2007
Bank of Japan
Financial Markets Department

Short-term Operations (excluding Outright Purchase and Sale Operations of TBs and FBs)

Table : Short-term Operations (excluding Outright Purchase and Sale Operations of TBs and FBs)(100 million yen, percent per annum)
Date of Offer Instrument Date of Exercise Date of Resale or Repurchase or Repayment (a)
Amounts Offered		 Amounts of Competitive Bid Amounts of Successful Bid (b)
Pro-rata, Non-pro-rata Rate / Loan Rate		 Average Successful Bid Rate or Loan Rate Allocation on a Pro-rata Basis Rate
2007                  
8/1 FSOPC-Head 8/1* 8/2 4,000 15,942 4,001 0.520 0.529 7.2
1 FSOPC-Head 8/3 8/17 8,000 26,400 8,003 0.500 0.510 10.7
1 FSOPC-All 8/3 10/15 8,000 33,893 8,012 0.630 0.634 28.7
2 FSOPC-Head 8/6 9/19 8,000 27,962 8,004 0.540 0.550 44.2
6 Bills-sales 8/6* 8/7 4,000 11,330 4,005 0.500 0.499 78.2
7 Bills-sales 8/7* 8/8 5,000 13,090 5,003 0.500 0.496 87.8
7 FSOPC-Head 8/9 10/24 8,000 42,054 8,004 0.650 0.652 89.9
8 FSOPC-All 8/10 10/23 8,000 44,942 8,004 0.690 0.705 5.6
10 FSOPC-Head 8/10* 8/13 10,000 28,710 9,900 0.550* 0.553  
10 FSOPC-Head 8/13 8/23 6,000 28,328 6,003 0.600 0.609 50.4
13 FSOPC-Head 8/13* 8/20 6,000 21,990 5,955 0.590* 0.595  
13 JGSs-purchases 8/15 8/22 8,000 22,853 8,001 0.610 0.636 15.0
14 Bills-sales 8/14* 8/15 6,000 22,800 6,001 0.220 0.183 82.7
14 Bills-sales 8/14* 8/16 10,000 12,805 10,000 0.520 0.403 49.5
15 Bills-sales 8/15* 8/16 15,000 18,965 15,000 0.750 0.501 20.7
15 Bills-sales 8/15* 8/16 5,000 6,704 5,003 0.740 0.687 73.4
15 FSOPC-Head 8/17 10/29 8,000 41,810 8,003 0.710 0.720 91.5
16 FSOPC-Head 8/16* 8/17 4,000 17,475 4,000 0.560* 0.580  
16 JGSs-purchases 8/20 8/28 8,000 22,569 8,002 0.600 0.623 32.7
16 FSOPC-Head 8/20 9/20 8,000 36,180 8,003 0.630 0.634 65.4
16 FSOPC-All 8/20 10/26 8,000 34,512 8,001 0.690 0.710 64.0
17 FSOPC-Head 8/17* 8/20 12,000 30,590 12,001 0.550 0.570 16.8
17 JGSs-purchases 8/21 8/29 8,000 22,658 8,004 0.600 0.619 8.6
17 FSOPC-Head 8/20 8/31 8,000 32,900 8,003 0.610 0.624 7.1
20 FSOPC-Head 8/20* 8/21 10,000 45,323 10,002 0.640 0.640 69.0
20 JGSs-purchases 8/22 8/31 8,000 25,292 8,003 0.620 0.634 53.0
20 FSOPC-Head 8/22 9/20 6,000 31,922 6,003 0.640 0.642 73.3
21 FSOPC-Head 8/21* 8/22 8,000 24,782 8,000 0.600 0.617 79.0
21 JGSs-purchases 8/23 8/28 10,000 34,866 9,849 0.640* 0.642  
21 FSOPC-Head 8/23 9/21 6,000 29,100 6,001 0.620 0.637 38.8
22 JGSs-purchases 8/24 9/20 8,000 25,699 8,001 0.590 0.604 76.4
23 JGSs-purchases 8/27 9/3 8,000 22,856 8,004 0.570 0.588 15.3
23 FSOPC-Head 8/27 11/8 8,000 31,976 8,088 0.670* 0.684  
24 Bills-sales 8/24* 8/27 3,000 8,600 3,150 0.510* 0.498  
24 FSOPC-Head 8/27 9/19 6,000 25,110 6,004 0.570 0.576 83.1
24 FSOPC-All 8/28 11/6 8,000 32,256 8,004 0.670 0.677 79.3
27 FSOPC-Head 8/28 9/20 8,000 27,970 8,000 0.570 0.574 60.0
28 FSOPC-Head 8/29 9/13 8,000 25,720 8,003 0.560 0.573 3.0
29 JGSs-purchases 8/31 9/20 8,000 22,010 8,004 0.570 0.575 89.8
29 FSOPC-Head 8/30 10/4 6,000 31,538 6,005 0.640 0.650 58.5
29 FSOPC-Head 8/31 11/28 8,000 38,778 8,006 0.660 0.665 84.9
30 FSOPC-Head 8/31 9/7 6,000 25,890 6,000 0.610 0.610 96.0
31 FSOPC-Head 8/31* 9/3 4,000 10,291 4,002 0.550 0.583 13.2
31 FSOPC-Head 9/3 10/15 8,000 33,488 8,006 0.640 0.643 96.1
31 FSOPC-All 9/4 11/27 8,000 34,575 8,008 0.660 0.668 39.6

Outright Purchase and Sale Operations of TBs and FBs

Table : 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
2007                
8/2 Outright purchases 8/7 4,000 14,911 4,002 0.014 0.015 43.5
9 Outright purchases 8/14 4,000 22,651 4,000 0.050* 0.054  
16 Outright purchases 8/21 4,000 13,285 3,993 0.008* 0.010  
23 Outright purchases 8/28 4,000 16,610 4,003 0.012 0.018 21.7
30 Outright purchases 9/4 4,000 8,845 4,002 0.006* 0.009  

(Memo1)

Outright purchase and sale operations of JGBs

The Bank of Japan offered outright purchase operations of JGBs worth 300.0 billion yen on August 3, 300.0 billion yen on August 8, 300.0 billion yen on August 15 and 300.0 billion yen on August 27. The purchases were exercised at 300.3 billion yen on August 8, 300.2 billion yen on August 13, 314.6 billion yen on August 20 and 300.4 billion yen on August 30, respectively.

(Memo2)

Securities lending as a secondary source of JGSs

No purchases in August.

NOTES:

  1. Bills-sales : Outright Sales of Bills Drawn by BOJ
    FSOPC-Head : Funds-Supplying Operations against Pooled Collateral at Head Office
    FSOPC-All : Funds-Supplying Operations against Pooled Collateral 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, loan rates; otherwise the figures denote pro-rata rates, loan 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.
  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.