It is suggested that the flux transfer events (FTE's) observed by ISEE satellites can be the result of multiple x-line reconnection at the dayside magnetopause, which may be caused by the development of a tearing instability. In the presence of the y-component of the magnetic field (By) in the transition region of the magnetopause, the tearing instability leads to the interconnection of the geomagnetic field lines and the interplanetary field lines, and hence to the occurrence of FTE's. Twisted field lines and field-aligned currents are formed as a consequence of the tearing instability. The flow direction of the field-aligned currents depends on By and the results are found to be consistent with satellite observations.