S. Korean banks need to ensure enough cash: minister

SEOUL, Oct. 6 (Yonhap) -- South Korean banks must take active measures, including the sale of their foreign assets, to stem any shortfalls in liquidity, the nation's top economic policymaker said Monday.

"The government plans to help facilitate liquidity flows but financial
institutions need to do their part," Finance Minister Kang Man-soo told a meeting
with the heads of local banks.
Kang called on local lenders to sell off overseas assets and stock holdings to
secure liquidity, and to transfer foreign currency deposits held in overseas
banks back into the country to increase foreign currency reserves.
Banks must not withhold money from trading companies and must also refrain from
holding on to excessive amounts of foreign reserves, which can distort the
market, he said.