S. Korea extends duration of eased liquidity rules for banks over virus
SEOUL, Aug. 26 (Yonhap) -- South Korea's financial regulator said Wednesday it has decided to extend the duration of eased liquidity rules for banks by six months to ensure financial institutions can provide much-needed funds to companies amid the coronavirus pandemic.
In April, the Financial Services Commission lowered the foreign exchange liquidity coverage ratio (LCR) for banks to 70 percent from 80 percent.
The move helped stabilize the currency market roiled by the COVID-19 pandemic, and provide liquidity to companies.

This file photo, taken April 1, 2020, shows a notice on financial aid to coronavirus-hit firms at a bank office in Seoul. (Yonhap)
The eased liquidity rules had been scheduled to end in September, but the commission extended the scheme to until the end of March.
Local financial institutions have been required to hold an adequate amount of foreign currency assets to get over short-term liquidity disruptions.
The foreign exchange LCR is measured as high-quality liquid foreign assets to projected net cash outflows over 30 days.
South Korea has taken series of steps to stem market turmoil and provide a buffer against the fallout from the COVID-19 outbreak.
entropy@yna.co.kr
(END)
-
Nuclear envoys of S. Korea, U.S., Japan condemn N. Korea's stipulation of nuclear policy
-
BTS' Jungkook to drop 2nd solo single
-
Opposition leader Lee again proposes talks with President Yoon
-
BTS' Jungkook to release first solo album 'Golden'
-
Unification ministry uses metaverse to recreate hometowns of elderly S. Koreans hailing from North
-
Unification ministry uses metaverse to recreate hometowns of elderly S. Koreans hailing from North
-
Police launch belated probe into another teacher's suicide after parental harassment
-
(LEAD) S. Korea's Coast Guard apprehends 22 Chinese after illegal entry attempt
-
79 pct of young S. Koreans agree on need to improve ties with Japan: poll
-
Memorials commemorating Itaewon crowd crush to be erected at accident site
-
Defense ministry warns N. Korea will face end of regime in event of nuclear use attempt
-
N. Korea slams U.S. over Pentagon document calling regime 'persistent' threat
-
(Asiad) S. Korea beat 10-man Uzbekistan in men's football semis, reach brink of 3rd straight gold
-
N. Korea intensifying cyber attacks against S. Korean shipbuilders: spy agency
-
(LEAD) S. Korea, Japan to hold 'strategic dialogue' for 1st time in nine years