Central Bank Survey of Foreign Exchange and Derivatives Market Activity in April 2022: Turnover Data, Japan
November 2, 2022
Bank of Japan
Financial Markets Department
The Bank of Japan is releasing today the results for a part of the triennial turnover survey for foreign exchange and over-the-counter (OTC) derivatives market activity in Japan, concerning the data on turnover in April 2022.
I. Outline of Survey
In April 2022, the Bank of Japan conducted the triennial turnover survey for foreign exchange and over-the-counter derivatives market activity in Japan. This survey comprises a part of the Triennial Central Bank Survey coordinated by the Bank for International Settlements (BIS). The Bank of Japan obtained data from 37 financial institutions; consisting of 12 Japanese banks, 16 foreign banks, two Japanese securities houses, and seven foreign securities houses.
II. Highlights from the Japanese Turnover Results
(1) Foreign Exchange Market Activity
Average daily turnover of the foreign exchange market in Japan in April 2022 was USD 432.5 billion, increasing by 15.2 percent from the previous survey. By type of instrument, spot transactions increased significantly by 52.4 percent.
(2) OTC Interest Rate Derivatives Market Activity
Average daily turnover of the OTC interest rate derivatives contracts in Japan in April 2022 was USD 50.7 billion, decreasing by 32.1 percent from the previous survey. By type of instrument, turnover of forward rate agreements, interest rate swaps, and interest rate options decreased by 75.6 percent, 30.1 percent, and 55.1 percent, respectively.