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European Statistics provided by the ECB Werner Bier, Per Nymand-Andersen European Central Bank Committee for the Coordination of Statistical Activities (CCSA) Twentieth Session, Frankfurt, 17-19 September 2012
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  • European Statisticsprovided by the ECB

    Werner Bier,

    Per Nymand-Andersen

    European Central Bank

    Committee for the Coordination of Statistical Activities (CCSA)

    Twentieth Session, Frankfurt, 17-19 September 2012

  • Outline

    European statistics

    Core ESCB Statistics

    Future challenges in statistics

    Conclusion

    Euro area

    Special status

    Derogation

  • The European statistical architecture

    ECB & 27 NCBs

    Eurostat & 27 NSIs

    money, banking, financial markets statisticsinternational reserveseffective exchange ratesquarterly financial accounts

    general economic statistics including;HICPs, prices and costs domestic and national output, expenditure and income

    Shared: (i) balance of payments statistics; (ii) international investment position statistics; (iii) financial and non-financial accounts; (iv) statistical infrastructure

    Based on a Memorandum of Understanding (March 2003)

    Cross-participation in Committee work and substructures

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  • European statistics provided by the ESCB

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    ECB is a Supranational organisationThe Treaty provides ECB with the competence to collect the full set of information needed to perform the tasks of the ESCB ECB Regulations

    Directly applicable on economic agents firms

    ECB Guidelines

    Binding on central banks

    Merits and cost procedures for all new statistics (benefit & cost analysis)

  • The ECB and the 27 NCBs work in a strong governance structure

    Develops new statistics and statistical methods and prepares legal acts

    NCBs collect statistics on the basis of ECB legal acts and submit harmonised datasets to the ECB

    ECB produces and releases (mainly) euro area statistics

    Supplemented by statistics from international organisations, surveys, market information and ad hoc collections

    European statistics provided by the ESCB

    *

  • Monetary & financial market statistics

    Monetary aggregates and counterparts

    Balance sheet statistics of banks, investment funds, financial vehicle corporations and insurance corporations and pension funds

    Banks interest rates statistics

    Securities statistics, payments and securities settlement statistics, financial markets price and volume statistics, yield curves,

    Financial stability statistics, Securitisation (vehicle) statistics,

    External statistics

    Balance of payments, international investment position (including international reserves),

    Effective exchange rates, international role of the euro

    European statistics provided by the ESCB

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  • Financial and non-financial euro area accounts

    Integrated quarterly accounts by institutional sector covering transactions, other flows and balance sheets

    Government finance statistics

    Revenue, expenditure, deficit, debt, deficit-debt adjustments

    General economic statistics

    HICP, residential property price indicator, short-term indicators, labour market statistics

    Surveys

    Access to finance of Small and Medium Enterprises

    European statistics provided by the ESCB

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  • *

    Common policy regarding the reuse of European System of Central Banks (ESCB) statisticsPolicy statement released on the central banks web-sites on Monday 3 September 2012 The ESCB is committed to providing its statistics free of charge as a public good of high quality irrespective of any subsequent commercial or non-commercial use

    Link to ECB web-site with common policy statement

    www.ecb.europa.eu/stats/html/escbstats.en.html

    Policy on the free reuse of ESCB statistics

  • *

    Future challenges in ESCB European statistics

    Monetary policy Well developed More granularity Financial stability analysis and support to the ESRB

  • *

    Future challenges in ESCB European statistics

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    Future challenges in ESCB European statistics

    Data needs for ECBs new supervisory role for the Banking Union (6.119 banks, July 2012)

    e.g. banking structures, solvency ratios, liquidity measures, outlook

    Developing more micro-level information sources

    e.g. security-by-security & holdings information, loan-by-loan data

    Enhance the integrated framework of euro area accounts

    e.g. whom-to-whom, more detailed sector classification, country coverage, timeliness, flows and stocks reconciliations

    Introducing the ESA 2010/BPM6 in ESCB statistics

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  • *

    Future challenges in ESCB European statistics

    International engagements

    i.e. UNSC, CCSA, G20, IAG, BIS, OECD, IMF, SDMX

    New approaches for communicating statistics

    i.e. user centric approach, two-way engagements, visualisations, video, statistics scientific publications, user friendly web-sites

    Governing Council

    Journalists/Media

    Financial analysts

    Policy Advisers

    Data Vendors

    General public

    Research/Academia

  • Supplements

  • *

    Committee for the Coordination of Statistical Activities is now live on Wikipedia LinkDescription of the CCSA mandateListing of the CCSA members with hyperlinksLinks to the CCSA web-page as hosted by the UNSD

    CCSA members are invited to test the CCSA entry on Wikipedia and

    CCSA members are encourage to provide a hyperlink to the CCSA website as hosted by UNSD.

    Supplement CCSA on Wikipedia

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    Supplement free reuse of statistics

  • *

    Supplement ISI Conference

    59th World Statistics Congress

    25-30 August 2013 Hong Kong, China

    Co-organised by the Census and Statistics Department of the Government of Hong Kong and the ISI (International Statistics Institute).

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