The Bank of Japan said Monday it will buy 50 billion yen worth of asset-backed commercial paper outright Wednesday.
It is the first central bank operation under a program announced in April to buy private-sector risk assets, such as commercial paper backed by sales credits that small and midsize companies owe to large businesses.
The new program is aimed at aiding the financing of small businesses by promoting the development of the asset-backed securities market in Japan. At the same time, it allows major companies to turn them into cash more quickly.
Mizuho Financial Group Inc. has already decided to sell ABCP to the central bank.
Industry analysts say that Wednesday's tender presents no problems for the BOJ as the amount of purchase is relatively small.