Official Result (MOF)
| Auction Date | 1996-04-09 |
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| Issue Date | 1996-04-22 |
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| Issue | JGB (20-Year) No. 33（new） |
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| Coupon (%) | 3.8% |
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| Maturity | 2016-09-20 |
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| Method | price conventional |
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| Offering | ¥400B |
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| Competitive Bids | ¥944.7B |
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| Accepted Amount | ¥398.3B |
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| Lowest Accepted Price | 98.60（3.923%） |
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| Weighted Avg Price | 98.83（3.902%） |
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| Allotment Ratio | — |
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| Non-competitive I | — |
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| Non-competitive II | — |
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Source: https://www.mof.go.jp/jgbs/reference/appendix/jgb_historical_data.xls
Derived Metrics calc auction-v1 / auction-v2
| This | Prev | avg (12) | min | max | z |
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| Bid/Cover | 2.37 | 2.89 | 2.81 | 2.02 | 3.57 | -1.00 |
| Tail (sen) | 23 | 12 | 13 | 6 | 23 | +1.85 |
| Non-competitive take-up | 0.0% | 0.0% | |
| Grade | E (score -1.43) | (z(B/C) − z(tail))/2 bucketed A(≥1)/B(≥0.3)/C/D(≤−0.3)/E(≤−1), vs last 12 same-tenor |
| Yield tail (bp) | 2.1 | 1.2 |
Same-tenor Auction History