Korea regulator urges banks to lower deposit rates

The chairman of South Korea's regulatory Financial Supervisory Commission on Feb 21, 2001 called on banks to lower deposit rates. "Lowering rates could boost the bond and stock markets, which would, in turn, help banks reduce risk on corporate loans," Lee Keun-young said in a seminar with chief executives of financial institutions.

He also asked for cooperation of creditors in corporate restructuring and for them to try various ways to help companies operate before designating them non-viable.