>> Financial accounts in Denmark The organization of the work and data sources

>> Government finances 2 Head of Division Søren Brodersen Section of general government accounts Section of Public corporations Section of local government accounts Finance Team IT support Financial accounts

>> Finance team  Compile full set of financial accounts on a yearly basis  Consists of 6 employees – each responsible for his/her own sector  Also compiles non-financial accounts for the financial sector 3

>> Division of work between Statistics Denmark and the Central Bank 4 Central Bank of Denmark Quarterly financial accounts Statistics Denmark Yearly financial accounts S.13 S.2 MFI Sec. stat

>> Compilation of financial accounts  Financial accounts for general government (S.13) are compiled by the section of general government accounts  Rest of the world (S.2) are compiled by the Central Bank  Finance team compile financial accounts for the rest of the economy and integrates S.13 and S.2 in order to get a full set of accounts. 5

>> Data sources – Monetary gold and Special drawing rights (SDRs), F.1  Compiled using information from the annual report from the Central Bank Can only occur on the accounts for the Central Bank (S.121) and RoW (S.2). 6

>> Data sources – Currency and deposits, F.2  Main source is MFI-statistics, which has very good counterpart information  RoW-accounts which also contains counterpart information  Material from the Danish Financial Supervisory Authority (mainly for S.125)  Accounts for central and local government (S.13) 7

>> Data sources – Securities other than shares, F.3  Main source is securities statistics, which has very detailed issuer and holder information  RoW-accounts which also contains counterpart information  Material from the Danish Financial Supervisory Authority (mainly for S.125)  Accounts for central and local government (S.13)  Information from the tax-authority  For employee stock options, we get data from the compilers of wage statistics 8

>> Data sources – Loans, F.4  As for deposits our main source is MFI-statistics and annual reports for credit institutions  RoW-accounts which also contains counterpart information  Material from the Danish Financial Supervisory Authority (mainly for S.125)  Accounts for central and local government (S.13)  Statistics for finance companies not in the MFI- sector compiled by the finance team 9

>> Data sources – Shares and other equity, F.5  For quoted shares our sources are very similar to securities other than shares:  Main source is securities statistics, which has very detailed issuer and holder information  RoW-accounts which also contains counterpart information  Material from the Danish Financial Supervisory Authority (mainly for S.125)  Accounts for central and local government (S.13) 10

>> Data sources – Shares and other equity, F.5  For unquoted shares issued by the non-financial sector we use the method recommended by Eurostat and described in Manual on sources and methods for the compilation of ESA 95 financial accounts  Main idea: Market value unquoted shares =(market value quoted shares /own funds quoted shares ) * own funds unquoted shares Own funds we get from business statistics and market value quoted shares we get from securities statistics. 11

>> Data sources – Net equity of households in life insurance and in pension funds reserves, F.61  Main data source is data from the Danish Financial Supervisory Authority  Annual reports for individual companies Can only occur on the asset side of households and RoW and on the liability side for pension, insurance companies and RoW 12

>> Data sources – Prepayments of insurance premiums and outstanding claims, F.62  Main data source is data from the Danish Financial Supervisory Authority  Annual reports for individual companies Can occur on the asset side of all sectors and on the liability side for insurance companies and RoW 13

>> Data sources – Other accounts receivable/payable, F.7  MFI-statistics  RoW-accounts  Material from the Danish Financial Supervisory Authority  Annual reports from companies  Information from the tax-authority  Business statistics  Accounts for central and local government (S.13) 14