The FSC held a media briefing on August 9 and announced the availability of relief conversion loans from September 15. At the briefing, Director General Kwon Dae-young from the Financial Policy Bureau explained that the authorities will make available KRW25 trillion in relief conversion loans with preferential benefits which will provide low income households and non-speculative homebuyers a chance to convert their current adjustable or mixed rate mortgage loans into long-term fixed rate refinancing products at low interest rates with ability to make payment in installments. Application and registration for relief conversion loans will open on September 15 which can be accessed from the websites of Korea Housing Finance Corporation and six major banks.