Weekly e-Briefing 5. Korea’s role in the FSB

Korea’s role in the FSB

A special guest for FSC Weekly e-Briefing, Mr. Chin, Dong-Soo, the Chairman of Korea’s Financial Services Commission and the representative of Korea’s Financial Stability Board told Korea has been selected as the host of FSB Plenary Meeting in this October.
Following issues will  be deliberated at the FSB Plenary Meeting in Korea before final decisions are made by the leaders at the G-20 Summit in Seoul;1) Improving Basel committee regulations on capital liquidity 2) Reducing moral hazard of systematically important financial institution 3) Assessing improvement of compensation practices of financial institutions 4) Discussing future plans and schedules and monitoring the progress on the implementing international standards and strengthening financial cooperation.

As the chair of the G-20 Summit as well as a member of the FSB, Korea will make every efforts to play a mojor role in achieving consensus on financial reforms and setting improved international standards. See more from http://fsc.go.kr/eng/index.jsp

Press Release_January 9th

The FSC Chairman Chin Dong-Soo met Adair Turner, Chairman of UK’s FSA at the FSB plenary meeting in Basel, Switzerland, January 9. They basically agreed upon the revision of the MOU to expand exchange of information and personnel between the two organizations.