Holdings of Japanese central and local government debt at Japan Post Bank fell by 5% in the six months ending 31 September 2016 to reach 93,338.1 billion yen, accounting for 45.9% of the bank’s portfolio according to its just-released report.
The chief beneficiary was an increased allocation to foreign investment trusts which rose from 12.4% of investments to 13.9% valued at 28,409bn yen.
Only about a third of the Bank’s Japanese Government Bond holdings are shown in its report as ‘available-for-sale-securities’ [see lower table], implying that the other twothirds are held to maturity.
Like its sister institution Japan Post Insurance [see posting above], the Bank is no longer accumulating JBGs but buying other assets with the proceeds of those which mature.
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