Although the Bank of Korea is neither a supervisory nor a regulatory authority, I have served as Co-Chair of the FSB-RCG for Asia, and other of our executives and department heads have also performed various activities. Particularly, we have promoted a clearer understanding of phenomena particular to Korea in the setting of the global financial regulations, thereby contributing to our nation’s interests.
At the BCBS, the Bank of Korea contributed to the inclusion of financial debentures issued by domestic specialized banks in high-quality liquid assets, and to the acceptance of Monetary Stabilization Account deposits as cash inflows. Our bank also contributed to representing the national interest by having domestic conditions considered appropriately in the application of credit conversion factors.