Quarterly Schedule Update: Long-Term JGB Yield/Price Purchases, Jul–Sep 2026
Overview
The Bank of Japan’s Financial Markets Department updated the per-operation and monthly offer amounts by remaining maturity for interest-bearing government bonds, as well as the amounts and dates for inflation-indexed bonds, for long-term government bond purchases from July to September 2026. The total monthly offer amount is 2.5 trillion yen. The amounts are indicative, and the number of operations may be changed depending on market conditions and other factors. The schedule for October to December 2026 is scheduled to be published at 5:00 p.m. on September 30, 2026.
Key points
- The quarterly schedule for long-term government bond purchases from July to September 2026 was updated.
- Per-operation and monthly offer amounts are set by remaining maturity for interest-bearing government bonds.
- The total monthly offer amount is 2.5 trillion yen.
- The number of operations may be changed depending on market conditions, and the actual amounts should be confirmed through offer announcements and other sources.
Overview
The Bank of Japan’s Financial Markets Department published the “Quarterly Schedule for Long-Term Government Bond Purchases (Yield and Price Competitive Auction Method) (July–September 2026) [Schedule Update].”
For interest-bearing government bonds, the schedule shows purchase amounts by remaining maturity and offer dates from July to September; for inflation-indexed bonds, it separately shows purchase amounts and dates.
Details
The per-operation amounts, in order of the remaining maturity of interest-bearing government bonds, are 100 billion yen, 355 billion yen, 320 billion yen, 335 billion yen, 100 billion yen, and 75 billion yen; the amount for inflation-indexed bonds is 30 billion yen. The monthly amounts are 100 billion yen, 710 billion yen, 640 billion yen, 670 billion yen, 200 billion yen, and 150 billion yen for interest-bearing government bonds, and 30 billion yen for inflation-indexed bonds.
The dates are July 6, August 5, and September 2 for maturities of up to 1 year; July 15 and 23, August 5 and 19, and September 9 and 28 for maturities over 1 year and up to 3 years; and July 15 and 29, August 13 and 27, and September 2 and 16 for maturities over 3 years and up to 5 years.
For maturities over 5 years and up to 10 years, the dates are July 6 and 23, August 13 and 19, and September 9 and 16. For maturities over 10 years and up to 25 years, they are July 6 and 23, August 5 and 27, and September 2 and 28. For maturities over 25 years, they are July 15 and 29, August 13 and 19, and September 9 and 16. For inflation-indexed bonds, the dates are July 29, August 27, and September 28. The amounts are indicative, the number of operations may be changed as necessary, and offers will generally not be made on auction dates for the Ministry of Finance Japan’s interest-bearing government bonds, including liquidity-providing auctions, when the remaining maturities of the bonds eligible for purchase overlap.