The FSC and the FSS held the 9th working group meeting of the taskforce on improving the management and operating practices of banks and banking system on May 24, chaired by FSC Vice Chairman Kim So-young. At the meeting, participants discussed ways to improve the qualitative structure of household debt by expanding the proportion of fixed interest rate loans. More specifically, the meeting dealt with (a) ways to incentivize banks to supply more fixed rate loans, (b) ways to strengthen consumer awareness about the risk of variable interest rate loans and incentivize them to use more fixed rate loans and (c) ways to diversify the role of policy financial institutions to support expanded supply of fixed interest rate loans by local banks. At the meeting, Vice Chairman Kim So-young talked about the need to build a wide-ranging consensus on the importance of having more fixed interest rate loans from the perspective of making qualitative improvements to the structure of household debt and also for boosting our economy's crisis response capabilities.