The first supervisory college focusing on financial conglomerates concluded in June. The second supervisory college will commence in October.
September 6, 2022The BSP, SEC, PDIC, and Insurance Commission have agreed to establish a supervisory college for financial conglomerate supervision.
February 4, 2022Bank capital adequacy could fall to 11.7% by 2022 in a baseline scenario, 9.3% in an adverse scenario, and 4.9% in a severe adverse scenario.
April 20, 2021Deputy Governor Chuchi Fonacier spoke to Regulation Asia about planned measures to promote digital payments, help MSMEs, and further strengthen the banking sector.
December 7, 2020The bill provides the legal basis for the supervision of non-holding financial groups such as Samsung, Hanwha, Kyobo, Mirae Asset, Hyundai Motor, and DB.
August 26, 2020Under the bill, non-holding financial conglomerates like Samsung, Mirae Asset and Hyundai Motor will be subject to new requirements to monitor group risks and measure capital adequacy.
June 8, 2020The FSC has approved revisions to enhance capital adequacy assessments, internal control systems, and disclosure standards of financial conglomerates.
April 30, 2020The FSC will expand funding for innovative companies and key industries, strengthen financial consumer protections, tighten mortgage lending rules, and facilitate debt restructuring.
December 28, 2019Banks cannot have executives or board members serving concurrently as directors or supervisors at the virtual banks in which they are invested.
September 13, 2019South Korea's FSC is pushing to expand its oversight of conglomerates to include those that own other types of financial businesses besides banks.
March 7, 2019