협동조합형 상호금융기관의 리스크 특성과 규제감독에 대한 함의

This study examines the risk profile of cooperative financial institutions and discusses its supervisory implications in the Korean context. The government' financial regulatory reform after the Asian crisis changed the governance structure and operational behaviors of five cooperative financial institutions in Korea. But these institutions still retain cooperative characteristics in terms of unique governance, capital structure, restricted operational areas, and homogeneity of members and their risk profile is different from that of commercial banks due to these characteristics. Different regulatory standards for five institutions set by different regulatory bodies pose another risk for cooperative financial institutions in Korea. This study suggests that regulatory bodies consider unique risk features of cooperative financial institutions and different regulatory bodies need to be unified to prevent regulatory arbitrage or forbearance in the long term.