02241cas a2200241 a 4500 AALejournalIMF020889 230101c9999 xx r poo 0 0eng d 5.00 USD 9781513541433 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. Monetary and Capital Markets Department. Republic of Korea : Financial System Stability Assessment and Press Release for the Republic of Korea. Washington, D.C. : International Monetary Fund, 2020. 1 online resource (65 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper presents Financial System Stability Assessment (FSSA) with the Republic of Korea. The Korean authorities have continued their efforts at upgrading the prudential, legal, and supervisory framework for the financial sector, and keeping up with international standards and practices in other G20 jurisdictions. The authorities have been strengthening the system with micro and macroprudential measures against vulnerabilities, strengthening the crisis management framework, and upgrading the prudential and legal framework. The FSSA suggests moving toward a more forward-looking monitoring and systemic risk identification mechanism. The reliability of various stress tests could be augmented with advanced methods, system-wide monitoring, and testing the overall leverage related to residential properties, households' resilience to adverse shocks, and sovereign contingent liabilities. Stronger focus is required on systemic risks emanating from securities market activities that can amplify contagion, including sudden redemption and liquidity pressures in the funds and asset management industry. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2020/120 Full text available on IMF http://elibrary.imf.org/view/journals/002/2020/120/002.2020.issue-120-en.xml IMF e-Library