Officials in charge of relevant departments of the China Banking and Insurance Regulatory Commission answer questions from journalists on the "Commercial Bank Market Risk Management Measures."

The "Measures" consist of five chapters and forty-three articles, the main content includes: first, clarifying the definition of market risk. Clarify the scope of application of the "Measures", no longer including content related to bank book interest rate risk, strengthen the connection with the "Capital Measures" and the "Comprehensive Risk Management Guidelines for Banking Financial Institutions." Second, emphasize the improvement of the market risk governance framework. Clarify the responsibilities of the board of directors, supervisors, and senior management, define the specific scope and responsibilities of the three lines of defense, and emphasize that banks should strengthen market risk management at the group consolidation level. Third, refine the market risk management requirements. Require banks to manage market risk throughout the entire process, refine risk identification, quantification, monitoring, control, and reporting requirements. Improve the definition of internal models and requirements for model management and stress testing, matching the current market risk measurement framework and management practices.