S'pore, RI in repo deal

S'pore, RI in repo deal

SINGAPORE (Reuter): The Monetary Authority of Singapore (MAS)
and the Bank of Indonesia have agreed to establish a repurchase
agreement line, according to the Television Corporation of
Singapore (TCS).

The state-owned broadcaster said a Memorandum of Understanding
had been signed on Saturday between the two central banks during
an annual bi-lateral meeting.

The repurchase line will provide an alternative source of
liquidity which either side can draw on.

Sources at Bank Indonesia told The Jakarta Post that the
Indonesian central bank would also sign similar agreements with
the Hong Kong Monetary Authority and the Central Bank of
Thailand .

The agreements would be signed today during an informal
meeting of central banks and monitories of Southeast Asia in Hong
Kong.