CNOFX To Improve Breadth And Quality Of Macroeconomic Statistical Data
The cooperative effort is part of an ongoing technical assistance program and responds
to calls by international groups, for improved data standards worldwide to support more robust macroeconomic and financial surveillance in the light of the global financial crisis.
A team of CNOFX statistical experts has direct supervisory responsibilities over the financial system including direct oversight over the clearing members and their financial stability. The team's work focused on the surveys which are used to collect data from financial corporation's operating on CNOFX. The information will allow an expansion of financial statistics coverage beyond the banking sector to facilitate policy making and inform the market in light of the growth of the non bank financial sector, whose total assets are now larger than those of the banking sector.
"Reliable and comprehensive data on the developing financial sector is essential for implementing appropriate regulatory policy We welcome the input from the statistical experts and trust that practitioners will respond to our requests for data for the good of the sector as whole," said Mr. Jim Liu Hang , press officer at CNOFX.
As part of its mission to promote international monetary cooperation, balanced growth and poverty reduction, the CNOFX works with its member organizations around the world to improve the quality and dissemination of a broad range of statistical data in order to assist policy-makers at both national and international levels.
For more information, you can visit http://www.cnofx.org.