–BOJ offers Y1 trillion same-day funds in afternoon, following Y5 trillion in morning.
–As a result, BOJ’s current account balance is expected to increase to its largest in 5 years
–The move follows Mizuho Bank’s system failure and the dollar’s fall to Y76.25 overnight
(Adds afternoon operations and information on the bank’s current account balance.)
By Megumi Fujikawa
Of DOW JONES NEWSWIRES
TOKYO (Dow Jones)–The Bank of Japan continued aggressive emergency fund provision for a fourth straight day Thursday to calm jitters about the impact of Friday’s massive earthquake and subsequent nuclear power crisis, with its current account balance expanding to its largest in five years.
The BOJ offered Y5 trillion in same-day funds Thursday morning, of which financial firms took up Y1.122 trillion. In the afternoon, the bank announced an additional Y1 trillion, with Y500 billion in bids. Same-day funds effectively make money available immediately to cash-strapped financial companies.
–As a result, BOJ’s current account balance is expected to increase to its largest in 5 years
–The move follows Mizuho Bank’s system failure and the dollar’s fall to Y76.25 overnight
(Adds afternoon operations and information on the bank’s current account balance.)
By Megumi Fujikawa
Of DOW JONES NEWSWIRES
TOKYO (Dow Jones)–The Bank of Japan continued aggressive emergency fund provision for a fourth straight day Thursday to calm jitters about the impact of Friday’s massive earthquake and subsequent nuclear power crisis, with its current account balance expanding to its largest in five years.
The BOJ offered Y5 trillion in same-day funds Thursday morning, of which financial firms took up Y1.122 trillion. In the afternoon, the bank announced an additional Y1 trillion, with Y500 billion in bids. Same-day funds effectively make money available immediately to cash-strapped financial companies.
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