Vice Chairman Kim So-young of the Financial Services Commission presided over a meeting with the Financial Supervisory Service and industry representatives on October 18 to review financial market situations, potential risk factors and ways to handle them. At the meeting, the authorities discussed downside external risks such as the possibility of continuing high interest rates caused by a prolonged policy tightening in the U.S. and uncertainties surrounding the Israel-Hamas conflict and measures to avert excessive money moves in domestic financial markets in the final three months of the year. To prevent excessive competition from taking place between financial companies, the banks' liquidity coverage ratio (LCR) requirement will be kept at 95 percent until June 2024, an extension of six more months from initially planned. In addition, banks will be allowed to issue bonds more flexibly according to each bank's own needs and financial situation. At the meeting, Vice Chairman Kim said that the eased rules intended to prevent excessive competition between financial companies should not be used as a means for the race to boost assets and external growth.