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Bank of Japan

The Bank of Japan (BOJ) also known as Nippon Ginko, is the central bank of Japan. The Bank is often called Nichigin for short. It has its headquarters in Chuo, Tokyo.

Articles by Bank of Japan

Bank of Japan Accounts (October 20)

6 days ago

October 22, 2021
Bank of Japan

Assets
(thousand yen)

Gold
441,253,409
Cash1
264,258,401
Japanese government securities
526,580,577,577
Commercial paper2
3,274,016,428
Corporate bonds3
8,054,675,036
Pecuniary trusts (stocks held as trust property)4
493,436,893
Pecuniary trusts (index-linked exchange-traded funds held as trust property)5
36,208,460,188
Pecuniary trusts (Japan real estate investment trusts held as trust property)6
654,807,725
Loans (excluding those to the Deposit Insurance Corporation)
138,257,867,000
Foreign currency assets7
7,591,560,747
Deposits with agents8
5,638,835
Others
712,155,450
Total
722,538,707,694

Liabilities and Net Assets
(thousand yen)
Banknotes
116,759,398,441
Current deposits

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Financial System Report (Oct. 2021)

7 days ago

October 21, 2021
Bank of Japan
Highlights [PDF 181KB]
Summary [PDF 1,342KB]
Full text [PDF 2,283KB]
"Highlights" provides a brief summary of key analyses in the October 2021 issue of the Report.
Motivations behind the October 2021 issue of the Report
The October 2021 Report provides a detailed analysis of the following major risks: domestic credit risk as well as risks associated with securities investment and foreign currency funding, and then uses a stress testing framework to examine the robustness of Japan’s financial system. On the domestic credit risk stemming from the spread of COVID-19, this Report presents a simulation of financial soundness of small and medium-sized enterprises (SMEs) while taking details of the degree of

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Twenty-seventh Meeting of the Cross-Industry Committee on Japanese Yen Interest Rate Benchmarks (by written resolution)

10 days ago

October 18, 2021
Financial Markets Department
Bank of Japan
The twenty-seventh meeting of the Cross-Industry Committee on Japanese Yen Interest Rate Benchmarks was held on October 18, 2021 (by written resolution).
The agenda of the meeting and meeting items are available on the "Cross-Industry Committee on Japanese Yen Interest Rate Benchmarks" page of the Bank of Japan’s website. The meeting minutes of the twenty-seventh meeting will be released on the same page.
Inquiries
Market Infrastructure Division, Financial Markets Department
E-mail : [email protected]

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(Research Paper) Extracting Firms’ Short-Term Inflation Expectations from the Economy Watchers Survey Using Text Analysis

13 days ago

October 15, 2021
Jouchi Nakajima*1
Hiroaki Yamagata*2
Tatsushi Okuda*3
Shinnosuke Katsuki*4
Takeshi Shinohara*5
Full Text [PDF 392KB]
Abstract
This paper discusses the Price Sentiment Index (PSI), a quantitative indicator of firms’ outlook for general prices proposed by Otaka and Kan (2018). The PSI is developed from the textual data of the Economy Watchers Survey conducted by the Cabinet Office; it is computed by extracting firms’ views from survey comments, using text analysis. In this paper, we revisit the PSI and quantitatively analyze the determinants of changes in the PSI and the relationship between the PSI and macroeconomic variables. We also address a shortcoming in the text analysis used for computing the PSI that we discover when

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Issuance Date for the New 500 Yen Coin

13 days ago

October 15, 2021
Bank of Japan
On October 1, 2021, the Bank of Japan announced that it had decided that the issuance date for the new 500 yen coin will be November 1, 2021. The Bank will start distributing the coins to financial institutions from that date.
The current 500 yen coins will remain valid even after the issuance of the new 500 yen coins.
For the time being, some of the current 500 yen coins collected will be recirculated, according to the demand for 500 yen coins in the market, to ensure smooth distribution.

(References)
Issuance Schedule for the New 500 Yen Coin
Notice regarding the Issuance Schedule for the New 500 Yen Coin
Introduction of a New Series of Bank of Japan Notes and a New 500 Yen Coin [PDF 786KB]
New 500 Yen Coin

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(BOJ Review) Foreign Currency Funding of Major Japanese Banks

15 days ago

October 13, 2021
AOKI Ryo, ANTOKU Kunimasa, FUKUSHIMA Shunsuke, YAGI Tomoyuki*, WATANABE Shinichiro
Financial System and Bank Examination Department
Currently at the Research and Statistics Department
Full Text [PDF 613KB]
Most of the major Japanese banks have endeavored to stabilize their foreign currency funding by increasing long term market-based funding and corporate deposits while expanding their overseas lending. In March 2020, when tensions in the international financial and capital markets increased due to the spread of Covid-19, USD lending surged due to the drawdown of commitment lines and other factors. The efforts of individual banks to stabilize their USD funding, as well as the effectiveness of USD funds-supplying by the six major

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Bank of Japan Accounts (October 10)

16 days ago

October 12, 2021
Bank of Japan

Assets
(thousand yen)

Gold
441,253,409
Cash1
264,857,792
Japanese government securities
529,057,698,070
Commercial paper2
3,011,714,707
Corporate bonds3
7,946,772,089
Pecuniary trusts (stocks held as trust property)4
501,317,991
Pecuniary trusts (index-linked exchange-traded funds held as trust property)5
36,205,081,390
Pecuniary trusts (Japan real estate investment trusts held as trust property)6
654,817,146
Loans (excluding those to the Deposit Insurance Corporation)
138,417,867,000
Foreign currency assets7
7,545,073,203
Deposits with agents8
8,721,847
Others
705,066,659
Total
724,760,241,306

Liabilities and Net Assets
(thousand yen)
Banknotes
116,646,635,235
Current deposits

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87th Opinion Survey

17 days ago

October 11, 2021
Public Relations Department Bank of Japan

Full Text [PDF 1,078KB]
Survey Outline
Survey period : From August 6 to September 1, 2021.
Population of the Survey : Individuals living in Japan who are at least 20 years of age.
Sample size : 4,000 people (2,209 people [i.e., 55.2 percent of the overall sample size] provided valid responses to questions).
Sampling method : Stratified two-stage random sampling method.
Survey methodology : Questionnaire survey (mail survey method).

Impression of Present Economic Conditions Compared with One Year AgoPercent, percentage points

84th survey(Dec 2020)
85th survey(Mar 2021)
86th survey(Jun 2021)
87th survey(Sep 2021)
Have improved (A)
1.1
1.0
2.2
2.5
Have remained the same
27.2
27.6
33.4

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Regional Economic Report (Summary) (Oct. 2021)

21 days ago

This report summarizes the reports from all regional research divisions, mainly at the Bank’s branches in Japan, and is based on data and other information gathered for the meeting of general managers of the Bank’s branches held today. The English translation is based on the Japanese original.
October 7, 2021 Bank of Japan
Full Text [PDF 276KB]
I. Regional Economic Assessments (Overview)
According to assessments from regions across Japan, although some reported that their economy had seen a pause in signs of a pick-up due to the effects of the spread of the novel coronavirus (COVID-19) during this summer and of production cutbacks in some sectors following supply-side constraints, many maintained their assessment that it had been picking up.

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Bank of Japan Accounts (September 30)

21 days ago

October 7, 2021
Bank of Japan

Assets
(thousand yen)

Gold
441,253,409
Cash3
264,924,651
Japanese government securities
528,029,572,505
Commercial paper4
3,056,491,252
Corporate bonds5
7,939,214,322
Pecuniary trusts (stocks held as trust property)6
504,124,863
Pecuniary trusts (index-linked exchange-traded funds held as trust property)7
36,205,081,390
Pecuniary trusts (Japan real estate investment trusts held as trust property)8
654,817,146
Loans (excluding those to the Deposit Insurance Corporation)
138,417,867,000
Foreign currency assets9
7,505,298,041
Deposits with agents10
5,826,148
Others
705,580,837
Total
723,730,051,570

Liabilities and Net Assets
(thousand yen)
Banknotes
116,787,511,741
Current deposits

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