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[Notes on Statistics]Bank of Japan

Data for which no sources are mentioned are compiled by the Bank of Japan.
All times are Japan Standard Time unless noted otherwise.

Contents

Official Discount Rates (1) from August 10, 1955, through August 7, 1968

  1. (a) From February 1, 1959, excluding agricultural bills.
  2. (b) Export Advance Bills (accompanied by irrevocable L / C) and Export Usance Bills in yen.
  3. (c) Export Advance Bills (not accompanied by irrevocable L / C).
  4. (d) Import Settlement Bills, Import Freight Bills and Import Usance Bills in yen. Operation of the Imports Trade Bill System was suspended on January 8,1966.
  5. (e) On September 1, 1967, it was decided, not to apply a fixed rate for the time being.

Official Discount Rates (2) from September 1, 1969, through June 24, 1972

  1. (a) Export Usance Bill System and Export Advance Bill System were abolished in October 1972.
  2. (b) Suspended on March 29, 1972.

Reserve Requirement Ratios

  1. (a) Regarding Sogo Banks and Shinkin Banks, no reserve ratio is established for the balance of deposit subject to reserve requirement which is less than the amount of the reserve ratio establishment criteria shown in this table.
  2. (b) Through March 31, 1970, reserve ratio of 0.5 percent was applied as a transitional measure.
  3. (c) Beginning April 1, 1982, excludes savings.
  4. (d) Beginning, December 1, 1980, shifted to non-resident yen deposits with authorized foreign exchange banks.
  5. (e) Beginning June 1, 1983, no reserve ratio is established from for deposits of 160 billion yen or less but more than 120 billion yen.
  6. (f) Installment savings are included and deposits regarding offshore accounts (beginning December 1, 1986) are excluded. While foreign currency deposits and non-resident yen deposits held by authorized foreign exchange banks are excluded until end of March 1998, all of the foreign currency deposits and non-resident yen deposits are excluded after April 1, 1998.
  7. (g) No reserve ratio was set for amounts of 50 billion yen or less.
  8. (h) The reserve ratios on deposits of Sogo Banks were abolished on April 1,1993.
  9. (i) Beginning April 1996, includes debentures that are the parts of debts succeeded by newly established financial institution by merger from the forerunners of its own; these are limited to designated institutions under the Law Concerning Reserve Deposit Requirement System.
  10. (j) The reserve ratios on deposits of Foreign Exchange Bank were abolished on December 1, 1998.
  11. (k) Foreign Exchange Banks were institutionally abolished after the Foreign Exchange Bank Law was repealed on December 1, 1998.
  12. (l) After April 1, 1998, applied to all the designated financial institutions under the Law Concerning Reserve Deposits Requirement System.

Sources of Changes in Current Account Balances at the Bank of Japan and Market Operations (Final Figures)

  1. Negative signs ("-") represent a shortage of funds in money markets. (Negative signs ("-") represent a net increase in banknotes in circulation and a net receipt of treasury fund and others.)
  2. Beginning October 1977, public offerings and redemptions of Financing Bills are excluded in the Government Securities. They are separately included in the itemized Treasury Funds (i.e. Foreign Exchange Funds and Special Account for Food Control)(through March 1999.)
  3. Beginning April 1999, Financing Bills include issuance and redemptions, and Part of Others is shifted to Foreign Exchange.
  4. The definitions of Total, Net Fiscal Payments and Others in Treasury Funds and Others, Surplus / Shortage of Funds and Outright Purchases of Bills were changed on March 2000, which does not continue before then.
  5. In principle, figures in this table are rounded to the nearest whole number.
    1. (a) Beginning August 1992, parts of Other Funds are shifted to Government Securities.
    2. (b) From March 2000, the figures include the loans contributing to the maintenance of an orderly financial system, which were previously put in BOJ Loans and Market Operations (Loans). (The format was revised in November 2002.) And the figures include the Stock Purchases started in November 2002.
    3. (c) The figures under Purchases of JGSs under Repurchase Agreements in and before October 2002 are of Purchases of JGBs under Repurchase Agreements.
    4. (d) From January 2001, outright purchases of bills utilizing corporate debt obligations are integrated.
    5. (e) From January 2001, integrated into outright purchases of bills.
    6. (f) The figures do not include the loans contributing to the maintenance of an orderly financial system after March 2000. (The format was revised in November 2002.)
    7. (g) The figures before February 2000 show Net Change in Reserve Balances. The data of Net Change in Current Account Balances from January 1999 to February 2000 are available on Information of Alterations and Corrections.
    8. (h) Include the deposit of the Japan Post from April 2003 to September 2007.
    9. (i) From February 2009 to January 2010, the figures include the amount of redemption of TBs issued by January 2009.
    10. (j) From February 2009 to July 2009, the figures include the amount of redemption of FBs issued by January 2009.
    11. (k) From February 2009, "Outright purchases/sales of TBs/FBs" is changed to "Outright purchases/sales of T-Bills."
    12. (l) From October 2010 to March 2013, figures were included in "Funds-supplying operations against pooled collateral," the subitem of "Asset Purchase Program."
    13. (m) From September 2011, "Fund-provisioning measure to support strengthening the foundations for economic growth" in this chart includes loans disbursed pursuant to the special rules for equity investments and asset-based lending.
    14. (n) From June 2012, "Fund-provisioning measure to support strengthening the foundations for economic growth" in this chart includes loans disbursed pursuant to the special rules for small-lot investments and loans.
    15. (o) From April 2013, integrated into "Outright Purchases of JGBs."
    16. (p) From April 2013, integrated into "Outright Purchases of T-bills."
    17. (q) Through March 2013, the items were the subitems of "Asset Purchase Program."
    18. (r) From March 2015, "Fund-provisioning measure to support strengthening the foundations for economic growth" and "Fund-provisioning measure to stimulate bank lending" in this chart include loans disbursed pursuant to "Special Rules for Member Financial Institutions of Central Organizations of Financial Cooperatives to Use the Fund-Provisioning Measure to Support Strengthening the Foundations for Economic Growth and the Fund-Provisioning Measure to Stimulate Bank Lending."

Reserves

  1. Figures of "Current Account Balances excluding Reserve Balances (Average Outstanding)" will no longer be released, because those figures are identical to "Other institutions holding current accounts with the BOJ" (Average outstanding amounts of current account balance and required reserves for each maintenance period) within the data of "BOJ Current Account Balances by Sector" (To download the data files, please click here).
    1. (a) Data show average figures from the 16th of the current month to the 15th of the next month.
    2. (b) Required reserves / liabilities subject to reserve requirements.
    3. (c) Average effective reserve requirement ratio on deposits (excluding foreign currency deposits, non-resident yen deposits and offshore account deposits).

BOJ Current Account Balances by Sector

  1. Figures in this table are rounded to the nearest whole number.
  2. Average amounts outstanding for the last two months are preliminary figures. Figures are rounded to the nearest whole number in units of one billion yen.
    1. (a) Figures up to September 2007 include deposits by the Japan Post and the Japan Post Bank.
    2. (b) "Securities companies" comprises companies that engage in securities-related businesses in the Type I Financial Instruments Business under the Financial Instruments and Exchange Act.
    3. (c) Figures include the reserve balances (the balances of current accounts and special reserve accounts held by institutions subject to the reserve requirement) and the current account balances held by institutions not subject to the reserve requirement.
  3. The reserve maintenance period is from the 16th of the month to the 15th of the following month.

Monetary Base

  1. See the explanatory notes.
  2. Monetary Base = Currency in Circulation (Banknotes in Circulation + Coins in Circulation <both include holdings of financial institutions>) + Current Account Balances (Current Account Deposits in the Bank of Japan) <Reserve Balances are used as for data until March 1981>
  3. Method of adjusting the effect of changes in the reserve requirement rate
    Reserve balances (Reserve requirement rate change adjusted) = Reserve balances of the month * (Average effective reserve requirement rate of base period / Rate of comparison period)
    Base period : following month of the month that the reserve requirement rate is changed.
    Comparison period : the months that the reserve requirement rate is changed---the same month
    the months after the base period---base period
    other months---the previous months of the month that the reserve requirement rate is changed.
    After the base period, figures adjusted to the reserve requirement rate change are equal to those unadjusted because the base period and comparison period are the same month.
    Average effective reserve requirement rate : Required reserve balances / Liabilities subject to reserve requirement
  4. Base period of average effective reserve requirement rate is November 1991.
  5. Reserve Balances for the last two months are preliminary figures.
  6. Amounts outstanding at end of period can also be obtained from <Monetary Base and the Bank of Japan's Transactions (Stock Table)>. Changes during the month can be obtained from <Monetary Base and the Bank of Japan's Transactions (Flow Table)>.
    1. (a) Figures include the Deposit of the Japan Post from April 2003 to September 2007. Figures don't include the Deposit of the Japan Post Bank from October 1, 2007 to October 15, 2007.
    2. (b) Based on the Bureau of Census method X-12-ARIMA (Version 0.3).
  7. The data are regularly revised as follows:
    Every February: the seasonally adjusted data are revised from the beginning of the data.

Monetary Base and the Bank of Japan's Transactions

(1) Stock Table (End of Month)

  1. Figures for March and September of CP, Corporate Bonds, Pecuniary Trusts (ETFs Held as Trust Property), Pecuniary Trusts (J-REITs Held as Trust Property), Pecuniary Trusts (Stocks Held as Trust Property) and Others released in early April and October are preliminary. Final figures are released in early June and December, respectively.
  2. See the explanatory notes.
  3. In principle, figures in this table are rounded to the nearest whole number.
  4. Average amounts outstanding are shown in <Monetary Base>.
    1. (a) The amount outstanding of Japanese government bonds (JGBs) in the assets on the Bank's balance sheet. The figure for April 2001 is calculated by adding the amount outstanding of sales of JGBs to the government under repurchase agreements conducted in or before March 2001 to the amount outstanding of JGBs. JGBs held by the Bank are revalued at the end of the first half of every fiscal year and of the entire fiscal year. Until fiscal 2003, the value was stated at the lower of cost, determined by the moving-average method, or market value. From fiscal 2004, the value is stated at amortized cost, determined by the moving-average method. There is no continuity between figures through March 2001 and those from April 2001 due to changes in the Bank's accounting practice in April 2001 for transactions of government securities under repurchase agreements.
    2. (b) The amount outstanding of JGBs purchased or acquired outright from financial institutions, including those rolled over at maturity and underwritten by the Bank. Calculated by subtracting the amount outstanding of government compensation bonds and other JGBs from that of JGBs held by the Bank. Figures approximately equal the accumulated amount of JGBs purchased or acquired outright from financial institutions minus the sum of redemptions, treasury bills (TBs) issued to roll over matured JGBs and underwritten by the Bank, and sales to the Government Debt Consolidation Fund.
    3. (c) The amount outstanding of government compensation bonds and other JGBs. Stated at face value.
    4. (d) The amount outstanding of JGBs purchased from the government under repurchase agreements. Stated at acquisition cost.
    5. (e) The amount outstanding of JGBs sold to the government under repurchase agreements. Stated at sales-proceeds value.
    6. (f) The amount outstanding of cash collateral against which the Bank borrowed JGBs from financial institutions. This item refers to JGB repo operations.
    7. (g) The amount outstanding of treasury discount bills (consisting of TBs and financing bills [FBs]) in the assets on the Bank's balance sheet. Figures for April and May 2001 are calculated by subtracting the amount outstanding of purchases of TBs and FBs under repurchase agreements conducted in or before March 2001 from that of treasury discount bills. The amount does not match the sum of the detailed items because of the difference in valuation. Treasury discount bills held by the Bank are revalued at the end of the first half of every fiscal year and of the entire fiscal year. Until fiscal 2003, the value was stated at cost determined by the moving-average method. From fiscal 2004, the value is stated at amortized cost, determined by the moving-average method. There is no continuity between figures through March 2001 and those from April 2001 due to changes in the Bank's accounting practice in April 2001 for transactions of government securities under repurchase agreements.
    8. (h) The amount outstanding of FBs underwritten by the Bank and TBs issued to roll over JGBs and TBs and underwritten by the Bank. Figures equal the accumulated amount of these treasury discount bills, subtracting their redemption. Stated at face value.
    9. (i) The amount outstanding of treasury discount bills purchased from financial institutions. Figures equal the accumulated amount of these treasury discount bills, subtracting principally their redemptions including those redeemed before maturity. Stated at acquisition cost.
    10. (j) The amount outstanding of treasury discount bills sold to financial institutions. Figures equal the accumulated amount of these treasury discount bills subtracting their redemption. Stated at sales-proceeds value.
    11. (k) The amount outstanding of net sales of treasury discount bills to the government and others (i.e., the difference between the amount of treasury discount bills sold to and purchased from the government and others). Redeemed treasury discount bills are excluded. Stated at face value.
    12. (l) The amount outstanding of net sales of treasury discount bills to foreign central banks and others (i.e., the difference between the amount of treasury discount bills sold to and purchased from foreign central banks and others). Stated at face value.
    13. (m) The amount outstanding of treasury discount bills sold to foreign central banks and others under repurchase agreements. Stated at face value.
    14. (n) The amount outstanding of treasury discount bills purchased from financial institutions under repurchase agreements. Stated at acquisition cost.
    15. (o) The amount outstanding of treasury discount bills sold to financial institutions under repurchase agreements. Stated at sales-proceeds value.
    16. (p) The amount outstanding of Japanese government securities (JGSs) (JGBs and treasury discount bills) purchased from financial institutions under repurchase agreements. Stated at acquisition cost. The amount outstanding through October 2002 is that of JGBs purchased from financial institutions under repurchase agreements, and thus there is no continuity between figures through October 2002 and those from November 2002.
    17. (q) The amount outstanding of JGSs sold to financial institutions under repurchase agreements. Stated at sales-proceeds value.
    18. (r) The amount outstanding of bills purchased from financial institutions. Stated at face value. Purchases of commercial paper (CP) under repurchase agreements are excluded. From January 2001, outright purchases of bills utilizing corporate debt obligations are integrated.
    19. (s) The amount outstanding of bills backed by corporate debt obligations and purchased from financial institutions. Stated at face value. From January 2001, integrated into "outright purchases of bills."
    20. (t) The amount outstanding of CP, dematerialized CP issued by domestic corporations, dematerialized CP issued by foreign corporations with guarantees, government-guaranteed dematerialized CP, dematerialized asset-backed CP, and dematerialized CP issued by real estate investment corporations purchased from financial institutions under repurchase agreements. Stated at face value.
    21. (u) The amount outstanding of bills drawn by the Bank and sold to financial institutions. Stated at face value.
    22. (v) The amount outstanding of asset-backed securities (asset-backed bonds and asset-backed CP) purchased outright from financial institutions. The value of securities is at amortized cost and reflects changes due to revaluation for impairment losses at the end of March and September.
    23. (w) The amount outstanding of loans and bills discounted pursuant to Article 33 of the Bank of Japan Act and loans backed by loans on deeds pursuant to the proviso of Section 1, Article 43 of the Act. Includes loans under the temporary lending facility to support firms' financing activities for December 1998 through March 1999 and loans under the complementary lending facility from March 2001. Excludes loans to financial institutions provided by funds-supplying operations against pooled collateral, special funds-supplying operations to facilitate corporate financing, the funds-supplying operation to support financial institutions in disaster areas, and the funds-supplying operation to support financial institutions in disaster areas of the 2016 Kumamoto Earthquake. Also excludes loans under the fund-provisioning measure to support strengthening the foundations for economic growth and the fund-provisioning measure to stimulate bank lending.
    24. (x) The amount outstanding of loans pursuant to Article 38 of the Bank of Japan Act.
    25. (y) The sum of items such as loans to the Deposit Insurance Corporation (DIC), capital subscriptions to the DIC and the Agricultural and Fishery Cooperative Savings Insurance Corporation, provision of funds to the DIC's Jusen account, and provision of funds to the New Financial Stabilization Fund.
    26. (z) The amount outstanding of loans to the DIC pursuant to the following: Article 42 and Supplementary Article 20 of the Deposit Insurance Act; Article 65 of the Act on Emergency Measures for the Revitalization of the Financial Functions; and Article 16 of the Act on Emergency Measures for Early Strengthening of Financial Functions.
    27. (A) The amount outstanding of securities lending to financial institutions as a secondary source of JGSs. Stated at sales-proceeds value.
    28. (B) The amount outstanding of pecuniary trusts established to purchase stocks from banks. The value of stocks is stated at the cost determined by the moving-average method and reflects changes due to revaluation for impairment losses at the end of March and September.
    29. (C) The amount outstanding of the treasury deposit, the domestic designated deposit, and other government deposits.
    30. (D) Includes the following items: gold, foreign currency assets, premises and movable property, coins in circulation, deposits held by foreign central banks and others, reserves for possible losses, capital accounts, and deposits with agents, in addition to purchase of foreign securities from the Foreign Exchange Fund Special Account with resale agreement for January through May 2004.
    31. (E) Through March 1998, the figures are those of financial institutions' deposits.
    32. (F) The amount outstanding of current deposits held by financial institutions subject to reserve requirements. The amount outstanding of current deposits held by financial institutions subject to reserve requirements and the Japan Post for April 2003 through September 2007.
    33. (G) The amount outstanding of loans to financial institutions provided by funds-supplying operations against pooled collateral (loans that are made against pooled eligible collateral by way of open market operations with loan rates determined by multiple-rate competitive auctions or at a fixed rate determined by the Bank in advance).
    34. (H) The amount outstanding of loans to financial institutions provided by special funds-supplying operations to facilitate corporate financing (loans that provide funds with pooled eligible collateral as security by way of open market operations for an unlimited amount against the value of corporate debt pledged as the standing pool of eligible collateral at loan rates equivalent to the target for the uncollateralized overnight call rate).
    35. (I) The amount outstanding of loans to financial institutions under the fund-provisioning measure to support strengthening the foundations for economic growth (loans that are made against pooled eligible collateral at a fixed rate determined by the Bank in advance). From December 2012, figures are those of loans conducted through the Bank's Loan Support Program. From September 2011, figures include loans disbursed pursuant to the Special Rules for Equity Investments and Asset-Based Lending to Enhance the Fund-Provisioning Measure to Support Strengthening the Foundations for Economic Growth. From June 2012, figures include loans disbursed pursuant to the Special Rules for Small-Lot Investments and Loans to Enhance the Fund-Provisioning Measure to Support Strengthening the Foundations for Economic Growth. Figures do not include loans disbursed pursuant to the Special Rules for the U.S. Dollar Lending Arrangement to Enhance the Fund-Provisioning Measure to Support Strengthening the Foundations for Economic Growth. These loans are included in foreign currency assets constituting "Others."
    36. (J) The amount outstanding of CP (excluding asset-backed CP and CP issued by real estate investment corporations), dematerialized CP issued by domestic corporations, CP issued by real estate investment corporations, dematerialized CP issued by real estate investment corporations, dematerialized CP issued by foreign corporations with guarantees, asset-backed CP, and dematerialized asset-backed CP purchased from financial institutions. Figures equal the accumulated amount of these securities, subtracting principally their redemptions. The value of securities is stated at amortized cost determined by the moving-average method and reflects changes due to revaluation for impairment losses at the end of March and September.
    37. (K) The amount outstanding of corporate bonds and bonds issued by real estate investment corporations purchased from financial institutions. Figures equal the accumulated amount of these corporate bonds, subtracting principally their redemptions. The value of securities is stated at amortized cost determined by the moving-average method and reflects changes due to revaluation for impairment losses at the end of March and September.
    38. (L) The amount outstanding of pecuniary trusts established to purchase ETFs. The value of ETFs is stated at cost determined by the moving-average method and reflects changes due to revaluation for impairment losses at the end of March and September.
    39. (M) The amount outstanding of pecuniary trusts established to purchase J-REITs. The value of J-REITs is stated at cost determined by the moving-average method and reflects changes due to revaluation for impairment losses at the end of March and September.
    40. (N) The amount outstanding of loans to financial institutions in disaster areas with regard to the Great East Japan Earthquake provided by the funds-supplying operation to support financial institutions in disaster areas (loans that are made against pooled eligible collateral by way of open market operations within the maximum amount determined by the Bank at a fixed rate determined by the Bank in advance).
    41. (O) The amount outstanding of Japanese government bonds (JGBs) in the assets on the Bank's balance sheet. Figures do not include the amount outstanding of JGBs purchased outright from financial institutions through the Bank's Asset Purchase Program.
    42. (P) The amount outstanding of JGBs purchased or acquired outright from financial institutions. Figures do not include the amount outstanding of JGBs purchased outright from financial institutions through the Bank's Asset Purchase Program.
    43. (Q) The amount outstanding of treasury discount bills (consisting of TBs and financing bills [FBs]) in the assets on the Bank's balance sheet. Figures do not include the amount outstanding of treasury discount bills purchased outright from financial institutions through the Bank's Asset Purchase Program.
    44. (R) The amount outstanding of treasury discount bills purchased from financial institutions. Figures equal the accumulated amount of these treasury discount bills, subtracting principally their redemptions including those redeemed before maturity. Stated at acquisition cost. Figures do not include the amount outstanding of treasury discount bills purchased outright from financial institutions through the Bank's Asset Purchase Program.
    45. (S) The amount outstanding of loans to financial institutions provided by funds-supplying operations against pooled collateral (loans that are made against pooled eligible collateral by way of open market operations with loan rates determined by multiple-rate competitive auctions). Figures do not include the amount outstanding of loans to financial institutions through the Bank's Asset Purchase Program.
    46. (T) The amount outstanding of JGBs purchased outright from financial institutions through the Bank's Asset Purchase Program.
    47. (U) The amount outstanding of treasury discount bills purchased outright from financial institutions through the Bank's Asset Purchase Program.
    48. (V) The amount outstanding of loans to financial institutions provided by funds-supplying operations against pooled collateral (loans that are made against pooled eligible collateral by way of open market operations at a fixed rate determined by the Bank in advance) conducted through the Bank's Asset Purchase Program.
    49. (W) The amount outstanding of loans to financial institutions under the fund-provisioning measure to stimulate bank lending (loans that are made against pooled eligible collateral at a fixed rate determined by the Bank in advance).
    50. (X) The amount outstanding of loans to financial institutions in disaster areas with regard to the 2016 Kumamoto Earthquake provided by the funds-supplying operation to support financial institutions in disaster areas (loans that are made against pooled eligible collateral by way of open market operations within the maximum amount determined by the Bank at a fixed rate determined by the Bank in advance).
    51. (Y) The amount outstanding of securities lending to financial institutions to provide JGSs as collateral for the U.S. dollar funds-supplying operations (U.S. dollar denominated loans that are made against pooled eligible collateral by way of open market operations). Stated at sales-proceeds value.

(2) Flow Table (During Month)

  1. Figures for March, April, September and October of CP, Corporate Bonds, Pecuniary Trusts (ETFs Held as Trust Property), Pecuniary Trusts (J-REITs Held as Trust Property), Pecuniary Trusts (Stocks Held as Trust Property) and Others released in early April, May, October and November are preliminary. Final figures for March and April are released in early June and those for September and October are released in early December.
  2. See the explanatory notes.
  3. Average Amounts Outstanding can be obtained from <Monetary Base>.
    1. (a) There is no continuity between figures through March 2001 and those from April 2001 due to changes in the Bank's accounting practice in April 2001 for transactions of government securities under repurchase agreements.
    2. (b) The change in the amount outstanding of Japanese government bonds (JGBs) purchased outright from financial institutions. Stated at acquisition cost.
    3. (c) The change in the amount outstanding of purchases, redemptions, and other transactions of government compensation bonds. Stated at face value.
    4. (d) The change in the amount outstanding of JGBs except those caused by (b) and (c), including the amount of redemptions of JGBs, changes in value arising from revaluation, and sales to the Government Debt Consolidation Fund.
    5. (e) The change in the amount outstanding of JGBs purchased from the government under repurchase agreements. Stated at acquisition cost.
    6. (f) The change in the amount outstanding of JGBs sold to the government under repurchase agreements. Stated at sales-proceeds value.
    7. (g) The change in the amount outstanding of cash collateral against which the Bank borrowed JGBs from financial institutions. This item refers to the JGB repo operations.
    8. (h) The change in the amount outstanding of financing bills (FBs) underwritten by the Bank and treasury bills (TBs) issued to roll over JGBs and TBs and underwritten by the Bank. Stated at face value.
    9. (i) The change in the amount outstanding of treasury discount bills purchased from financial institutions. Stated at acquisition cost.
    10. (j) The change in the amount outstanding of treasury discount bills sold to financial institutions. Stated at sales-proceeds value.
    11. (k) The change in the amount outstanding of net sales of treasury discount bills to the government and others (i.e., the difference between the amount of treasury discount bills sold to and purchased from the government and others). Stated at face value.
    12. (l) The change in the amount outstanding of net sales of treasury discount bills to foreign central banks and other entities (i.e., the difference between the amount of treasury discount bills sold to and purchased from foreign central banks and others). Stated at face value.
    13. (m) The change in the amount outstanding of redemptions of treasury discount bills, changes in value arising from revaluation, and the difference between their book values and sales proceeds are included.
    14. (n) The change in the amount outstanding of treasury discount bills sold to foreign central banks and others under repurchase agreements. Stated at face value.
    15. (o) The change in the amount outstanding of treasury discount bills purchased from financial institutions under repurchase agreements. Stated at acquisition cost.
    16. (p) The change in the amount outstanding of treasury discount bills sold to financial institutions under repurchase agreements. Stated at sales-proceeds value.
    17. (q) The change in the amount outstanding of Japanese government securities (JGSs) (JGBs and treasury discount bills) purchased from financial institutions under repurchase agreements. Stated at acquisition cost. The amount through October 2002 is that of JGBs purchased from financial institutions under repurchase agreements, and thus there is no continuity between figures through October 2002 and those from November 2002.
    18. (r) The change in the amount outstanding of JGSs sold to financial institutions under repurchase agreements. Stated at sales-proceeds value.
    19. (s) The change in the amount outstanding of bills purchased from financial institutions. Stated at face value. Purchases of commercial paper (CP) under repurchase agreements are excluded. From January 2001, outright purchases of bills utilizing corporate debt obligations are integrated.
    20. (t) The change in the amount outstanding of bills backed by corporate debt obligations and purchased from financial institutions. Stated at face value. From January 2001, integrated into "Outright Purchases of Bills."
    21. (u) The change in the amount outstanding of CP, dematerialized CP issued by domestic corporations, dematerialized CP issued by foreign corporations with guarantees, government-guaranteed dematerialized CP, dematerialized asset-backed CP, and dematerialized CP issued by real estate investment corporations purchased from financial institutions under repurchase agreements. Stated at face value.
    22. (v) The change in the amount outstanding of bills drawn by the Bank and sold to financial institutions. Stated at face value.
    23. (w) The change in the amount outstanding of asset-backed securities (asset-backed bonds and asset-backed CP) purchased outright from financial institutions. Figures reflect changes due to revaluation of securities for impairment losses.
    24. (x) The change in the amount outstanding of loans and bills discounted pursuant to Article 33 of the Bank of Japan Act and loans backed by loans on deeds pursuant to the proviso of Section 1, Article 43 of the Act. Includes loans under the temporary lending facility to support firms' financing activities for December 1998 through April 1999 and loans under the complementary lending facility from March 2001. Excludes loans to financial institutions provided by funds-supplying operations against pooled collateral, special funds-supplying operations to facilitate corporate financing, the funds-supplying operation to support financial institutions in disaster areas, and the funds-supplying operation to support financial institutions in disaster areas of the 2016 Kumamoto Earthquake. Also excludes loans under the fund-provisioning measure to support strengthening the foundations for economic growth and the fund-provisioning measure to stimulate bank lending.
    25. (y) The change in the amount outstanding of loans pursuant to Article 38 of the Bank of Japan Act.
    26. (z) The sum of changes in the amount outstanding of items such as loans to the Deposit Insurance Corporation (DIC), capital subscription to the DIC and the Agricultural and Fishery Cooperative Savings Insurance Corporation, provision of funds to the DIC's Jusen account, and provision of funds to the New Financial Stabilization Fund.
    27. (A) The change in the amount outstanding of loans to the DIC pursuant to the following: Article 42 and Supplementary Article 20 of the Deposit Insurance Act; Article 65 of the Act on Emergency Measures for the Revitalization of the Financial Functions; and Article 16 of the Act on Emergency Measures for Early Strengthening of Financial Functions.
    28. (B) The change in the amount outstanding of securities lending to financial institutions as a secondary source of JGSs. Stated at sales-proceeds value.
    29. (C) The change in the amount outstanding of pecuniary trusts established to purchase stocks from banks. Figures reflect changes due to revaluation of stocks for impairment losses.
    30. (D) The change in the amount outstanding of the treasury deposit, the domestic designated deposit, and other government deposits.
    31. (E) Includes the following items: gold, foreign currency assets, premises and movable property, coins in circulation, deposits held by foreign central banks and others, reserves for possible losses, capital accounts, and deposits with agents, in addition to purchase of foreign securities from the Foreign Exchange Fund Special Account with resale agreement for January through May 2004.
    32. (F) The change in the amount outstanding of current deposits held by financial institutions subject to reserve requirements. The change in the amount outstanding of current deposits held by financial institutions subject to reserve requirements and the Japan Post for April 2003 through September 2007.
    33. (G) The change in the amount outstanding of loans to financial institutions provided by funds-supplying operations against pooled collateral (loans that are made against pooled eligible collateral by way of open market operations with loan rates determined by multiple-rate competitive auctions or at a fixed rate determined by the Bank in advance).
    34. (H) The change in the amount outstanding of loans to financial institutions provided by special funds-supplying operations to facilitate corporate financing (loans that provide funds with pooled eligible collateral as security by way of open market operations for an unlimited amount against the value of corporate debt pledged as the standing pool of eligible collateral at loan rates equivalent to the target for the uncollateralized overnight call rate).
    35. (I) The change in the amount outstanding of loans to financial institutions under the fund-provisioning measure to support strengthening the foundations for economic growth (loans that are made against pooled eligible collateral at a fixed rate determined by the Bank in advance). From December 2012, figures are those of loans conducted through the Bank's Loan Support Program. From September 2011, figures include the change in the amount outstanding of loans disbursed pursuant to the Special Rules for Equity Investments and Asset-Based Lending to Enhance the Fund-Provisioning Measure to Support Strengthening the Foundations for Economic Growth. From June 2012, figures include the change in the amount outstanding of loans disbursed pursuant to the Special Rules for Small-Lot Investments and Loans to Enhance the Fund-Provisioning Measure to Support Strengthening the Foundations for Economic Growth. Figures do not include the change in loans disbursed pursuant to the Special Rules for the U.S. Dollar Lending Arrangement to Enhance the Fund-Provisioning Measure to Support Strengthening the Foundations for Economic Growth. These loans are included in foreign currency assets constituting "Others."
    36. (J) The change in the amount outstanding of CP (excluding asset-backed CP and CP issued by real estate investment corporations), dematerialized CP issued by domestic corporations, CP issued by real estate investment corporations, dematerialized CP issued by real estate investment corporations, dematerialized CP issued by foreign corporations with guarantees, asset-backed CP, and dematerialized asset-backed CP purchased from financial institutions. Changes in value arising from revaluation are included.
    37. (K) The change in the amount outstanding of corporate bonds and bonds issued by real estate investment corporations purchased from financial institutions. Changes in value arising from revaluation are included.
    38. (L) The change in the amount outstanding of the pecuniary trusts established to purchase ETFs. Figures reflect changes due to revaluation of ETFs for impairment losses.
    39. (M) The change in the amount outstanding of the pecuniary trusts established to purchase J-REITs. Figures reflect changes due to revaluation of J-REITs for impairment losses.
    40. (N) The change in the amount outstanding of loans to financial institutions in disaster areas with regard to the Great East Japan Earthquake provided by the funds-supplying operation to support financial institutions in disaster areas (loans that are made against pooled eligible collateral by way of open market operations within the maximum amount determined by the Bank at a fixed rate determined by the Bank in advance).
    41. (O) Figures do not include the amount of JGBs purchased outright from financial institutions through the Bank's Asset Purchase Program.
    42. (P) The change in the amount outstanding of Japanese government bonds (JGBs) purchased outright from financial institutions. Stated at acquisition cost. Figures do not include the amount of JGBs purchased outright from financial institutions through the Bank's Asset Purchase Program.
    43. (Q) The change in the amount outstanding of JGBs except those caused by (P) and (c), including the amount of redemptions of JGBs, changes in value arising from revaluation, and sales to the Government Debt Consolidation Fund. Figures do not include the amount of redemptions of JGBs purchased outright from financial institutions through the Bank's Asset Purchase Program.
    44. (R) Figures do not include the amount of treasury discount bills purchased outright from financial institutions through the Bank's Asset Purchase Program.
    45. (S) The change in the amount outstanding of treasury discount bills purchased from financial institutions. Stated at acquisition cost. Figures do not include the amount of treasury discount bills purchased outright from financial institutions through the Bank's Asset Purchase Program.
    46. (T) The change in the amount outstanding of redemptions of treasury discount bills, changes in value arising from revaluation, and the difference between their book values and sales proceeds are included. Figures do not include the amount of redemptions of treasury discount bills purchased outright from financial institutions through the Bank's Asset Purchase Program.
    47. (U) The change in the amount outstanding of loans to financial institutions provided by funds-supplying operations against pooled collateral (loans that are made against pooled eligible collateral by way of open market operations with loan rates determined by multiple-rate competitive auctions). Figures do not include the amount of loans to financial institutions through the Bank's Asset Purchase Program.
    48. (V) The change in the amount outstanding of JGBs purchased outright from financial institutions through the Bank's Asset Purchase Program.
    49. (W) The change in the amount outstanding of treasury discount bills purchased outright from financial institutions through the Bank's Asset Purchase Program.
    50. (X) The change in the amount outstanding of loans to financial institutions provided by funds-supplying operations against pooled collateral (loans that are made against pooled eligible collateral by way of open market operations at a fixed rate determined by the Bank in advance) conducted through the Bank's Asset Purchase Program.
    51. (Y) The change in the amount outstanding of loans to financial institutions under the fund-provisioning measure to stimulate bank lending (loans that are made against pooled eligible collateral at a fixed rate determined by the Bank in advance).
    52. (Z) The change in the amount outstanding of loans to financial institutions in disaster areas with regard to the 2016 Kumamoto Earthquake provided by the funds-supplying operation to support financial institutions in disaster areas (loans that are made against pooled eligible collateral by way of open market operations within the maximum amount determined by the Bank at a fixed rate determined by the Bank in advance).
    53. (aa) The change in the amount outstanding of securities lending to financial institutions to provide JGSs as collateral for the U.S. dollar funds-supplying operations (U.S. dollar denominated loans that are made against pooled eligible collateral by way of open market operations). Stated at sales-proceeds value.

Bank of Japan's Transactions with the Government

  1. (a) The amount outstanding of financing bills (FBs) underwritten by the Bank. Figures equal the accumulated amount of these FBs, subtracting the amount of FBs redeemed. Stated at face value.
  2. (b) The amount outstanding of treasury bills (TBs) issued to finance redemption of Japanese government bonds (JGBs) and TBs and underwritten by the Bank. Figures equal the accumulated amount of these TBs, subtracting the amount of TBs redeemed or sold. Stated at face value.
  3. (c) The amount outstanding of FBs purchased by the Bank from the Government Debt Consolidation Fund. The amount of FBs redeemed is excluded. Stated at face value.
  4. (d) The amount outstanding of FBs purchased by the Bank from the Fiscal Loan Fund. The amount of FBs redeemed is excluded. Stated at face value.
  5. (e) The amount outstanding of FBs and TBs sold by the Bank to the Government Debt Consolidation Fund. The amount of FBs and TBs redeemed is excluded. Stated at face value.
  6. (f) The amount outstanding of FBs and TBs sold by the Bank to the Fiscal Loan Fund. The amount of FBs and TBs redeemed is excluded. Stated at face value.
  7. (g) The amount outstanding of FBs sold by the Bank to the Government Debt Consolidation Fund. The amount of FBs redeemed is excluded. Stated at face value.
  8. (h) The amount outstanding of FBs sold by the Bank to the Fiscal Loan Fund. The amount of FBs redeemed is excluded. Stated at face value.
  9. (i) The amount outstanding of TBs sold by the Bank to the Government Debt Consolidation Fund. The amount of TBs redeemed is excluded. Stated at face value.
  10. (j) The amount outstanding of TBs sold by the Bank to the Fiscal Loan Fund. The amount of TBs redeemed is excluded. Stated at face value.
  11. (k) The amount outstanding of JGBs sold by the Bank to the Government Debt Consolidation Fund under repurchase agreements. Stated at sales-proceeds value.
  12. (l) The amount outstanding of JGBs sold by the Bank to the Fiscal Loan Fund under repurchase agreements. Stated at sales-proceeds value.
  13. (m) The change in the amount outstanding of FBs underwritten by the Bank. Stated at face value.
  14. (n) The amount of FBs underwritten by the Bank. Stated at face value.
  15. (o) The amount redeemed of FBs underwritten by the Bank. Stated at face value.
  16. (p) The change in the amount outstanding of TBs issued to finance redemption of JGBs and TBs and underwritten by the Bank. Stated at face value.
  17. (q) The amount of TBs issued to finance redemption of JGBs and TBs and underwritten by the Bank. Stated at face value.
  18. (r) The amount redeemed or sold of TBs issued to finance redemption of JGBs and TBs and underwritten by the Bank. Stated at face value.
  19. (s) The change in the amount outstanding of FBs purchased by the Bank from the Government Debt Consolidation Fund. Stated at face value.
  20. (t) The amount of FBs purchased by the Bank from the Government Debt Consolidation Fund. Stated at face value.
  21. (u) The amount redeemed of FBs purchased by the Bank from the Government Debt Consolidation Fund. Stated at face value.
  22. (v) The change in the amount outstanding of FBs purchased by the Bank from the Fiscal Loan Fund. Stated at face value.
  23. (w) The amount of FBs purchased by the Bank from the Fiscal Loan Fund. Stated at face value.
  24. (x) The amount redeemed of FBs purchased by the Bank from the Fiscal Loan Fund. Stated at face value.
  25. (y) The change in the amount outstanding of FBs and TBs sold by the Bank to the Government Debt Consolidation Fund. Stated at face value.
  26. (z) The amount of FBs and TBs sold by the Bank to the Government Debt Consolidation Fund. Stated at face value.
  27. (A) The amount redeemed of FBs and TBs sold by the Bank to the Government Debt Consolidation Fund. Stated at face value.
  28. (B) The change in the amount outstanding of FBs and TBs sold by the Bank to the Fiscal Loan Fund. Stated at face value.
  29. (C) The amount of FBs and TBs sold by the Bank to the Fiscal Loan Fund. Stated at face value.
  30. (D) The amount redeemed of FBs and TBs sold by the Bank to the Fiscal Loan Fund. Stated at face value.
  31. (E) The change in the amount outstanding of FBs sold by the Bank to the Government Debt Consolidation Fund. Stated at face value.
  32. (F) The amount of FBs sold by the Bank to the Government Debt Consolidation Fund. Stated at face value.
  33. (G) The amount redeemed of FBs sold by the Bank to the Government Debt Consolidation Fund. Stated at face value.
  34. (H) The change in the amount outstanding of FBs sold by the Bank to the Fiscal Loan Fund. Stated at face value.
  35. (I) The amount of FBs sold by the Bank to the Fiscal Loan Fund. Stated at face value.
  36. (J) The amount redeemed of FBs sold by the Bank to the Fiscal Loan Fund. Stated at face value.
  37. (K) The change in the amount outstanding of TBs sold by the Bank to the Government Debt Consolidation Fund. Stated at face value.
  38. (L) The amount of TBs sold by the Bank to the Government Debt Consolidation Fund. Stated at face value.
  39. (M) The amount redeemed of TBs sold by the Bank to the Government Debt Consolidation Fund. Stated at face value.
  40. (N) The change in the amount outstanding of TBs sold by the Bank to the Fiscal Loan Fund. Stated at face value.
  41. (O) The amount of TBs sold by the Bank to the Fiscal Loan Fund. Stated at face value.
  42. (P) The amount redeemed of TBs sold by the Bank to the Fiscal Loan Fund. Stated at face value.
  43. (Q) The change in the amount outstanding of JGBs sold by the Bank to the Government Debt Consolidation Fund under repurchase agreements. Stated at sales-proceeds value.
  44. (R) The amount of JGBs sold by the Bank to the Government Debt Consolidation Fund under repurchase agreements. Stated at sales-proceeds value.
  45. (S) The amount of JGBs repurchased by the Bank from the Government Debt Consolidation Fund. Stated at sales-proceeds value.
  46. (T) The change in the amount outstanding of JGBs sold by the Bank to the Fiscal Loan Fund under repurchase agreements. Stated at sales-proceeds value.
  47. (U) The amount of JGBs sold by the Bank to the Fiscal Loan Fund under repurchase agreements. Stated at sales-proceeds value.
  48. (V) The amount of JGBs repurchased by the Bank from the Fiscal Loan Fund. Stated at sales-proceeds value.

Bank of Japan Accounts

  1. March and September figures are released in early April and October on a preliminary basis, and final figures are released in early June and December, respectively.
    1. (a) From December 2002, old gold coins are booked in Others.
    2. (b) Coins reserved for circulation.
    3. (c) From April 2001, monetary claims arising from purchases of Japanese government securities and CP under resale agreements are registered under a new accounting item Receivables under Resale Agreements in the asset account. Until then, Japanese government securities and CP bought under resale agreements were classified under Japanese Government Securities and Bills Purchased in the asset account.
    4. (d) Through March 2001, includes commercial paper purchased.
    5. (e) The face value of Japanese government securities borrowed against cash collateral (through "repo" operations).
    6. (f) From November 2010, figures include the amount outstanding of Japanese government securities purchased through the Asset Purchase Program, which terminated on April 4, 2013.
    7. (g) Through January 2009, Financing Bills and Treasury Bills. From February 2009, includes Treasury Discount Bills. From January 2010, Treasury Discount Bills.
    8. (h) Comprises the following types, in dematerialized or physical form: (1) commercial paper issued by domestic corporations; (2) commercial paper issued by foreign corporations with guarantees (dematerialized only); (3) asset-backed commercial paper; and (4) commercial paper issued by real estate investment corporations. From February 2009 through December 2009, the figures exclude commercial paper issued in dematerialized or physical form by real estate investment corporations. From December 2010, the figures include the amount outstanding of commercial paper purchased through the Asset Purchase Program, which terminated on April 4, 2013.
    9. (i) From December 2010, figures include bonds issued by real estate investment corporations.
    10. (j) Stocks purchased from financial institutions through a trust bank.
    11. (k) Index-linked exchange-traded funds purchased through a trust bank.
    12. (l) Japan real estate investment trusts purchased through a trust bank.
    13. (m) The amount outstanding of funds-supplying operations against pooled collateral (loans that are made against pooled eligible collateral by way of open market operations [through November 2009, with loan rates determined by multiple-rate competitive auctions; from December 2009, with loan rates (1) determined by multiple-rate competitive auctions or (2) equivalent to the Bank's target for the uncollateralized overnight call rate <fixed-rate method>]). From January 2009 through June 2010, figures include the amount outstanding of loans to financial institutions provided by special funds-supplying operations to facilitate corporate financing. From September 2010, figures include the amount outstanding of loans to financial institutions under the fund-provisioning measure to support strengthening the foundations for economic growth; from December 2012, those of loans conducted through the Bank's Loan Support Program (figures do not include those loans provided pursuant to the special rules for the U.S. dollar lending arrangement). From October 2010, figures include the amount outstanding of loans to financial institutions provided by funds-supplying operations against pooled collateral conducted through the Bank's Asset Purchase Program, which terminated on April 4, 2013. From May 2011, figures include the amount outstanding of loans to financial institutions provided by funds-supplying operations to support financial institutions in disaster areas. From June 2013, figures include the amount outstanding of loans to financial institutions provided by the fund-provisioning measure to stimulate bank lending conducted through the Bank's Loan Support Program. From June 2016, figures include the amount outstanding of loans to financial institutions provided by funds-supplying operations to support financial institutions in disaster areas of the 2016 Kumamoto Earthquake.
    14. (n) The amount outstanding of loans and bills discounted pursuant to Article 33 of the Bank of Japan Act and loans backed by loans on deeds pursuant to Article 43, the proviso of Section 1 of the Act. Includes loans under the Temporary Lending Facility to Support Firms' Financing Activities for December 1998-March 1999 and loans under the Complementary Lending Facility from March 2001. Excludes loans provided by funds-supplying operations against pooled collateral.
    15. (o) Foreign currency deposits held at foreign central banks and the Bank for International Settlements, securities issued by foreign governments, and foreign currency loans. From July 2003, figures include foreign currency mutual funds. From January 2006 through July 2012, figures include foreign currency pecuniary trusts. From September 2008 through February 2010, and from May 2010, figures include loans provided by U.S. dollar funds-supplying operations against pooled collateral. From October 2012, figures include loans provided pursuant to the special rules for the U.S. dollar lending arrangement to enhance the fund-provisioning measure to support strengthening the foundations for economic growth; from December 2012, those of loans conducted through the Bank's Loan Support Program.
    16. (p) Deposits held by agents that conduct operations relating to treasury funds and Japanese government securities on behalf of the Bank of Japan. These deposits are reserved for such operations.
    17. (q) Cash submitted to counterparts as collateral when the Bank borrows Japanese government securities (through "repo" operations).
    18. (r) From September 2001, reserve for possible losses is reduced.
    19. (s) For JGSs borrowed against cash collateral as a result of the Bank's JGS-borrowing "repo" operations, from April 2001, in the new accounting procedure, only monetary claims arising from such operations are registered on the Bank's balance sheet. Accordingly, Japanese government securities in custody in the asset account and Japanese government securities borrowed in the liability account were abolished. Through March 2001, includes Japanese government securities in custody (in the asset accounts) and Japanese government securities borrowed (in the liabilities and net assets).
    20. (t) Deposits held by foreign central banks and other entities.
    21. (u) From April 2001, monetary obligations arising from sales of Japanese government securities under repurchase agreements are registered under a new accounting item Payables under Repurchase Agreements in the liability account. Until then, Japanese government securities in the asset account decreased as a result of the sale of Japanese government securities under repurchase agreements.
    22. (v) The face value of Japanese government securities borrowed against cash collateral (through "repo" operations).
    23. (w) Includes miscellaneous liabilities and current income (net accumulated profits).
    24. (x) Through August 2001, includes reserve for possible loan losses.

Loans and Discounts by the Bank of Japan

  1. The figures are outstanding amounts of yen-denominated loans and discounts, exclusive of those of funds-supplying operations against pooled collateral and of subordinated loans from June 2009 through June 2012.
  2. Funds-supplying operations against pooled collateral, which are referred to in above 1., correspond to loans that are made against pooled eligible collateral by way of open market operations, i.e. through November 2009, those with loan rates determined by multiple-rate competitive auctions, and from December 2009, those with loan rates determined by multiple-rate competitive auctions or equivalent to the Bank's target for the uncollateralized overnight call rate (fixed-rate method). The following are included in such loans: loans to financial institutions provided by special funds-supplying operations to facilitate corporate financing from January 2009 through June 2010; loans to financial institutions under the fund-provisioning measure to support strengthening the foundations for economic growth from September 2010 and conducted through the Bank's Loan Support Program except for loans provided pursuant to the special rules for the U.S. dollar lending arrangement from December 2012; loans to financial institutions provided by funds-supplying operations against pooled collateral conducted through the Bank's Asset Purchase Program from October 2010 to April 4, 2013, when the Program terminated; loans to financial institutions provided by funds-supplying operations to support financial institutions in disaster areas from May 2011; loans to financial institutions provided by the fund-provisioning measure to stimulate bank lending conducted through the Bank's Loan Support Program from June 2013; and loans to financial institutions provided by funds-supplying operations to support financial institutions in disaster areas of the 2016 Kumamoto Earthquake from June 2016.
  3. The figures include the amount outstanding of loans under the temporary lending facility to support firms' financing activities for December 1998 to March 1999 and loans under the complementary lending facility from March 2001.
  4. The figures in (a) exclude the amount outstanding of loans to the Resolution and Collection Corporation (through March 1999, Resolution and Collection Bank) and Kii Deposit Management Bank (dissolved on March 31, 2002), the Bridge Bank of Japan (dissolved on March 8, 2004), and the Second Bridge Bank of Japan (the business was transferred on December 26, 2011).
    The figures in (b) include the amount outstanding of loans to the Resolution and Collection Corporation, Kii Deposit Management Bank, the Japan Post Bank, foreign banks in Japan, shinkin banks, cooperative-type specialized financial institutions, and the financial instruments firms, etc., and exclude that to the Bridge Bank of Japan, the Second Bridge Bank of Japan, and the Deposit Insurance Corporation of Japan. Through March 1989, the figures include that to sogo banks.

Collateral Accepted by the Bank of Japan

  1. Collateral accepted under the basic rules concerning collateral, agreed between the Bank of Japan and its counterparties (excluding foreign-denominated foreign bonds and loans on deeds to companies denominated in the U.S. dollar).
  2. Face value: outstanding principal balance for bonds such as pass-through bonds, electronically recorded monetary claims, and loans on deeds, for any of which the principal balance may decrease due to prepayments before the final maturity date; and the sum of the total amount of outstanding principal balance and repaid principal balance of housing loans in the trust property for beneficial interests of a trust in housing loans.
  3. Collateral value: market price adjusted by haircut for bonds (excluding government-guaranteed dematerialized commercial paper, dematerialized commercial paper issued by domestic corporations, dematerialized commercial paper issued by foreign corporations with guarantees, dematerialized asset-backed commercial paper, dematerialized commercial paper issued by real estate investment corporations, and foreign-denominated foreign bonds); yen equivalent of market price adjusted by haircut for foreign-denominated foreign bonds; principal balance adjusted by haircut for government-guaranteed dematerialized commercial paper, dematerialized commercial paper issued by domestic corporations, dematerialized commercial paper issued by foreign corporations with guarantees, dematerialized asset-backed commercial paper, and dematerialized commercial paper issued by real estate investment corporations; face value adjusted by haircut for bills; outstanding principal balance adjusted by haircut for electronically recorded monetary claims and loans on deeds (excluding loans on deeds to companies denominated in the U.S. dollar); yen equivalent of outstanding principal balance adjusted by haircut for loans on deeds to companies denominated in the U.S. dollar; and the sum of the total amount of outstanding principal balance and repaid principal balance of housing loans in the trust property adjusted by haircut for beneficial interests of a trust in housing loans. As for bonds such as pass-through bonds whose principal balance may decrease due to prepayments before the final maturity date: outstanding principal balance adjusted by haircut for figures until end-May 2005; and market price adjusted by haircut for figures from end-June 2005.
  4. In principle, figures in this table are rounded to the nearest whole number.
    1. (a) Foreign-denominated foreign bonds and loans on deeds to companies denominated in the U.S. dollar are excluded.
    2. (b) Treasury bills and financing bills.
    3. (c) From May 2011, companies include entities owned by municipal governments.
    4. (d) From April 2009, figures are included in "Loans on deeds to the government (including the government's special accounts)."
    5. (e) From April 2009, figures are included in "Loans on deeds with government guarantees."