BANK OF JAPAN TO SELL 200 BILLION YEN IN BILLS
The Bank of Japan will sell tomorrow 200
billion yen in financing bills through 35-day repurchase
agreements maturing July 24 to help mop up a projected money
market surplus, money traders said.
    The yield on the bills for sale to banks and securities
houses from money houses will be 3.6005 against today's
one-month commercial bill discount rate of 3.5625 pct and
one-month certificate of deposit rate of 3.98/86 pct. Traders
estimate a 300 billion yen surplus due to tax allocations to
local governments and public entities. The operation will put
outstanding bill supplies at about 2,000 billion yen.
 REUTER
