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FSC introduced guidelines on establishment of an application review panel for Internet-only banks

In order to review the applications for the establishment of Internet-only banks in a fair and impartial manner, the FSC will invite external experts and scholars to comprise a panel with its own representatives to review the aforementioned applications. The FSC has also introduced a guideline governing the panel’s tasks, the rights and obligations of panelists and the FSC task forces, convening, voting, and dissolution of the panel. The tasks of the panel include: (1) to determine the items for review, sub-items and their weightings, in addition to criteria and mechanism of review; (2) to review applications of establishment of Internet-only banks; (3) to propose recommendations regarding matters of review criteria, procedure and results. The application deadline was set on February 15, 2019, and 3 founders have submitted their applications to the FSC. The panel will review all the applications fairly and impartially. The final results will be announced by the end of June 2019.
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  • Update: 2020-07-14