Skip to main content

Principal Terms and Conditions concerning the Operation of Securities Custody Accounts (S) for Foreign Central Banks and International Organizations

日本語

March 26, 1999 (April 1, 1999)

Revision:November 14, 2003 (January 19, 2004)
January 23, 2009 (February 4, 2009)
* Date of implementation in brackets

The Bank of Japan (hereinafter the "BOJ") shall provide foreign central banks (including institutions equivalent thereto) and international organizations with Securities Custody Accounts (S). The operational procedures of the Securities Custody Accounts (S) shall be managed under the following terms and conditions (hereinafter these "Principal Terms and Conditions").

1. Counterparties

Counterparties shall be selected from among foreign central banks (including institutions equivalent thereto) and international organizations holding yen accounts (hereinafter the "Yen Account" or the "Yen Accounts" depending on context) with the BOJ.

2. Eligible Securities

The BOJ shall record eligible Japanese government securities (hereinafter the "Eligible JGSs") obtained by the Counterparties in the Securities Custody Accounts (S).

3. Receipt of the Eligible JGSs in the Securities Custody Accounts (S)

The BOJ shall receive the Eligible JGSs that have been delivered to the Counterparties in their relevant Securities Custody Account (S).

4. Principal and Coupon Payments

On behalf of the Counterparties, the BOJ shall receive in the relevant Yen Account of the Counterparties the principal and coupon payments of the Eligible JGSs recorded in their Securities Custody Accounts (S).

5. Delivery of the Eligible JGSs

Upon individual instructions from the Counterparties, the BOJ shall deliver the Eligible JGSs from their Securities Custody Accounts (S) to the specified parties.

6. Service Costs

No commissions shall be charged in relation to the services provided by the BOJ under these Principal Terms and Conditions.

All out-of-pocket expenses, excluding charges for communications between the Counterparties and the BOJ, shall be debited to the relevant Yen Account of the Counterparties.

7. Termination of the Securities Custody Accounts (S)

Both the Counterparties and the BOJ shall be entitled to terminate their agreements concerning the Securities Custody Accounts (S) at any time, upon giving notice to such effect.

8. Governing Law

These Principal Terms and Conditions shall be governed by and construed in accordance with the laws of Japan.