Skip to main content

Bank of Japan Operations in the Money Markets (February 2005)

March 1, 2005
Bank of Japan
Financial Markets Department

Operations by Transactions under Repurchase Agreements and Purchases and Sales of Bills

Table: Operations by Transactions under Repurchase Agreements and Purchases and Sales of Bills(100 million yen, percent per annum)
Date
of
Offer		 Instrument Date of Exercise Date of
Resale or
Repurchase		 (a)
Amounts Offered		 Amounts of Competitive Bid Amounts of Successful Bid (b)
Pro-rata or Non-pro-rata Rate		 Average Successful Bid Rate Allocation on a Pro-rata Basis Rate
2005                  
2/1 Bills-purchases-All 2/3 9/15 10,000 6,940 6,940 0.001* 0.001 -
2 CP-purchases 2/4 4/5 6,000 2,863 2,863 0.001* 0.001 -
2 Bills-purchases-Head 2/4 6/7 8,000 1,535 1,535 0.001* 0.001 -
2 Bills-purchases-All 2/4 10/7 10,000 8,510 8,510 0.001* 0.001 -
3 JGSs-purchases 2/7 3/15 4,000 5,073 4,002 0.001 0.001 78.9
3 CP-purchases 2/7 3/7 6,000 2,583 2,583 0.001* 0.001 -
4 Bills-purchases-Head 2/8 7/26 4,000 2,400 2,400 0.001* 0.001 -
7 JGSs-purchases 2/9 4/15 4,000 1,150 1,150 0.001* 0.001 -
7 Bills-purchases-All 2/9 10/14 10,000 12,403 10,012 0.001 0.001 80.7
8 CP-purchases 2/10 4/11 4,000 1,615 1,615 0.001* 0.001 -
9 JGSs-purchases 2/14 3/22 4,000 4,997 4,002 0.001 0.001 80.1
9 Bills-purchases-Head 2/14 6/15 4,000 1,350 1,350 0.001* 0.001 -
10 JGSs-sales 2/15 2/21 10,000 46,550 10,007 0.001 0.001 21.5
10 JGSs-sales 2/15 2/25 10,000 49,050 10,007 0.001 0.001 20.4
10 CP-purchases 2/15 3/14 4,000 3,396 3,396 0.001* 0.002 -
10 Bills-sales 2/14 2/21 12,000 76,450 12,010 0.001 0.001 15.8
14 JGSs-sales 2/16 2/25 10,000 53,200 10,004 0.001 0.001 18.8
14 Bills-sales 2/15 2/21 18,000 86,500 18,008 0.001 0.001 20.9
15 JGSs-purchases 2/17 4/19 4,000 2,329 2,329 0.001* 0.001 -
15 CP-purchases 2/17 4/14 4,000 1,621 1,621 0.001* 0.001 -
15 Bills-purchases-All 2/17 10/21 10,000 13,356 10,009 0.001 0.001 74.5
16 Bills-purchases-Head 2/18 8/15 4,000 2,100 2,100 0.001* 0.001 -
17 CP-purchases 2/21 3/22 4,000 2,642 2,642 0.001* 0.001 -
18 JGSs-sales 2/22 3/2 8,000 33,100 8,000 0.001 0.001 25.0
18 Bills-purchases-All 2/22 11/8 10,000 12,991 10,008 0.001 0.001 76.9
21 JGSs-purchases 2/23 4/22 4,000 2,789 2,789 0.001* 0.001 -
22 CP-purchases 2/24 4/21 4,000 3,015 3,015 0.001* 0.001 -
22 Bills-purchases-Head 2/24 6/23 8,000 1,659 1,659 0.001* 0.001 -
23 Bills-purchases-All 2/25 11/16 10,000 9,297 9,297 0.001* 0.001 -
25 Bills-purchases-Head 3/1 9/9 8,000 1,950 1,950 0.001* 0.001 -
28 JGSs-purchases 3/2 6/13 4,000 787 787 0.001* 0.001 -

Outright Purchase and Sale Operations of TBs and FBs

Table: 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
2005                
2/3 Outright purchases 2/8 8,000 21,168 8,012 0.000 0.000 40.2
4 Outright purchases 2/9 10,000 15,074 10,014 0.000 0.000 72.5
7 Outright sales 2/10 3,000 19,800 3,005 0.000 0.000 16.1
8 Outright purchases 2/14 8,000 16,568 8,013 0.000 0.000 51.1
9 Outright purchases 2/15 10,000 16,004 10,018 0.000 0.000 65.4
16 Outright purchases 2/21 6,000 19,472 6,017 0.000 0.000 33.0
17 Outright purchases 2/22 6,000 28,622 6,019 0.000 0.000 18.4
18 Outright purchases 2/23 6,000 17,143 6,009 0.001* 0.001 -
24 Outright purchases 3/1 6,000 25,379 6,012 0.000 0.001 4.5
25 Outright purchases 3/2 6,000 31,671 6,001 0.001 0.002 77.0

Outright Purchase Operations of ABCP

Table: Outright Purchase Operations of ABCP(100 million yen, percent per annum)
Date of Offer Date of Exercise Maximum Purchase Amount Amounts of Competitive Bid Amounts of Successful Bid (d)
Pro-rata or Non-pro-rata Yield Spread		 Average Successful Yield Spread Allocation on a Pro-rata Basis Rate
2005              
2/9 2/14 1,000 846 674 0.000 0.001 57.8
16 2/18 1,000 945 743 0.001 0.002 83.5
24 2/28 1,000 691 552 0.000 0.001 71.9

(Memo1)

Outright purchase and sale operations of JGBs
The Bank of Japan offered outright purchase operations of JGBs worth 300.0 billion yen on February 2, 300.0 billion yen on February 8, 300.0 billion yen on February 17 and 300.0 billion yen on February 23. The purchases were exercised at 300.4 billion yen on February 7, 297.5 billion yen on February 14, 314.4 billion yen on February 22 and 300.5 billion yen on February 28, respectively.

(Memo2)

Outright purchases of asset-backed bonds
No purchases in February.

(Memo3)

Securities lending as a secondary source of JGSs
No purchases in February.

NOTES:

  1. Bills-sales : Outright Sales of Bills Drawn by BOJ
    Bills-purchases-Head : Outright Purchases of Bills at Head Office
    Bills-purchases-All : Outright Purchases of Bills 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.
    1. (a) Planned amounts on offer days.
    2. (b) * denotes non-pro-rata rates; otherwise the figures denote pro-rata rates.
    3. (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. (d) The difference between the yield at which operation counterparts want to sell and the corresponding floor yield determined by the Bank of Japan with the maturities and 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:
    those without *: the next business day after the offering date.
    those with *: the fourth business day after the offering date.