Republic of Korea: Financial Sector Assessment Program-Technical Note-Financial Conglomerates Supervisions

International Monetary Fund

No 2020/275, IMF Staff Country Reports from International Monetary Fund

Abstract: Oversight of the Korean financial system is broadly effective. Korea’s Financial Services Commission (FSC) and Financial Supervisory Service (FSS) have in place regulatory and supervisory regimes in line with international standards with only a few remaining gaps. The authorities have addressed most of the recommendations of the previous FSAP and made good progress in benchmarking their frameworks with the Basel Core Principles (BCP), the Insurance Core Principles (ICP) and the International Organization of Securities Commissions (IOSCO) Objectives and Principles for Securities Supervision (IOP).

Keywords: ISCR; CR; risk management; fair value; FSS enforcement process; representative company; core activity; FSS staff; modeling approach; operating capital; risk assessment; financial system; credit risk; capital market; internal audit; hedge fund; financial market; capital ratio; Financial conglomerates; Insurance companies; Capital adequacy requirements; Corporate governance; Global; Asset management (search for similar items in EconPapers)
Pages: 73
Date: 2020-09-18
New Economics Papers: this item is included in nep-ias
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