The FSC and the FSS held the second working group meeting of the taskforce on improving the management and operating practices of banks and banking system on March 8, chaired by FSC Vice Chairman Kim So-young. At the meeting, authorities discussed the current status in the development of a single-stop online loan transfer system and plan for its expanded application, as well as ways to promote competition between the banking and nonbanking sectors as an extension of the discussion held in last meeting. At the meeting, Vice Chairman Kim said that along with the loan comparison platform, single-stop online loan transfer system is an essential infrastructure needed to help ease interest rate burdens of the public. In this regard, Vice Chairman Kim emphasized the need to develop a loan transfer system for home mortgage loans.