Singapore, 30 November 2016The Monetary Authority of Singapore and the Bank of Japan today announced the establishment of a bilateral local currency swap agreement. This agreement allows for the exchange of local currencies between the two central banks of up to SGD 15 billion or JPY 1.1 trillion. It will enable MAS to provide Japanese Yen liquidity to eligible Singapore financial institutions in support of their cross-border operations.

2 The swap agreement is effective as of 30 November 2016, for a term of three years.

Source: Monetary Authority of Singapore