[증권사 금리 역풍]⑧ 키움證, 발행어음 1조 '첫 시험대'

Kieum Securities is facing its first real test in managing newly launched commercial paper operations amid rising interest rates. The company's challenge is not rapid portfolio expansion but ensuring stable margins between borrowing costs and asset yields in a rising-rate environment. This underscores a critical lesson for all financial institutions: operational excellence in asset quality and liquidity management trumps external growth during interest rate cycles.