(Seoul = Yonhap Infomax) Reporter Jeong Ji-seo = The financial authorities will temporarily ease liquidity restrictions on life insurers until the end of the year.
The Financial Services Commission announced on the 3rd that it will temporarily relax the liquidity evaluation criteria until the end of the evaluation in December so that insurance companies can actively respond to capital calls from the bond market stabilization fund (referred to here hereafter as the bond fund). .
The financial authorities met with the life insurance industry at the Insurance Research Institute on the same day to check the financial market and announced a plan to ease restrictions on liquidity.
According to the relief plan, the liquidity index will be raised by one grade in the RAAS of insurance companies in the future.
In addition, when regulating the liquidity ratio of insurance companies, it is decided to facilitate the expansion of the scope of recognition of liquid assets.
Earlier, in a meeting with the non-life insurance industry on the 28th of last month, the FSC decided to expand the scope of recognition of liquid assets, which are assets with a maturity of less than three months.
The FSC intends to review the insurance industry supervisory regulation enforcement rules within this month to promptly proceed with measures to ease liquidity regulations.
The life insurance industry said at a meeting on the same day that the number of cancellations of savings type insurance had increased due to the increase in interest rates on deposits and savings accounts, and that they were in a position where they had to sell their bonds inevitably to return the reserves to subscribers.
In response, the financial authorities emphasized that insurance companies were aware of the growing demand for liquid assets, but were encouraged to refrain from selling bonds as much as possible to stabilize the money market and to actively strive to stabilize the market as an institutional investor.
Meanwhile, at the meeting on this day, Kyobo Life, Nonghyup Life, Linea Life, and Samsung Life Insurance were held.[032830]Shinhan Life, Hanwha Life[088350] officers present.
jsjeong@yna.co.kr
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This article was submitted to the Infomax financial information terminal at 14:17, two hours earlier.
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