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Banks Punished Over FX Violations In Korea
South Korea’s Financial Supervisory Service has lowered the ceiling for fx derivatives at domestic branches of Crédit Agricole and United Oversees Bank after they exceeded their limits on how big a proportion of their equity capital the contracts could represent, reports Bloomberg.
South Korea’s Financial Supervisory Service has lowered the ceiling for fx derivatives at domestic branches of Crédit Agricole and United Oversees Bank after they exceeded their limits on how big a proportion of their equity capital the contracts could represent. The FSA cut Crédit Agricole’s ceiling by USD260 million for two days, while it reduced UOB’s by USD7 million for two days.
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