금융업권간 상호연계성 및 부실전이위험과 예금보험기금 체계에 관한 연구

초록

As the Korean financial companies expand their operation into the complex financial products, concerns over the contagion risk and spillover effect of financial companies' failure are increasing. This paper employs the Principal Component Analysis (PCA) methodology to empirically investigate and confirm the high degree of interconnectedness of the Korean financial companies. In the analysis, the stock return data of financial sectors and financial companies over the sample periods of 1997-2017 are used. Current Deposit Insurance Fund (DIF) is in severe deficit, and the size of Savings Banks’ Account and Special Account are not adequate to cope with the multiple failures of complex financial companies, in particular. Introducing a new account, so called "General Account" in the DIF, following the example of the Financial Services Compensation Scheme (FSCS) in the U.K., which the KDIC can use to resolve the insured financial companies, is proposed. A funding scheme of the General Account to be "ex-post" until 2026, the year in which the term of Special Account expires, is also proposed. After that, it can be switched into the ex-ante basis funding scheme again.

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