recent20262025202420232022202120202019201820172016 and earlier
Series
| Series | Auctions | Period | Total issued | Latest | Highest yield | Note |
|---|
| Treasury Discount Bills TDB | 1,397 | 2009-02-04 〜 2026-07-30 | ¥6,171.9T | 2026-07-30 | 1.011 | TB and FB unified in 2009 |
| Financing Bills (FB) FB | 565 | 1999-04-07 〜 2009-01-28 | ¥2,061.8T | 2009-01-28 | 0.299 | Moved to public auction in FY1999 |
| Treasury Bills (TB) TB | 443 | 1986-02-13 〜 2009-01-15 | ¥661.8T | 2009-01-15 | 0.234 | Merged into TDB |
Latest by tenor
| Tenor | Auction | No. | Highest yield | Avg yield | B/C |
|---|
| 2M | 2015-04-13 | 525 | 0.026 | 0.016 | 3.26 |
| 3M | 2026-07-30 | 1397 | 1.011 | 1.004 | 3.07 |
| 6M | 2026-07-08 | 1392 | 1.022 | 1.012 | 3.63 |
| 1Y | 2026-07-16 | 1394 | 1.217 | 1.207 | 4.01 |
Issuance by year
| Year | Auctions | Issued |
|---|
| 2026 | 45 | ¥184.4T |
| 2025 | 75 | ¥304.5T |
| 2024 | 74 | ¥343.1T |
| 2023 | 75 | ¥395.3T |
| 2022 | 81 | ¥390.1T |
| 2021 | 86 | ¥411.4T |
| 2020 | 83 | ¥439.3T |
| 2019 | 74 | ¥266T |
| 2018 | 75 | ¥274.3T |
| 2017 | 75 | ¥285.3T |
| 2016 | 75 | ¥296.7T |
| 2015 | 77 | ¥346.6T |
3M highest accepted yield
1989-09-05–2026-07-30, 1,500 auctions, TB/FB/TDB series spliced.
Recent auctions latest 40 of 2,405 — see year pages
| Auction | Series | No. | Tenor | Issue | Maturity | Bids | Accepted | B/C | Low price | High yield | Avg yield | Allot. |
|---|
| 2026-07-30 | TDB | 1397 | 3M | 2026-08-03 | 2026-11-02 | ¥8.9T | ¥2.9T | 3.07 | 99.75 | 1.011 | 1.004 | 41.46% |
| 2026-07-24 | TDB | 1396 | 3M | 2026-07-27 | 2026-10-26 | ¥7.4T | ¥3T | 2.48 | 99.75 | 1.009 | 0.991 | 18.81% |
| 2026-07-17 | TDB | 1395 | 3M | 2026-07-21 | 2026-10-19 | ¥11.6T | ¥2.9T | 3.99 | 99.76 | 0.970 | 0.962 | 30.31% |
| 2026-07-16 | TDB | 1394 | 1Y | 2026-07-21 | 2027-07-20 | ¥8.6T | ¥2.1T | 4.01 | 98.80 | 1.217 | 1.207 | 73.88% |
| 2026-07-10 | TDB | 1393 | 3M | 2026-07-13 | 2026-10-13 | ¥8.7T | ¥2.9T | 2.98 | 99.76 | 0.954 | 0.939 | 90.12% |
| 2026-07-08 | TDB | 1392 | 6M | 2026-07-10 | 2027-01-12 | ¥9.8T | ¥2.7T | 3.63 | 99.48 | 1.022 | 1.012 | 77.15% |
| 2026-07-03 | TDB | 1391 | 3M | 2026-07-06 | 2026-10-05 | ¥9.8T | ¥2.9T | 3.35 | 99.77 | 0.931 | 0.913 | 29.95% |
| 2026-06-26 | TDB | 1390 | 3M | 2026-06-29 | 2026-09-28 | ¥9.3T | ¥3.1T | 2.96 | 99.77 | 0.925 | 0.911 | 79.36% |
| 2026-06-19 | TDB | 1389 | 3M | 2026-06-22 | 2026-09-24 | ¥9.6T | ¥3.2T | 3.06 | 99.76 | 0.922 | 0.911 | 79.24% |
| 2026-06-18 | TDB | 1388 | 1Y | 2026-06-22 | 2027-06-21 | ¥7.2T | ¥2.1T | 3.36 | 98.85 | 1.165 | 1.158 | 57.47% |
| 2026-06-12 | TDB | 1387 | 3M | 2026-06-15 | 2026-09-14 | ¥11.2T | ¥3.1T | 3.59 | 99.77 | 0.939 | 0.929 | 76.12% |
| 2026-06-09 | TDB | 1386 | 6M | 2026-06-10 | 2026-12-10 | ¥10.8T | ¥2.7T | 4.06 | 99.51 | 0.990 | 0.982 | 78.18% |
| 2026-06-05 | TDB | 1385 | 3M | 2026-06-08 | 2026-09-07 | ¥11T | ¥3.1T | 3.51 | 99.77 | 0.933 | 0.924 | 45.38% |
| 2026-05-29 | TDB | 1384 | 3M | 2026-06-01 | 2026-08-31 | ¥10.3T | ¥3.4T | 3.08 | 99.78 | 0.896 | 0.883 | 83.47% |
| 2026-05-22 | TDB | 1383 | 3M | 2026-05-25 | 2026-08-24 | ¥14.3T | ¥3.4T | 4.24 | 99.78 | 0.890 | 0.884 | 38.93% |
| 2026-05-19 | TDB | 1382 | 1Y | 2026-05-20 | 2027-05-20 | ¥8.8T | ¥2.3T | 3.82 | 98.87 | 1.143 | 1.136 | 21.13% |
| 2026-05-15 | TDB | 1381 | 3M | 2026-05-18 | 2026-08-17 | ¥12.8T | ¥3.4T | 3.77 | 99.78 | 0.880 | 0.871 | 40.50% |
| 2026-05-08 | TDB | 1380 | 3M | 2026-05-11 | 2026-08-10 | ¥11.2T | ¥3.4T | 3.28 | 99.79 | 0.850 | 0.842 | 28.49% |
| 2026-05-07 | TDB | 1379 | 6M | 2026-05-11 | 2026-11-10 | ¥8.6T | ¥2.9T | 2.92 | 99.54 | 0.930 | 0.920 | 76.37% |
| 2026-05-01 | TDB | 1378 | 3M | 2026-05-07 | 2026-08-03 | ¥12.1T | ¥3.5T | 3.46 | 99.80 | 0.837 | 0.832 | 81.65% |
| 2026-04-24 | TDB | 1377 | 3M | 2026-04-27 | 2026-07-27 | ¥9.5T | ¥3.5T | 2.70 | 99.80 | 0.794 | 0.775 | 2.61% |
| 2026-04-17 | TDB | 1376 | 3M | 2026-04-20 | 2026-07-21 | ¥12.3T | ¥3.6T | 3.42 | 99.79 | 0.825 | 0.819 | 41.77% |
| 2026-04-16 | TDB | 1375 | 1Y | 2026-04-20 | 2027-04-20 | ¥9.6T | ¥2.3T | 4.12 | 98.90 | 1.110 | 1.107 | 70.20% |
| 2026-04-10 | TDB | 1374 | 3M | 2026-04-13 | 2026-07-13 | ¥11.8T | ¥3.6T | 3.31 | 99.78 | 0.882 | 0.871 | 62.53% |
| 2026-04-09 | TDB | 1373 | 6M | 2026-04-10 | 2026-10-13 | ¥10.2T | ¥3T | 3.41 | 99.52 | 0.952 | 0.946 | 85.44% |
| 2026-04-03 | TDB | 1372 | 3M | 2026-04-06 | 2026-07-06 | ¥14.3T | ¥3.6T | 3.98 | 99.78 | 0.882 | 0.874 | 91.97% |
| 2026-03-27 | TDB | 1371 | 3M | 2026-03-30 | 2026-06-29 | ¥10.4T | ¥3.7T | 2.80 | 99.79 | 0.856 | 0.842 | 75.58% |
| 2026-03-18 | TDB | 1370 | 3M | 2026-03-23 | 2026-06-22 | ¥10.1T | ¥3.7T | 2.75 | 99.80 | 0.820 | 0.807 | 63.00% |
| 2026-03-17 | TDB | 1369 | 1Y | 2026-03-23 | 2027-03-23 | ¥8.1T | ¥2.4T | 3.35 | 98.95 | 1.064 | 1.055 | 43.85% |
| 2026-03-13 | TDB | 1368 | 3M | 2026-03-16 | 2026-06-15 | ¥10.2T | ¥3.6T | 2.84 | 99.81 | 0.780 | 0.774 | 96.22% |
| 2026-03-09 | TDB | 1367 | 6M | 2026-03-10 | 2026-09-10 | ¥8.4T | ¥3T | 2.81 | 99.56 | 0.873 | 0.863 | 16.86% |
| 2026-03-06 | TDB | 1366 | 3M | 2026-03-09 | 2026-06-08 | ¥12.8T | ¥3.6T | 3.55 | 99.81 | 0.776 | 0.767 | 43.20% |
| 2026-02-27 | TDB | 1365 | 3M | 2026-03-02 | 2026-06-01 | ¥10.7T | ¥3.7T | 2.91 | 99.81 | 0.784 | 0.771 | 4.53% |
| 2026-02-20 | TDB | 1364 | 3M | 2026-02-24 | 2026-05-25 | ¥8.7T | ¥3.7T | 2.38 | 99.81 | 0.778 | 0.757 | 59.85% |
| 2026-02-19 | TDB | 1363 | 1Y | 2026-02-20 | 2027-02-22 | ¥7.2T | ¥2.5T | 2.82 | 98.96 | 1.048 | 1.041 | 3.50% |
| 2026-02-13 | TDB | 1362 | 3M | 2026-02-16 | 2026-05-18 | ¥9.8T | ¥3.6T | 2.69 | 99.81 | 0.763 | 0.754 | 8.24% |
| 2026-02-09 | TDB | 1361 | 6M | 2026-02-10 | 2026-08-10 | ¥9T | ¥3T | 3.05 | 99.57 | 0.863 | 0.848 | 90.05% |
| 2026-02-06 | TDB | 1360 | 3M | 2026-02-09 | 2026-05-11 | ¥11.6T | ¥3.6T | 3.22 | 99.81 | 0.757 | 0.749 | 54.44% |
| 2026-01-30 | TDB | 1359 | 3M | 2026-02-02 | 2026-05-07 | ¥11.8T | ¥3.7T | 3.20 | 99.81 | 0.759 | 0.752 | 27.33% |
| 2026-01-22 | TDB | 1358 | 3M | 2026-01-26 | 2026-04-27 | ¥10.3T | ¥3.7T | 2.79 | 99.82 | 0.739 | 0.728 | 59.51% |
Source: Ministry of Finance. Amounts in millions of yen.