Financial Services Commission Reviews Bank Sector Funding and Operation Status

[Asia Economy Reporter Sim Nayoung] On the 3rd, as a follow-up to the market inspection meetings conducted so far, the Financial Services Commission held a kick-off meeting for the 'Banking Sector Financial Market Inspection Working Task Force (TF),' composed of practical officers in charge of fund management from the Bank of Korea, Financial Supervisory Service, Korea Federation of Banks, major banks, and private experts.

The TF included the head of the Banking Division of the Financial Services Commission, the head of the Bank Analysis Team at the Bank of Korea, the head of the Sound Management Team of the Banking Supervision Bureau at the Financial Supervisory Service, the head of the Fund Market Department at the Korea Federation of Banks, fund management officers from seven banks (Kookmin, Shinhan, Woori, Hana, Nonghyup, Busan, Jeonbuk Banks), and private experts.

The Financial Services Commission stated, "At the meeting, the FSC inspected the flow of funds in the short-term money market, bond market, and loan market, as well as the current status of fund procurement and management in the banking sector," and added, "the banking sector's future plans in response to the recent market situation were discussed."

The FSC plans to hold TF meetings once a week for the time being and operate the task force on a regular basis. An FSC official said, "We plan to review various measures to stabilize and revitalize the fund intermediation function of the banking sector, which is relatively sound in terms of fund conditions, based on market principles."

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