Hana and Daegu Bank Request Another Extension for KIKO Compensation Deadline from FSC
[Asia Economy Reporter Kwon Haeyoung] Hana Bank and Daegu Bank have requested an extension of the acceptance period for the Financial Supervisory Service's decision on compensation for foreign exchange derivative product KIKO.
According to the financial sector on the 6th, Hana Bank requested an extension yesterday from the Financial Supervisory Service if more time was needed to decide whether to accept the compensation proposal recommended by the Dispute Mediation Committee in December last year.
A Hana Bank official explained, "We requested an extension from the Financial Supervisory Service yesterday late in order to make a careful judgment through additional fact-checking and legal review related to KIKO compensation, considering the schedule of the next board meeting."
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Daegu Bank also requested an extension of the decision deadline regarding KIKO compensation yesterday. As a result, both Hana Bank and Daegu Bank have requested extensions three times, and the Financial Supervisory Service has agreed to accept them.
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