Change in a Definition concerning Bonds and Notes in the Balance of Payments Statistics

January 17, 2006
Bank of Japan
International Department

The definition of "Issues & Redemptions," under the sub-category of "Bonds and Notes," has been changed, as indicated in a footnote in Balance of Payments Monthly from the January 2005 issue onward. The footnote has not been posted on the Bank of Japan's web site. This is to inform its readers that the following changes have been made:

Portfolio Investment (Assets), Bonds and Notes (Assets) Issues & Redemptions --> Issues

Until December 2004, figures showed the issues of yen-denominated foreign bonds by non-residents in the Japanese market less their redemptions. Negative figures (-) indicated that the issues exceeded the redemptions. From January 2005 onward, figures show only the issues of such bonds and notes.

Portfolio Investment (Liabilities), Bonds and Notes (Liabilities) Issues & Redemptions --> Issues

Until December 2004, figures showed the issues of bonds by residents in foreign markets less their redemptions. Negative figures (-) indicated that the redemptions exceeded the issues. From January 2005 onward, figures show only the issues of such bonds and notes.

For inquiries, please contact the Balance of Payments Statistics Section of the Bank of Japan (tel. +81-3-3277-1381, +81-3-3277-1376).