Philippine central bank and BoJ sign second bilateral swap deal
NEWS
The BSA is effective for a three-year period and allows the monetary authorities to swap their local currencies against the US dollar. The BSP can swap up to $6 billion while BoJ can swap up to $500 million, when in immediate need for balance of payments or short-term liquidity support.
The new BSA reflects measures adopted by the Asean + 3 Finance Ministers on May 4, 2005 as part of the CMI Second Stage. The authorities first entered a one-way swap from Japan to the Philippines in August 2001
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