Promoting Credit Reporting Standards in APEC by Dong Hongxing, Experian Presentation for Meeting of the Advisory Group on APEC Financial System Capacity-Building Hangzhou, China August 2008 Asia-Pacific Credit Coalition
2 The Asia Pacific Credit Coalition, an affiliate of the non-profit Political and Economic Research Council (PERC), is committed to The promotion of standards within APEC Showing value proposed reporting standards In pursuit of goal, APCC Hosts seminars with national regulators and policy makers. Reaches out to APEC staff, media, industry execs and governments Research in support About APCC
3 Support the standard of full-file (positive and negative payment) and comprehensive (across many sectors) reporting to a private bureau based on results that it: increases lending to the private sector, low-income groups, women; and, results in better loan performance. Policy Position for Common Standard (I)
4 Develop standard that meets OECD data protection guidelines, providing to data subjects rights of: notice choice access (subjects have control over access, and access restricted to parties with permissible purpose) Dispute Correction Ensures that only responsible and experienced actors such as Experian will collect and maintain the data Policy Position for Common Standard (II)
5 What You Can Do (I) Assuming that ABAC endorses standard, APCC suggests becoming proactive by helping: garner support by, e.g.: becoming active in the adoption of new Australian reporting system work with Australia coalition develop picture of the state of reporting to see where assistance is in reform, examples: New Zealand Korea Japan Hong Kong (mortgage reporting)
6 What You Can Do (II) Help raise awareness among your peers in your industries and economies, e.g., at: Asian Bankers Association/ABAC/Pacific Economic Cooperation Council (PECC)/SEACEN Public-Private Dialogue in Kuala Lumpur, Malaysia, August Asian Bankers Association Annual Meeting and Conference in Bangkok, Thailand on October 31
For more information, contact Dr. Michael Turner Asia-Pacific Credit Coalition Phone: ext. 801