Page 342 - Invited Paper Session (IPS) - Volume 1

IPS155 Manuel S. V. et al.
5. Concluding Remarks
One of the main objectives of enhancements in the model of information
at Central Banks is to maximize the potential social value of data. According
to the experience of Banco de Mexico, in order to maximize the social value of
information it is necessary to improve its: i) efficiency in its generation, ii)
accuracy, and iii) dissemination.
In the case of Banco de Mexico, the process of generation of derivative
operations information is under revision and enhancement, which has implied
adopting international best practices, improving information security and
increasing the focus on solving user’s needs. From this experience, these
improvements will be adopted into the rest of the information process at
Banco de Mexico.
As was mentioned above, having microdata allows improving the accuracy
of information. In effect, having microdata allows the Banco de Mexico to
check consistency between different information requirements, which in turns
helps improve information quality. In particular, one potential enhancement is
to join diverse data bases allowing an easy identification of parties and
counterparties in different markets, which could be helpful to identify risk
exposures.
Another key aspect is data sharing practices. Banco de Mexico has
improved data sharing agreements and platforms. In this respect, the PIIF, a
relatively new platform of data dissemination, has allowed to share new
statistics under different formats.
These improvements notwithstanding, Banco de Mexico is still working on
data dissemination, specifically in microdata dissemination. In this respect, a
data room is an option to expand microdata dissemination to diverse
audiences.
It is worth mentioning that our final objective of all improvements in the
model of financial information and data sharing practices is to increase the
amount and quality of information in order to do better analysis and to take
better decisions, which as result will maximize the potential social value of
information.

References
1. Banco de Mexico Web page, PIIF
site:http://www.banxico.org.mx/IndicadoresGraficos/actions/portada?loc
ale=en
2. Bank for International Settlements and International Organization of
Securities Commissions (2012) Principles for financial market
infrastructures.

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