Soaring bank interest rates… Financial authorities “I will look to see if there is a problem”

Chan-woo Lee, senior vice president of the Financial Supervisory Service, attends a meeting with vice presidents in charge of credit at eight commercial banks held at the National Federation of Banks in Seoul on the afternoon of the 19th. yunhap news

Amid public criticism of commercial banks’ rapid rate hikes, the financial authorities have begun to understand the current state of the bank’s interest rate calculation.

Chan-woo Lee, senior vice president of the Financial Supervisory Service, held a meeting with the vice presidents of credit in charge of eight commercial banks on the 19th and said, “I will receive (data) how individual banks calculate loan and receipt rates and see if there are any problems and whether they are reasonable and transparent. ” he said. He added, “(After review), we will review what measures we will take.”

Although no specific ‘action’ has been mentioned yet, the bank’s interest rate hike is made according to the principles of the market, and it is a statement of nuance that is different from the previous position that there is no special action to be taken.

After a meeting with commercial banks on the 9th, Financial Supervisory Service Chairman Jeong Eun-bo said, “We are carefully monitoring the bank loan interest rate increase from a supervisory level.” I drew a line.

In a remark on the same day, Senior Vice President Lee said, “Loan interest rates have continued to rise from the second half of the year due to the rise in market interest rates following the normalization of global monetary policy. “There is a point that the interest rate is falling short of the interest rate,” he said.

Chan-woo Lee, senior vice president of the Financial Supervisory Service, attends a meeting with vice presidents in charge of credit at eight commercial banks held at the National Federation of Banks in Seoul on the afternoon of the 19th. yunhap news

Senior Vice President Lee said, “The interest rate is determined autonomously in the market according to the conditions of supply and demand for funds, but the pricing and operation of banks must also be transparent and reasonable.” We need to carefully examine whether the calculation and operation of preferential interest rates are being faithfully carried out in accordance with the best standards, and if necessary, make improvements.”

Although the financial authorities emphasized that the principle of not directly intervening in interest rate decisions has not changed, it is interpreted as sending an indirect warning message to the financial sector by pointing out that banks should be wary of excessive rate hikes.

The Financial Supervisory Service (FSS) ordered that the right to demand a rate cut should be activated to alleviate the burden on financial consumers, especially during a period of rising interest rates. “There are still many shortcomings in the operation of the right to demand a rate cut,” said Senior Vice President Lee.

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