FSB praises ‘good progress’ on S Korean resolution framework
Peer review finds additional work to be done on filling gaps and strengthening supervision
A peer review published by the Financial Stability Board praises the “good progress” made by South Korea on implementing its resolution and crisis management frameworks.
“The resolution framework already includes a number of the resolution powers set out in the FSB’s Key Attributes of Effective Resolution Regimes for Financial Institutions, and reforms are under way to strengthen it further,” the review says.
However, it also says the Korean authorities have more work to do to close gaps
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