Korea Urges Banks to Boost Liquidity as Europe Debt Storm Brews
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South Korea urged its banks to boost foreign-currency liquidity amid concern they remain vulnerable to the financial storm brewing in Europe, even after more than a decade of reform following an international bailout.
Lenders need to look beyond the U.S. and Europe and diversify their funding into emerging markets such as the Middle East to prepare for a global crisis, Financial Services Commission Chairman Kim Seok Dong told chief executive officers of firms including Kookmin Bank and Woori Bank in Seoul today.