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  "domain": "derivatives",
  "title": "Yen-USD cross-currency basis swap market",
  "entry_type": "wiki_entry",
  "frontmatter": {
    "title": "Yen-USD cross-currency basis swap market",
    "aliases": [
      "yen-basis-swap-market",
      "JPY-USD basis swap",
      "yen basis swap",
      "USD-JPY cross-currency basis",
      "円ドルベーシススワップ",
      "yen funding via basis swap",
      "quarter-end basis widening",
      "USDJPY basis curve"
    ],
    "domain": "derivatives",
    "type": null,
    "created": "2026-05-25",
    "last_updated": "2026-07-29",
    "last_tended": "2026-07-29",
    "review_by": "2027-01-29",
    "confidence": "likely",
    "tags": [
      "derivatives",
      "basis-swap",
      "FX",
      "USD-funding",
      "JPY",
      "megabank",
      "dealer"
    ],
    "status": "active",
    "canonical_anchor": null,
    "related": [],
    "note": null,
    "sources": [
      "BIS cross-currency basis analysis — https://www.bis.org/publ/qtrpdf/r_qt1609e.htm",
      "BIS OTC derivatives statistics — https://www.bis.org/statistics/derstats.htm",
      "ISDA interest-rate transaction disclosure — https://www.isda.org/a/ORiDE/isda-rates.pdf",
      "BOJ US-dollar funds-supplying operations — https://www.boj.or.jp/en/mopo/measures/mkt_ope/ope_h/index.htm",
      "Federal Reserve coordinated swap-line operations — https://www.federalreserve.gov/newsevents/pressreleases/monetary20200320a.htm"
    ]
  },
  "summary": "A yen-USD cross-currency basis swap (CCBS) is an OTC derivative in which two counterparties exchange principal and periodic floating-rate interest payments in two different currencies — typically JPY against USD — over a multi-year tenor. The \"basis\" is the spread (in basis points) added to one leg,",
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    "Wiki route",
    "Instrument Mechanics",
    "Post-2008 Evolution",
    "Corporate USD Funding via JPY Funding Swap",
    "Public dealer-data boundary",
    "Basis Widening Triggers",
    "Comparison to EUR-USD Basis",
    "Data Surface"
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