Park on Korea's bank supervisory arrangements

In a speech on 'Korea's experience in the choice of bank supervisory arrangements' given on 12 February, Dr Seung Park of the Bank of Korea said he thinks it is crucial that the supervisory agency be required to consult with the central bank before the revision of prudential regulations.

Korea's current supervisory system was introduced in some haste under the extraordinary situation prevailing in the aftermath of the currency crisis six years ago. Therefore, there have been some frictions

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