Margin Ratios for the Purchase/Sale of Japanese Government Securities with Repurchase Agreements
January 31, 2017
Revision: September 26, 2017
October 5, 2018
October 18, 2019
October 9, 2020
October 8, 2021
October 7, 2022
October 10, 2023
October 11, 2024
Margin Ratios for the Bank of Japan's purchase/sale of Japanese government securities with repurchase agreements conducted based on the Policy Board decisions listed in 1. and 2. below shall be as follows.
1. Margin Ratios Stipulated in 7. (2) in "Principal Terms and Conditions for the Purchase/Sale of Japanese Government Securities with Repurchase Agreements" (Policy Board Decision on September 18, 2002)
| Categories of Japanese Government Securities | Residual Maturity | |||||
|---|---|---|---|---|---|---|
| up to 1 year | more than 1 year and up to 5 years | more than 5 years and up to 10 years | more than 10 years and up to 20 years | more than 20 years and up to 30 years | more than 30 years | |
| Government Bonds 1 and Treasury Discount Bills 2 | 1.002 | 1.004 | 1.009 | 1.016 | 1.028 | 1.039 |
| Floating-Rate Bonds | -- | -- | -- | -- | -- | -- |
| Inflation-Indexed Bonds | 1.018 | 1.020 | 1.025 | -- | -- | -- |
Notes:
- Floating-rate bonds and inflation-indexed bonds are excluded, hereinafter the same.
- Treasury discount bills are treasury bills and financing bills, hereinafter the same.
| Categories of Japanese Government Securities | Residual Maturity | |||||
|---|---|---|---|---|---|---|
| up to 1 year | more than 1 year and up to 5 years | more than 5 years and up to 10 years | more than 10 years and up to 20 years | more than 20 years and up to 30 years | more than 30 years | |
| Government Bonds and Treasury Discount Bills | 0.999 | 0.997 | 0.992 | 0.985 | 0.973 | 0.964 |
| Floating-Rate Bonds | -- | -- | -- | -- | -- | -- |
| Inflation-Indexed Bonds | 0.983 | 0.981 | 0.976 | -- | -- | -- |
2. Margin Ratios Stipulated in 8. (2) in "Principal Terms and Conditions for the Sale of Japanese Government Securities with Repurchase Agreements to Provide the Markets with a Secondary Source of Japanese Government Securities" (Policy Board Decision on April 9, 2004)
| Categories of Japanese Government Securities | Residual Maturity | |||||
|---|---|---|---|---|---|---|
| up to 1 year | more than 1 year and up to 5 years | more than 5 years and up to 10 years | more than 10 years and up to 20 years | more than 20 years and up to 30 years | more than 30 years | |
| Government Bonds and Treasury Discount Bills | 0.999 | 0.997 | 0.992 | 0.985 | 0.973 | 0.964 |
| Floating-Rate Bonds | -- | -- | -- | -- | -- | -- |
| Inflation-Indexed Bonds | 0.983 | 0.981 | 0.976 | -- | -- | -- |