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Bidding Limitation and Bidding Responsibility in Auctions for Issuance in and after April 2015

January 14, 2015

Ministry of Finance

Bidding Limitation and Bidding Responsibility in Auctions for Issuance in and after April 2015


1) Bidding Limitation  

  • In every auction (except Non-competitive Auction, Non-Price Competitive Auction I for JGB Market Special Participants and Non-Price Competitive Auction II for JGB Market Special Participants) for JGBs (including Treasury Discount Bills) in and after April 2015, the maximum amount of bidding by each auction participant will be set at one-half of the planned issuance amount.

 

2) Bidding Responsibility  

  • In every auction (except Non-Price Competitive Auction II for JGB Market Special Participants) for JGBs (including Treasury Discount Bills) in and after April 2015, JGB Market Special Participants shall assume responsibility to bid for an adequate amount equal to 4% or more of the planned issuance amount at reasonable prices.
    【Note】As a result, the public notice providing the standards of JGB Market Special Participants and “Principal Terms and Conditions for JGB Market Special Participants Scheme (July 9, 2004)” are to be revised.

 

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