South Korea to ease FX rules to enhance liquidity situations

Finance ministry / Financial institution of Korea joint assertion:

• South
  Korea
  to ease FX
  rules to enhance liquidity situations

No additional particulars as but.

Right here we go, extra, by way of Reuters:

• “Strict rules restrain the effectivity of overseas
  change administration, and there’s a have to take into consideration
  worsened overseas change liquidity situations after current
  occasions,”
• ceiling of overseas change
  futures contracts will likely be raised to 75% of capital holdings for
  native banks and 375% for Seoul branches of overseas banks, from
  the present 50% and 250%, respectively.
• measures additionally embrace permitting corporations to take out loans
  in foreign currency and change the funds for the received, if
  they’re used for investing in services comparable to gear,
  property and land purchases.
• ministry mentioned it will implement the measures in a swift
  method and contemplate increasing them after reviewing the consequences.

This text was written by Aaron Cutchburt at www.ubaidahsan.com.



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