Banks Form Arbitration Panel
A standing conference of creditor banks will be established Tuesday to increase communication among the banks.The conference will allow creditor banks to operate a evaluation system on companies' credit ratings and strengthen inter-bank cooperation. Creditor banks will decide which companies should be denied loan after talks with companies up for restructuring.
Measures to strengthen further the authority of the conference are being considered, like forbidding banks from selling bonds they own if this contradicts decisions made in the conference. The chairman of the Korea Federation of Banks will take the top seat in the conference.
with the Korea JoongAng Daily
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