A savings and loan association (S&L),or thrift institution,is a financial institution that specializes in accepting savings deposits and making mortgage and other loans. The terms "S&L" and "thrift" are mainly used in the United States;similar institutions in the United Kingdom,Ireland and some Commonwealth countries include building societies and trustee savings banks. They are often mutually held,meaning that the depositors and borrowers are members with voting rights,and have the ability to direct the financial and managerial goals of the organization like the members of a credit union or the policyholders of a mutual insurance company. While it is possible for an S&L to be a joint-stock company,and even publicly traded,in such instances it is no longer truly a mutual association,and depositors and borrowers no longer have membership rights and managerial control. By law,thrifts can have no more than 20 percent of their lending in commercial loans—their focus on mortgage and consumer loans makes them particularly vulnerable to housing downturns such as the deep one the U.S. experienced in 2007.
The Community Reinvestment Act is a United States federal law designed to encourage commercial banks and savings associations to help meet the needs of borrowers in all segments of their communities,including low- and moderate-income neighborhoods. Congress passed the Act in 1977 to reduce discriminatory credit practices against low-income neighborhoods,a practice known as redlining.
The Bank of Korea is the central bank of the Republic of Korea and issuer of Korean Republic won. It was established on 12 June 1950 in Seoul,South Korea.
Banking regulation and supervision refers to a form of financial regulation which subjects banks to certain requirements,restrictions and guidelines,enforced by a financial regulatory authority generally referred to as banking supervisor,with semantic variations across jurisdictions. By and large,banking regulation and supervision aims at ensuring that banks are safe and sound and at fostering market transparency between banks and the individuals and corporations with whom they conduct business.
A non-performing loan (NPL) is a bank loan that is subject to late repayment or is unlikely to be repaid by the borrower in full. Non-performing loans represent a major challenge for the banking sector,as they reduce profitability. They are often claimed to prevent banks from lending more to businesses and consumers,which in turn slows economic growth,although this theory is disputed.
The Financial Institutions Reform,Recovery,and Enforcement Act of 1989 (FIRREA),is a United States federal law enacted in the wake of the savings and loan crisis of the 1980s.
The Korea Deposit Insurance Corporation (KDIC) is a deposit insurance corporation,established in 1996 in South Korea to protect depositors and maintain the stability of the financial system. The main functions of KDIC are insurance management,risk surveillance,resolution,recovery,and investigation.
The Federal Financial Supervisory Authority,better known by its abbreviation BaFin,is Germany's integrated financial regulatory authority. Since 2014,it has been Germany's national competent authority within European Banking Supervision. It is an independent federal institution with headquarters in Bonn and Frankfurt and falls under the supervision of the Federal Ministry of Finance. BaFin supervises about 2,700 banks,800 financial services institutions,and over 700 insurance undertakings.
The Financial Supervisory Commission is an independent government agency subordinate to the Executive Yuan of the Republic of China (Taiwan). It is responsible for regulating securities markets,banking,and the insurance sector.
A non-banking financial institution (NBFI) or non-bank financial company (NBFC) is a financial institution that is not legally a bank;it does not have a full banking license or is not supervised by a national or international banking regulatory agency. NBFC facilitate bank-related financial services,such as investment,risk pooling,contractual savings,and market brokering. Examples of these include hedge funds,insurance firms,pawn shops,cashier's check issuers,check cashing locations,payday lending,currency exchanges,and microloan organizations. Alan Greenspan has identified the role of NBFIs in strengthening an economy,as they provide "multiple alternatives to transform an economy's savings into capital investment which act as backup facilities should the primary form of intermediation fail."
The Caisse des dépôts et consignations is a French public sector financial institution created in 1816,and part of the government institutions under the control of the Parliament. Often described as the "investment arm" of the French State,it is defined in the French Monetary and Financial Code as a "public group serving the public interest" and a "long-term investor". Since 2017,Eric Lombard has served as its CEO. Since september 2022,Alexandre Holroyd was elected chairman of the board. As of 2022,it is considered the largest sovereign wealth fund in the world by total assets.
Kim Jong-chang was the seventh governor of South Korea's Financial Supervisory Service,from March 2008 to March 2011. He was named to his position on 27 March 2008,after nearly three decades in finance-related government positions and the government-owned Industrial Bank of Korea. He retired on 25 March 2011.
The National Securities Market Commission is the Spanish government agency responsible for the financial regulation of the securities markets in Spain. It is an independent agency that falls under the Ministry of Economy.
The Polish Financial Supervision Authority (PFSA) is the financial regulatory authority for Poland. Its responsibilities include oversight of banking,capital markets,insurance,pension scheme and electronic money institutions.
Basel III is the third Basel Accord,a framework that sets international standards for bank capital adequacy,stress testing,and liquidity requirements. Augmenting and superseding parts of the Basel II standards,it was developed in response to the deficiencies in financial regulation revealed by the financial crisis of 2007–08. It is intended to strengthen bank capital requirements by increasing minimum capital requirements,holdings of high quality liquid assets,and decreasing bank leverage.
Kwon Hyouk-Se is the eighth governor of South Korea's Financial Supervisory Service. He took office in March 2011 after about 30 years of experience in government service. He was previously the vice chairman of Financial Services Commission (FSC).
European Banking Supervision,also known as the Single Supervisory Mechanism (SSM),is the policy framework for the prudential supervision of banks in the euro area. It is centered on the European Central Bank (ECB),whose supervisory arm is referred to as ECB Banking Supervision. EU member states outside of the euro area can also participate on a voluntary basis,as was the case of Bulgaria as of late 2023. European Banking Supervision was established by Regulation 1024/2013 of the Council,also known as the SSM Regulation,which also created its central decision-making body,the ECB Supervisory Board.
The Capital Markets Union (CMU) is an economic policy initiative launched by the former president of the European Commission,Jean-Claude Junker in the initial exposition of his policy agenda on 15 July 2014. The main target was to create a single market for capital in the whole territory of the EU by the end of 2019. The reasoning behind the idea was to address the issue that corporate finance relies on debt (i.e. bank loans) and the fact that capital markets in Europe were not sufficiently integrated so as to protect the EU and especially the Eurozone from future crisis. The Five Presidents Report of June 2015 proposed the CMU in order to complement the Banking union of the European Union and eventually finish the Economic and Monetary Union (EMU) project. The CMU is supposed to attract 2000 billion dollars more on the European capital markets,on the long-term.
