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Sunday, September 18, 2011

South Korea suspends 7 more ailing savings banks - Yahoo! Singapore Finance

South Korea suspends 7 more ailing savings banks - Yahoo! Singapore Finance

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  1. SEOUL (Reuters) - South Korea's financial regulators on Sunday ordered the temporary closure of seven more savings banks as part of its efforts to prevent financial contagion in the country's volatile savings bank sector.

    The Financial Services Commission (FSC) imposed a six-month suspension on seven ailing savings banks, including the major Jeil and Tomato savings banks.

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