1. Financial Accounts: Practice for Turkey National Seminar on Developing a Program for the Implementation of the 2008 SNA and Supporting Statistics in Turkey Ankara, 10th of September 2013 Burcu ÇAKMAK Central Bank of Republic of Turkey Statistics Department

2. 2 CONTENT Overview Classifications Data Sources Current Situation Future Work

3. OVERVIEW 2003 Investigation and research 2004 IMF Flow of Funds for DC sector 2005 ESA95 FA for DC Sector 2006 CBRT as coordinator of FA in Off. Stat. Prog. 2007 Transmission to OECD and Eurostat beg. From 2005 data. 2008 Establishment of FAWG 2008 onwards Studies to produce FA for other sectors 3 / 19 TIMELINE FOR FA COMPILATION

4. OVERVIEW A technical working group for compilation of financial accounts in 2008. All stakeholder agencies are members Working on the compilation of general government and insurance companies financial accounts. No written protocol between agencies but OSP. 4 / 19

5. 5 OVERVIEW Division of Responsibilities under OSP:

6. 6 IMF Manual on Monetary and Financial Statistics 2000 European System of National Accounts (ESA 95) Institutional Sector List prepared by the CBRT CLASSIFICATIONS

7. 7 Institutional Sectors: General Government - Central Government - Local Government - Social Security Institutions Non-Financial Corporations (private and public) Financial Corporations - CBRT - Banks - Insurance Companies and Pension Funds - Financial Intermediaries - Financial Auxiliaries Households and NPISHs Rest of the World CLASSIFICATIONS

8. 8 S121. Central Bank S122. Other MFI S123. Other Fin. Interm. S124. Finan. Auxiliaries S125. Insurance Comp. & Pensions S121. Central Bank S122. Other MFI S123. Money Market Funds CBT Classification: SNA 2008: S125. Other Financial Intermediaries S124. NonMMF Inv. Funds S124. Finan. Auxiliaries S128. Insurance Companies S129. Pension Funds

9. 9 DATA SOURCES Monetary Financial Institutions: Banks Supervisory Reporting Package under Uniform Chart of Accounts of BRSA Statistical Reporting Forms of CBT Central Bank: Detailed balance sheet accounts based on UFRS

10. 10 DATA SOURCES Financial Intermediaries: Non-bank Financial Institutions Supervisory Reporting Package based on Uniform Chart of Accounts of BRSA Data on Investment Funds compiled from Capital Market Board

11. 11 DATA SOURCES Financial Auxiliaries: Balance Sheet of Savings Deposit Insurance Fund Reporting Forms of dealer companies compiled by Capital Market Dealers Association Insurance Companies and Pension Funds: Reporting Forms of insurance companies and pension funds compiled by Treasury

12. 12 DATA SOURCES

13. 13 DATA SOURCES

14. 14 CURRENT SITUATION Quarterly S121. Monetary and Financial Institutions S123. Financial Intermediaries S124. Financial Auxiliaries S125. Insurance Companies and Pension Funds Annual S13. General Government

15. 15 CURRENT SITUATION Non-consolidated Stock Tables for: Central Bank Other Monetary Financial Institutions Financial Intermediaries Financial Auxiliaries Insurance Companies and Pension Funds Central Government Local Government Non-consolidated Flows for: Central Bank Other Monetary Financial Institutions Consolidated Stock and Flow Tables for: Central Bank Other Monetary Financial Institutions

16. CURRENT SITUATION Steps for FA Compilation: 1.Identify accurate data sources 2.Convert into ESA codes 3.Derive stock data 4.Compile counterpart info 5.Consolidation 6.Derive flow data 16 / 19

17. CURRENT SITUATION 17 / 19 Compilation Steps by Sectors Financial Corporations Non- Financial Corp. Step 3 Households Step 1 Non- Profit Inst. Serving HH Step 1 Rest of the World Step 1 General Govern. Step 4 Central Bank Step 6 Other Monetary Financial Inst. Step 6 Financial Intermed. Step 4 Financial Auxiliaries Step 4 Insurance Companies & Pension Funds Step 4 CBRT is in charge. Data are available and regularly reported to OECD and Eurostat. MoF and Treasury are in charge. Compilation studies are continuing. CBRT (with Turkstat for Non-Financial Corporations) is in charge. Compilation studies are continuing. CBRT is in charge. Compilation studies are continuing.

18. FUTURE WORK Financial Corporations (2013,CBRT) Insurance Corporations and Pension Funds (2013,UT) General Government (2012-2014;UT,MOF) HH (2014,CBRT) Nonfinancial Corporations (2013-2014;CBRT,Turkstat) ROW (2014,CBRT) FA-Whole Economy (2015) 18 / 19

19. THANK YOU 19 / 19

20. Financial Accounts: Practice for Turkey National Seminar on Developing a Program for the Implementation of the 2008 SNA and Supporting Statistics in Turkey Ankara, 10th of September 2013 Central Bank of Republic of Turkey Statistics Department