FSC chief to discuss financial regulation in Basel meeting

SEOUL, Jan 8 (Yonhap) -- The chairman of the Financial Services Commission (FSC) is to attend a Financial Stability Board (FSB) meeting Saturday in Switzerland to discuss financial regulations and market stabilization, the local financial watchdog said Friday.

Chin Dong-soo will meet in Basel with financial regulators of member countries to
the board and exchange views on policies regarding financial market reforms, bank
capital controls and financial firms' excess risk taking, the FSC said.
Launched after the summit of the Group of 20 major industrialized and emerging
economies in London in April last year, the FSB succeeded the Financial Stability
Forum involving the Group of Seven major industrialized countries. The FSB covers
all the G-20 economies.
The participants in the latest meeting include central bank heads and financial
authorities from 24 member nations and decision makers of The Basel Committee on
Banking Supervision, the regulator said.
Chin is expected to deliver agenda on financial market regulation possibly to be
put on the negotiating table for the G-20 summit meeting in Seoul in November and
also plans to propose opening a plenary FSB meeting in Seoul right ahead of the
G-20 session, it said.
The G-20 consists of the G-7 -- Britain, Canada, France, Germany, Italy, Japan
and the United States -- plus Argentina, Australia, Brazil, China, India,
Indonesia, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey and
the European Union.
pbr@yna.co.kr