Presentation on theme: "European Statistics provided by the ECB"— Presentation transcript:
1 European Statistics provided by the ECB Werner Bier,Per Nymand-AndersenEuropean Central BankCommittee for the Coordination of Statistical Activities (CCSA)Twentieth Session, Frankfurt, September 2012
2 Outline European statistics Core ESCB Statistics European Union Member StatesEuro areaSpecial statusDerogationEuropean statisticsCore ESCB StatisticsFuture challenges in statisticsConclusion
3 The European statistical architecture ECB & 27 NCBsEurostat & 27 NSIsgeneral economic statistics including;HICPs, prices and costsdomestic and national output, expenditure and incomemoney, banking, financial markets statisticsinternational reserveseffective exchange ratesquarterly financial accountsShared: (i) balance of payments statistics; (ii) international investment position statistics; (iii) financial and non-financial accounts; (iv) statistical infrastructureBased on a Memorandum of Understanding (March 2003)Cross-participation in Committee work and substructures
4 European statistics provided by the ESCB 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 ESCBECB RegulationsDirectly applicable on economic agents – firmsECB GuidelinesBinding on central banksMerits and cost procedures for all new statistics (benefit & cost analysis)
5 European statistics provided by the ESCB Supplemented by statistics from international organisations, surveys, market information and ad hoc collectionsThe ECB and the 27 NCBs work in a strong governance structureDevelops new statistics and statistical methods and prepares legal actsNCBs collect statistics on the basis of ECB legal acts and submit harmonised datasets to the ECBECB produces and releases (mainly) euro area statistics
6 European statistics provided by the ESCB Monetary & financial market statisticsMonetary aggregates and counterpartsBalance sheet statistics of banks, investment funds, financial vehicle corporations and insurance corporations and pension fundsBanks interest rates statisticsSecurities statistics, payments and securities settlement statistics, financial markets price and volume statistics, yield curves,Financial stability statistics, Securitisation (vehicle) statistics,External statisticsBalance of payments, international investment position (including international reserves),Effective exchange rates, international role of the euro
7 European statistics provided by the ESCB Financial and non-financial euro area accountsIntegrated quarterly accounts by institutional sector covering transactions, other flows and balance sheetsGovernment finance statisticsRevenue, expenditure, deficit, debt, deficit-debt adjustmentsGeneral economic statisticsHICP, residential property price indicator, short-term indicators, labour market statisticsSurveysAccess to finance of Small and Medium Enterprises
8 Policy on the free reuse of ESCB statistics 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 2012The 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 useLink to ECB web-site with common policy statement
9 Future challenges in ESCB European statistics Monetary policy Well developed More granularityFinancial stability analysis and support to the ESRB
11 Future challenges in ESCB European statistics Data needs for ECB’s new supervisory role for the Banking Union (6.119 banks, July 2012)e.g. banking structures, solvency ratios, liquidity measures, outlookDeveloping more micro-level information sourcese.g. security-by-security & holdings information, loan-by-loan dataEnhance the integrated framework of euro area accountse.g. whom-to-whom, more detailed sector classification, country coverage, timeliness, flows and stocks reconciliationsIntroducing the ESA 2010/BPM6 in ESCB statistics
12 Future challenges in ESCB European statistics International engagementsi.e. UNSC, CCSA, G20, IAG, BIS, OECD, IMF, SDMXNew approaches for communicating statisticsi.e. user centric approach, two-way engagements, visualisations, video, statistics scientific publications, user friendly web-sitesGoverning CouncilJournalists/MediaFinancial analystsResearch/AcademiaGeneral publicData VendorsPolicy Advisers
14 Supplement – CCSA on Wikipedia 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 UNSDCCSA members are invited to test the CCSA entry on Wikipedia andCCSA members are encourage to provide a hyperlink to the CCSA website as hosted by UNSD.
16 Supplement – ISI Conference 59th World Statistics Congress25-30 August 2013 Hong Kong, ChinaCo-organised by the Census and Statistics Department of the Government of Hong Kong and the ISI (International Statistics Institute).