16 April 2020 – Introduced loan program for brokerages

This item is sourced from COVID-19 Policy Watch co-ordinated by Policy. We are in the process of gathering further information and aligning taxonomies for these items.

Type of Intervention: Industry interventions
Sectors Involved: Financial markets and monetary policy
Level of Jurisdiction: National
Lead People/Agency:

Overview: The Bank of Korea announced it would offer loans directly to banks, brokerages, and insurers for up to six months, requiring AA- rated or above bonds as collateral.

The program is worth 10 trillion won (US $ 8 billion), and will run for three months, effective May 4.
Full details here: http://www.koreaherald.com/view.php?ud=20200416000909&np=1&mp=1