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Subscription of the Asian Bond Fund

June 2, 2003
Bank of Japan

The Bank of Japan has decided to subscribe to the Asian Bond Fund offered by the Bank for International Settlements (BIS). The Fund is proposed by EMEAP1 (Executives' Meeting of East Asia-Pacific Central Banks) (Link to an external website) as part of cooperation among regional central banks aiming at fostering bond markets in Asia.

The amount of subscription will be US$ 100 million.

The Fund will be managed by the BIS and invested in a basket of US dollar denominated bonds issued by Asian sovereign and quasi-sovereign issuers in eight EMEAP economies (People's Republic of China, Hong Kong SAR, Indonesia, Korea, Malaysia, Philippines, Singapore, and Thailand).

  1. EMEAP members consist of Reserve Bank of Australia, People's Bank of China, Hong Kong Monetary Authority, Bank Indonesia, Bank of Japan, Bank of Korea, Bank Negara Malaysia, Reserve Bank of New Zealand, Bangko Sentral ng Pilipinas, Monetary Authority of Singapore, and Bank of Thailand.