Bank of Japan Operations in the Money Markets (July 2008)
August 1, 2008
Bank of Japan
Financial Markets Department
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 |
|---|---|---|---|---|---|---|---|---|---|
2008 7/1 1 2 3 3 4 4 4 7 7 7 8 8 9 9 9 10 10 10 11 11 14 14 15 15 15 16 17 17 17 18 22 22 23 23 24 25 25 28 28 29 29 30 31 31 31 |
FSOPC-Head FSOPC-Head FSOPC-Head JGSs-purchases FSOPC-Head JGSs-purchases FSOPC-Head FSOPC-All Bills-sales FSOPC-Head FSOPC-Head FSOPC-Head FSOPC-All JGSs-purchases FSOPC-Head FSOPC-Head JGSs-purchases FSOPC-Head FSOPC-Head JGSs-purchases FSOPC-Head FSOPC-Head FSOPC-Head Bills-sales FSOPC-Head FSOPC-Head FSOPC-Head JGSs-purchases FSOPC-Head FSOPC-All FSOPC-Head FSOPC-Head FSOPC-Head FSOPC-Head FSOPC-All FSOPC-Head JGSs-purchases FSOPC-Head FSOPC-Head FSOPC-Head JGSs-purchases FSOPC-Head FSOPC-Head JGSs-purchases FSOPC-Head FSOPC-All |
7/2 7/2 7/3 7/7 7/4 7/8 7/7 7/8 7/7* 7/8 7/9 7/9 7/10 7/11 7/10 7/10 7/14 7/11 7/11 7/15 7/14 7/15 7/16 7/15* 7/16 7/16 7/17 7/22 7/18 7/22 7/22 7/23 7/24 7/24 7/25 7/25 7/29 7/28 7/29 7/30 7/31 7/30 7/31 8/4 8/1 8/4 |
7/16 8/22 7/15 7/23 7/18 7/25 7/28 9/22 7/8 7/22 10/7 7/25 9/25 7/31 7/29 8/4 8/1 8/8 9/5 8/5 8/18 8/27 10/15 7/16 8/1 8/15 8/5 8/7 9/19 10/9 8/1 8/22 10/15 8/14 10/10 7/31 8/15 8/19 8/7 10/23 8/19 8/14 8/29 8/20 8/15 10/22 |
10,000 9,000 3,000 6,000 10,000 8,000 4,000 8,000 2,000 5,000 8,000 4,000 8,000 8,000 8,000 6,000 8,000 6,000 6,000 8,000 8,000 2,000 8,000 2,000 4,000 8,000 8,000 8,000 10,000 8,000 8,000 6,000 8,000 10,000 8,000 7,000 6,000 5,000 3,000 8,000 6,000 6,000 7,000 8,000 7,000 8,000 |
48,200 41,460 18,160 20,456 35,312 24,728 16,098 36,116 5,980 20,150 36,752 21,373 39,380 22,228 28,950 30,630 23,606 37,059 31,100 22,409 41,800 9,750 44,250 5,170 13,419 20,300 24,828 23,873 29,251 45,947 26,500 30,000 38,560 42,500 48,895 29,308 20,488 30,317 16,050 40,300 17,460 24,469 28,750 26,913 30,350 48,550 |
10,003 9,004 3,004 6,003 10,003 8,005 4,004 8,009 2,002 5,003 8,006 4,006 8,012 8,003 8,005 6,003 8,005 6,005 6,003 8,007 8,005 2,000 8,008 2,170 4,004 8,003 8,005 8,003 10,002 8,010 8,004 6,008 8,003 10,005 8,016 7,003 6,007 5,003 2,950 8,003 6,005 6,003 7,004 8,005 7,006 8,012 |
0.560 0.560 0.560 0.550 0.540 0.540 0.540 0.560 0.510 0.540 0.570 0.550 0.560 0.540 0.540 0.550 0.550 0.550 0.550 0.550 0.550 0.550 0.570 0.510* 0.540 0.540 0.540 0.530 0.540 0.570 0.530 0.530 0.570 0.530 0.570 0.530 0.530 0.540 0.550* 0.570 0.540 0.540 0.540 0.530 0.530 0.570 |
0.565 0.567 0.562 0.550 0.545 0.541 0.547 0.566 0.500 0.548 0.579 0.550 0.561 0.547 0.547 0.556 0.551 0.554 0.555 0.552 0.551 0.552 0.572 0.501 0.545 0.548 0.541 0.537 0.542 0.575 0.533 0.538 0.571 0.533 0.571 0.536 0.535 0.540 0.555 0.571 0.547 0.549 0.545 0.540 0.538 0.571 |
26.0 19.0 82.6 96.2 28.8 50.5 20.7 55.3 29.3 11.8 15.1 39.8 46.7 20.8 17.3 23.2 79.7 20.8 24.9 54.2 29.5 30.0 32.5 21.5 15.4 46.5 19.7 41.0 43.3 32.0 6.2 92.6 32.7 51.4 93.1 27.8 65.7 46.4 23.6 15.7 35.1 3.0 9.9 44.5 |
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 |
|---|---|---|---|---|---|---|---|---|
2008 7/3 8 18 25 29 |
Outrightpurchases Outrightpurchases Outrightpurchases Outrightpurchases Outrightpurchases |
7/8 7/11 7/24 7/30 8/1 |
4,000 4,000 4,000 4,000 4,000 |
12,503 22,082 12,707 12,417 20,067 |
4,001 4,001 4,001 4,000 4,002 |
0.002 0.009 0.005 0.002 0.003 |
0.004 0.010 0.006 0.007 0.004 |
16.9 31.3 45.3 48.0 15.4 |
| (Memo1) | Outright purchase and sale operations of JGBs | |
| The Bank of Japan offered outright purchase operations of JGBs worth 300.0 billion yen on July 2, 300.0 billion yen on July 7, 300.0 billion yen on July 16 and 300.0 billion yen on July 23. The purchases were exercised at 293.0 billion yen on July 7, 300.1 billion yen on July 10, 315.0 billion yen on July 22 and 300.1 billion yen on July 28, respectively. | ||
| (Memo2) | Securities lending as a secondary source of JGSs | |
| No purchases in July. | ||
| 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. | |
| 3. | (a) Planned amounts on offer days. | |
| (b) * denotes non-pro-rata rates, loan rates; otherwise the figures denote pro-rata rates, loan 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. | |
