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

October 16, 2009
Bank of Japan

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 February 1, 2010.

The Bank of Japan believes that this action will continue to contribute to securing stability in regional financial markets as there remain significant uncertainties regarding the global economy and financial market, although the global economy has been recovering recently.

• 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. This measure was extended on March 31 until October 30, 2009.

• See the annex figure<PDF, 38KB>.

For further information, please contact

Center for Monetary Cooperation in Asia, International Department

Tel: +81-3-3277-3773