The FSC and the FSS held the 7th working group meeting of the taskforce on improving the management and operating practices of banks and banking system on May 3, chaired by FSC Vice Chairman Kim So-young. At the meeting, participants discussed ways to make improvements to the banks' interest rate calculation system and measures to expand the availability of support programs intended to help vulnerable groups. Regarding the banks' interest rate calculation system, Vice Chairman Kim emphasized the need to respect the autonomy of individual banks, but at the same time called for the need to make the current interest rate calculation system more reasonable and transparent so that it can be trusted by financial consumers and markets. On the issue of inclusive finance efforts of banks, Vice Chairman Kim said that banks should make available more opportunities for support on a continuing basis to help alleviate economic and financial burdens of consumers. In the next working group meeting scheduled to be held on May 10, authorities will discuss ways to expand non-interest income of banks.