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Bank of Japan : Review of the Benchmark Ratio Used to Calculate the Macro Add-on Balance in Current Account Balances at the Bank of Japan

January 08, 2021 at 08:04 am

January 8, 2021

Financial Markets Department

Bank of Japan

Review of the Benchmark Ratio Used to Calculate the Macro Add-on

Balance in Current Account Balances at the Bank of Japan

The Bank of Japan decided to review the Benchmark Ratio (Note) used to calculate the Macro Add-on Balance in financial institutions' current account balances at the Bank, to which a zero interest rate is applied, as follows.

Note: The Benchmark Ratio stipulated in Paragraph 4. (3) (a) of the "Principal Terms and Conditions of Complementary Deposit Facility."

During the January 2021 reserve maintenance period: 13.0%

The Policy-Rate Balance in financial institutions' current account balances at the Bank, to which a negative interest rate is applied, will be about 5 trillion yen if arbitrage transactions take place in full among financial institutions.

The Benchmark Ratio during the February 2021 reserve maintenance period will be announced on February 9, 2021 at 5 p.m.

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Bank of Japan published this content on 08 January 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 January 2021 08:03:01 UTC

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Bank of Japan is the central bank of Japan. It aims to finance the perfect national economy development through stabilizing the prices. The Bank also decides and executes the financial policies. The Financial policy operation principles are decided by Policy Meeting and Monetary Policy Meeting, and concretized by the supplying and absorption of money in the market by the daily money market adjustment.

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