(1) The Minister of Economy and Finance may impose and collect a macro-prudential instability levy (hereafter in this Article and Article 11-3 referred to as "levies") on/from a financial company, etc. prescribed by Presidential Decree in full consideration of the roles of the financial company, etc. in the financial markets, its foreign exchange affairs, the scale of liabilities denominated in a foreign currency and other related matters in order to minimize instability in the financial markets following sudden inflows and outflows of foreign capital and to ensure the sound development of the national economy.
(2) Levies to be imposed and collected pursuant to paragraph (1) shall be an amount calculated by multiplying the balance of non-deposit liabilities in foreign currency, etc. by an imposition rate prescribed by Presidential Decree within the ceiling of 5/1,000 in consideration of the business areas of a financial company, etc., the maturity of non-deposit liabilities in foreign currency, etc. and other related matters.
(3) Notwithstanding paragraph (2), where the Minister of Economy and Finance deems that instability in the international financial markets, the sudden outflows or inflows of foreign capital, etc., are likely to substantially undermine the stability of the domestic financial markets and the national economy, he or she may impose and collect any of the following amount as levies with fixing a period not exceeding six months: <Amended on Jan. 17, 2017>
1. An amount calculated by multiplying the balance of the non-deposit liabilities in foreign currency, etc. by an imposition rate which is lowered and publicly notified by the Minister of Economy and Finance in lieu of the imposition rate prescribed in paragraph (2) for the relevant period;
2. An amount calculated by applying an imposition rate which is determined at a rate higher than that prescribed in paragraph (2) and publicly notified by the Minister of Economy and Finance (hereafter in this subparagraph referred to as "additional imposition rate"), in addition to the levies calculated pursuant to paragraph (2) with regard to the increased portion in the balance of the non-deposit liabilities in foreign currency, etc. for the relevant period. In such cases, the additional imposition rate shall not exceed 10/1,000 after summing up the imposition rate prescribed in paragraph (2).
(4) Levies collected under paragraph (1) shall revert to the foreign exchange equalization fund pursuant to Article 13 (1).
(5) Methods of calculating the balance of the non-deposit liabilities in foreign currency, etc. under paragraph (2) and an increase in the balance of the non-deposit liabilities foreign currency, etc. under paragraph (3), and other necessary matters for the imposition of levies shall be prescribed by Presidential Decree.[This Article Newly Inserted on Apr. 30, 2011]