Japan MOF Postpones Auction for Short-term Govt Securities

Economy

Tokyo, Jan. 10 (Jiji Press)--Japan's Ministry of Finance on Tuesday postponed an auction of treasury discount bills, or short-term Japanese government securities, initially scheduled for the day.

The postponement came as some functions of the Bank of Japan Financial Network System, which makes settlements of funds and governments securities with financial institutions, became unavailable. The system problem has already been solved. The BOJ is looking into the cause of the problem.

According to the ministry, the auction will be held Wednesday.

The amount to be issued in this auction is about 6 trillion yen on face value, and the maturity date is April 10.

It is the first time since mid-March 2011, following a major earthquake and tsunami in eastern Japan, for an auction of treasury discount bills to be postponed at short notice.

[Copyright The Jiji Press, Ltd.]

Jiji Press