FSC Chairman Kim Joo-hyun held a meeting with senior officials on March 13 to discuss financial market situations and measures for future response in the wake of the closure of Silicon Valley Bank and Signature Bank in the U.S. As it was discussed at the macroeconomic and financial meeting held yesterday, experts continued to view that this will not spread as a systemic risk across financial sectors. However, as there are possibilities of rising market volatility, FSC Chairman Kim Joo-hyun told officials to strengthen monitoring of financial markets at home and abroad in close cooperation with related ministries and institutions. In particular, FSC Chairman Kim urged authorities to promptly check domestic financial companies' soundness and liqudity conditions in coordination with the FSS.