Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Sawtooth who wrote (12273)	7/12/1998 9:21:00 PM
From: Ramsey Su	Read Replies (2) \| Respond to of 152472

Tim, This is an example of the type of stuff that will eventually cure the Asian contagion. Ramsey TOKYO (Nikkei)-The Bank of Japan will introduce a system of providing yen loans to other central banks, mainly in Asian countries, using as collateral Japanese government bonds held by those institutions, BOJ sources said. The move is primarily designed to help other Asian countries ease liquidity problems and stabilize their financial systems. It is also aimed at promoting internationalization of the Japanese currency, the sources said. The BOJ will propose the idea at meetings of the Bank for International Settlements on Monday and the East Asian and Pacific Central Bankers on Tuesday, both to be held at the BOJ's head office in Tokyo. The system envisages a formula under which a foreign central bank would sell its Japanese government bonds to the BOJ under a repurchase agreement, in exchange for which the BOJ would loan yen to that central bank using the bonds as collateral. The BOJ initially plans to conclude bilateral agreements on the system with monetary authorities in Hong Kong, Singapore and China, the sources said. It hopes to ink similar accords with other countries by the end of the year. While the BOJ already has similar agreements with other Asian central banks in regard to dollar loans, this would be the first time to adopt them for yen-denominated lending. (The Nihon Keizai Shimbun Sunday edition)