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