Monetary Base and Bank of Japan Transactions (September)
Overview
The Bank of Japan Research and Statistics Department’s monthly statistics, “Monetary Base and Bank of Japan Transactions (September 2026),” present a stock table of month-end balances and a flow table of changes during each month for July–September 2026. At the end of September, the monetary base was 5,354,214 hundred million yen, down 83,438 hundred million yen from the end of August. The breakdown was current account balances at the Bank of Japan, 4,165,953 hundred million yen; banknotes in circulation, 1,142,474 hundred million yen; and coins in circulation, 45,787 hundred million yen. In the September flow table, long-term Japanese government bonds decreased by 159,197 hundred million yen; purchases were 23,172 hundred million yen; and redemptions and other items decreased by 182,369 hundred million yen. The net sale of treasury discount bills to the government decreased by 980 hundred million yen. Flow figures not shown in the table can be calculated from the month-on-month differences in the stock table, and figure definitions are provided in the notes.
Key points
- The source is the Bank of Japan Research and Statistics Department’s “Monetary Base and Bank of Japan Transactions (September 2026).”
- The monetary base at the end of September was 5,354,214 hundred million yen.
- September flows for long-term Japanese government bonds were a decrease of 159,197 hundred million yen, purchases of 23,172 hundred million yen, and a decrease of 182,369 hundred million yen in redemptions and other items.
- Figures not shown in the flow table can be calculated from the month-on-month differences in the stock table.
Overview
The Bank of Japan Research and Statistics Department’s “Monetary Base and Bank of Japan Transactions (September 2026)” is a monthly statistical publication presenting the monetary base and Bank of Japan transactions in stock and flow tables. The stock table shows month-end balances, while the flow table shows increases and decreases during each month, in hundred million yen. Both tables cover July, August, and September 2026, and each item name is accompanied by an alphabetical code.
The document presents “1. Stock Table,” “1. Stock Table (continued),” and “2. Flow Table,” in that order. The stock table lists long-term Japanese government bonds, treasury discount bills, various operations, loans and other items, government deposits, other items, and the monetary base and its breakdown. The flow table shows monthly changes in long-term Japanese government bonds and treasury discount bills; the notes provide figure definitions and the references for the codes.
Details
The breakdown of the monetary base at the end of September was current account balances at the Bank of Japan, 4,165,953 hundred million yen; banknotes in circulation, 1,142,474 hundred million yen; and coins in circulation, 45,787 hundred million yen. The total decreased by 83,438 hundred million yen from 5,437,652 hundred million yen at the end of August. Reserve balances were 3,849,859 hundred million yen, government deposits were -427,919 hundred million yen, and other items were -52,367 hundred million yen.
Monthly flows for long-term Japanese government bonds were 10,395 hundred million yen in July, 5,458 hundred million yen in August, and -159,197 hundred million yen in September. Purchases were 23,386 hundred million yen, 23,212 hundred million yen, and 23,172 hundred million yen, respectively; redemptions and other items were -12,991 hundred million yen, -17,754 hundred million yen, and -182,369 hundred million yen. September flows for treasury discount bills were 0 hundred million yen for underwriting, purchases, sales, and redemptions and other items; net sales to the government were -980 hundred million yen.
The stock table includes items such as purchases of long-term Japanese government bonds and other transactions and government sale and repurchase agreements; treasury discount bills; outright purchases and sales of Japanese government bonds under repurchase agreements; the complementary collateralized lending facility; CP purchases under repurchase agreements; bill sales; the disaster-area financial institutions support operation; the climate change response operation; the Loan Support Program; corporate bonds and other items; ETFs and J-REITs held in trust assets; loans and other items; and the supplementary lending of Japanese government bonds.
Other flow figures can be calculated from the month-on-month differences in the stock table. The alphabetical codes for each item correspond to the codes in “(1) Stock Table (month-end), 4.” or “(2) Flow Table (during the month), 2.” in the notes.