Skip to main content

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

January 4, 2008
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                  
12/3 JGSs-purchases 12/5 12/20 8,000 18,730 8,005 0.530 0.536 53.0
3 FSOPC-Head 12/4 12/19 8,000 25,254 8,001 0.520 0.533 6.8
3 FSOPC-Head 12/4 12/28 8,000 20,140 8,002 0.520 0.531 19.5
4 FSOPC-Head 12/4* 12/5 3,000 5,848 3,002 0.520 0.528 22.0
4 FSOPC-Head 12/5 12/14 8,000 22,679 8,004 0.520 0.525 83.5
5 FSOPC-Head 12/6 2008/1/11 8,000 20,713 8,004 0.560 0.570 40.4
5 FSOPC-Head 12/7 2008/3/21 8,000 23,385 8,003 0.570 0.572 96.6
6 JGSs-purchases 12/10 12/21 4,000 16,566 4,000 0.540 0.546 75.4
6 FSOPC-Head 12/7 12/20 3,000 14,725 3,001 0.540 0.545 42.5
7 FSOPC-Head 12/10 12/21 4,000 18,446 4,004 0.550 0.550 71.2
7 FSOPC-All 12/11 2008/3/13 8,000 40,595 8,008 0.570 0.574 51.6
10 FSOPC-Head 12/11 12/20 3,000 18,040 3,002 0.560 0.562 36.6
10 FSOPC-Head 12/12 2008/3/28 8,000 27,745 8,006 0.570 0.572 71.4
11 FSOPC-Head 12/12 2008/1/10 3,000 21,430 3,000 0.600 0.603 32.0
12 JGSs-purchases 12/14 12/28 6,000 17,155 6,004 0.550 0.559 17.0
12 FSOPC-Head 12/13 12/26 8,000 26,500 8,001 0.550 0.558 84.3
13 CP-purchases 12/17 2008/1/22 3,000 4,465 3,015 0.710* 0.762  
13 FSOPC-All 12/17 2008/3/14 8,000 49,835 8,008 0.580 0.591 72.8
14 Bills-sales 12/14* 12/17 2,000 3,170 2,020 0.550* 0.498  
14 FSOPC-Head 12/17 2008/1/18 3,000 21,661 3,086 0.630* 0.635  
17 FSOPC-Head 12/18 12/21 3,000 15,660 3,001 0.600 0.605 54.4
18 JGSs-purchases 12/20 12/27 8,000 17,771 8,001 0.570 0.583 13.7
19 FSOPC-Head 12/20 2008/1/24 5,000 30,700 5,000 0.620 0.635 76.4
20 JGSs-purchases 12/25 2008/1/4 8,000 29,807 8,003 0.700 0.707 85.4
20 FSOPC-Head 12/21 12/27 4,000 18,610 3,860 0.630* 0.643  
20 FSOPC-Head 12/25 2008/3/31 8,000 42,400 8,007 0.580 0.590 44.4
21 JGSs-purchases 12/25 2008/1/9 8,000 23,027 8,002 0.660 0.680 23.8
21 FSOPC-Head 12/25 2008/1/10 8,000 31,020 8,005 0.660 0.679 14.4
21 FSOPC-Head 12/25 2008/1/31 8,000 27,770 8,003 0.600 0.617 67.7
25 JGSs-purchases 12/27 2008/1/4 8,000 20,767 8,002 0.720 0.735 74.5
25 FSOPC-Head 12/26 2008/1/17 9,000 39,250 9,004 0.630 0.641 55.5
25 FSOPC-All 12/27 2008/3/21 8,000 32,400 8,008 0.580 0.583 65.7
26 JGSs-purchases 12/28 2008/1/17 8,000 27,589 8,001 0.620 0.627 41.9
26 FSOPC-Head 12/27 2008/1/4 8,000 38,030 8,002 0.720 0.722 72.1
26 FSOPC-Head 12/27 2008/1/31 3,000 12,950 3,003 0.590 0.591 77.5
27 JGSs-purchases 2008/1/4 2008/1/24 8,000 24,774 8,005 0.550 0.551 77.5
27 FSOPC-Head 12/28 2008/1/7 5,000 25,200 5,002 0.690 0.698 17.5
27 FSOPC-Head 12/28 2008/1/18 8,000 30,028 8,004 0.610 0.613 39.8
28 FSOPC-Head 12/28* 2008/1/4 8,000 10,310 7,910 0.510* 0.539  

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                
12/4 Outright purchases 12/7 4,000 12,600 4,000 0.002* 0.003  
14 Outright purchases 12/19 4,000 16,094 4,001 0.007 0.008 84.7
20 Outright purchases 12/26 4,000 14,852 4,001 0.000 0.005 46.0

(Memo1)

Outright purchase and sale operations of JGBs

The Bank of Japan offered outright purchase operations of JGBs worth 300.0 billion yen on December 10, 300.0 billion yen on December 17, 300.0 billion yen on December 19 and 300.0 billion yen on December 25. The purchases were exercised at 300.1 billion yen on December 13, 300.3 billion yen on December 20, 300.3billion yen on December 25 and 287.0 billion yen on December 28, respectively.

(Memo2)

Securities lending as a secondary source of JGSs

No purchases in December.

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.