JGB Issuance Overview
JGB Issuance Overview
<Breakdown by Fiscal Needs>
(billion yen)
FY2006(initial)
(b) FY2007(initial)
(c)
(a)
FY2006 (supplementary budget)(b) FY2007(initial)
(c)
(b)−(a)
(c)−(a)
New Financial Resource Bonds
29,973.0
27,470.0
▼ 2,503.0
25,432.0
▼ 4,541.0
Construction Bonds
5,484.0
6,415.0
931.0
5,231.0
▼ 253.0
Special Deficit-financing Bonds
24,489.0
21,055.0
▼3,434.0
20.201.0
▼ 4,288.0
Refunding Bonds
108,262.1
108,185.5
▼ 76.6
99,806.0
▼ 8,456.1
Fiscal Loan Bonds
27,200.0
27,200.0
−
18,600.0
▼ 8,600.0
Public Offering
12,000.0
12,000.0
−
11,000.0
▼ 1,000.0
Transitional Measures
15,200.0
15,200.0
−
7,600.0
▼ 7,600.0
Total
165,435.1 162,855.5 ▼ 2,579.6 143,838.0 ▼ 21,597.1<Breakdown by Financing Methods> (billion yen)
FY2006(initial)
(b) FY2007(initial)
(a)
FY2006(supplementary budget)(b) FY2007(initial)
(c)
(b)−(a)
(c)−(a)
JGB Market Issuance (Calendar Base)
118,000.0
113,000.0
▼ 5,000.0
109,600.0
▼ 8,400.0
Non-price Competitive Auction II
2,658.0
3,358.0
700.0
2,586.0
▼ 72.0
Adjustment by Depleting Front-loaded Issuance
5,519.7
5,240.1
▼ 279.6 6,246.0 726.3Subtotal Financed in the Market
126,177.7
121,598.1
▼ 4,579.6
118,432.0
▼ 7,745.7
JGB for Individual Investors
5,300.0 7,300.0 2,000.0 6,330.0 1,030.0OTC Sales, etc
2,200.0 2,200.0 − 1,820.0 ▼ 380.0 Subtotal for Households
7,500.0
9,500.0
2,000.0
8,150.0
650.0
Bank of Japan
16,557.4 16,557.4 − 9,656.0 ▼ 6,901.4Fiscal Loan Bonds
15,200.0 15,200.0 − 7,600.0 ▼ 7,600.0 (Postal Savings)
(11,000.0)
(11,000.0)
(−)
(5,500.0)
(▼ 5,500.0)
(Pension Reserves)
(3,200.0)
(3,200.0)
(−)
(1,600.0)
(▼ 1,600.0)
(Postal Life Insurance)
(1,000.0)
(1,000.0)
(−)
(500.0)
(▼ 500.0)
Subtotal for Public Sector
31,757.4
31,757.4
−
17,256.0
▼ 14,501.4
Total
165,435.1
162,855.5
▼ 2,579.6
143,838.0
▼ 21,597.1
・ 40-year ultra-long JGBs and other new maturity bonds may be issued on market demands with terms that the MOF considers fair.
・ The amount of buy-back in FY2007 is \1.8 trillion.
・ The limit of interest-rate swap transactions in FY2007 is \1.8 trillion (on notional principal basis).
・ The limit of front-loaded issuance in FY2007 is \20 trillion.
Note1
Figures may not sum up to the total because of rounding.
Note2
JGB Market Issuance (Calendar Base) refers to JGBs issued by scheduled auctions from April to next March.
Note3
"Non-price Competitive Auction II"is estimated at 3% of the primary auction.
Note4
From FY2007, the amount of "OTC Sales, etc" is recategorized from "Public Sector" to "Households".