Financial Services Commission Meets with Card and Capital Companies to Review Funding Trends

Concerns Over Funding Crunch Grow, Meeting Held
Prudent Management Essential

[Asia Economy Reporter Sim Nayoung] As concerns over liquidity tightening centered on the short-term bond market grew, financial authorities met with the credit finance industry on the 25th to check funding trends.

On this day, the Financial Services Commission (FSC) met with officials from the Financial Supervisory Service, the Korea Federation of Credit Finance Companies, credit card companies, and capital companies to review the status of credit finance bonds and commercial papers (CP). They also emphasized that due to recent interest rate hikes and volatility in the funding market, managing liquidity and asset soundness is essential.

An FSC official stated, "Today's meeting was an opportunity to check the funding trends of credit card companies and capital companies. Going forward, financial authorities will closely monitor changes in the financial market and promptly implement necessary measures to stabilize the market." The attendees also agreed on the importance of continuous communication and joint efforts between financial authorities and the financial sector to stabilize the market by mobilizing all available resources.