S.Korea c.bank to call in Fed-funded bank loans

SEOUL Nov 23 (Reuters) - South Korea's central bank on Monday said that it would not roll over any of the $800 million in its U.S. Fed-funded forex loans to local banks due to mature this week as local forex market conditions had improved fast.

The Bank of Korea said in a statement that it would also call in all of the remaining $450 million in oustanding loans when they mature on Dec. 17.

The central bank extended up to $16.35 billion in 3-month emergency loans to local banks suffering a severe dollar crunch during the global financial crisis, using a $30 billion currency swap facility with the U.S. Federal Reserve. (Reporting by Seo Eun-kyung; Editing by Jonathan Hopfner) ((eunkyung.seo@thomsonreuters.com;+822 3704 5648; Reuters Messaging:eunkyung.seo.reuters.com@reuters.net)) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com))