Debt Management Report 2021

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

Column2 Demand for JGBs with negative yields

Ⅰ FY2021 Debt Management Policies

■1 Trends of JGB Market in FY2020

(1)Review

(2)Investor Trends

■2 JGB Issuance Plan for FY2021

(1)Announcement of JGB Issuance Plan for FY2021

(2)Overview of Discussions at Various Panels

(3)Scheduled Issuance Amount of JGBs

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

Column3 Increases in FY2020 JGB Issuance and Future Outlook

Column4 Front-loading Refunding Bonds to level calendar-base market issuance

■3 Diversification of JGB Investor Base

(1)JGB Holdings by Retail Investors

(2)JGB Holdings by Foreign Investors

Ⅱ Framework of Debt Management

etc...