Recently, the CBRC has seriously investigated and dealt with a number of illegal cases in the field of regulatory standardized data (East) data quality, and made administrative punishment decisions on 21 Banking institutions, including policy banks, large state-owned banks and joint-stock banks, with a total amount of 87.6 million yuan.
From the information released by the ticket, the data quality and data submission problems of the East system of relevant banks mainly include missing reporting, deviation of submitted data, etc., and many banks have the problem of non-standard registration of financial products.
21 banking institutions were fined for East violations
Recently, the CBRC seriously investigated and dealt with a number of illegal cases in the field of supervision and standardization data (East) data quality, and made administrative punishment decisions on 21 Banking institutions according to law, with a total penalty of 87.6 million yuan.
From the information released by the ticket, the data quality and data submission problems of the East system of relevant banks mainly include missing reporting, deviation of submitted data, etc., and many banks have the problem of non-standard registration of financial products.
There were 17 violations in the data quality and data submission of the East system of China Development Bank, and the cbcirc imposed a fine of 4.4 million yuan. From the perspective of the administrative punishment letter, the main reasons for violation of laws and regulations of China Development Bank include: failure to submit the East data of loan balance overdue for more than 90 days, omission of East data of trade financing business, omission of East data of loan write off business, deviation of East data of credit asset transfer business, failure to submit East data of bond investment business, omission of East data of equity investment business, omission of East data of documentary credit business, Missing the East data of the letter of guarantee business, there is a deviation in the bottom position balance data of the financial products of the East system, there is a deviation in the industry balance data of the non-standard investment of the financial products of the East system, missing the East data of the separate account, missing the East data of the credit information, wrong reporting of the off balance sheet credit business of the East system, wrong reporting of the receipt of corporate credit business of the East system, and missing reporting of the association relationship of the East system, The corporate credit ledger of East system is not reported, and the registration of financial products is not standardized.
The Export Import Bank of China was fined 4.2 million yuan by the CBRC for the following violations of data quality and data submission in the East system. Including: failing to report the East data of non-performing loan balance, failing to report the East data of loan balance overdue for more than 90 days, failing to report the East data of trade financing business, failing to submit the East data of entrusted loan business, inconsistent comparison between the sub ledger of East system and the general ledger, false reporting of the detailed record of corporate current deposit Sub Ledger of East system, etc.
Industrial And Commercial Bank Of China Limited(601398) east system has the following violations in data quality and data submission, and is fined 3.6 million yuan by cbcirc: including deviation in East data of collateral value, omission of East data of credit asset transfer business, failure to submit East data of public fund investment business, omission of East data of documentary credit business, omission of East data of letter of guarantee business, inconsistency between sales end and product end data of financial products of East system The registration of financial products is not standardized.
We will strengthen the investigation and punishment of violations of regulatory data quality
In recent years, the CBRC has attached great importance to the overall governance level and quality control mechanism of regulatory data, and organized and carried out a special inspection on the data quality of East, 21 national Chinese funded banking institutions. For the data quality violations found in the inspection, such as the omission and misrepresentation of East data and the deviation in the cross check of some data, the cbcirc shall impose serious administrative penalties in accordance with the law. At the same time, urge banking institutions to seriously pursue accountability, dig deep into the root causes of imperfect governance and imperfect mechanism behind data quality violations, adhere to the combination of immediate reform and long-term legislation, improve mechanism defects and make up for system loopholes.
The authenticity and accuracy of regulatory data are not only the internal requirements for the internal control and compliance of banking institutions, but also the concrete embodiment of the implementation of policy deployment and regulatory requirements. Banking institutions should earnestly assume the main responsibility for data quality, improve data governance ability, strengthen data quality control and continuously improve the accuracy and comprehensiveness of data submission according to the relevant requirements of regulatory data standardization.
In the next step, the CBRC will continue to strengthen the investigation and punishment of violations of regulatory data quality, enforce market discipline, improve the cost of violations, guide and urge banking institutions to give full play to the role of regulatory standardized data in preventing financial risks and improving the level of internal control.
what is east
East system, full name of examination and analysis system technology, is an inspection and analysis system with independent intellectual property rights developed by the CBRC in 2008. It aims to comply with the development trend of big data and help the regulatory authorities improve the inspection efficiency. The system includes bank standardized data extraction, on-site inspection project management, data model generation tool, data model release and management and other functional modules.
its core is: first, build a relatively open data analysis platform to realize flexible organization, screening, extraction, modeling, mining and analysis of banking business data; The second is to establish a set of general and relatively closed data collection standards and include the risk data points concerned by regulators. After years of practice, the system has given full play to the role of precise guidance, precise tracking and precise positioning at the level of supervision and inspection, found out a large number of doubtful data, excavated some hidden problems, and effectively improved the inspection efficiency
In May 2020, the CBRC issued a notice on the special treatment of data quality, requiring all banking and insurance financial institutions to implement the special treatment plan of regulatory data quality and formulate a detailed project schedule before the end of May 2021.
The data requiring commercial banks to implement special governance include: off-site supervision (1104), customer risk, supervision data standardization (East), insurance statistics, insurance solvency, insurance fund utilization and other system collected data and core supervision indicators. Data quality mainly includes data authenticity, accuracy, integrity and timeliness.
The institutions involved include large banks, joint-stock banks, urban commercial banks, rural commercial banks, foreign banks, credit cooperatives and other financial institutions that absorb public deposits, policy banks, China Development Bank, insurance group (holding) companies, insurance companies and insurance asset management companies.
