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Extension of the Swap Arrangement between the Bank of Korea and the Bank of Japan

June 22, 2010
Bank of Japan

The Bank of Japan has agreed with the Bank of Korea to extend the bilateral yen-won swap arrangement for another 3 years to and including July 3, 2013. *

  • The Bank of Japan agreed to enter into the bilateral yen-won swap arrangement with the Bank of Korea in May 2005, effective until July 2007. The arrangement was then extended for 3 years until July 3, 2010.

The maximum amount of the swap arrangement is three billion US dollars equivalent in yen and won.

This arrangement is in line with the framework of the Chiang Mai Initiative in pursuit of stabilizing regional financial markets through supplying short-term liquidity.

The Bank of Japan believes that this extension also serves to enhance mutual cooperation between the two central banks.

Inquiries

Center for Monetary Cooperation in Asia, International Department

Tel : +81-3-3277-1039