General Administration of Quality Supervision, Inspection and Quarantine of the People‘s Republic of China
Latest
GB/T 42339-2023
Introduction
《GB/T 42339-2023 Financial Institution Risk Management Terminology》 is a standard issued by the Standardization Administration of China (SAC) that provides a comprehensive and standardized terminology framework for risk management in financial institutions. This standard aims to enhance the understanding and communication of risk management concepts and practices among financial institutions, regulators, and other stakeholders.
The terminology defined in this standard covers various aspects of risk management, including but not limited to credit risk, market risk, operational risk, liquidity risk, and systemic risk. It provides clear definitions and explanations of key terms, ensuring consistency and accuracy in the interpretation and application of risk management concepts.
By adopting this standard, financial institutions can establish a common language for risk management, facilitating effective communication and collaboration within the industry. It also enables regulators to have a better grasp of the risk management practices and challenges faced by financial institutions, thereby enhancing their supervision and oversight capabilities.
Overall,《GB/T 42339-2023 Financial Institution Risk Management Terminology》 plays a crucial role in promoting standardized risk management practices in the financial sector, fostering transparency, and ultimately contributing to the stability and resilience of the financial system.
GB/T 42339-2023 history
2023GB/T 42339-2023 Risk Management Terminology for Financial Institutions