Bank of Korea

Fintech / Regtech

Bank of Korea CBDC Pilot to Kick off This Month

By Editors | 09/08/2021

Ground X, Kakaobank, Kakao Pay, Consensys, Samsung and Onther are among the firms that will participate in the pilot. Phase one will be complete by December.

RBNZ Abruptly Announces End to Quantitative Easing

By Editors | 15/07/2021

The bond-buying programme was originally scheduled to run until June 2022. The RBNZ says the programme is no longer necessary for monetary policy purposes.

Fintech / Regtech

BOK Unveils Firms Seeking to Participate in CBDC Project

By Sanday Chongo Kabange | 15/07/2021

Units of SK Group, Naver and Kakao are the three firms competing to work on a CBDC project which will commence next month.

Market Infrastructure

BOK to Continue Bond Market Support, Scale Back Monetary Measures

By Editors | 01/07/2021

The BOK is concerned that growing financial risks, household debt, and higher inflation could spark a new crisis.

Capital / Liquidity

FSC Korea to End Bank Dividend Cap on 30 June

By Manesh Samtani | 28/06/2021

The FSC arrived at the decision based on economic projections, bank stress tests, higher capital adequacy ratios, and higher loan loss provisions.

Market Infrastructure

US Fed Extends Swap Lines with Nine Central Banks

By Sanday Chongo Kabange | 20/06/2021

The Fed has extended facilities provided to the central banks of Australia, Korea, Singapore and New Zealand, among others.

BOK Seeks Monetary Policy Normalisation This Year

By Ranamita Chakraborty | 16/06/2021

The central bank is considering a possible increase in its policy rate and a normalisation of monetary policy this year.

AML / KYC

Korea Designates FSS as Agency to Regulate Virtual Assets

By Sanday Chongo Kabange | 03/06/2021

The FSS will oversee the crypto industry, including in relation to AML rules imposed by the Act on Reporting and Using Specified Financial Transaction Information.

Crypto / Digital Assets

Leveraged Crypto Trading Threatens Financial System: BOK

By Sanday Chongo Kabange | 31/05/2021

High leverage, price volatility and increased trading in crypto assets puts households at risk of financial damages, which could impact the financial system.