Bank of Japan publishes US dollar funds operations schedule
The Bank of Japan has published the timetable and schedule for its U.S. dollar funds-supplying operations from February to June 2026. The operations will offer unlimited amounts at a fixed rate against pooled collateral.
Operational details for dollar liquidity
The Bank of Japan (BoJ) has released its detailed timetable for U.S. dollar funds-supplying operations, spanning from February to June 2026. These operations are a crucial tool for ensuring stable U.S. dollar liquidity in the Japanese financial system, supporting cross-border transactions and financial market functioning.
The BoJ specifies that these operations will offer an unlimited amount of funds, provided that eligible counterparties offer pooled collateral.
A key feature is the fixed loan rate, which provides certainty for participating institutions.
The schedule meticulously outlines the operational timeline, including the exact times for auction announcements, bid submission cut-offs, and the subsequent publication of results, all denominated in Japan Standard Time (JST).
This transparency aims to facilitate smooth participation by financial market participants.
Weekly auctions and future outlook
The published schedule details a consistent pattern of weekly auctions for the U.S. dollar funds.
Each operation typically has a term of 7 days, though some extend to 8 or 13 days to accommodate market needs.
For example, the first auction in February is offered on February 3, 2026, with funds exercised on February 5, and repayment due on February 13. The timetable covers operations up to the end of June 2026, with the final listed auction on June 30, 2026, concluding on July 9, 2026. The Bank of Japan has also announced that the next schedule, covering operations through September 2026, will be published at the end of April 2026.