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PBC published two industry standards called “Specifications for Credit Enhancement Services” and “Specifications for Risk Management of Credit Enhancement”

2012年08月24日   Views

      China has published two standards recently, which were organized by China Financial standardization technical Committees (CFSTC) and approved by the People’s Bank of China. China Bond Insurance Company, China Everbright Bank and China Credit Rating Co, Ltd. jointly drafted the standards called “Specifications for Credit Enhancement Services” and “Specifications for Risk Management of Credit Enhancement Institutions” .

     “Specifications for Credit Enhancement Services” (JR/T 0069-2012) includes the contents as the credit enhancement service’s scope, the credit enhancement methods, the credit enhancement institution management and practice criterion, etc. It emphasizes that the credit enhancement not only includes the form of guaranty improving the debt credit rating and debt perform level, but also includes realizing the credit risk dispersion and sharing mechanism arrangement through creating and exchanging financial derivative products.

      “Specifications for Risk Management of Credit Enhancement Institutions” (JR/T 0070-2012) specifies the risk type, the risk appetite, the basic principals of management, risk management structure, risk identification and measuring system, risk monitoring system, risk sustained-release and transfer, risk reserves and asset management, risk reporting mechanism, asset collection and preservation, risk management information system construction that credit enhancement institutions should undertake.

      These standards’ development and publishment will provide better understanding on credit enhancement industry for all market members, improve the level of business operations and risk management ability of credit enhancement institutions, enhance the credibility of the whole industry, promote steady development of financial industry.

 

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