The lower liquidity coverage ratio was scheduled to end in September, but the FSC has decided to extend the relaxed requirements until end-March.
Under the law, P2P lenders must meet new capital requirements and be registered with the FSC. Consumer protection is also enhanced.
The bill provides the legal basis for the supervision of non-holding financial groups such as Samsung, Hanwha, Kyobo, Mirae Asset, Hyundai Motor, and DB.
State lender Eximbank is the first financial institution in South Korea and the third in Asia to issue SOFR-linked bonds.
The task force will establish a monitoring system for climate-related financial risks, lead efforts to boost investment in green industries, and promote ESG investing in Korea.
The FSS reportedly wants to determine why redemptions in some structured notes linked to Singapore trading firms have been frozen.
Korea Credit Information Services and the Financial Security Institute will be allowed to perform convergence of pseudonymised data originating from different financial businesses.
The FSC will impose new rules for securities firms on stress testing, liquidity management, leverage and mandatory FX hedging, among its measures to protect investors from risky products.
The FSC has meanwhile released new administrative guidance on private funds, aimed at strengthening supervision of the sector.
Mobile payment service providers will be allowed to offer deferred payment services, issue payment accounts to users, and enable larger transaction limits.
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