Most Popular
-
1
Yoon sorry for shortcomings but insists policies were right
-
2
1 in 3 Koreans live alone, family types becoming diverse
-
3
S. Korea ‘strongly’ protests Japan’s claim over Dokdo in diplomatic bluebook
-
4
US 'incredibly concerned' about suspected NK-Iran military ties
-
5
Korea, Japan finance chiefs vow to tame rampant FX market volatility
-
6
Korean won weakens amid heightened uncertainty
-
7
Seoul says will cut power to porn festival planned on Han River
-
8
Sewol victims commemorated on tragedy's 10th anniversary
-
9
K-pop group's manager dismissed for setting up spycam in theater dressing room
-
10
Chanel, Louis Vuitton see muted growth in Korea
Korean banks to adopt new global rules on interest rate risk next year
By YonhapPublished : Dec. 20, 2018 - 09:13
South Korean banks will adopt new global rules on management and supervision of interest rate risk next year, the nation's financial watchdog said Thursday.
The so-called Interest Rate Risk in the Banking Book (IRRBB) capital requirements were introduced by the Basel Committee on Banking Supervision in 2016 to help banks better measure and control interest rate risk.
The new rules will replace the Basel Committee's 2004 rules on management and supervision of rate risk.
In a statement, the Financial Supervisory Service said it has been working with local banks to adopt the new rules in the middle of next year.
The new rules are expected to help banks better calculate rate risk under prescribed scenarios, the FSS said.
Under the new rules, local banks are expected to hold adequate capital and make the local banking system more stable, the FSS said. (Yonhap)
![[Today’s K-pop] BTS pop-up event to come to Seoul](http://res.heraldm.com/phpwas/restmb_idxmake.php?idx=642&simg=/content/image/2024/04/17/20240417050734_0.jpg&u=)