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BOK chief becomes first Asian to chair BIS committee
- A revision of the Chiang Mai Initiative Multilateralisation, a multilateral currency swap arrangement among South Korea, China, Japan and the Association of Southeast Asian Nations, took effect Wednesday, the Bank of Korea said.
- All 13 members of the ASEAN+3 group have completed their internal procedures for signing the revised agreement, which was endorsed at the ASEAN+3 Finance Ministers' and Central Bank Governors' Meeting in May 2025, according to the BOK.
- The revised CMIM includes the Rapid
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