Republic of Korea Financial Sector Assessment Program : Detailed Assessment of Observance - Assessment of Observance of CPSS-IOSCO Principles for Financial Market Infrastructures--BOK-WIRE+ and KRX CCP
This report contains the assessments of the Bank of Korea (BOK)-wire+ and Korea exchange (KRX) central counterparty (CCP) based on the committee on payment and settlement systems (CPSS) - International Organization of Securities Commissions (IOSCO)...
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| Format: | Financial Sector Assessment Program (FSAP) |
| Language: | English en_US |
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World Bank, Washington, DC
2014
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/2014/09/20375604/korea-financial-sector-assessment-program http://hdl.handle.net/10986/20582 |
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okr-10986-20582 |
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| recordtype |
oai_dc |
| repository_type |
Digital Repository |
| institution_category |
Foreign Institution |
| institution |
Digital Repositories |
| building |
World Bank Open Knowledge Repository |
| collection |
World Bank |
| language |
English en_US |
| topic |
ACCOUNTING AUCTION AUDIT COMMITTEE AUDITS BANKING INSTITUTIONS BANKRUPTCY BENCHMARK STOCK BENEFICIARY BILATERAL NETTING BOND BOND TRADING BROKER BROKERS BUSINESS REGULATIONS BUSINESS RISKS CAPITAL MARKET CAPITAL MARKETS CAPITAL RATIO CASH MARKET CASH PAYMENTS CASH SETTLEMENT CENTRAL BANK CENTRAL BANKS CENTRAL SECURITIES DEPOSITORIES CENTRAL SECURITIES DEPOSITORY COLLATERAL COLLATERAL RISK COMMERCIAL BANK COMMERCIAL BANKS COMMODITIES COMMODITIES FUTURES COMMODITY COMPENSATION FUND COMPENSATION FUNDS CORPORATE BONDS CORPORATE DEBENTURES CORPORATE SECURITIES CREDIT EXPOSURES CREDIT LINE CREDIT LINES CREDIT LOSS CREDIT LOSSES CREDIT POLICIES CREDIT RATING CREDIT RISK CREDIT RISK MANAGEMENT CREDIT RISKS CREDITWORTHINESS CURRENCY CUSTODIAN BANKS CUSTODY DEBENTURES DEBT DEBTOR DEPOSIT DEPOSIT ACCOUNT DEPOSIT INSURANCE DERIVATIVES DERIVATIVES MARKET DERIVATIVES MARKETS DIRECT ACCESS DISCLOSURE OF INFORMATION DOMESTIC FINANCIAL MARKETS ECONOMIC DEVELOPMENT ELECTRONIC FUNDS ELIGIBLE COLLATERAL ENFORCEABILITY EXPOSURE EXPOSURES FINANCE CORPORATION FINANCIAL CRISIS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SHOCKS FINANCIAL STABILITY FINANCIAL SYSTEM FINANCIAL TRANSACTIONS FOREIGN BANKS FOREIGN COMPANIES FOREIGN CURRENCIES FOREIGN EXCHANGE FOREIGN EXCHANGE TRANSACTIONS FOREIGN SHARES FRAMEWORK FOR COLLATERAL FUTURES GOVERNMENT BOND GOVERNMENT BOND FUTURES GOVERNMENT BOND MARKET GOVERNMENT BONDS GOVERNMENT POLICIES GOVERNMENT SECURITIES HOLDING HOUSING BONDS HUMAN RESOURCES INFORMATION TECHNOLOGY INSOLVENCY PROCEEDINGS INSURANCE COMPANIES INSURANCE CORPORATION INTEREST RATE INTEREST RATE FUTURES INTEREST RATE SWAPS INTERNAL AUDIT INTERNATIONAL BONDS INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL STANDARDS INVESTMENT FUNDS INVESTMENT POLICY INVESTMENT STRATEGY ISSUANCE ISSUANCES JURISDICTION LEGAL FRAMEWORK LEGAL IMPEDIMENTS LEVEL OF CONFIDENCE LIQUIDATION LIQUIDITY LIQUIDITY FACILITIES LIQUIDITY FACILITY LIQUIDITY RISK LIQUIDITY RISKS LOAN LOCAL GOVERNMENT MARK TO MARKET MARKET CAPITALIZATION MARKET CONDITIONS MARKET EFFICIENCY MARKET FOR BOND MARKET FOR BONDS MARKET INFRASTRUCTURE MARKET INFRASTRUCTURES MARKET OVERSIGHT MARKET PARTICIPANTS MARKET REGULATION MARKET REGULATIONS MARKET RISKS MARKET STOCK MATURITIES MONETARY FUND MONETARY POLICY MONETARY STABILITY MONEY SETTLEMENTS NET DEBT OPERATIONAL RISK OPTION CONTRACTS OPTIONS FUTURES OWNERSHIP STRUCTURE PAYMENT FLOWS PAYMENT ORDERS PAYMENT SYSTEM PAYMENT SYSTEMS PAYMENTS SYSTEMS PRICE CHANGES PRIVATE SECTOR DEVELOPMENT REAL TIME GROSS SETTLEMENT REGULATORS REGULATORY FRAMEWORK REGULATORY STRUCTURE REPO REPO TRANSACTIONS REPOS RESERVES RISK CONTROL RISK FACTORS RISK MANAGEMENT RISK MANAGEMENT POLICIES RISK MANAGEMENT SYSTEM RISK MANAGEMENT SYSTEMS SECURITIES SECURITIES DEALERS SECURITIES MARKET SECURITIES TRANSACTIONS SETTLEMENT SETTLEMENT INFRASTRUCTURE SETTLEMENT INFRASTRUCTURES SETTLEMENT OBLIGATIONS SETTLEMENT OF FUNDS SETTLEMENT OF TRANSACTIONS SETTLEMENT PROCEDURES SETTLEMENT RISK SETTLEMENT SERVICE SETTLEMENT SERVICES SETTLEMENT SYSTEM SETTLEMENT SYSTEMS SHARE TRADING SHAREHOLDERS SHORT-TERM BONDS STATUTORY LAW STOCK INDEX STOCK INDEX FUTURE STOCK INDEX FUTURES STOCK MARKET STOCK MARKETS STOCK PRICE STOCKS SUPERVISORY AUTHORITIES SYSTEMIC RISK TAX TELECOMMUNICATIONS TRADING TRADING ACTIVITIES TRADING FLOOR TRADING VOLUME TRANSACTION TRANSPARENCY TREASURY TREASURY BONDS TREASURY STOCK TYPES OF INSTRUMENTS UNDERLYING ASSETS VALUE OF ASSETS VALUE PAYMENT SYSTEM VALUE TRANSFERS VOLATILITY WAREHOUSE |
| spellingShingle |
ACCOUNTING AUCTION AUDIT COMMITTEE AUDITS BANKING INSTITUTIONS BANKRUPTCY BENCHMARK STOCK BENEFICIARY BILATERAL NETTING BOND BOND TRADING BROKER BROKERS BUSINESS REGULATIONS BUSINESS RISKS CAPITAL MARKET CAPITAL MARKETS CAPITAL RATIO CASH MARKET CASH PAYMENTS CASH SETTLEMENT CENTRAL BANK CENTRAL BANKS CENTRAL SECURITIES DEPOSITORIES CENTRAL SECURITIES DEPOSITORY COLLATERAL COLLATERAL RISK COMMERCIAL BANK COMMERCIAL BANKS COMMODITIES COMMODITIES FUTURES COMMODITY COMPENSATION FUND COMPENSATION FUNDS CORPORATE BONDS CORPORATE DEBENTURES CORPORATE SECURITIES CREDIT EXPOSURES CREDIT LINE CREDIT LINES CREDIT LOSS CREDIT LOSSES CREDIT POLICIES CREDIT RATING CREDIT RISK CREDIT RISK MANAGEMENT CREDIT RISKS CREDITWORTHINESS CURRENCY CUSTODIAN BANKS CUSTODY DEBENTURES DEBT DEBTOR DEPOSIT DEPOSIT ACCOUNT DEPOSIT INSURANCE DERIVATIVES DERIVATIVES MARKET DERIVATIVES MARKETS DIRECT ACCESS DISCLOSURE OF INFORMATION DOMESTIC FINANCIAL MARKETS ECONOMIC DEVELOPMENT ELECTRONIC FUNDS ELIGIBLE COLLATERAL ENFORCEABILITY EXPOSURE EXPOSURES FINANCE CORPORATION FINANCIAL CRISIS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SHOCKS FINANCIAL STABILITY FINANCIAL SYSTEM FINANCIAL TRANSACTIONS FOREIGN BANKS FOREIGN COMPANIES FOREIGN CURRENCIES FOREIGN EXCHANGE FOREIGN EXCHANGE TRANSACTIONS FOREIGN SHARES FRAMEWORK FOR COLLATERAL FUTURES GOVERNMENT BOND GOVERNMENT BOND FUTURES GOVERNMENT BOND MARKET GOVERNMENT BONDS GOVERNMENT POLICIES GOVERNMENT SECURITIES HOLDING HOUSING BONDS HUMAN RESOURCES INFORMATION TECHNOLOGY INSOLVENCY PROCEEDINGS INSURANCE COMPANIES INSURANCE CORPORATION INTEREST RATE INTEREST RATE FUTURES INTEREST RATE SWAPS INTERNAL AUDIT INTERNATIONAL BONDS INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL STANDARDS INVESTMENT FUNDS INVESTMENT POLICY INVESTMENT STRATEGY ISSUANCE ISSUANCES JURISDICTION LEGAL FRAMEWORK LEGAL IMPEDIMENTS LEVEL OF CONFIDENCE LIQUIDATION LIQUIDITY LIQUIDITY FACILITIES LIQUIDITY FACILITY LIQUIDITY RISK LIQUIDITY RISKS LOAN LOCAL GOVERNMENT MARK TO MARKET MARKET CAPITALIZATION MARKET CONDITIONS MARKET EFFICIENCY MARKET FOR BOND MARKET FOR BONDS MARKET INFRASTRUCTURE MARKET INFRASTRUCTURES MARKET OVERSIGHT MARKET PARTICIPANTS MARKET REGULATION MARKET REGULATIONS MARKET RISKS MARKET STOCK MATURITIES MONETARY FUND MONETARY POLICY MONETARY STABILITY MONEY SETTLEMENTS NET DEBT OPERATIONAL RISK OPTION CONTRACTS OPTIONS FUTURES OWNERSHIP STRUCTURE PAYMENT FLOWS PAYMENT ORDERS PAYMENT SYSTEM PAYMENT SYSTEMS PAYMENTS SYSTEMS PRICE CHANGES PRIVATE SECTOR DEVELOPMENT REAL TIME GROSS SETTLEMENT REGULATORS REGULATORY FRAMEWORK REGULATORY STRUCTURE REPO REPO TRANSACTIONS REPOS RESERVES RISK CONTROL RISK FACTORS RISK MANAGEMENT RISK MANAGEMENT POLICIES RISK MANAGEMENT SYSTEM RISK MANAGEMENT SYSTEMS SECURITIES SECURITIES DEALERS SECURITIES MARKET SECURITIES TRANSACTIONS SETTLEMENT SETTLEMENT INFRASTRUCTURE SETTLEMENT INFRASTRUCTURES SETTLEMENT OBLIGATIONS SETTLEMENT OF FUNDS SETTLEMENT OF TRANSACTIONS SETTLEMENT PROCEDURES SETTLEMENT RISK SETTLEMENT SERVICE SETTLEMENT SERVICES SETTLEMENT SYSTEM SETTLEMENT SYSTEMS SHARE TRADING SHAREHOLDERS SHORT-TERM BONDS STATUTORY LAW STOCK INDEX STOCK INDEX FUTURE STOCK INDEX FUTURES STOCK MARKET STOCK MARKETS STOCK PRICE STOCKS SUPERVISORY AUTHORITIES SYSTEMIC RISK TAX TELECOMMUNICATIONS TRADING TRADING ACTIVITIES TRADING FLOOR TRADING VOLUME TRANSACTION TRANSPARENCY TREASURY TREASURY BONDS TREASURY STOCK TYPES OF INSTRUMENTS UNDERLYING ASSETS VALUE OF ASSETS VALUE PAYMENT SYSTEM VALUE TRANSFERS VOLATILITY WAREHOUSE International Monetary Fund World Bank Republic of Korea Financial Sector Assessment Program : Detailed Assessment of Observance - Assessment of Observance of CPSS-IOSCO Principles for Financial Market Infrastructures--BOK-WIRE+ and KRX CCP |
| geographic_facet |
East Asia and Pacific Korea, Republic of |
| description |
This report contains the assessments of
the Bank of Korea (BOK)-wire+ and Korea exchange (KRX)
central counterparty (CCP) based on the committee on payment
and settlement systems (CPSS) - International Organization
of Securities Commissions (IOSCO) principles for financial
market infrastructures (PFMI). The assessment was undertaken
in the context of the international monetary fund's
(IMF's) financial sector assessment program (FSAP) to
the Republic of Korea in April and July 2013. The objective
of the assessment has been to identify potential risks
related to the FMIs that may affect financial stability. The
scope of the assessment includes two main FMIs as well as
the authorities in Korea responsible for regulation,
supervision, and oversight of FMIs. The BOK-wire+ and the
KRX CCP are assessed against all relevant principles of the
PFMI. The authorities, being the BOK, the financial services
committee (FSC), and the financial supervisory service
(FSS), are assessed using the responsibilities for
authorities of FMIs. This report provides introduction;
methodology and information used for the assessment;
overview of the payment, clearing, and settlement landscape;
and key findings follow up for the BOK-wire+; key findings
and follow-up for the KRX-CCP; key findings and follow up
for authorities; recommendations for the BOK-wire+;
recommendations for the KRX-CCP; and recommendations for authorities. |
| format |
Economic & Sector Work :: Financial Sector Assessment Program (FSAP) |
| author |
International Monetary Fund World Bank |
| author_facet |
International Monetary Fund World Bank |
| author_sort |
International Monetary Fund |
| title |
Republic of Korea Financial Sector Assessment Program : Detailed Assessment of Observance - Assessment of Observance of CPSS-IOSCO Principles for Financial Market Infrastructures--BOK-WIRE+ and KRX CCP |
| title_short |
Republic of Korea Financial Sector Assessment Program : Detailed Assessment of Observance - Assessment of Observance of CPSS-IOSCO Principles for Financial Market Infrastructures--BOK-WIRE+ and KRX CCP |
| title_full |
Republic of Korea Financial Sector Assessment Program : Detailed Assessment of Observance - Assessment of Observance of CPSS-IOSCO Principles for Financial Market Infrastructures--BOK-WIRE+ and KRX CCP |
| title_fullStr |
Republic of Korea Financial Sector Assessment Program : Detailed Assessment of Observance - Assessment of Observance of CPSS-IOSCO Principles for Financial Market Infrastructures--BOK-WIRE+ and KRX CCP |
| title_full_unstemmed |
Republic of Korea Financial Sector Assessment Program : Detailed Assessment of Observance - Assessment of Observance of CPSS-IOSCO Principles for Financial Market Infrastructures--BOK-WIRE+ and KRX CCP |
| title_sort |
republic of korea financial sector assessment program : detailed assessment of observance - assessment of observance of cpss-iosco principles for financial market infrastructures--bok-wire+ and krx ccp |
| publisher |
World Bank, Washington, DC |
| publishDate |
2014 |
| url |
http://documents.worldbank.org/curated/en/2014/09/20375604/korea-financial-sector-assessment-program http://hdl.handle.net/10986/20582 |
| _version_ |
1764445792023609344 |
| spelling |
okr-10986-205822021-04-23T14:03:56Z Republic of Korea Financial Sector Assessment Program : Detailed Assessment of Observance - Assessment of Observance of CPSS-IOSCO Principles for Financial Market Infrastructures--BOK-WIRE+ and KRX CCP International Monetary Fund World Bank ACCOUNTING AUCTION AUDIT COMMITTEE AUDITS BANKING INSTITUTIONS BANKRUPTCY BENCHMARK STOCK BENEFICIARY BILATERAL NETTING BOND BOND TRADING BROKER BROKERS BUSINESS REGULATIONS BUSINESS RISKS CAPITAL MARKET CAPITAL MARKETS CAPITAL RATIO CASH MARKET CASH PAYMENTS CASH SETTLEMENT CENTRAL BANK CENTRAL BANKS CENTRAL SECURITIES DEPOSITORIES CENTRAL SECURITIES DEPOSITORY COLLATERAL COLLATERAL RISK COMMERCIAL BANK COMMERCIAL BANKS COMMODITIES COMMODITIES FUTURES COMMODITY COMPENSATION FUND COMPENSATION FUNDS CORPORATE BONDS CORPORATE DEBENTURES CORPORATE SECURITIES CREDIT EXPOSURES CREDIT LINE CREDIT LINES CREDIT LOSS CREDIT LOSSES CREDIT POLICIES CREDIT RATING CREDIT RISK CREDIT RISK MANAGEMENT CREDIT RISKS CREDITWORTHINESS CURRENCY CUSTODIAN BANKS CUSTODY DEBENTURES DEBT DEBTOR DEPOSIT DEPOSIT ACCOUNT DEPOSIT INSURANCE DERIVATIVES DERIVATIVES MARKET DERIVATIVES MARKETS DIRECT ACCESS DISCLOSURE OF INFORMATION DOMESTIC FINANCIAL MARKETS ECONOMIC DEVELOPMENT ELECTRONIC FUNDS ELIGIBLE COLLATERAL ENFORCEABILITY EXPOSURE EXPOSURES FINANCE CORPORATION FINANCIAL CRISIS FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL SECTOR FINANCIAL SERVICES FINANCIAL SHOCKS FINANCIAL STABILITY FINANCIAL SYSTEM FINANCIAL TRANSACTIONS FOREIGN BANKS FOREIGN COMPANIES FOREIGN CURRENCIES FOREIGN EXCHANGE FOREIGN EXCHANGE TRANSACTIONS FOREIGN SHARES FRAMEWORK FOR COLLATERAL FUTURES GOVERNMENT BOND GOVERNMENT BOND FUTURES GOVERNMENT BOND MARKET GOVERNMENT BONDS GOVERNMENT POLICIES GOVERNMENT SECURITIES HOLDING HOUSING BONDS HUMAN RESOURCES INFORMATION TECHNOLOGY INSOLVENCY PROCEEDINGS INSURANCE COMPANIES INSURANCE CORPORATION INTEREST RATE INTEREST RATE FUTURES INTEREST RATE SWAPS INTERNAL AUDIT INTERNATIONAL BONDS INTERNATIONAL FINANCIAL MARKETS INTERNATIONAL STANDARDS INVESTMENT FUNDS INVESTMENT POLICY INVESTMENT STRATEGY ISSUANCE ISSUANCES JURISDICTION LEGAL FRAMEWORK LEGAL IMPEDIMENTS LEVEL OF CONFIDENCE LIQUIDATION LIQUIDITY LIQUIDITY FACILITIES LIQUIDITY FACILITY LIQUIDITY RISK LIQUIDITY RISKS LOAN LOCAL GOVERNMENT MARK TO MARKET MARKET CAPITALIZATION MARKET CONDITIONS MARKET EFFICIENCY MARKET FOR BOND MARKET FOR BONDS MARKET INFRASTRUCTURE MARKET INFRASTRUCTURES MARKET OVERSIGHT MARKET PARTICIPANTS MARKET REGULATION MARKET REGULATIONS MARKET RISKS MARKET STOCK MATURITIES MONETARY FUND MONETARY POLICY MONETARY STABILITY MONEY SETTLEMENTS NET DEBT OPERATIONAL RISK OPTION CONTRACTS OPTIONS FUTURES OWNERSHIP STRUCTURE PAYMENT FLOWS PAYMENT ORDERS PAYMENT SYSTEM PAYMENT SYSTEMS PAYMENTS SYSTEMS PRICE CHANGES PRIVATE SECTOR DEVELOPMENT REAL TIME GROSS SETTLEMENT REGULATORS REGULATORY FRAMEWORK REGULATORY STRUCTURE REPO REPO TRANSACTIONS REPOS RESERVES RISK CONTROL RISK FACTORS RISK MANAGEMENT RISK MANAGEMENT POLICIES RISK MANAGEMENT SYSTEM RISK MANAGEMENT SYSTEMS SECURITIES SECURITIES DEALERS SECURITIES MARKET SECURITIES TRANSACTIONS SETTLEMENT SETTLEMENT INFRASTRUCTURE SETTLEMENT INFRASTRUCTURES SETTLEMENT OBLIGATIONS SETTLEMENT OF FUNDS SETTLEMENT OF TRANSACTIONS SETTLEMENT PROCEDURES SETTLEMENT RISK SETTLEMENT SERVICE SETTLEMENT SERVICES SETTLEMENT SYSTEM SETTLEMENT SYSTEMS SHARE TRADING SHAREHOLDERS SHORT-TERM BONDS STATUTORY LAW STOCK INDEX STOCK INDEX FUTURE STOCK INDEX FUTURES STOCK MARKET STOCK MARKETS STOCK PRICE STOCKS SUPERVISORY AUTHORITIES SYSTEMIC RISK TAX TELECOMMUNICATIONS TRADING TRADING ACTIVITIES TRADING FLOOR TRADING VOLUME TRANSACTION TRANSPARENCY TREASURY TREASURY BONDS TREASURY STOCK TYPES OF INSTRUMENTS UNDERLYING ASSETS VALUE OF ASSETS VALUE PAYMENT SYSTEM VALUE TRANSFERS VOLATILITY WAREHOUSE This report contains the assessments of the Bank of Korea (BOK)-wire+ and Korea exchange (KRX) central counterparty (CCP) based on the committee on payment and settlement systems (CPSS) - International Organization of Securities Commissions (IOSCO) principles for financial market infrastructures (PFMI). The assessment was undertaken in the context of the international monetary fund's (IMF's) financial sector assessment program (FSAP) to the Republic of Korea in April and July 2013. The objective of the assessment has been to identify potential risks related to the FMIs that may affect financial stability. The scope of the assessment includes two main FMIs as well as the authorities in Korea responsible for regulation, supervision, and oversight of FMIs. The BOK-wire+ and the KRX CCP are assessed against all relevant principles of the PFMI. The authorities, being the BOK, the financial services committee (FSC), and the financial supervisory service (FSS), are assessed using the responsibilities for authorities of FMIs. This report provides introduction; methodology and information used for the assessment; overview of the payment, clearing, and settlement landscape; and key findings follow up for the BOK-wire+; key findings and follow-up for the KRX-CCP; key findings and follow up for authorities; recommendations for the BOK-wire+; recommendations for the KRX-CCP; and recommendations for authorities. 2014-11-19T21:51:31Z 2014-11-19T21:51:31Z 2014-09 http://documents.worldbank.org/curated/en/2014/09/20375604/korea-financial-sector-assessment-program http://hdl.handle.net/10986/20582 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo/ World Bank, Washington, DC Economic & Sector Work :: Financial Sector Assessment Program (FSAP) Economic & Sector Work East Asia and Pacific Korea, Republic of |