InfoAnda - SKorea announces plan to battle capital volatility

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

PAKISTAN | 20 August 2010
Obesity Among American Troops Doubles Since 2003 | 10 February 2009
Sun shares plummet after IBM talks collapse | Technology | | 6 April 2009

Arab League chief discusses unrest with Yemen | International | | 6 October 2009

Forum Views () Forum Replies ()

Read more with google mobile : SKorea announces plan to battle capital volatility

Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World SKorea announces plan to battle capital volatility By KELLY OLSEN,AP Business Writer - Sunday, June 13 Send IM Story Print SEOUL, South Korea – South Korea's financial authorities announced on Sunday proposed measures to help stabilize the country's currency and financial system and limit damage to the broader economy during times of financial volatility such as the 2008 global crisis. South Korea has suffered when international capital flows suddenly reverse during periods of turmoil, such as the 1997-98 Asian economic crisis and the 2008 meltdown, when investors take out their money and flee to assets _ often dollar-denominated _ perceived as safer. In both cases, South Korea saw capital rush out of the country. That caused the won to plunge and strongly crimped the ability of local banks and corporations with foreign currency loans to secure dollars to pay them back. The announced measures, which include limits on how much capital can be used in foreign exchange derivatives trading for both domestic and foreign banks, are meant to "curb excessive volatility of capital flows," the Ministry of Strategy and Finance, the Bank of Korea and the country's financial regulators said. "The past two financial crises highlighted the need for dealing with volatile capital flows," the government said. "Excessive capital inflows during boom periods and sudden outflows in times of bust created a severe financial crisis." Foreign bank branches in South Korea would be limited to investing 250 percent of their previous month's capital in foreign exchange derivatives contracts, which is down from their current average level of approximately 300 percent, the government said. The limit for domestic banks would be 50 percent. The new measures, which require approval by a presidential Regulatory Reform Committee, are targeted for implementation from the middle of next month and would be accompanied by a three-month grace period, according to Kim Yi-tae, director of the foreign exchange market division at the Ministry of Strategy and Finance. Current levels of foreign exchange derivatives contracts exceeding the limits can be maintained for a maximum of two years, he said. The measures also include reinforced rules on bank loans taken out in foreign currencies and strengthening the monitoring of capital flows. "Our target is to reduce system risks," Kim told reporters, adding that the measures are based on South Korea's experiences in previous crises. South Korea, which is the chair this year of the powerful Group of 20 leading economies, has taken the lead on calling for the creation of financial safety nets to protect countries that are buffeted by international capital flows. The South Korean won fell 25.7 percent in 2008 and then rose 8.2 percent last year amid extremely sharp swings within both years. Foreign exchange instability is a a huge risk for banks and companies in South Korea, which is a major exporting and importing economy, when it comes to investment planning and asset allocation. Recommend Send IM Story Print Related Articles Foxconn suicides inquiry to go public: report AFP - 2 hours 42 minutes ago SKorea announces plan to battle capital volatility AP - Sunday, June 13 Oil prices mixed after big gains this week AFP - Saturday, June 12 Wall Street rally pushes Asian markets higher AFP - Saturday, June 12 Global markets surge on upbeat growth prospects AFP - Friday, June 11 News Search Top Stories Belgium votes amid fears of a national split Obama sees Mideast 'progress' possible this year UN to slap fresh sanctions on Iran Iran says no talks on nuclear issue if sanctioned White House press legend quits amid Israel row More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Euro to hit dollar parity in 2011, if still exists: analyst Search for survivors in deadly US floods resumes Britain honours actress Zeta-Jones, F1 racer Coulthard Eurozone debt fears force France to pay higher rates Oil stops gushing from Gulf of Mexico well More Most Viewed » Hubble catches planet being devoured by its star The point about pain: New study sheds light on acupuncture Clashes as Israeli forces storm Gaza aid boat: Hamas TV Egypt unearths tomb of pharaonic army chief Physicists solve mystery of missing neutrinos More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

Other News on Sunday, 13 June 2010
UN reviewing Taliban, al-Qaida sanctions list
US teen sailor en route to French island: official
UN reviewing Taliban, al-Qaida blacklist
France plans to cut spending by 45 bln euros
Suspected Israeli spy arrested over Hamas killing |
5 Afghan police, 2 NATO servicemen die in blasts
Kaczynski narrows gap in race for Polish president |
France announces 45 bln euros in spending cuts by 2013
5 Afghan police, NATO serviceman die in blasts
Thousands of Italians march over austerity plan |
Swiss bus crash kills two in Canadian tour group |
Iraq rivals meet on government, no sign of breakthrough |
Kyrgyzstan government authorises deadly force to stem unrest
Pacy South Korea see off disappointing Greece
South Korea get first win of World Cup finals
Iran aid ships for Gaza awaiting ministry nod
Slovak ruling party gets most votes but no majority
Vuvuzelas stir online debate at World Cup
Foxconn suicide probe to be made public |
Lending constraints keep Europe central banks on alert
US urges Iran to free political prisoners, US hikers
Belgians vote after debate on splitting country |
Eurozone debt fears force France to pay higher rates
Ethnic riots kill 80 in Kyrgyzstan |
Iran crushing freedom, opposition says on poll anniversary
Spain, Portugal celebrate 25 years in European community
Slovak right wins vote |
Slovak ruling party top in vote but no majority: exit poll
UN reviewing Taliban, al-Qaida sanctions list
No damage reported from Japanese quake |
Report slams Pakistan for meddling in Afghanistan |
Iran's Guards warn opposition on vote anniversary |
Two bombs in Thai south kill one, wound 26 |
Suspected Israeli spy arrested over Hamas killing |
Minimum and maximum temperatures in Celsius
Powerful quake rattles Indian Ocean islands
Search for flood victims goes from frantic to grim
Critics urge brakes on Vietnam's high-speed rail
In bold move, Colorado alters teacher tenure rules
S.Koreans celebrate World Cup win over Greece
Japan finance minister promises spending review
Rescued US teen sailor vows to do it again
Hong Kong police smash illegal W.Cup betting ring
Johnson lashes out at England rugby players
Tycoon Ambani brothers to compete in India telecoms
India's Commonwealth Games face monsoon test
N.Korea's son 'could face ruinous inheritance'
Maori tattoos getting under the world's skin
In Italy, a university for Slow Food gastronomes
French tourists breathe new life into Iraq's past
Sandcastle dreams buoyed by World Cup
Price of popular Yemeni drug soars during World Cup
Activists cycle for two-wheeled revolution in Lebanon
M.I.A. steps from art underground to media spotlight |
Fifteen killed in Baghdad bank siege
Race to get Henry's boots to pitch: report
Swiss, Spanish diplomatic chiefs in Libya to end spat
Belgium votes amid fears of a national split
Twelve killed after bombing at Iraq central bank |
Georgia Teen Bitten By Shark In Florida
Afghan president visits Taliban spiritual home |
Ocean Gurus Lament Gulf Spill, Say Should Have Been Anticipated
Arab League chief visits Gaza Strip |
Lightning May Have Sparked NC Gasoline Fire
Chevron Pipeline Leaks 20,000 Gallons Of Crude Oil Into Utah Creek
Yemen security official and 2 soldiers killed in south |
Oil Container Washes Ashore Panama City Beach
Clash between Somalia police and soldiers kills 13 |
Woman Gives Birth On Board American Airlines Flight
As Oil Spill Spreads To Central Florida, So Do Protests Against BP
Spirit Airline Pilots Strike; Airline Future Uncertain
Egypt prepares new law for non-Muslims |
Senators Prepare for BP Oil Leak Moving Up Atlantic Coast
U.S. Markets Shake Off Weak Retail Sales, Finish Higher
Crews search for victims after Ark. floods kill 18
Japan asteroid probe on track to return to Earth
Surf up, beer on ice: Aussie fans enjoy home from home
Germany seek Aussie tonic for World Cup boost
'Substantial progress' in China-Taiwan trade talks
S.Korea tightens rules on foreign currency
SKorea announces plan to battle capital volatility
China warns local govt on investment agencies
Film '3 Idiots' sweeps annual Bollywood roadshow
2 more Japan theaters cancel dolphin hunt film
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01