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FSC halts business at Domin savings bank

The Financial Services Commission said it has suspended Domin Mutual Savings & Finance, based in Chuncheon, Gangwon Province, saying that the bank’s capital shortages were excessive.

The latest suspension of the bank came after the financial regulator forced six savings banks to halt their business last week, as their asset erosion and capital shortages triggered jittery depositors to withdraw their deposits in a chain reaction.

(yoonmi@heraldcorp.com)

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