Skip to main content

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

November 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                  
10/5 CP-purchases 10/7 11/22 4,000 7,872 3,965 0.002 0.002 51.7
6 JGSs-purchases 10/11 12/8 4,000 6,413 4,003 0.001 0.001 62.4
6 Bills-purchases-All 10/11 2006/3/10 8,000 27,240 8,003 0.008 0.010 62.7
11 CP-purchases 10/13 11/28 4,000 6,734 3,962 0.002 0.003 54.3
11 Bills-purchases-Head 10/13 2006/2/3 8,000 16,204 8,001 0.004 0.007 25.7
12 JGSs-sales 10/14 10/25 10,000 40,550 10,007 0.001 0.001 26.7
12 Bills-sales 10/13 10/20 12,000 53,300 12,005 0.001 0.001 23.5
13 JGSs-purchases 10/17 12/19 4,000 5,935 4,003 0.001 0.001 66.7
13 Bills-sales 10/14 11/15 12,000 40,400 12,002 0.001 0.001 90.9
14 Bills-purchases-All 10/18 2006/3/20 8,000 19,875 8,005 0.008 0.009 54.6
17 Bills-sales 10/18 10/31 8,000 42,800 8,008 0.001 0.001 19.7
18 CP-purchases 10/20 12/6 4,000 7,249 3,966 0.002 0.002 65.0
18 Bills-purchases-Head 10/20 2006/2/10 8,000 21,159 8,004 0.003 0.005 16.9
21 JGSs-purchases 10/25 12/22 4,000 2,639 2,639 0.001 * 0.001
21 Bills-purchases-Head 10/25 2006/2/15 8,000 19,370 8,150 0.003 * 0.004
25 CP-purchases 10/27 12/9 4,000 8,508 3,980 0.003 0.003 61.3
25 Bills-purchases-All 10/27 2006/3/20 8,000 29,755 8,003 0.006 0.008 66.2
27 JGSs-purchases 10/31 2006/1/10 4,000 5,530 4,153 0.002 * 0.002
27 Bills-sales 10/28 11/15 12,000 39,900 12,002 0.001 0.001 42.4
27 Bills-purchases-Head 10/31 2006/2/17 8,000 29,688 8,005 0.002 0.003 16.8
31 Bills-sales 11/2 11/25 12,000 27,250 12,003 0.001 0.001 65.4

<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                
10/7 Outright purchases 10/13 5,000 6,846 5,003 0.000 0.002 79.0
11 Outright sales 10/14 6,000 33,001 6,006 0.000 0.000 18.8
14 Outright purchases 10/19 5,000 9,757 5,005 0.000 0.000 57.9
21 Outright purchases 10/26 5,000 6,141 5,002 -0.012 0.001 45.2
28 Outright purchases 11/2 4,000 8,574 4,002 0.000 0.000 84.1

<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              
10/6 10/11 1,000 133 106 0.000 0.002 55.0
19 10/21 1,000 303 242 0.001 0.001 74.0

(Memo1)

Outright purchase and sale operations of JGBs
The Bank of Japan offered outright purchase operations of JGBs worth 300.0 billion yen on October 5, 300.0 billion yen on October 11, 300.0 billion yen on October 19 and 300.0 billion yen on October 26. The purchases were exercised at 300.6 billion yen on October 11, 300.9 billion yen on October 14, 300.6 billion yen on October 24 and 303.9 billion yen on October 31, respectively.

(Memo2)

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

(Memo3)

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

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.