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BOJ provides ample funds to Tokyo money market.

TOKYO, March 24 Kyodo

The Bank of Japan (BOJ) provided 1 trillion yen to the Tokyo short-term money market in its regular operation Friday morning, enlarging the calculated fund surplus it leaves in the banking system.

The central bank kept the day's estimated bank reserves in its current account unchanged at 5.4 trillion yen from Thursday by selling discount bills, raising the surplus to 1.8 trillion yen, up 200 billion yen from Thursday.

With the ample fund surplus, the key unsecured overnight call rate held steady at 0.02%, unchanged from Thursday's weighted average.

The BOJ also notified the market that it will provide 1.8 trillion yen worth of funds whose maturity falls later than March 31, in response to vigorous fund demand for the fiscal year-end.

On the Tokyo International Financial Futures Exchange, the key September three-month Euroyen rate futures yielded 0.355%, up 0.02 percentage point from Thursday, on selling for profit-taking before the weekend.

No trading was seen in certificates of deposit on the primary market.
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Publication:Asian Economic News
Date:Mar 27, 2000
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