This document details the schedule update for the quarterly plan (July-September 2025) for long-term government bond purchases using the yield/price bidding method, published by the Bank of Japan's Financial Markets Department on August 29, 2025.
Offer Amounts by Remaining Maturity
Short-term Zone (1 year or less): Offer amount of 100 billion yen per operation and monthly offer amount of 100 billion yen, conducted once each in July 2nd, August 6th, and September 3rd.
Short-Medium Term Zone (1-3 years): 325 billion yen per operation and monthly amount of 975 billion yen, conducted three times per month. July operations are scheduled for the 2nd, 11th, and 18th; August operations for the 6th, 14th, and 20th; September operations for the 3rd, 11th, and 24th.
Medium-term Zone (3-5 years): Also 325 billion yen per operation and monthly amount of 975 billion yen. July operations are scheduled for the 2nd, 11th, and 18th; August operations for the 6th, 20th, and 27th; September operations for the 3rd, 24th, and 29th.
Long-term Zone (5-10 years): The largest offer amount at 350 billion yen per operation and monthly amount of 1,050 billion yen, conducted three times per month. July operations are scheduled for the 11th, 18th, and 28th; August operations for the 14th, 20th, and 27th; September operations for the 11th, 24th, and 29th.
Super Long-term Government Bond Purchases
Super Long-term Zone (10-25 years): 135 billion yen per operation and monthly amount of 405 billion yen, conducted three times per month. July operations are scheduled for the 2nd, 18th, and 28th; August operations for the 6th, 14th, and 27th; September operations for the 3rd, 11th, and 24th.
25+ Year Zone: 75 billion yen per operation and monthly amount of 150 billion yen, conducted twice per month. July operations are scheduled for the 11th and 28th; August operations for the 14th and 27th; September operations for the 11th and 29th.
Inflation-Indexed Bond Purchases
Inflation-indexed bonds are purchased at 50 billion yen per operation and monthly amount of 50 billion yen, conducted once per month. Operations are scheduled for July 28th, August 27th, and September 29th.
Operational Notes
Offer amounts serve as guidelines, and actual offer amounts must be confirmed through offer notifications. The number of operations may be adjusted as needed based on market conditions, and offer amounts for operations on dates not listed above may differ from the stated amounts. As a general rule, no offers will be made on Ministry of Finance auction days (including liquidity supply auctions) for interest-bearing government bonds with overlapping remaining maturities to the purchase target issues.
The report shows that the Bank of Japan plans to systematically implement long-term government bond purchases totaling approximately 3.705 trillion yen per month, supporting stable long-term interest rate formation through appropriate liquidity supply according to each remaining maturity segment.