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1、附录 英文参考文献节选General principles for Credit ReportingThe World BankSeptember,2011Introduction and Executive Summary1.Welll functioning financial markets contribute to sustainable growth and economic development, because they typically provide an efficient mechanism for evaluating risk and return to inv
2、estment, and then managing and allocating risk. Financial infrastructure (FI) is a core part of all financial systems. The quality of financial infrastructure determines the efficiency of intermediation, the ability of lenders to evaluate risk and of consumers to obtain credit, insurance and other f
3、inancial products at competitive terms. Credit reporting is a vital part of a countrys financial infrastructure and is an activity of public interest.2. Credit reporting addresses a fundamental problem of credit markets: asymmetric information between borrowers and lenders, which may lead to adverse
4、 selection, credit rationing, and moral hazard problems. Regulators and financial market participants are therefore increasingly recognizing the value of credit reporting systems for improved credit risk and overall credit portfolio management, to enhance financial supervision and financial sector s
5、tability, and as a tool to enhance access to credit.3. In competitive markets, the benefits of credit reporting activities are passed on to borrowers in the form of a lower cost of capital, which has a positive influence on productive investment spending. Improved information flows also provide the
6、basis for fact-based and quick credit assessments, thus facilitating access to credit and other financial products to a larger number of borrowers with a good credit history (i.e. good repayment prospects).4. While credit reporting systems are developing rapidly across the world, there are no princi
7、ples to systematically guide the various stakeholders in dealing with the challenges associated with the development and day-to-day operation and improvement of these systems. The Credit Reporting Standards Setting Task Force was launched by the World Bank, with the support of the Bank for Internati
8、onal Settlements, to fill this critical gap, aiming to provide a core set of general principles to guide these efforts in any given jurisdiction. 5. The general principles are intended for policymakers, regulators, financial supervisors, credit reporting data providers, credit reporting service prov
9、iders, the users of such services, and individuals and businesses whose credit histories and identification data are stored in these systems (the latter two are referred to as “data subjects” throughout the report). In addition to the principles, the Task Force has also developed a set of specific r
10、oles, one for each of the stakeholders in credit reporting systems, as well as recommendations for effective oversight of credit reporting systems.6. The principles and related roles define the minimum elements underlying a sound, efficient and effective credit reporting system. Different markets ar
11、ound the world are at different stages in terms of the development of their own credit reporting systems, and the Task Force recognizes that while credit reporting systems in some jurisdictions will already fulfill some or probably even most of the principles, in others observance of the principles
12、will need medium to long-term efforts.7. The report builds on previous work in the area of credit reporting and related fields such as data protection and credit risk management. The World Bank Group, through the Global Credit Bureau Program and the Western Hemisphere Credit Reporting Initiative, ha
13、s analyzed issues affecting the creation and overall functioning of domestic credit reporting systems, and their continuous development through reforms. Other relevant work includes that of the Basel Committee on Banking Supervision (mainly the Basel Capital Accord), the work developed by the Europe
14、an Central Bank (ECB) through the Working Group on Credit Registers, the work of the International Conference of Data Protection and Privacy Commissioners which has debated the role of privacy and data protection from a broad perspective including credit reporting, the privacy frameworks developed b
15、y The European Union, APEC and OECD, and the work conducted by the European Commission Directorate General on Internal Markets and Services regarding the challenges of cross-border credit data flows in the context of credit reporting.Key Considerations Concerning Credit Reporting and the General Pri
16、nciples8. The key considerations concerning credit reporting systems can be broadly grouped around the following topics: i) data; ii) data processing; iii) governance arrangements and risk management; iv) legal and regulatory environment; and, v) cross-border data flows. The General Principles are organized around these five topics. These five General Principles aim at the following public policy objectives for credit reporting systems: Credit reporting systems should effectively suppor
