# Japan Excess Reserves at the BOJ, reserve-requirement institutions (average amounts outstanding)

Japan Excess Reserves at the BOJ, reserve-requirement institutions (average amounts outstanding) was 3,673,820 100M JPY in September 2026, down 1.7% from August 2026 and down 16.5% from a year earlier.
That is the lowest reading since May 2020.
Over the past ten years it has ranged from 2,702,158 100M JPY (Sep 2016) to 4,820,704 100M JPY (Apr 2024), averaging 3,975,995 100M JPY.
The next update is expected on 19 November 2026.

- Source agency: Bank of Japan
- Makrognosis code: `JP.EXCESSRES.M.NSA`
- Frequency: monthly
- Units: 100M JPY
- Coverage: 2005-01-01 to 2026-09-01 (261 observations)
- Page: https://makrognosis.robomacro.com/data/japan/excess-reserves-at-the-boj-reserve-requirement-institutions-average

## Recent data

| Period | Value |
|---|---:|
| September 2026 | 3,673,820 100M JPY |
| August 2026 | 3,737,760 100M JPY |
| July 2026 | 3,827,658 100M JPY |
| June 2026 | 3,919,720 100M JPY |
| May 2026 | 4,005,833 100M JPY |
| April 2026 | 4,145,945 100M JPY |
| March 2026 | 4,030,551 100M JPY |
| February 2026 | 4,057,972 100M JPY |
| January 2026 | 4,115,493 100M JPY |
| December 2025 | 4,160,285 100M JPY |
| November 2025 | 4,277,779 100M JPY |
| October 2025 | 4,388,721 100M JPY |
| September 2025 | 4,398,049 100M JPY |
| August 2025 | 4,603,962 100M JPY |
| July 2025 | 4,612,131 100M JPY |
| June 2025 | 4,651,987 100M JPY |
| May 2025 | 4,655,694 100M JPY |
| April 2025 | 4,742,419 100M JPY |
| March 2025 | 4,622,925 100M JPY |
| February 2025 | 4,640,427 100M JPY |
| January 2025 | 4,578,548 100M JPY |
| December 2024 | 4,657,304 100M JPY |
| November 2024 | 4,693,800 100M JPY |
| October 2024 | 4,778,285 100M JPY |

## API

```
curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/series/JP.EXCESSRES.M.NSA"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/series/JP.EXCESSRES.M.NSA",
                 headers={"X-API-Key": KEY})
obs = r.json()["observations"]
```