금융기관 적기시정조치 제도에 대한 소고

Prompt Corrective Action System in Korea

  The prompt corrective action(PCA) system was introduced in Denmark in 1974. The US also introduced the PCA system in 1991 to deal with troubled depository institutions by the Federal Deposit Insurance Corporation Improvement Act of 1991. Korea introduced the PCA system in 1992 as a supervisory measure for the banking institutions. Just before the Korean financial and economic crisis, the PCA system was implemented for the financial institutions, including banks, securities companies, and insurance companies. During the crisis, the PCA system utilized as the restructuring measure for the troubled financial institutions. Afterwards, the Korean PCA system has been reformed and improved. However, there are still some areas to be improved in order that the Korean PCA system works efficiently and properly. This article argues that the authority of the management improvement recommendation should be allocated to the Financial Supervisory Service rather than the Financial Supervisory Committee. Furthermore the suspension of the PCA should be abolished.