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Summary of a Swiss Franc-Yen Swap Agreement with the Swiss National Bank


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

1. Purpose

The purpose of the agreement is to obtain Swiss franc (CHF), 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 Swiss National Bank (SNB) and the BoJ

3. Transactions

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

4. End of Drawing Period


5. Maximum aggregate amount