Official Result (MOF)
| Auction Date | 1996-01-11 |
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| Issue Date | 1996-01-25 |
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| Issue | JGB (4-Year) No. 38（new） |
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| Coupon (%) | 1.4% |
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| Maturity | 2000-01-20 |
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| Method | price conventional |
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| Offering | ¥600B |
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| Competitive Bids | ¥1.5T |
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| Accepted Amount | ¥598.6B |
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| Lowest Accepted Price | 100.10（1.373%） |
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| Weighted Avg Price | 100.20（1.345%） |
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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 | 2.50 | 1.93 | 2.47 | 1.06 | 3.57 | +0.03 |
| Tail (sen) | 10 | 13 | 12 | 3 | 46 | -0.17 |
| Non-competitive take-up | 0.0% | 0.0% | |
| Grade | C (score +0.10) | (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) | 2.8 | 3.5 |
Same-tenor Auction History