The Financial Supervisory Service will fix the interest rate of securities firms

COMPANY / Reporter Paul Lee / 2023-02-20 05:25:39
This article is translated by AI company Flitto and Alhpa Biz neural machine translation technology
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[Alpha Biz=(Chicago) Reporter Paul Lee] The Financial Supervisory Service plans to announce measures to reduce the burden on investors, including improved interest rate disclosures, during the first quarter.

According to the financial industry and authorities on the 17th, the Financial Supervisory Service investigated the background of the rate hike for Mirae Asset, Yuanta Securities, and DB Financial Investment, which recently raised the interest rate on credit transaction loans.

Securities firms contacted by the Financial Supervisory Service recently raised interest rates on credit transaction loans. Mirae Asset Securities said it will raise interest rates on short-term credit transaction loans from 4.9 percent to 5.9 percent from July 27, while DB Financial Investment raised interest rates on credit loans from July 15 and Yuanta Securities from July 13. Some securities firms have steadily raised credit loan interest rates in line with the key rate hike since last year, exceeding 10%.

Korea Investment & Securities Co. and Samsung Securities Co. are preparing to lower or lower interest rates on credit transaction loans in response to authorities' moves.

The Financial Supervisory Service plans to induce securities firms to voluntarily cut interest rates by reorganizing the disclosure and calculation of interest rates on credit transaction loans.

 

Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)

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