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Book Cover
Author International Monetary Fund. Monetary and Capital Markets Department.

Title Republic of Korea
Published Washington : International Monetary Fund, 2015
Online access available from:
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Description 1 online resource (42 pages)
Series IMF Staff Country Reports ; v. Country Report No. 15/5
IMF Staff Country Reports
Contents Cover; Contents; Glossary; Preface; EXECUTIVE SUMMARY; TABLES; 1. Recommendations; INTRODUCTION; A. Past Experience in Crisis Management; B. Korean Financial System; BOXES; 1. Policy Measures Initiated in the Wake of the 2008 Global Ffinancial Crisis; LEGAL AND INSTITUTIONAL FRAMEWORK FOR CRISIS MANAGEMENT; A. The Framework; B. Interagency Cooperation and Coordination; 2. Interconnectedness of Authorities' Decision-Making Bodies; CRISIS PREPAREDNESS AND PREVENTION FRAMEWORK; A. Systemic Risk and Financial Stability Assessment; B. Financial Safety Net
3. Deposit Insurance Protection (at end-2012)4. Deposit Insurance Premium Rates per Financial Sector Segment; C. Supervisory Framework for Problem Banks; 5. Corrective Action Framework for Banks and Bank Holding Companies; D. Contingency Plans; 2. Contingency Planning in Korea; CRISIS MANAGEMENT FRAMEWORK; A. Systemic Liquidity in Money and Securities Markets; B. Deposit Insurance and Guarantee; C. Public Financial Support; 3. Use of Public Funds to Support the Financial System; FINANCIAL INSTITUTIONS RESOLUTION; A. Resolution Measures for Insolvent Banks; B. The Least Cost Principle
Summary Korea experienced significant financial distress in the late 1990s along with some of its Asianneighbors. The authorities' experience in handling this crisis and the experience in handling the fallout from the global financial crisis in 2007-08 helped them establish a broad crisis management framework in Korea. Improving and formalizing the framework for crisis management would help preserve and build upon institutional memory. Authorities can consider formally setting up an apex forum for leading the inter-agency cooperation and coordination work on crisis preparedness and crisis management. W
Notes C. Systemic ImplicationsAPPENDIX I. FINANCIAL SYSTEM
Print version record
Subject International Monetary Fund -- Korea.
Banks and banking -- State supervision -- Korea.
Crisis management -- Economic aspects -- Law and legislation -- Korea.
Crisis management -- Economic aspects -- Korea.
Deposit insurance -- Risk management -- Korea.
Financial crises -- Korea -- Management.
Financial risk management -- Korea.
Korea -- Economic policy.
Form Electronic book
ISBN 1498327796