Republic of Korea: Report on the Observance of Standards and Codes
Electronic Access:
Free Download. Use the free Adobe Acrobat Reader to view this PDF file
Summary:
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.
Series:
Country Report No. 2014/127
Subject:
Banking Credit risk Financial institutions Financial regulation and supervision Financial services Insurance companies Legal support in revenue administration Revenue administration Securities
English
Publication Date:
May 20, 2014
ISBN/ISSN:
9781484399583/1934-7685
Stock No:
1KOREA2014003
Pages:
73
Please address any questions about this title to publications@imf.org