The magneto-optical and magnetic properties of Co (50 Å)/Bi/Co (50 Å) and Bi/Co (50 Å) samples are investigated. Magneto-optical investigations indicate that the shapes of transverse Kerr effect (TKE) spectra are similar for all studied samples. TKE values decrease for the Co/Bi/Co structures at t
Bi > 40 Å and for the Co/Bi samples at t
Bi > 5 Å as compared with TKE values of the single-layer Co thin film. The decrease in the volume ratio of the magnetic to nonmagnetic phases causes the reduction in the contribution of the magnetic phase to magneto-optical signals. Magnetic investigations show that the saturation field and coercivity of the studied samples increase with increasing t
Bi. The exchange oscillatory coupling between Co layers through the Bi spacer in Co/Bi/Co samples with various periods (short and long) is observed in the t
Bi range from 2 to 500 Å. These data are explained by the dependence of Fermi energy on Bi thickness and the changes in the Bi band structure with the decrease in t
Bi.