[Asia Economy Reporter Jang Sehee] The Bank of Korea has decided not to release the regularly published 'Financial Stability Status' report. This decision was made based on the judgment that it is difficult to accurately assess the financial stability situation amid the spread of the novel coronavirus infection (COVID-19).
On the 25th, the Bank of Korea stated, "Due to the high uncertainty and volatility of the current financial and economic situation, and the expectation that the financial system will be affected with a time lag, it is difficult to accurately assess the financial stability status at this point."
According to the Bank of Korea Act, the Bank submits the Financial Stability Report to the National Assembly in June and December, and prepares and publishes separate Financial Stability Status materials in March and September. As originally planned, the Financial Stability Status report was scheduled to be released on the 26th.
The Bank of Korea added, "Going forward, as the impact of the COVID-19 spread and policy authorities' responses on the financial system becomes clearer, we will prepare and provide materials as needed even before the next Financial Stability Review Meeting."
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