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 October 2023 reserve maintenance period: 69.5%
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 November 2023 reserve maintenance period will be announced on November 9, 2023 at 5 p.m
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