FSC Korea published a notification about the list of domestic systemically important banks, or D-SIBs, for 2021. It also announced that fifteen banks and eight bank holding companies will begin to gradually implement Basel III credit risk framework from the end of June 2020. Additionally, Standard Chartered Korea, Kakao Bank, and K Bank will begin to implement Basel III credit risk framework beginning in January 2023. Domestic banks and bank holding companies were asked to notify the authorities, by the end of May, about their preferred date to begin the implementation. The early implementation of Basel III credit risk framework is expected to boost the capital adequacy ratio of domestic banks and bank holding companies.
Keywords: Asia pacific, Korea, Banking, D-SIBs, Credit Risk, Basel, Implementation Timeline, Systemic Risk, Regulatory Capital, FSC
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