Reforming the Korean banking system

Article Abstract:

The Korean financial system which fell during the Asian crisis and the domestic crisis in 1997 was transformed when the elected government in Dec 1997 encouraged reforms for the financial system. A legislation in 1997 allowed financial institutions to widen their range of activities. The Financial Supervisory Commission was appointed to look after all financial services and will gradually implement international rules in loan classification and accounting disclosures.

Banking Institutions, Depository Credit Intermediation, Other Financial Vehicles, DEPOSITORY INSTITUTIONS, Financial Services NEC, Banking industry, Management, Financial services industry, Financial services, Banks (Finance), Disclosure statements (Accounting), Loans

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Overview

Article Abstract:

Several developments highlighted the performance of international financial markets in the first three qtrs. of 1996. Organization for Economic Cooperation countries financed a huge portion of global financing activity. The period saw an increase in the amount of bond offerings. Southern American countries dominated the bond market with the release of $21 million worth of bonds.

Public & Private Bonds, Economic aspects, Financial markets, Bonds, Bonds (Securities), South America, Organization for Economic Cooperation and Development

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