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Operational risks associated with bank compliance take on increasing importance in Korea
Proceedings report from the Korea Banking Risk Dialogue 2013, on the need of a proper risk appetite framework to drive clear articulation of a bank’s strategy and attitude towards risk.

Jul 18, 2013 | Research

Basel III implementation in Korea will commence on December 1, 2013, as the Financial Services Commission (FSC) looks to abide by the agreement reached with BCBS. FSC's banking supervision priorities are to manage risk from household debts, strengthen risk surveillance (regular stress test) and pursue prompt restructuring of ailing companies. The recent global financial crisis was caused by misalignment of market players' incentives and weak bank regulation and supervision. The conditions are very different in the current Korean banking sectors.

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Categories: Basel III, China, Operational Risk, Regulation, Risk and Regulation, South Korea
Keywords: Systemic Risk, Counterparty Risk, FSC, CCP, Portfolio Reconciliation, OTC Derivatives, ICAAP
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