April 27, 2000
Revision:	October 13, 2000
	March 19, 2001
	September 18, 2002
	September 19, 2007
	February 18, 2014

1. Purpose

These Terms and Conditions prescribe the principles for the Bank of Japan's sale of bills issued by the Bank with the aim of facilitating money market operations.

2. Location of the Operations

At the Head Office (Operations Department) of the Bank.

3. Eligible Counterparties

Eligible counterparties shall, pursuant to the Bank's relevant rules, be selected from institutions satisfying one of the eligibility criteria listed below; however, the Resolution and Collection Corporation, bridge banks (as defined in Article 2, Paragraph 13 of the Deposit Insurance Act [Act No. 34, 1971]), and specified bridge financial institutions (as defined in Article 126-34, Paragraph 3, Clause 5 of the Act) shall be excluded from these institutions.

(1)	financial institutions (as defined in Article 37, Paragraph 1 of the Bank of Japan Act [Act No. 89, 1997])
(2)	financial instruments firms (as defined in Article 10, Paragraph 1, Clause 2 of the Order for Enforcement of the Bank of Japan Act [Order No. 385, 1997]) that conduct the type I financial instruments business (as defined in Article 28, Paragraph 1 of the Financial Instruments and Exchange Act [Act No. 25, 1948])
(3)	securities finance companies (as defined in Article 10, Paragraph 1, Clause 3 of the Order)
(4)	tanshi companies (as defined in Article 10, Paragraph 1, Clause 4 of the Order)

4. Bills to be Sold

The Bank shall sell bills whose drawers, drawees, and payees are the Bank itself, and whose acceptance the Bank has completed. The date of maturity of the bills must be within three months from the next date of sale.

5. Selling Method

Bills shall be sold through a discount method. The rate of discount is determined by multiple-rate competitive auction.

6. Dates for sales, Amount of Bills to be Sold, etc.

Taking into account conditions in financial markets, the Bank shall determine specifications necessary for sales, including dates for sales, amount of bills to be sold, and counterparties, for each sale.