Release of "Repo Rate (indication, aggregated)"

December 18, 2000
Bank of Japan
Financial Markets Department

The Financial Markets Department of the Bank of Japan is today releasing the Repo Rate (indication, aggregated), reported by the counterparties to the Bank of Japan's market operations, as one of the efforts to enhance the information in the repo market.

Data released include the repo rate for General Collateral (GC), which is the transaction in borrowing and lending JGB without specifying issues, and Special Collateral (SC), which is the transaction specifying issues. Individual figures are averages of indicative rates (excluding 3 figures on either end) for each term (O/N, 1W, etc.) and issues for SC ¹. Items in the table may be revised in subsequent releases as appropriate, reflecting market participants' trading activities and information available from reporting institutions. GC repo rate figures are reported by counterparties to the Bank of Japan's JGB borrowing operations (35 institutions as of end-November 2000). SC repo rate figures are reported by counterparties to the JGB outright purchases/sales operations (38 institutions as of end-November 2000). Changes in operation counterparties will be reflected as changes in reporting samples.

Because information on official and unbiased repo market rates available at present is limited, "Repo Rate" is intended to complement information offered by private market participants in order to encourage improvements in repo market infrastructure, and to contribute to enhancing market liquidity in the repo market and the JGB market (See Market Review, November 2000, 2000-J-2, in Japanese). When this purpose is deemed to have been fulfilled through other means, such as provision of sufficient information by other sources, the Bank of Japan may discontinue the release of "Repo Rate".

As a rule, data will be released every business day in the evening (at about 5:30 p.m.) and will be posted on this website. Weekly time series data will be released on this website the following week. Data released daily are preliminary. Please refer to the time series data for final figures.

1. Figures for items reported by fewer than or equal to 6 institutions are recorded as N.A. (Not Available) and, figures for items reported by no institutions are left blank.

For further information, contact

Money and Capital Markets Division, Financial Markets Department

Tokiko Shimizu (Tel: +81-3-3277-3543)
(E-mail: tokiko.shimizu@boj.or.jp)