BOJ Extends Dollar Swap Agreement with Fed

Tuesday, 21 Dec 2010 09:40 AM

TOKYO, Dec 21 (Reuters) - The Bank of Japan on Tuesday decided to extend its dollar swap agreement with the U.S. Federal Reserve until Aug 1, 2011.

It will also continue dollar fund-supply operations until Aug 1 of next year, the BOJ said in a statement.

The BOJ's move is in step with the Fed's decision on Tuesday to renew currency swap facilities with other major central banks that were due to expire in January 2011.

The Fed reopened currency swap agreements with other major central banks in May to help ease market strains in Europe, reviving facilities put in place during the 2007-2008 credit crunch brought about by the collapse of U.S. housing markets. (Reporting by Leika Kihara; Editing by Nathan Layne)

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