The Monetary Authority of Singapore (MAS) announced a three-year renewal of its Bilateral Local Currency Swap Arrangement with the Bank of Japan (BOJ), extending the arrangement until November 2028. The swap line allows the two central banks to exchange local currencies of up to SGD 15 billion or JPY 1.1 trillion. It provides a mechanism for MAS to supply Japanese yen liquidity to eligible Singapore financial institutions to support their cross-border operations. The arrangement has been in place since November 2016 and has been renewed on a three-year cycle.
Monetary Authority of Singapore 2025-11-28
Monetary Authority of Singapore renews bilateral local currency swap arrangement with the Bank of Japan until November 2028
The Monetary Authority of Singapore renewed its Bilateral Local Currency Swap Arrangement with the Bank of Japan for three years, extending it to November 2028. The swap line allows exchanges of up to SGD 15 billion or JPY 1.1 trillion, enabling MAS to provide Japanese yen liquidity to eligible Singapore financial institutions. This arrangement has been in place since November 2016.