As those purchases are decided based on monetary policy judgment to influence longer-term interest rates and other rates, there is no such condition that the total size of the purchases should be kept within the amount of banknotes issued.
The outstanding amount of the JGBs held by the Bank has increased from about 66 trillion yen at the end of 2011 to about 84 trillion yen at present, coming to exceed the outstanding amount of banknotes issued. That is due to an increase in the JGB purchases through the Program under pursuing powerful monetary easing.