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The views expressed herein are those of the author and should not be attributed to the IMF, its Executive Board, or its management The Inter-Agency Group.

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Presentation on theme: "The views expressed herein are those of the author and should not be attributed to the IMF, its Executive Board, or its management The Inter-Agency Group."— Presentation transcript:

1 The views expressed herein are those of the author and should not be attributed to the IMF, its Executive Board, or its management The Inter-Agency Group on Economic and Financial Statistics (IAG) and the G-20 Data Gaps Initiative Alfredo M. Leone Acting Director, Statistics Department Side Event at the 44 th Session of the United Nations Statistical Commission New York, February 25, 2013

2 The IAG and the G-20 Data Gaps Initiative The Data Gaps Initiative International Collaboration Progress to Date Principal Global Indicators Links to other Initiatives The Way Forward Concluding Remarks 2

3 The Data Gaps Initiative 3 Conceptual/statistical framework needs development Conceptual/statistical frameworks exist and ongoing collection needs enhancement Build-up of risk in the financial sector # 3 (Tail risk in the financial system and variations in distributions of, and concentrations in, activity) # 4 (Aggregate Leverage and Maturity Mismatches) # 6 (Structured products) # 2 (Financial Soundness Indicators (FSIs)) # 5 (Credit Default Swaps) # 7 (Securities Data) Cross-border financial linkages # 8 and # 9 (Global network connections and systemically important global financial institutions) # 13 and # 14 (Financial and Nonfinancial Corporations cross ‑ border exposures) # 10 and # 11 (International Banking Statistics (IBS) and the Coordinated Portfolio Investment Survey (CPIS)) # 12 (International Investment Position (IIP)) Vulnerability of domestic economies to shocks # 16 (Distributional Information) # 15 (Sectoral Accounts) # 17 (Government Finance Statistics) # 18 (Public Sector Debt) # 19 (Real Estate Prices) Improving communication of official statistics # 20 (Principal Global Indicators)

4 International Collaboration IAG: BIS, ECB, Eurostat, IMF (chair), OECD, UN, World Bank FSB IMF The initiative involves a great deal of collaboration among international institutions: The initiative involves a great deal of collaboration among international institutions: Work is coordinated by the Inter-Agency Group on Economic and Financial Statistics (IAG). Reporting to the G-20 Finance Ministers and Central Bank Governors is made by the IMF and the FSB. 4

5 Progress to Date 5

6 Principal Global Indicators  A product of the Inter-Agency Group (IAG)  Brings together data for G-20 economies and ten non-G-20 economies with systemic financial sectors  One-stop shop  s.org/default.aspx s.org/default.aspx s.org/default.aspx 6

7 Links to Other Initiatives G-20 Data Gaps Initiative Strengthening International Financial Architecture (TRS) Capital Flows Work SDDS and SDDS Plus G-20 Action Plan to Develop Local Currency Bonds Markets Shadow Banking and Legal Entity Identifiers 7

8 The Way Forward Process IAG ongoing videoconferences Consultations with G-20 economies on implementation G-20 Senior Officials Meeting (mid-2013) Next Progress Report (September 2013) Key Deliverables Implementation of G-SIFIs template Implementation of GFS and sectoral accounts templates Implementation of BIS’s IBS enhancements Implementation of CPIS enhancements 8

9 Concluding Remarks: The View of the G-20 Recognizing the need for adequate statistical resources, we endorse the progress report of the FSB and the IMF on closing information gaps, and in particular look forward to the implementation of the data reporting templates for global systemically important financial institutions. Communiqué of the G-20 Finance Ministers and Central Bank Governors at their meeting in Mexico City on November 5,

10 The views expressed herein are those of the author and should not be attributed to the IMF, its Executive Board, or its management Thank you! 10


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