Summary of a Euro-Yen Swap Agreement with the European Central Bank
- December 21, 2011
- December 20, 2012
- October 31, 2013
The purpose of the agreement is to obtain euro (EUR), 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.
The European Central Bank (ECB) and the BoJ
The BoJ sells yen to the ECB to purchase EUR from the ECB by means of a spot transaction, with a simultaneous agreement by the BoJ to sell EUR to the ECB and to purchase yen from the ECB on the maturity date of such swap transaction by means of a forward transaction.
4. End of Drawing Period
5. Maximum aggregate amount