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Fintech / Regtech
BOK, FSC Clash Over Supervisory Authority in Fintech, Payments
By Sanday Chongo Kabange | 21/11/2020
The FSC has proposed legislative amendments that would give it power over payment settlements in the fintech industry. The BOK says this will create redundant regulations.
BOK Extends Special Loan Facility for Banks, Brokers, Insurers
By Editors | 03/11/2020
To be extended until 3 February, the special lending programme permits banks, brokerages and insurers to take out loans from the BOK against collateral.
FSC to Tighten Loan Rules, Banks Grow Risk Averse
By Editors | 13/10/2020
Chairman Eun Sung-soo said the FSC could impose regulatory measures to curb rising household debt. Meanwhile, banks have indicated a growing aversion to household lending.
Fintech / Regtech
BOK On Track to Test CBDC Distribution in 2021
By Editors | 11/10/2020
The distribution and circulation test is the final part of a three-step, 22-month pilot programme which commenced in April.
Fintech / Regtech
BOK Seeks Consulting Partnership to Advance CBDC Work
By Editors | 31/08/2020
BOK is looking to partner with a local company to establish the system architecture for a CBDC to initiate a pilot test by end-2021.
Securities / Derivatives
Korea to Extend Short Selling Ban Six More Months
By Manesh Samtani | 27/08/2020
During the six-month extension, the FSC plans to strengthen penalties for illegal short-selling and improve retail investor access to stock short sales.
Market Infrastructure
Eximbank Issues South Korea’s First SOFR-linked Bonds
By Editors | 20/08/2020
State lender Eximbank is the first financial institution in South Korea and the third in Asia to issue SOFR-linked bonds.
Securities / Derivatives
Korea Launches Bond-Buying, Asset-Buying SPVs
By Editors | 19/07/2020
Korea Development Bank is operating an SPV to buy low-rated corporate debt. KAMCO is separately being deployed to buy up corporate assets at fair prices.
AML / KYC
BOK Takes Over Blockchain Authentication Tool BankSign
By Editors | 14/07/2020
BankSign was developed by Samsung SDS in collaboration with the Korea Federation of Banks to allow for easier customer authentication on different banks’ mobile apps.
Capital / Liquidity
Korean Banks Opt to Adopt Basel III Credit Risk Framework Early
By Editors | 29/06/2020
Fifteen banks and eight bank holding companies opted to adopt the Basel III credit risk framework early as it will boost their capital adequacy ratios.
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