Banks only started offering 50-year mortgages this year, but household debt grew in August at the fastest pace since February 2020.
September 14, 2023Bank presidents asked to inspect their institutions' internal control systems, and to do more to contain rising levels of household indebtedness.
August 21, 2023This is the first time the HKMA has relaxed the countercyclical macroprudential measures for residential properties since they were implemented in 2009.
July 10, 2023Restrictions are relaxed for multi-homeowners, property rental and trading businesses, and ordinary homebuyers to boost real estate demand.
February 14, 2023The initiatives seek to mitigate risks related to financial stability, insolvencies, scams, and virtual assets, while also promoting innovation and fintech.
February 1, 2023Most debtors will still be subject to income-based restraints. A refinancing programme will allow borrowers to convert variable-rate mortgages to long-term fixed-rate mortgages.
June 21, 2022The FSS will be led by former prosecutor Lee Bok-hyun, while the FSC will be led by Kim Joo-hyun, who helped guide Korea through the 2008 crisis.
June 21, 2022The work plan focuses on measures to maintain financial stability, reduce debt risks, promote financial innovation, and enhance the FSC's rules on network security.
December 29, 2021Among the measures, the FSC will monitor how banks are applying suitability and adequacy principles in their lending, and impose fines for violations.
October 29, 2021Non-bank institutions such as finance companies and property developers have managed to circumvent the HKMA’s mortgage lending limits.
June 2, 2021