South Korea may propose at a G20 summit in November the setting up a global pool to offer emergency dollar funds to financial institutions in the event of another economic crisis, Japan's Nikkei newspaper reported on Saturday.
Seoul, which chairs the G20 this year, is informally proposing the idea to Japan, the United States and European nations, the business daily reported, citing "global financial sources".
Under the plan, major economies will pool funds from their foreign reserves, which can be used to help private financial institutions that are unable to tap the money market, the Nikkei said.
Some in the Japanese government welcome the proposal as a way to make use of Japan's huge foreign reserves sized at around 100 trillion yen ($1,124 billion), the paper said.
But it's uncertain whether the proposal will gain G20 understanding because Seoul has yet to come up with details of the plan, it said.
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