English
日本語English中文ItalianoFrançaisDeutschEspañol
Sign in Admissions
NOMISMA SCHOLA
Read the textbooks TextbooksRoutesColumnFilms & narration
Go deeper by course Courses
Verify with the coins CoinsGlossarySourcesPractice
Think with the patterns Patterns
About the school Start hereFacultyContactThe discipline
Admissions Sign in
Language
日本語English中文ItalianoFrançaisDeutschEspañol
SOURCE ROOM

What is the uncollateralized overnight call rate? What is a funds surplus/shortage?

Bank of Japan (Tell me! Nichigin)

Claims Supported by This Source

  1. Uncollateralized overnight call rate = The interest rate for uncollateralized, next-business-day repayment lending in the call market. The main operating target since the 1990s.
  2. Total amount of funds in the money market = The total balance of financial institutions' current accounts at the Bank of Japan. It does not change with interbank transactions but fluctuates due to factors related to banknotes and fiscal matters.
  3. When excess reserves are high, guidance is provided through arbitrage activities by applying interest to excess reserves under the Complementary Deposit Facility, introduced in 2008.

How to read the verification levels. "Read Through" means the source was read in its entirety. "Bibliography & Abstract Read" means the bibliographic information and abstract were confirmed. "Via Course Material" means the source was referenced through the textbook or course text. The "Text Hash" is the SHA-256 of the main text from the publisher's page, excluding tags and whitespace, used to detect if the source has been modified.