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October 19, 2011
Bank of Japan
The Bank of Japan has reached an agreement with the Bank of Korea on an increase in the maximum amount of the bilateral yen-won swap arrangement from three billion US dollars equivalent to thirty billion US dollars equivalent.This increase will be effective until the end of October 2012.
The bilateral yen-won swap arrangement between the two central banks, which is designed for a non-crisis situation, had been made effective in May 2005, with a view to stabilizing regional financial markets through supplying short-term liquidity.
The Bank of Japan believes that this action will mitigate adverse influences of heightened uncertainty in the global market on the two sound and well-managed economies and contribute to enhancing stability in regional financial markets.
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