The FSC and the FSS held the 8th working group meeting of the taskforce on improving the management and operating practices of banks and banking system on May 10, chaired by FSC Vice Chairman Kim So-young. At the meeting, participants discussed ways to improve the revenue generating practices of banks which tend to focus too much on interest revenues. As a way to encourage banks to expand non-interest revenues, participants talked about permitting banks to provide quasi-investment advisory service to their customers since it can bring about benefits to both banks and their customers in the area of asset management service. During the meeting, Vice Chairman Kim said that banks' interest revenues have grown significantly on the back of rising market interest rates since the volume of loans expanded amid the low interest rate environment and COVID-19 pandemic. In this regard, Vice Chairman Kim talked about the need for banks to diversify their source of profit-making. A set of measures to promote diversification of banks' business models through convergence of financial and non-financial businesses will be prepared for announcement by the end of June. In the 9th working group meeting scheduled for May 24, participants will discuss ways to improve the qualitative structure of household debt by expanding the proportion of fixed interest rate loans.