Expiration of the Measure to Increase the Size of the Yen-Won Swap Arrangement

April 30, 2010
Bank of Japan

The Bank of Japan announces, in coordination with the Bank of Korea, the expiration of the temporary measure( ^* ) to increase the maximum amount of the bilateral yen-won swap arrangement as of April 30, 2010, as scheduled.

The Bank of Japan believes that this measure has significantly contributed to mitigating adverse influences of the global financial turmoil on the two economies and also to securing and ensuring stability in regional financial markets. Given the improvements in global and regional economies and financial markets, both central banks confirmed that this temporary measure has achieved its objective.

• The Bank of Japan agreed with the Bank of Korea on December 12, 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. This measure was extended on March 31, 2009 until October 30, 2009, on October 16, 2009 until February 1, 2010, and on January 19, 2010 until April 30, 2010.

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