In the Bear Stearns case, the government's response was severely complicated by the lack of a clear statutory framework for dealing with such a situation. As I have suggested on other occasions, the Congress may wish to consider whether such a framework should be set up for a defined set of nonbank 3 institutions.
We will first push forward with short-term tasks, while pooling all of our wisdom to set up measures for restructuring the management system over the medium- to long-term horizon. 8 / 9  My fellow members of the Bank of Korea! Last year was a time in which we devoted strenuous efforts to respond to the coronavirus crisis.