16.05.2011 - Will S Korea's bad bank stabilize property market?
South Korea's financial watchdog said in early May that it will establish a bad bank, a special entity to purchase soured loans owed by builders and property developers. The Project Financing Stabilization Bank (PFSB), often called bad bank, will take on as much as 1 trillion won (922 million U.S. dollars) worth of non-performing project financing loans starting June, according to the Financial Services Commission.(FSC)..............................................Full Article: Source
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