Bank of Korea

Crypto / Digital Assets

BOK, FSC Sign MoU to Implement Deposit Token Test Project

By Editors | 10/11/2024

Seven banks will issue CBDC-backed deposit tokens that can be used as digital vouchers for users to spend on culture, education and other purposes.

Crypto / Digital Assets

BIS and APAC Central Banks Release Results of Project Mandala

By Sanday Chongo Kabange | 29/10/2024

Project Mandala demonstrated that jurisdiction-specific regulatory requirements can be embedded in cross-border transaction protocols.

Crypto / Digital Assets

Korea to Start Testing CBDC Backed Deposit Tokens

By Editors | 24/09/2024

BOK will issue wholesale CBDC, which banks will convert to deposit tokens for use by 100,000 consumers for retail purchases.

Fintech / Regtech

More Than 40 Private Sector Firms Join BIS Project Agora

By Manesh Samtani | 17/09/2024

Seven central banks will work with more than 40 financial firms to explore how tokenisation can enhance wholesale cross-border payments.

Capital / Liquidity

Korea to Introduce Stress Buffer Capital Requirement for Banks

By Thisanka Siripala | 13/09/2024

The requirement will apply to 17 commercial banks and eight financial holding firms, requiring them to hold extra capital based on their stress test results.

Capital / Liquidity

Taiwan Considers Measures to Facilitate Loans to First Home Buyers

By Editors | 08/09/2024

The FSC is considering excluding loans to first-home buyers, urban renewal projects and related construction work from bank lending limits.

Indonesia, Korea Set to Implement Local Currency Framework

By Editors | 02/09/2024

14 Indonesian and 7 Korean banks have been appointed to handle transactions between the two countries using local currencies.

Securities / Derivatives

Korea Outlines Three-Step Plan to Expand KOFR Adoption

By Manesh Samtani | 02/09/2024

FSC Vice Chair Kim So-young said KOFR adoption is no longer a matter of choice but a practical necessity that must be swiftly implemented.

Capital / Liquidity

Korea Confirms Plans to Tighten Lending Rules in September

By Editors | 23/08/2024

Starting in September, the second phase of the ‘Stressed DSR’ rules will apply, and lenders will be required to calculate the DSR for all new household loans.