Republic of Korea
Auteur: International Monetary Fund. Monetary and Capital Markets Department
Nombre de pages: 73 pages
ISBN: 1484399587, 9781484399583
Edition: International Monetary Fund
Date de publication: International Monetary Fund
Description: 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.