diff -r a9305102c892 Python/ceval.c
--- a/Python/ceval.c	Fri Jan 30 20:11:10 2015 +0100
+++ b/Python/ceval.c	Sat Jan 31 01:57:37 2015 +0100
@@ -648,6 +648,7 @@ enum why_code {
         WHY_YIELD =     0x0040  /* 'yield' operator */
 };
 
+static void swap_exc_state(PyThreadState *, PyFrameObject *);
 static enum why_code do_raise(PyObject *, PyObject *, PyObject *);
 static int unpack_iterable(PyObject *, int, PyObject **);
 
@@ -940,6 +941,9 @@ PyEval_EvalFrameEx(PyFrameObject *f, int
     assert(stack_pointer != NULL);
     f->f_stacktop = NULL;       /* remains NULL unless yield suspends frame */
 
+    if (co->co_flags & CO_GENERATOR)
+        swap_exc_state(tstate, f);
+
 #ifdef LLTRACE
     lltrace = PyDict_GetItemString(f->f_globals, "__lltrace__") != NULL;
 #endif
@@ -3016,6 +3020,9 @@ fast_yield:
 
     /* pop frame */
 exit_eval_frame:
+    if (co->co_flags & CO_GENERATOR)
+        swap_exc_state(tstate, f);
+
     Py_LeaveRecursiveCall();
     tstate->frame = f->f_back;
 
@@ -3468,6 +3475,21 @@ reset_exc_info(PyThreadState *tstate)
     Py_XDECREF(tmp_tb);
 }
 
+static void
+swap_exc_state(PyThreadState *tstate, PyFrameObject *f)
+{
+    PyObject *tmp;
+    tmp = tstate->exc_type;
+    tstate->exc_type = f->f_exc_type;
+    f->f_exc_type = tmp;
+    tmp = tstate->exc_value;
+    tstate->exc_value = f->f_exc_value;
+    f->f_exc_value = tmp;
+    tmp = tstate->exc_traceback;
+    tstate->exc_traceback = f->f_exc_traceback;
+    f->f_exc_traceback = tmp;
+}
+
 /* Logic for the raise statement (too complicated for inlining).
    This *consumes* a reference count to each of its arguments. */
 static enum why_code