South Korea

Household loan growth has slowed as borrowing costs rose, according to Yonhap.   Banks in South Korea are expected to further ease lending in the third quarter, even as credit risks are expected to rise, reports Yonhap, based on a survey conducted by the Bank of Korea (BOK).   An index gauging banks’ attitude toward home-backed loans and unsecured household lending stood at 14 and 19, respectively, for the July-September period, according to the findings of a poll of officials handling credit affairs at financial institutions (FIs)—which include 18 banks.   A reading above zero means the number of lenders that will ease lending surpasses that of banks planning to tighten lending criteria. 

Fast-rising interest rates are expected to hit borrowers’ capacity to repay loans.

Average interest rate for new deposits rose 15 basis points from April.

Sources said that the deals, worth billions of won, were executed over the past year.

One in four experts warned of possible shocks.

Fee and commission income shrank by over 230% during the fiscal year.

High smartphone and internet use drive its use.

Corporate lending rose to its second-highest monthly figure ever.

The rising rates have spawned worries in households' repayment abilities.

There has been reports of unauthorized payments from its gift cards.

Bad loans to SMEs are on an uptick.

But increased competition in lending may give rise to risks in the long-term.

IBK sold fraudulent funds of Discovery Asset Management, according to FSC.

The loan rate averaged 3.63% in December, 0.12 ppt higher than a month earlier.

The second phase of the test will be carried out until 22 June.

The country’s top regulator shared plans to enact a new law on the matter.