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 ArticleBoE Working Paper on Capital Regulation and Product Market Outcomes
Next ArticleEBA Single Rulebook Q&A: Second Update for May 2018
EBA published a report analyzing the impact of the unwind mechanism of the liquidity coverage ratio (LCR) for a sample of European banks over a three-year period, from the end of 2016 to the first quarter of 2020.
In response to questions from a member of the European Parliament, the ECB President Christine Lagarde issued a letter clarifying the possibility of amending the AnaCredit Regulation and making targeted longer-term refinancing operations (TLTROs) dependent on the climate-related impact of bank loans.
IASB started the post-implementation review of the classification and measurement requirements in IFRS 9 on financial instruments and added the review as a project to its work plan.
FSB published a report that examines progress in implementing policy measures to enhance the resolvability of systemically important financial institutions.
EBA published a report on the benchmarking of national loan enforcement frameworks across 27 EU member states, in response to the call for advice from EC.
FSB published a letter from its Chair Randal K. Quarles, along with two reports exploring various aspects of the market turmoil resulting from the COVID-19 event.
RBNZ launched a consultation on the details for implementing the final Capital Review decisions announced in December 2019.
The Trustees of the IFRS Foundation, which are responsible for the governance and oversight of IASB, have announced the appointment of Dr. Andreas Barckow as the IASB Chair, effective July 2021.
HKMA issued a letter to consult the banking industry on a full set of proposed draft amendments to the Banking (Capital) Rules for implementing the Basel standard on capital requirements for banks’ equity investments in funds in Hong Kong.
ESRB published an opinion assessing the decision of Swedish Financial Supervisory Authority (FSA) to extend the application period of a stricter measure for residential mortgage lending, in accordance with Article 458 of the Capital Requirements Regulation (CRR).