Debt Management Report 2020

The objective of the “Debt Management Report,” which has been published since 2004, is to provide readers across a wide spectrum spanning domestic and foreign markets, government affairs, and research, etc., with the opportunity of gaining a deeper understanding of Japan’s debt management policy. 

This report, though focusing on Japanese Government Bond (JGB) management policy as debt management policy, covers issues involving public debts in general.


【TOC】

Preface

■ 1 About “Debt Management Report”

■ 2 What is Debt Management Policy?

(1)Overview

(2)Framework of “Government Funding Activities”

(3)Debts with Public Characteristics

Column1 JGB Yields

Ⅰ FY2020 Debt Management Policies

■1 Trends of JGB Market in FY2019

(1)Review

(2)Investor Trends

■2 JGB Issuance Plan for FY2020

(1)Announcement of JGB Issuance Plan for FY2020

(2)Overview of Discussions at Various Panels

(3)Scheduled Issuance Amount of JGBs

(4)JGB Issuance Plan Based on Market Trends and Needs

Column2 “Excess Revenue from JGB Issuance at a Price above Par Value” under Negative Interest Rates

Column3 Approach on Average Maturity of JGBs (Flow and Stock Basis)

Column4 Cost-at-Risk Analysis

■3 Revisions to JGB Issuance Plan for FY2020

(1)“Emergency Economic Measures” and Revisions to JGB Issuance Plan for FY2020

etc...