The Ministry of Finance announced the implementation of the 436th Liquidity Supply Auction on August 26, 2025. The planned total issuance is approximately 350 billion yen in face value, with issuance on August 27. Target bonds include 20-year JGBs (176th to 192nd issues), 30-year JGBs (34th to 86th issues), and 40-year JGBs (1st to 17th issues). The auction method is yield spread bidding (0.001% increments), with benchmark yields based on the average values from the Japan Securities Dealers Association's OTC bond trading reference statistics. Minimum bid amount is 100 million yen or multiples thereof, using the conventional method for allocation. This liquidity supply auction enhances market liquidity by additional issuance of outstanding JGBs.
Liquidity Supply Auction (436th)
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