South Korean watchdog voices support for Basel III

05/21/2010 | (subscription required)

Jangyung Lee, senior deputy governor of the Financial Supervisory Service of South Korea, said the country's banks have little exposure to high-risk securitisations and other investments, but the regulator supports the Basel III reforms. "As investment banking takes a firm hold in local markets, and investment in securitised assets increases, I believe prudent capital rules for risk activities will pay off," Lee said in reference to tough measures proposed by the Basel Committee on Banking Supervision.

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