Regulatory Alerts2024-10-11 | 83194Household Loans, September 2024
The Financial Services Commission reported that household loan balances rose by KRW 5.2 trillion in September 2024, marking a deceleration from the previous month's growth. This slowdown was primarily driven by the implementation of the second phase of the stressed debt service ratio rule and banks' self-regulatory efforts to strengthen loan management. Authorities remain vigilant regarding high loan growth rates and will continue to review additional measures to ensure stable household debt management.
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