Finance
Banking gaps in fund management, reverse mortgage processing spark calls for reform
South Korea’s National Assembly steering committee raised issues during an audit over how public institutions place deposits with regional banks, differences among banks in the time needed to disburse reverse mortgage loans, and funding constraints for long-term fixed-rate mortgages. Lawmakers urged changes to criteria for selecting transaction banks to support regional finance, steps to shorten reverse mortgage payment procedures, and reforms to help banks secure long-term funding, including measures to invigorate the covered bond market.
