Mortgage Lending in Korea : An Example of a Countercyclical Macroprudential Approach

Regulatory regimes are actively discussing macroprudential policy. Korea pursued a countercyclical macroprudential approach to prevent the overheating of mortgage lending and to minimize the risk of loan default. The Korean financial supervisory au...

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Bibliographic Details
Main Author:	Chang, Soon-taek
Format:	Policy Research Working Paper
Language:	English
Published:	2012
Subjects:	ACCESS TO CREDIT ACCESS TO FINANCING ADMINISTRATIVE POWER AMORTIZATION AMORTIZATION SCHEDULE AMOUNT OF LOAN AMOUNT OF LOANS ASSET CLASSIFICATION ASSET PRICES AUCTION AUCTION PROCEDURES BAD ASSETS BALANCE SHEET BANK ASSETS BANK FINANCING BANK FOR INTERNATIONAL SETTLEMENTS BANK LENDING BANK OF KOREA BANK PROFITABILITY BANKING INDUSTRY BANKING REGULATION BANKING SECTOR BANKING SUPERVISION BANKING SYSTEM BANKRUPTCY BANKS BID BORROWER BORROWING BORROWING COSTS BUILDING BLOCK APPROACH BUSINESS CYCLE BUSINESS LOANS CAPITAL ADEQUACY CAPITAL ADEQUACY REQUIREMENTS CAPITAL REQUIREMENT CENTRAL BANK COLLATERAL COMMERCIAL BANKS COMMUNITY CREDIT CONSUMER LOANS CREDIT ASSESSMENT CREDIT CARD CREDIT CARD ISSUERS CREDIT CARD RECEIVABLES CREDIT COOPERATIVES CREDIT EXPANSION CREDIT GROWTH CREDIT HISTORY CREDIT INFORMATION CREDIT INFORMATION REGISTRY CREDIT RATING CREDIT RATINGS CREDIT RISK CREDIT RISKS CREDIT UNIONS CREDITOR CREDITS DEBT DEBT BURDEN DEBT OBLIGATIONS DEBT REPAYMENT DELINQUENCY RATE DELINQUENCY RATES DEPOSIT DEPOSITS DISCRETIONARY POWER DISPOSITION DOMESTIC BANKS ECONOMIC CONDITIONS ECONOMIC COOPERATION ECONOMIC CRISIS ECONOMIC DIFFICULTIES ECONOMIC POLICIES EXCLUSION FINANCE COMPANIES FINANCE CORPORATION FINANCES FINANCIAL CORPORATION FINANCIAL CRISIS FINANCIAL DISTRESSES FINANCIAL INSTABILITY FINANCIAL INSTITUTION FINANCIAL INSTITUTIONS FINANCIAL MARKET FINANCIAL REGULATION FINANCIAL SERVICES FINANCIAL STABILITY FINANCIAL SYSTEM FINANCIAL SYSTEMS FISCAL POLICIES FIXED INTEREST FIXED INTEREST RATE FIXED INTEREST RATES GOVERNMENT INTERVENTION GRACE PERIOD HOLDING HOME MORTGAGE HOUSEHOLD DEBT HOUSEHOLD LENDING HOUSEHOLDS HOUSES HOUSING HOUSING DEMAND HOUSING FINANCE HOUSING LOAN HOUSING LOANS HOUSING MARKETS HOUSING POLICY HOUSING PRICES HOUSING SUPPLY INCOME TAX INDIVIDUAL CONSUMERS INFLATION INFORMATION SHARING INJUNCTION INSOLVENT INSTALLMENT INSTALLMENTS INSTRUMENT INSURANCE INTEREST RATE RISK INTERNATIONAL BANK INTERNATIONAL SETTLEMENTS INVESTING JURISDICTION LENDERS LENDING INSTITUTIONS LENDING LIMITS LENDING POLICY LEVEL OF RISK LEVERAGE LIQUIDITY LOAN LOAN ACCOUNT LOAN AGREEMENT LOAN AMOUNT LOAN APPLICATION LOAN DEFAULT LOAN DEFAULTS LOAN LOSS LOAN LOSS PROVISIONING LOAN LOSS PROVISIONS LOAN LOSSES LOAN MATURITY LOAN OBLIGATIONS LOAN PAYMENTS LOAN QUALITY LOAN REVIEWS LOAN SERVICING LOW INTEREST RATE LOW INTEREST RATES LOWER-INCOME BORROWERS MACROECONOMIC INSTABILITY MACROECONOMIC POLICY MARGIN REQUIREMENTS MARKET CONDITION MARKET INSTABILITY MARKET PRICE MARKET SHARE MARKET STRUCTURE MATURITIES MATURITY MATURITY EXTENSION MATURITY RESTRICTION MATURITY STRUCTURE METROPOLITAN AREAS MONETARY FUND MONETARY POLICY MORTGAGE MORTGAGE APPLICATIONS MORTGAGE CREDIT MORTGAGE DEBT MORTGAGE LENDING MORTGAGE LOAN MORTGAGE LOANS MORTGAGE MARKET MORTGAGE PRODUCTS MORTGAGE SERVICING MORTGAGES MUTUAL SAVINGS MUTUAL SAVINGS BANKS NATURAL DISASTER NON-PERFORMING LOANS OIL PRICES OUTSTANDING LOANS OVERSIGHT OF BANK PERSONAL CREDIT POLICY RESPONSE POSTAL SAVINGS PRIVATIZATION PROFITABILITY PROPERTY TAX PROVISIONING RULES PUBLIC CREDIT REAL ESTATE REAL PROPERTIES REAL PROPERTY RECESSION REDEMPTION REGISTRATION OF TITLE REGISTRY OFFICE REGULATORY REGIMES REMEDY RESERVE RESERVE RATIOS RESERVES RESIDENTIAL MORTGAGE RISK MANAGEMENT RISK OF LOAN SAVINGS SAVINGS BANK SAVINGS BANKS SECOND MORTGAGE SECURITIES SECURITIZATION SEIZURE SINGLE BORROWER SUPERVISORY AUTHORITY TAX BURDEN TAX SYSTEM TIME OF MATURITY TITLE TRANSFER OF OWNERSHIP TRANSPORT VALUE OF COLLATERAL
Online Access:	http://www-wds.worldbank.org/external/default/main?menuPK=64187510&pagePK=64193027&piPK=64187937&theSitePK=523679&menuPK=64187510&searchMenuPK=64187283&siteName=WDS&entityID=000158349_20101214082720 http://hdl.handle.net/10986/3989