Republic of Korea: Report on the Observance of Standards and Codes

Republic of Korea: Report on the Observance of Standards and Codes

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This paper discusses key findings of the Report on the Observance of Standards and Codes for the Republic of Korea. Responsibilities, objectives, and powers related to banking supervision are clearly defined in the Republic of Korea. The legal framework currently in place reasonably provides the necessary powers to authorize the establishment of banks, conduct ongoing supervision, address compliance with laws and regulations, as well as undertake corrective actions to address safety and soundness concerns. Authorization processes are generally thorough but there is room to require formal approval for certain activities.... such as the KRX systems, Continuous Linked Settlement (CLS) and the retail payment systems conduct their ultimate ... Credit Risk BOKa#39;s exposure to credit risk is limited as it provides intra-day credit to participants on a fully collateralized anbsp;...


Title:Republic of Korea: Report on the Observance of Standards and Codes
Author: International Monetary Fund. Monetary and Capital Markets Department
Publisher:International Monetary Fund - 2014-05-20
ISBN-13:

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