Sending time2020-12-23 17:02
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Year-end conference “It is necessary to collect opinions on the application of DSR by borrowers for next year…Independence of financial supervision is under review”
(Seoul = Yonhap News) Reporter Lim Su-jeong Kim Yeon-sook Kim Da-hye = Financial Supervisory Commissioner Yoon Seok-heon announced on the 23rd that he will maintain the total household debt management system ordered by the end of the year.
Director Yoon made such a statement at the year-end conference with the entrance reporters held online (non-face-to-face).
He added, “Household debt is tense and monitored as there are areas that can lead to system risk.”
In terms of the possibility of applying the total debt repayment ratio (DSR) per borrower next year, he said, “As some are concerned, it will not cause side effects by introducing DSR regulations suddenly,” he said. “I will fully collect opinions from media and experts.”
In the context of risk management, financial authorities believe that the banking sector should reduce dividends to increase its ability to absorb losses.
Director Yoon said, “We are still in coordination with the financial sector, but I think the dividend payout ratio will be between 15 and 25%,” he said.
Regarding the stock market, which is hitting a record high every day, he said, “If you look at the sluggishness of the real economy and excess liquidity caused by Corona 19, the volatility of the stock market is very high.”
He added, “There is a need to approach from a long-term perspective rather than a short-term perspective.”
The financial supervisory system, which is currently divided into the Financial Services Commission and the Financial Supervisory Service, is leading to consumer damage.
Director Yoon said, “We are considering various alternatives regarding the need for independence from the Financial Supervisory Service (FSS).”
Director Yoon said earlier that he would submit the’Financial Supervisory Service Independence Plan’ to the National Assembly at the National Assembly audit, and continued his intentions on this day, saying, “There is a need to reorganize the supervisory system.”
According to the current Financial Services Commission Act, the Financial Services Commission oversees financial policy and financial supervision. Among them, the Financial Supervisory Service is entrusted with the duties and powers of financial company inspection, supervision, and administrative sanctions.
Director Yoon diagnosed that “currently occurring financial accidents such as the East Asian crisis and the private equity crisis show a specific type.” “Risks are created in the process of the government’s efforts to foster the financial industry, and the risks are eventually leading to consumer damage.” did.
“Under the dual supervisory system, the responsibility between the supervisory policy (Financial Commission) and the execution (FSS) becomes unclear,” he criticized. “This is why post-improvement is not properly improved and the financial supervision is inefficient.”
Regarding the financial industry policy and supervisory policy that the Financial Services Commission is currently in charge of, he emphasized that “the mutual check relationship must be maintained” and “in other words, the financial supervisor must maintain a minimum of independence.”
Regarding the private equity crisis, he apologized, saying, “As a person in charge of financial supervision, it is unmatched to regret,” but even though the private equity market has grown significantly due to deregulation, it was defined as an incident that caused consumer damage due to insufficient supervision .
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2020/12/23 17:02 sent