文章基本信息

标题：Shortening the Settlement Cycle of JGBs to T+1
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作者：Yuriko Watanabe ; Shunsuke Yoshida ; Masato Ui 等
期刊名称：Bank of Japan Review
出版年度：2016
卷号：2016
出版社：Bank of Japan
摘要：In addition, it is expected to enhance the liquidity,stability, efficiency and competitiveness of Japanesefinancial markets through the development ofinfrastructure to shorten the settlement cycle.T+1 outright transactions call for T+0 generalcollateral (GC) repos, since GC repos are often usedto adjust excesses and shortages of cash resulting fromoutright transactions. The WG has agreed on theintroduction of a new transaction scheme to enableT+0 GC repos, and accordingly concluded that newinfrastructure should be established to ensure itsoperational feasibility. At the same time, the WG hasdecided to take this opportunity to proceed withinitiatives to further enhance the function of repomarkets.