The Financial Services Commission announced on the 11th that it held an inspection and communication meeting on financial market issues at the Seoul Government Complex to check △real estate PF risk, △retirement pension-related fund movement status, △foreign currency liquidity situation at securities companies, and △overseas real estate alternative investment risks.
| ▲ The delinquency rate of real estate PF loans in the financial sector has risen again. |
The meeting was chaired by Kim So-young, Vice Chairman of the Financial Services Commission. In attendance were standing members of the Financial Services Commission, the Director of the Financial Policy Bureau, the Director of the Industry Bureau, the Director of the Capital Bureau, the Financial Supervisory Service’s Deputy Director of Banking for Small and Medium Business, the Director of the Financial Market Stability Department, and the directors of each industry.
According to the Financial Services Commission, the delinquency rate of real estate PF loans in the financial sector was 2.42% as of the end of September, up 0.25 percentage points from the end of June (2.17%). Among these, the PF delinquency rate in the securities industry decreased by 3.43 percentage points, but the corresponding figure in the mutual financial sector increased by 3.05 percentage points.
Regarding this, the Financial Services Commission said, “The decline in the delinquency rate of securities companies is evaluated as a result of risk management efforts,” and “Mutual finance is a result of delinquency reflected in some large-scale businesses, and considering the size of capital and provisions, it is likely to expand into a risk to the soundness of the industry.” “is low,” he said.
It was analyzed that the possibility of large-scale fund transfers related to year-end retirement pensions was low. Retirement pensions usually move a lot at the end of each quarter, especially at the end of the year, and this has been pointed out as a factor in the financial market instability as financial companies compete in interest rates.
According to the Financial Services Commission, the average interest rate for principal and interest guaranteed products confirmed in December was 4.13%, a slight decrease from last month (4.32%).
The Financial Services Commission said, “There is no competition at high interest rates to secure funds,” and evaluated, “It is not very likely that financial market imbalance will occur due to concentration of funds or liquidity risk due to fund outflow from individual companies will become a reality.”
In addition, it is expected that the damage suffered by domestic financial companies will be small despite the decline in overseas real estate prices. According to the Financial Services Commission, the total amount of alternative investment in overseas real estate by domestic financial companies was 55.8 trillion won, or only 0.8% of the total assets of financial companies.
It was found that financing of credit finance companies is also gradually improving.
The Financial Services Commission expressed its intention not to let down its guard in the future.
Vice Chairman Kim said, “Thanks to technological development, the connectivity of the financial market has increased and the speed at which risks spread has become faster than in the past. In order to stabilize the financial market, it is necessary to respond in advance without neglecting all risk factors that can be identified.” “There is,” he emphasized. Reporter Kim Hwan
2023-12-11 07:58:38
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