Bank of Japan FSB Repo Statistics June 2025

Bank of Japan's latest announcement reveals that the June 2025 FSB repo statistics for Japan were released on July 22, 2025. The FSB repo statistics are monthly statistics that compile repo transaction trends of financial institutions located in Japan, based on international standards recommended by the Financial Stability Board (FSB) in November 2015. The statistics cover approximately 50 major financial institutions in Japan, including branches of foreign financial institutions, selected based on their repo transaction volumes. Repo transactions include repurchase agreements (repo transactions with bonds as collateral for funding) and securities lending transactions (with cash or substitute securities as collateral). Repurchase agreements include transactions based on standard contracts such as MRA and GMRA, while securities lending transactions aggregate those based on MSLA, GMSLA, and similar agreements. The statistics distinguish between Japanese yen-denominated and foreign currency-denominated transactions, with securities categorized in detail as Japanese government bonds, local government bonds, government-guaranteed bonds, foreign bonds, and Japanese equities. Maturity classifications include six categories: overnight, 2 days to 1 week, over 1 week to 1 month, over 1 month to 3 months, over 3 months, and open-ended, providing detailed insights into short-term money market term structures. Counterparties are classified by jurisdiction (domestic residents, United States, Europe, and others) and further categorized by business type (banks, securities companies/tanshi companies as dealers/brokers, and other entities such as insurance companies, securities finance companies, and investment trusts). The statistics also distinguish between GC repo transactions (general collateral, primarily for funding purposes) and SC repo transactions (specific collateral, primarily for securities borrowing), as well as between CCP-cleared transactions using clearing houses and non-CCP bilateral transactions. Publication began with December 2018 data, prepared by the Financial Markets Department and released in PDF and Excel formats on the 15th business day of the following month. Flow data reports daily new transactions, while stock data reports month-end balances. The June statistics confirmed that yen-denominated repo transactions collateralized by Japanese government bonds continue to dominate the market, with stable funding and investment by financial institutions. Repo rates are weighted by transaction amounts, reflecting market funding supply and demand conditions. The Bank of Japan maintains its commitment to enhancing repo market transparency through these statistics, contributing to financial system stability, advancing financial institutions' risk management, and supporting international financial regulatory monitoring.