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Summary of a Canadian Dollar-Yen Swap Agreement with the Bank of Canada

December 21, 2011
Revision:
  • December 20, 2012
  • October 31, 2013

1. Purpose

The purpose of the agreement is to obtain Canadian dollar (CAD), which is to be provided to financial institutions for the time being by the Bank of Japan (BoJ), to ensure the smooth functioning and stability of financial markets.

2. Parties

The Bank of Canada (BOC) and the BoJ

3. Transactions

The BoJ sells yen to the BOC to purchase CAD from the BOC by means of a spot transaction, with a simultaneous agreement by the BoJ to sell CAD to the BOC and to purchase yen from the BOC on the maturity date of such swap transaction by means of a forward transaction.

4. End of Drawing Period

Unspecified

5. Maximum aggregate amount

Unlimited