BANK OF JAPAN TO SELL 800 BILLION YEN IN BILLS
The Bank of Japan will sell 800 billion yen
in bills from its holdings on Tuesday to help absorb a
projected money market surplus of 470 billion yen and recycle
400 billion in bills maturing then, money market traders said.
    Of the total, 400 billion yen will yield 3.8512 pct on
sales from money houses to banks and securities houses through
29-day repurchase agreements maturing on November 17. These are
aimed at meeting a projected cash shortage on that day, when
the government floats 1.95 mln shares in Nippon Telegraph and
Telephone Corp. The other 400 billion will yield 3.9006 pct
through 44-day repurchase accords maturing on December 2.
    The operation will bring the supply of bills outstanding to
about 3,200 billion yen.
 REUTER
