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¡¡¡¡The success of an offsite system hinges on several elements. First, the accuracy and timeliness of the data submitted by banks. Second, the technology used to capture the data and compile the comparative ratios, trend analyses and percentile ranks relative to peers. Finally, the analyst makes a judgment based on a variety of financial ratios and trends, and combines the findings to offer compelling evidence of a specific bank¡¯s financial condition. ¡¡

¡¡¡¡Regulation and supervision are one element of the institutional infrastructure for sound banking. In many developing countries, the capacity to evaluate credit risk is hampered by the absence of audited Financial Statements that meet International Auditing Standards. Further, credit markets in developing countries suffer from lack of credit discipline. Poor credit performance is attributable not only to adverse economic conditions, but also to the lack of credit discipline in the system. Many banks, foreign and domestic, involved as creditors had limited knowledge of borrowers¡¯ total loans or total number of creditors. The benefits of transparency are evident and the role of Credit Information Systems essential. ¡¡

¡¡¡¡5. Comprehensive credit auditing¡¡

¡¡¡¡First of all, to thoroughly examine banks¡¯ formal loan policies and the situation how director of management implements them. Next, to evaluate the quality of every single loan provided. The steadiness of loan operation plays an important role in the soundness of the whole banking system. U.S. accounting and auditing standards are central to the integrity of its financial system. They are also important to the Federal Reserve¡¯s efforts to supervise and regulate banking organizations. ¡¡

¡¡¡¡Financial Accounting Standards Board (FASB) standards and proposals affecting banks have been issued at a blistering pace in such areas as loan-loss accounting, asset securitization, mortgage servicing, securities activities, and derivatives. Bankers and examiners have felt the impact of these accounting developments and have seen business strategies and transaction types change as a result. ¡¡

¡¡¡¡The Federal Reserve recognizes that accounting, auditing, and disclosure play a crucial role in the financial marketplace. Accounting standards provide the foundation for credible financial statements and other disclosures that are key means for communicating a firm's operating results and its overall health, as well as for making more transparent various operating activities. Disclosure of reliable information facilitates market discipline, strengthens confidence, and reduces the chance that misleading information could cause market instability. Such results have obvious implications for supervisors' abilities to oversee the safety and soundness of depository institutions and for the Federal Reserve in its responsibilities for financial market stability.¡¡

¡¡¡¡6. Consumer protection¡¡

¡¡¡¡Customers deposit money in a bank, and then the bank makes loans with these deposits to qualified borrowers. Whether a customer deposits money in a bank or applies for a loan, there is a lot of information to consider. For instance, let¡¯s say you deposit money into a savings account at a local bank. What minimum balances are you required to keep? Also, are you charged a penalty if your account falls below the minimum amount? When you apply for a loan for a used car, do you know if the interest rate is allowed to vary, or is it fixed for the life of the loan? If it is allowed to vary and interest rates go up, the total amount of interest you owe will increase.¡¡

¡¡¡¡Banks are required to provide customers clear and accurate information about services, such as savings accounts, loans and credit cards. For example, a bank¡¯s brochure for a savings account should include information on any minimum balance required, monthly service fee and the average percentage yield. In addition, the Truth in Lending Act requires banks to disclose the finance charge and the annual percentage rate so that a consumer can compare the prices of credit from different sources. It also limits liability on lost or stolen credit cards. These laws ensure that consumers and banks make decisions based on the same information.¡¡

¡¡¡¡If consumers have a complaint about a financial institution they can contact the Federal Reserve. Together with the twelve Federal Reserve Banks, the Board of Governors can answer questions about banking practices and investigate complaints about specific banks under its supervisory jurisdiction.¡¡

¡¡¡¡7. Community Reinvestment ¡¡

¡¡¡¡At the time the Community Reinvestment Act (CRA) was passed in 1977, the banking industry and community groups were concerned about ¡°redlining¡± or the refusal of a bank to lend money to low-income communities, while, at the same time, accepting deposits from those areas. CRA requires that financial institutions help meet the credit needs of their entire communities, including low-and moderate-income areas. Examiners review the bank¡¯s lending in its community, such as the number and amount of loans made to low-, middle- and upper-income borrowers. CRA provides the bank flexibility in meeting requirements, such as allowing a bank to define its community and how to determine the credit needs of the low-and middle-income neighborhoods. Rebuilding and revitalizing communities through sound lending and good business judgment benefits both communities and banks. ¡¡

¡¡¡¡IV. Banking Supervision in China¡¡

¡¡¡¡Regulations and execution of Chinese banking supervision¡¡

¡¡¡¡China¡¯s entry into WTO has put forward a higher requirement to Chinese banking supervisory regulations. How to perfect the banking regulation law is the first task of the China Banking Regulatory Commission (CBRC). Standardized and systemic legislation should be paid more intension to perfect the banking supervisory regulations system, improve the supervisory skills and the overall quality of personnel in order to adapt the development of new situation. ¡¡

¡¡¡¡The year of 1995 is known as the year of financial lawmaking. China successively passed The Law on People¡¯s Bank of China and The Law of the People¡¯s Republic of China on Commercial Banks , indicating China¡¯s banking supervisory law system initially formed. They become the core of China¡¯s banking supervisory system. In addition, except them, the current system still comprises the administrative regulations issued by State Council and bank supervisory regulations issued by the People¡¯s Bank of China . From the form¡¯s point of view, it seems perfect for China¡¯s banking supervisory law system. However, in the practice, many circumstances exist like overlapping of regulations, lacking in harmony and incompatibility. ¡¡

¡¡¡¡After China¡¯s entry into WTO, foreign banks and financial institutions come into China constantly, which will not only change China¡¯s current financial institutions, but also affect the actual financial functional regulations. The international development of banking supervisory regulations will be the necessary option for high-quality and effective supervisory framework. The regulations should be revised to meet the new requirements. ¡¡

¡¡¡¡On Aril 28th 2003, China Banking Regulatory Commission (CBRC) was formally established. The establishment of CBRC is a milestone of China¡¯s financial system reform. The main functions of CBRC are as follows: 1) Formulate supervisory rules and regulations governing the banking institutions; 2)Authorize the establishment, changes, termination and business scope of the banking institutions; 3) Conduct on-site examination and off-site surveillance of the banking institutions, and take enforcement actions against rule-breaking behaviors; 4) Conduct fit-and-proper tests on the senior managerial personnel of the banking institutions; 5) Compile and publish statistics and reports of the overall banking industry in accordance with relevant regulations 6) Provide proposals on the resolution of problem deposit-taking institutions in consultation with relevant regulatory authorities; 7) Responsible for the administration of the supervisory boards of the major State-owned banking institutions; and Other functions delegated by the State Council. ¡¡