MAS extends bilateral currency swap program with Bank of Japan

Under the agreement, Singapore provides yen liquidity to eligible financial firms to support cross-border operations.

The Monetary Authority of Singapore (MAS) has renewed its Bilateral Local Currency Swap Agreement with the Bank of Japan for another three years, according to a press release.

Under this program, MAS will provide yen liquidity to enable eligible Singapore financial institutions to support their cross-border operations.

The agreement was established in November 2016 to enable the two central banks to exchange local currencies with each other for up to $15b (JPY1.1t).

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