BoJ moves to ‘ease stress’ in JGB market
More generous limits applied to securities lending facility
The Bank of Japan (BoJ) has adjusted the terms of its securities lending facility, aiming to "ease stress" in the market for Japanese government securities, it said today (February 10).
A key source of this stress is the BoJ's own programme of quantitative and qualitative easing (QQE). The central bank has nearly ¥300 trillion ($2.6 trillion) in Japanese government bonds (JGBs) on its balance sheet, around a third of total outstanding stock. Purchases are continuing at a rate of ¥80 trillion a
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