SK FSS Liquidity Ratio Calculation

On Aug. 11, SK FSS proposed rules on calculation standards, reports.

  • SK FSS proposed Detailed regulations on supervision of mutual financial business.
  • Aim to establish liquidity ratio calculation standards and reflect them in business reports, given Dec. 29, 2024 effectiveness of liquidity ratio regulations.
  • Follows SK Law Center Dec. 2021 update of decree on credit union act, see #102451.
  • Also follows FSC Jan. 2022 finalize mutual finance supervision rules, see #112139.
  • Consultation Period
  • Comments to be received by Sep. 20, for planned effectiveness from Dec. 29, 2024.
  • Nov. 22, 2022 SK Law Center Final Rules
  • On Nov. 22, 2022, SK Law Center issued updated rules, effective from Dec. 29, 2024.
  • Document dated Nov. 14, 2022, received from SK Law Center Nov. 22, added Nov. 23.
  • Nov. 25, 2022 SK FSS Final Rules
  • On Nov. 25, 2022, SK FSS published the finalized regulations and a comparison table.

Regulators SK FSS; SK Law Center
Entity Types Auditor; Bank; CU
Reference PR 11/25/2022; PR 11/22/2022; RF 11/14/2022; CP, Form, PR, 8/11/2022; Reg, Notice 2022-1, 1/12/2022; Dec 32275, 12/28/2021;
Functions Accounting; Audit; Compliance; Financial; Legal; Operations; Reporting; Risk; Treasury; Underwriting
Countries South Korea
Category
State
Products Banking; Loan
Regions AP
Rule Type Final
Rule Date 8/11/2022
Effective Date 12/29/2024
Rule Id 145723
Linked to Rule :112139
Reg. Last Update 11/25/2022
Report Section International

Last substantive update on 11/30/2022