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China Banking

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Submitted By jathoul
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Chinese Banking System- Risk Management
Central banks are the principal monetary authority of a country or a group of countries and are crucial to the functioning of all banks, financial markets, and the economy. “Central banks typically expose themselves to variety of risks including market, credit, interest rate and liquidity risk”. (PWC.com). Furthermore, central banks are exposed to significant reputational and operational risks as well as legal risks. Central banks necessitate the combination ofliquidity, safety and the enhancement of returns on invested funds, as the fundamental criteria for managing its reserves and financial risks. Hence, central banks usually implement a separate risk management department that monitors the central bank widerisks.
In the Chinese banking system, China Bank Regulatory Commission (CBRC) is responsible for overseeing risk management of all the Chinese banks. The CBRC requires banks to take operative measures to address the weaknesses in their internal controls and improve their risk management and internal control practices.Due to the complicated and changing economic and market environments, both internationally and domestically, along with the emerging risks on various fronts, the CBRC strives to take responsive actions to facilitate sound and sustainable economic and financial developments in China. It endeavors to identify andmitigate risks in a forward-looking manner, by constantly improving the regulatory framework and supervisory conduct.

In 2011, CRBC in its 12th five year plan, provided guidelines to banks on different supervisory and regulatory controls to manage various risk faced by banks including but not limited to:
CREDIT RISK: The goal of credit risk management is to maximize a bank's risk-adjusted rate of return by maintaining credit risk exposure within acceptable parameters. Since exposure to credit risk is the leading source of problems in banks world-wide a comprehensive credit risk management program to mitigate this risk was addressed to these four areas: (i) establishing an appropriate credit risk environment; (ii) operating under a sound credit-granting process; (iii) maintaining an appropriate credit administration, measurement and monitoring process; and (iv) ensuring adequate controls over credit risk. This effective management of credit risk is a critical component of a comprehensive approach to risk management. Few other measures were also enforced to correct the non compliance in credit management like frontline oversight, on site examination and regulatory talks. As loans are the largest source of credit risk, CBRC made great efforts to rectify the borrowing and repayment of loans, duration and settling interest rates with principal. The CBRC also enhanced loan classification system and internal management systems to identify and prevent potential risks associated with mid-to-long-term loans.
SOURCE: CHINA BANKING REGULATORY COMMISSION 2011 Annual Report.pdf.pdf

MARKET RISK: The CBRC encouraged banking institutions to strengthen market risk management and ensure their safe and stable operation. The bank closely monitored the latest development of domestic and international markets and was involved in trading of securities, foreign exchange, gold and their derivative products following the deepening of reform of banking sector, the marketisation of interest rates and the continuous development of financial innovation and integrated operation. While international banks became increasingly matured, CBRC conducted on-site examinations on market risks of commercial and foreign banks. The CBRC will also help commercial banks and other small and medium sized rural financial institutions strengthen their personnel training and infrastructure building and improve their market risk management standards. http://www.cbrc.gov.cn/EngdocView.do?docID=1126
LIQUIDITY RISK: In order to enhance liquidity supervision CBRC introduced two standards in liquidity regulation, namely Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR), cbrc has developed global liquidity standards and supervisory monitoring procedures. With the rapid development of financial innovation and financial markets in recent years, commercial banks are under greater pressure to manage liquidity risks...It also raised stress test requirements and emergency plans to make them more targeted and workable.In the meantime, banks developed endogenous mechanism for liability quality management and expanded funding sources to guard against liquidity risks.SOURCE: attached pdf file
Operational risk: In 2011, CBRC urged commercial banks to establish an operational risk management system meeting the requirements of their business nature, scale and complexity to effectively identify, assess, monitor and mitigate operational risk. This includes: assessment of operational risk and internal control, loss event reporting and data collection, monitoring of key risk indicators, risk assessment regarding new products and business practices, testing and audit of internal control, and operational risk reporting.
1) STRENTHENING RISK PREVENTION IN KEY AREAS:
These early warning indicators are used to monitor various risks and control measures that may result in loss events.CBRC strengthened examinations targeting operational risks in banks fiscal accounts and inherent in foreign banks and all rural financial institutions were asked to rectify their practices of borrowing on assumed names.
2) BUILDING UP AN EFFECTIVE AND SUSTAINABLE MECHANISM TO PREVENT BANKING CASES:
Banks were equipped with strengthened capabilities of identifying and handling banking frauds and crimes. To prevent and control these risks, case reporting and registration procedures as well as evaluation methods were carried out. Prevention of banking frauds and crimes were linked with capital regulation so as to integrate prevention into banks overall risk management framework. SOURCE: CHINA BANKING REGULATORY COMMISSION 2011 Annual Report.pdf.pdf

Reputational risk

In 2011, banks were urged to reinforce reputational risk management with strengthenedinstitutional arrangements, personnel training and team building. The CBRC held a series ofreputational risk management training programs for major city commercial banks like PBOC nationwide, set up specialized teams to carry out in-depth theoretical research on reputational risks. In addition, through developing information systems, rehearsing contingency plans, strengthening training and introducing into new media, banks effectively enhanced reputational risk management capabilities and consequently reduced the potential losses.

Risk management is facing a turbulent environment, and responding will likely require continuing enhancement of the risk management function. Financial institutions will continue to look to their boards of directors to provide strong oversight to risk management, including enhancing and approving the risk appetite statement. Recent developments in the financial markets have tested the capabilities of risk management across the financial services industry. But as the survey results help to illuminate, the continued strengthening of the risk management function allows institutions and opportunity to emerge more resilient and better able to meet the competitive challenges ahead. The PBC is committed to improving the financial infrastructure, and has made much progress in recent years. The PBC and other financial institutions should strengthen communication and training, and focus on innovation and risk prevention. http://www.cbrc.gov.cn/showyjhjjindex.do http://www.pwc.com/en_GX/gx/financial-services/pdf/nhrm_foster.pdf

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