The change of manager at the Riverside Stadium means that it is almost certain that Emnes will return to his parent club with Tony Mowbray keen to look at all options within his squad.
The Swans are thought to be keen to try and extend the deal but Boro are almost certain to resist that move and bring Emnes back before deciding on his long term future.
Emnes joined the Swans a matter of hours before Gordon Strachan left the club and has scored one goal since joining the club but his time here looks set to be limited.
Mowbray said: “I’ve got to give everybody a chance. It doesn’t do any harm to look at everybody in the squad.
“But there’s a limit to what we can do with players who are currently out on loan because of the arrangements that are in place.”
