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"We have reached a political consensus on the creation of a European financial supervisory framework".
The new financial supervisory commission, which has had responsibility for the funds since April 1st, appears dumbfounded.
A single financial supervisory body is fine, it says so long as its own financial-policy bureau assumes the job.
The central bank and the financial supervisory authorities have, in fact, run different stress tests, so the results can be compared.
On November 8th the financial supervisory service (FSS) forced South Korea's second-largest commercial bank, Hanvit, to merge with three smaller banks.
For example, last month the Parliament's economic and monetary affairs committee called for a bigger transfer of financial supervisory powers from national governments to the Union.
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At the top of the structure sits the Financial Supervisory Commission (FSC), responsible for setting the rules for the financial industry.
"We expect increased momentum in implementing the next round of financial restructuring," said Lee Yong Keun, the chairman of the Financial Supervisory Commission.
First, all domestic banks must offer twelve online financial services by the end of 2015 (Financial Supervisory Commission 2015a).
The first wave required all banks to offer the online financial services listed in Table 1 by the end of 2015 (Financial Supervisory Committee 2015a).
For privately held companies, we largely used audited financial statements available through Korea's Financial Supervisory Service, to which we applied comparable market multiples.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com