Extension of the Measure to Increase the Size of the Yen-Won Swap Arrangement
March 31, 2009
Bank of Japan
In view of continued negative spillover from the global financial turmoil, the Bank of Japan has agreed with the Bank of Korea to extend the measure(*) to increase the maximum amount of the bilateral yen-won swap arrangement. The increase will be effective until October 30, 2009.
The Bank of Japan believes that this action mitigates adverse influences of the global financial turmoil on the two sound and well-managed economies and contributes to securing stability in regional financial markets.
- The Bank of Japan agreed with the Bank of Korea in December 2008 on an increase in the maximum amount of the bilateral yen-won swap arrangement from three billion US dollars equivalent to twenty billion US dollars equivalent as a temporary measure effective until the end of April 2009.
- See the annex figure<PDF, 46KB>.
For further information, please contact
Center for Monetary Cooperation in Asia, International Department