The People's Bank of China Officially Released Two Financial Industry Standards
The People's Bank of China officially released two financial industry standards, the Specification for Description of Bond Price Indicator Products (JR/T 0229-2021) and the Specification for Data Collection of Bond Price Indicator Products (JR/T 0230-2021).
The Specification for Description of Bond Price Indicator Products specifies the scope of each element of bond price indicator products, clarifies the definition and output caliber of each element, ensures consistency in the application of various types of output data, and helps to improve the benchmark, fairness and product quality of bond price indicator products. By clarifying the product elements, it helps to reduce the cost of using bond price indicator products for market participants, improve the efficiency of the industry, and enhance the ability of product users to use price indicator products for bond pricing, risk management and investment.
The Specification for Bond Price Indicator Product Data Collection specifies the bond information data elements relied upon in the preparation of bond price indicator products, proposes a conceptual data model for bonds, clarifies the timeliness requirements and collection caliber of data elements, and ensures the consistency and accuracy of bond information when input into the price indicator production model. This standard helps improve the quality of bond price indicator products, realize industry data sharing, reduce the cost of bond pricing system construction, and lay the data foundation for bond market information sharing.
By the end of 2020, the custodian balance of China's bond market reached 117 trillion yuan.
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