Gist of finance, banking agreements

Greater Noida India KYODO

The following is a gist of the agreements reached Friday by finance ministers and central bank governors from Japan and the Association of Southeast Asian Nations:

Japan will revive bilateral currency swap agreements with Malaysia, Singapore and Thailand.

Japan agreed to strengthen existing bilateral swap arrangements with Indonesia and the Philippines.

Japan and ASEAN will work together to promote the use of local currencies by Japanese companies operating in the 10 ASEAN member states.

Japan and ASEAN agreed on having the Finance Ministry purchase bond exchange-traded funds in emerging Asian economies.

Japan will offer assistance in reforming the financial systems of countries including Vietnam and Myanmar.