Korean insurers increasingly exposed to risky overseas assets

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The Financial Supervisory Service (FSS) of South Korea will turn a closer eye on insurance companies’ overseas alternative investments, after discovering around KRW1.2 trillion (SG$1.42 billion) of impaired assets in insurer’s portfolios.

On February 22, the regulator said it will create a risk management framework for insurers to deal with this issue within the first half of the year, Business Korea reported. The guidelines will oversee various processes, such as on-site due diligence and checking legal management relationships of collateral. It will also require insurers to institute a review process on investments with high loan-to-value ratios.

A total of 36

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What is the potential impact of a digital euro on the financial system

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Throughout history, innovations in money have challenged and altered the structure of the financial system, but perhaps non more so than the concept of a digital euro. Time and time again, innovations have given rise to debates about the risks they pose and the rewards they bring, as well as the role of central banks in building confidence in money.

What is the potential impact of a digital euro on the financial system

In this post on the digitalisation of payments, Payments Cards and Mobile takes excerpts of a speech by Fabio Panetta, Member of the Executive Board of the

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Pandemic prompts UK shoppers to turn their backs on credit and BNPL

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New research points to changing payment habits among online shoppers. A European study of 10,000 consumers and 1,000 merchants found that seven out of ten (71%) UK shoppers now prefer to pay via debit, compared to 25 per cent who prefer credit or BNPL (Buy-Now-Pay-Later).

Pandemic prompts UK shoppers to turn their backs on credit and BNPL

When asked why they use debit, more than half (52%) said they prefer to be in control of their spending, while 48% said they do not like the feeling of being in debt. The report, commissioned by Trustly, showed the strongest preference for

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Open Banking a global revolution or evolution?

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Open Banking, which allows third-party providers to access the financial information of banking customers through Application Programming Interfaces (APIs), was launched with the aim of providing customers with more tailored and innovative products and services, and to foster more competition in the banking industry.

As banks attempt to broaden and improve their digital offerings, countries and regions have approached Open Banking in different ways – states a new report “Open Banking: revolution or evolution?” written by the Economist Intelligence Unit (EIU) and based on a survey of over 300 global banking executives.

Some, like the US, take a

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