Mgccc Jitters In Korea To Continue While The Government Will Try To Prevent A Bank Run menafn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from menafn.com Daily Mail and Mail on Sunday newspapers.
South Korea's financial services regulator has asked major commercial banks to prepare around $4 billion in financing to support a credit cooperative hit by customer withdrawals, two banking sources familiar with the matter said on Monday.
South Korea's financial services regulator has asked major commercial banks to prepare around $4 billion in financing to support a credit cooperative hit by customer withdrawals, two banking sources familiar with the matter said on Monday. An official at the Financial Services Commission confirmed that banks had been asked to prepare liquidity through repurchase-agreement facilities to aid MG Community Credit Cooperatives, but did not comment on the amount. Depositors were lining up last week to withdraw funds from a branch of MG Community Credit Cooperatives after local media reported a rise in non-performing loans tied to real estate projects.
South Korea s financial
services regulator has asked major commercial banks to prepare
around $4 billion in financing to support a credit cooperative
hit by customer withdrawals, two banking sources.
By Seunggyu Lim SEOUL (Reuters) - South Korea's financial services regulator has asked major commercial banks to prepare around $4 billion in financin.