ANNOUNCEMENT 27 Nov 2012In November 2012, the government of Republic of Korea announced a rule change for commercial cross-border financial flows.
NUMBER OF INTERVENTIONS
Ministry of Strategy and Finance Press Release, 27 November 2012: http://english.mosf.go.kr/pre/view.do?bcd=N0001&seq=3114
WTO-UNCTAD-OECD Ninth Report on G20 Trade and Investment Measures, mid-October 2012 to mid-May 2013: http://www.oecd.org/daf/inv/investment-policy/9thG20report.pdf
On 27 November 2012, the Ministry of Strategy and Finance of the Republic of Korea announced restrictions on the extent that banks can hold foreign exchange derivative positions, lowering the maximum to 30% of equity for domestic banks (down from 40%), and 150% of equity for branches of foreign banks (down from 200%). The measure took effect on 1 December 2012.