tailieunhanh - People’s Republic of China: Financial System Stability Assessment

This study does not examine the relationship between credit scores and the likelihood of insurance losses. Regulators and consumer groups have expressed growing concern that use of credit scores may restrict the availability of insurance products in predominantly minority and low income communities, markets that already show signs of significant affordability and access problems (Kabler, 2004). Components common to most scoring models have been made public: high debt to limit ratios, derogatory items such as collection actions, liens, and foreclosures, the number of loan and credit card applications, and the. | 2011 International Monetary Fund November 2011 IMF Country Report No. 11 321 People s Republic of China Financial System Stability Assessment This financial sector stability assessment on the People s Republic of China was prepared by a staff team of the International Monetary Fund as background documentation for the periodic consultation with the member country. It is based on the information available at the time it was completed on June 24 2011. The views expressed in this document are those of the staff team and do not necessarily reflect the views of the government of the People s Republic of China or the Executive Board of the IMF. The policy of publication of staff reports and other documents by the IMF allows for the deletion of market-sensitive information. Copies of this report are available to the public from International Monetary Fund Publication Services 700 19th Street . Washington . 20431 Telephone 202 623-7430 Telefax 202 623-7201 E-mail publications@ Internet http International Monetary Fund Washington . INTERNATIONAL MONETARY FUND PEOPLE S REPUBLIC OF CHINA Financial System Stability Assessment Prepared by the Monetary and Capital Markets and Asia and Pacific Departments Approved by José Vinals and Anoop Singh June 24 2011 This report is based on the IMF World Bank Financial Sector Assessment Program FSAP exercise for China undertaken during June-December 2010. The assessment concluded that reforms have progressed well in moving to a more commercially-oriented financial system. Despite success and rapid growth China s financial sector is confronting several near-term risks structural challenges and policy-induced distortions. The main sources of risks are i the effects of a rapid crisis-related credit expansion on credit quality ii growing off-balance sheet exposures and disintermediation iii a reversal in rapidly rising real estate prices and iv an increase in imbalances due to the current economic growth pattern. .