April 7, 2006
Bank of Japan

Notes: 1 The Bank's total assets outstanding at the end of March 2006 is 144.6 trillion yen, with an approximate decrease of 5.9 trillion yen from the corresponding balance of 150.5 trillion yen at the end of March 2005 (the rate of decrease is 3.9%).

2 Main reasons for year-on-year changes in major items:

Assets

Year-on-Year Differences (Rate of Changes)

Receivables under resale agreements

-0.0 trillion yen (-0.7%)

The amount outstanding of receivables under resale agreements is almost the same as that of last year. This reflects the increase in funds provision through purchases of JGSs under repurchase agreements and the fall in funds provision through purchases of CP under repurchase agreements.

Bills purchased

+0.2 trillion yen (+0.5%)

The amount outstanding of bills purchased is almost the same as that of last year since the funds provision through bill-purchasing operations remained almost the same as last year.

Government securities

-5.9 trillion yen (-5.9%)

The decrease reflects the fact that the amount of government securities redeemed and sold exceeded the amount of those purchased and underwritten by the Bank.

Liabilities

Year-on-Year Differences (Rate of Changes)

Banknotes

+0.3 trillion yen (+0.4%)

The amount outstanding of banknotes is almost the same as that of last year reflecting demand for banknotes.

Current deposits

-4.6 trillion yen (-12.7%)

The decrease reflects the Bank's money market operations conducted in accordance with the new guideline for money market operations decided at the Monetary Policy Meeting.

Deposits of the government

-1.0 trillion yen (-13.4%)

The decrease reflects management of treasury funds.

Payables under repurchase agreements

-0.1 trillion yen (-0.4%)

The amount outstanding of payables under repurchase agreements is almost the same as that of last year. This reflects decrease in sales of JGBs under repurchase agreements to the government and increase in sales of TBs/FBs under repurchase agreements to foreign central banks and international institutions.

Bills sold

-0.4 trillion yen (-21.9%)

The decrease reflects the fall in funds absorption through bill-selling operations. 3 Coins reserved for circulation.

4 Includes asset-backed bonds and asset-backed commercial paper.

5 Stocks purchased from financial institutions through a trust bank, and other trust properties.

6 Includes foreign currency deposits held at foreign central banks and the Bank for International Settlements, securities issued by foreign governments, foreign currency mutual funds and foreign currency pecuniary trusts.

7 Deposits held at agencies that conduct operations relating to treasury funds and government securities on behalf of the Bank of Japan. These deposits are reserved for such operations.

8 Deposits held by foreign central banks and others.

9 Includes miscellaneous liabilities and current income (net accumulated profits). For reports from April to around mid-May, net income for the previous fiscal year before appropriation is also included.