Some highlights of the law include (1) increase in capitalization; (2) authority to issue our own debt instruments; (3) wider supervision to include not only banks but also money service institutions, credit granting businesses, and payment system operators; (4) authority to prescribe minimum risk-based capital adequacy ratios; and (5) protection of concerned BSP personnel against lawsuits arising from the conduct of the BSP’s financial regulation duties.
Ben S Bernanke: The policy response to the crisis in Korea and other emerging market economies Speech (via video recording) by Mr Ben S Bernanke, Chairman of the Board of Governors of the Federal Reserve System, at the Bank of Korea’s International Conference “The changing role of central banks”, Seoul, 30 May 2010.