Republic of Korea: Financial System Stability Assessment, including Reports on the Observance of Standards and Codes on the following topics: Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, Corporate Governance, and Payment Systems

International Monetary Fund

No 2003/081, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper presents key finding of the Financial System Stability Assessment for the Republic of Korea, including Reports on the Observance of Standards and Codes on Monetary and Financial Policy Transparency, Banking Supervision, Securities Regulation, Insurance Regulation, Corporate Governance, and Payment Systems. Korea has achieved a high degree of observance of key standards and codes through newly revised laws and competent supervision. However, supervisory independence could be strengthened to improve the ability to provide authoritative guidance and interpretation. Reform of the banking sector has restored profitability and improved its strength and resilience.

Keywords: ISCR; CR; financial market; investment trust; banking sector; central bank; government bond; balance sheet; due diligence; Anti-money laundering and combating the financing of terrorism (AML/CFT); Insurance; Insurance companies; Securities; Commercial banks; Global (search for similar items in EconPapers)
Pages: 74
Date: 2003-03-19
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