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The consolidation of the financial supervisory system helped Korea to quickly and efficiently recover from the Asian financial crisis that broke out at the end of 1997. The FSS led an intensive restructuring of the financial industry, eliminating insolvent financial companies and putting the financial system back on track.
It makes financial policies, and directs the Financial Supervisory Service. The Financial Supervisory Commission was established in 1998. With the start of Lee Myung-bak administration, the Commission was rearranged into the Financial Services Commission; the new one took over the policy-making authority from the Finance Ministry.
South Korea: Financial Services Commission (FSC) ; Financial Supervisory Service (FSS) ; Korea Deposit Insurance Corporation (KDIC) Kosovo: Central Bank of Kosovo: Kuwait: Central Bank of Kuwait ; Capital Markets Authority (CMA) Kyrgyzstan: State Service for Financial Market Regulation and Supervision (FSA) Laos: Lao Securities Commission (LSC ...
The Economic Planning Board introduces the Republic of Korea's first electronic mainframe computer, an IBM 1401 system, to process data collected from the country's national census conducted the previous year. [4] [5] 1994
The Bank of Korea conducts supervisory functions for financial institutions as stipulated in the Bank of Korea Act and other related financial acts. The Bank may request information from banks and from non-bank financial institutions that enter into agreements to hold current account with it, when it deems necessary for the implementation of ...
The Korea Deposit Insurance Corporation (KDIC) is a South Korean deposit insurance corporation, established in 1996 to protect depositors and maintain the stability of the financial system. The main functions of KDIC are insurance management, risk surveillance, resolution, recovery, and investigation.
Financial Services Commission (South Korea) Financial Supervisory Service This page was last edited on 25 December 2019, at 17:55 (UTC). Text ...
In general, three types of financial supervisory architecture have been identified by scholars: a "sectoral" supervisory architecture (sometimes referred to as "institutional" or "functional"), in which different authorities are in charge of different sub-sectors of the financial system such as banking, insurance, and securities markets;