CBIRC issued the final data governance guideline for banking financial institutions, post a consultation with the stakeholders. The aim is to guide banks to strengthen data governance, improve data quality, realize full value of data, and improve the level of operation and management, from high-speed growth to high-quality development. The guidelines shall come into force as of the date of issue.
The guideline contains seven chapters with 55 Articles covering general principles, data governance architecture, data management, data quality control, data value realization, supervision, and supplementary provisions and by-laws. The issuance and implementation of the guideline will help promote transformation of the banking industry from high-speed growth to high-quality development, expand new businesses, tap new dynamics, improve service capabilities, and improve the quality of business management. The guideline shall apply to the banking financial institutions established in the People's Republic of China. The term "banking financial institutions" as used in the guideline refers to financial institutions, policy banks, and national development banks that have established deposits with commercial banks and rural credit cooperatives in the People's Republic of China.
Related Links (in Chinese)
Effective Date: May 21, 2018
Keywords: Asia Pacific, China, Banking, Data Governance, Guideline, Data Quality, CBIRC
Previous ArticleCFTC Issues Advisory on Virtual Currency Derivative Product Listings
ECB finalized the guide on assessment methodology for the internal model method for calculating exposure to counterparty credit risk (CCR) and the advanced method for own funds requirements for credit valuation adjustment (A-CVA) risk.
EBA published an Opinion addressed to EC to raise awareness about the opportunity to clarify certain issues related to the definition of credit institution in the upcoming review of the Capital Requirements Directive and Regulation (CRD and CRR).
APRA is consulting on updates to ARS 210.0, the reporting standard that sets out requirements for provision of information on liquidity and funding of an authorized deposit-taking institution.
FED released hypothetical scenarios for a second round of stress tests for banks.
PRA published updates in relation to the 2021 Supervisory Benchmarking Portfolio exercise.
FED adopted a proposal to extend for three years, with revision, the capital assessments and stress testing reports (FR Y-14A/Q/M; OMB No. 7100-0341).
HKMA revised the Supervisory Policy Manual module CR-G-14 on margin and other risk mitigation standards for non-centrally cleared over-the-counter (OTC) derivatives transactions.
EBA issued a revised list of validation rules with respect to the implementing technical standards on supervisory reporting.
EBA published its response to the call for advice of EC on ways to strengthen the EU legal framework on anti-money laundering and countering the financing of terrorism (AML/CFT).
NGFS published a paper on the overview of environmental risk analysis by financial institutions and an occasional paper on the case studies on environmental risk analysis methodologies.