South Korea's Financial Services Commission will lift barriers to allow affiliates of large banking groups to engage in cross-sector business starting next year.
The high liquidity coverage ratios reported by Korean banks with their March quarterly results are credit positive, according to a report by Moody's Investors Service.
KRX says increase to 30 percent from 15 percent will help local equity market accommodate foreign inflows.
The Financial Supervisory Service will increase capital requirements domestic systemically important banks to comply with international rules.
South Korea’s chief financial regulator has vowed to remove barriers that have hindered large banking groups from diversifying their portfolios and doing cross-sector business.
South Korea will provide US$600 million in soft loans for major development projects in Asia over the next three years following a deal signed with the Asian Development Bank (ADB).
S. Korea plans to launch an electronic securities system by 2019 to cut costs and enhance transparency in transacting securities, the Financial Services Commission (FSC) said.
Customers opening new bank accounts will no longer be required to visit bank offices in person
South Korea's Financial Services Commission (FSC) said the state-run policy lenders Korea Development Bank and the Industrial Bank of Korea will allocate 200 billion won ($184.9 million) in funds this year to support financial technology companies or fintech.
Indonesia’s Financial Services Authority (OJK) has signed an agreement boosting cooperation with South Korea’s Financial Supervisory Service (FSS) in overseeing the financial industry.
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