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Eurostat financial database and what we can learn from it.
OECD - FS Working Party2-4 November 2009
Eurostat / Ismael Ahamdanech Zarco
Financial Accounts in Eurostat
Legal Framework
Data collection
Integrated annual accounts
Some interesting figures
Future developments
Legal Framework
ESA95 Transmission Programme Both documents are binding for the Member States.
Moreover, other documents explain and give guidance on compilation, such as the Manual on Sources and Methods for the Compilation of ESA95 Financial Accounts
Data collection Compulsory data Voluntary data
Integrated Annual Accounts
To understand interrelations in an economy it is necessary to analyze both real and financial aspects.
For this reason, increasing attention is paid to integrated national accounts.
Eurostat publishes Annual accounts by institutional sector where data above and below the line are presented together in an integrated manner.
Similar approach to the Eurostat/ECB joint project on Euro area accounts (see presentation tomorrow) Related to flow of funds approach
date of transmission of non financial account: 27/08/2009
B.8n / B.12 Net saving / current external balance 21002 -10237 31239 5147 2003 3759 20330
21663 -1801 2047 9397 31306 -10304 21002 B.10.1Changes in net worth due to saving and capital transfers
B.10.1Changes in net worth due to saving and capital transfers
21002 -10304 31306 9397 2047 -1801 21663
15651 -1301 2087 -6277 10159 -10159 0 B.9 Net lending (+) / net borrowing (-)
BF.90 Net financial assets (+) / liabilities (-) 5273 29862 -24589 -255535 5825 -83095 308216
B.9 Net lending (+) / net borrowing (-) (from capital accounts)0 -10159 10159 -6277 2087 -1301 15651
B.9 - B.9F Statistical discrepancy 0 -2024 2024 1141 478 458 -54
B.9F Net lending (+) / net borrowing (+) from financial accounts0 -8135 8135 -7419 1609 -1760 15705
B.10.2+B.10.3 Other changes in net worth 524 3446 -2922 43002 -15172 -7373 -23378
BF.90 Net financial assets (+) / liabilities (-) 5814 25189 -19375 -219952 -7739 -92227 300543
OTHER CHANGES IN FINANCIAL ASSETS AND LIABILITIES ACCOUNT
CLOSING FINANCIAL BALANCE SHEET
Households including NPISH
(S.14+S.15)
OPENING FINANCIAL BALANCE SHEET
FINANCIAL TRANSACTIONS ACCOUNT
Total economy
(S.1)
Non-financial corporations
(S.11)
Financial corporations
(S.12)
General government
(S.13)
Rest of the World (S.2)
Sum over sectors
(S.1+S.2)
Sum over sectors
(S.1+S.2)
Rest of the World (S.2)
ACQUISITION OF NON-FINANCIAL ASSETS ACCOUNT
(Changes in ) Financial assets
Financial accounts
(Changes in ) Liabilities and net financial assets
Households including NPISH
(S.14+S.15)
General government
(S.13)
Financial corporations
(S.12)
Non-financial corporations
(S.11)
Total economy
(S.1)
Financial corporations
(S.12)
General government
(S.13)
Households including NPISH
(S.14+S.15)
CHANGE IN NET WORTH DUE TO SAVING AND CAPITAL TRANSFERS ACCOUNT
Sum over sectors
(S.1+S.2)
Rest of the world (S.2)
Total economy
(S.1)
Non-financial corporations
(S.11)
Capital transfers payable and changes in non-financial assets
Capital accountsSaving and capital transfers receivable
Households including NPISH
(S.14+S.15)
General government
(S.13)
Financial corporations
(S.12)
Non-financial corporations
(S.11)
Total economy
(S.1)
Rest of the World (S.2)
Sum over sectors
(S.1+S.2)
ANNUAL ACCOUNTS BY INSTITUTIONAL SECTOR
2008(million euros, current prices)
Some interesting figures (i)
Households’ Net Financial Assets (BF90) (2005 = 100). NC
0
20
40
60
80
100
120
140
BE DK DE IE GR ES FR HU NL AT PT SK FI SE NO
2005 2006 2007 2008
Some interesting figures (ii)
Households’ net Financial Transactions. Liabilities of F4 (loans). (2005 = 100). NC
0
50
100
150
450
500
550
BE DK DE IE GR ES FR HU NL AT PT SK FI SE NO
2005 2006 2007 2008
Some interesting figures (iii)
Households’ Other Economic Flows in financial assets (2005 = 100). NC
For the sake of clarity, data for BE, DE, IE, GR, ES, FR, HU, NL, PT, SK, SE and NO have been censured
Some interesting figures (iv)
General Governments’ Stocks of total Liabilities (2005 = 100). NC
0
20
40
60
80
100
120
140
160
180
BE DK DE IE GR ES FR HU NL AT PT SK FI SE NO
2005 2006 2007 2008
Some interesting figures (v)
Non Financial Corporations’ transactions in F7 Liabilities (EUR m). NC
70000
60000
50000
20000
10000
0
-10000
-20000
BE DK DE IE GR ES FR HU NL AT PT SK FI SE NO
2005 2006 2007 2008
Some interesting figures (vi)
Financial Corporations’ Stocks of Liabilities in F5 (2005=100). CO
0
20
40
60
80
100
120
140
160
180
BE DK DE GR ES FR HU NL AT PT SK FI SE NO
2005 2006 2007 2008
Some interesting figures (vii)
Financial Corporations’ transactions in Assets of F4 (2005 = 100). CO
0
100
200
300
1100
1200
1300
1400
BE DK DE GR ES FR HU NL AT PT SK FI SE NO
2005 2006 2007 2008
Some interesting figures (viii)
Financial Corporations’ Other Economic Flows in assets (2005 = 100). CO
For the sake of clarity, data for FR, HU, PT, SK, SE and NO have been censured
-450
-350
-250
-150
-50
50
150
250
350
BE DK DE GR ES FR HU NL AT PT SK FI SE NO
2005 2006 2007 2008
Future Developments
Reliable and timely data for policymakers: lessons from financial crisis
New ESA is being drafted – proposal made in 2010; to come into force in 2014
New Transmission Program (to came into force in 2014) is being discussed:– Importance of split of OEF into Nominal Holdings Gains
and Losses and Other Changes in Volume– Importance of counterpart data
Integration of financial and non financial accounts
For more information:
=>http://epp.eurostat.ec.europa.eu/portal/page/portal/eurostat/home (Eurostat Web Page)
=>http://epp.eurostat.ec.europa.eu/portal/page/portal/statistics/search_database (Eurostat DataBase)