1. PARIS LA DEFENSE TOUR EUROPE 11-12 October 2004
WORKING PARTY ON FINANCIAL STATISTICS OECD 2004 OCDE GROUPE DE TRAVAIL SUR LES STATISTIQUES FINANCIERES
PARIS LA DEFENSE
TOUR EUROPE
11-12 October 2004

2. THE NEW FINANCIAL ACCOUNTS DATABASE
Working Party on Financial Statistics
11-12 October 2004
by Michèle Chavoix-Mannato, OECD/NAFS

3. M A I N O B J E C T I V E S Developments since October 2003
Publications
Future work

4. Developments since October 2003
Focusing on financial flows and stocks
Focusing on the quality of data provided
Collecting methodological information

5. INVENTORY Financial Accounts Flows
23 countries
16 both consolidated and non-consolidated
4 only consolidated
3 only non-consolidated

6. INVENTORY Financial Balance Sheets Stocks
21 countries
15 both consolidated and non-consolidated
3 only consolidated
3 only non-consolidated

7. Financial Instruments
F2 no sub-instrument for 4 countries
F3 no sub-instrument for 4 countries
F4 no sub-instrument for 7 countries
F5 no sub-instrument for 9 countries
F6 no sub-instrument for 6 countries
F7 no sub-instrument for 6 countries

8. Institutional Sectors
Data provided for most sectors and sub-sectors
with exceptions
Sub-sectors regrouped
S121 & S122: GER, U-K, ITA
S123 & S124: AUS, CAN, MEX, SVK, SWE, USA
S1311 & S1312 & S1313: GER
S1312 & S1313: AUS, USA
Sub-sector included in another sector
S124: BEL (in S11)
Sectors not available
S124: GER, U-K, KOR
S1313: MEX
S1314: AUS, U-K, NOR, USA

9. P u b l i c a t i o n s Volume IIIa:
Financial Accounts of OECD Countries
Flows
Volume IIIb: Financial Balance Sheets of OECD Countries
Stocks

10. Statistical data
Cross tables presenting transactions and stocks as matrices: “institutional sectors” as columns and “financial instruments” as rows, for 2002 (with a few exceptions), for most institutional sectors : S.11, S.12 and its sub-sectors, S.13, S.1311, S.14+S.15, S.1 and S.2
Historical tables in the form of time series from 1991 to 2002 when available, for a number of institutional sectors: S.11, S.12, S.13, S.1311, S.14+S.15, S.1 and S.2

11. Methodological information
Instruments
Sectors
Consolidation
Unit
Source

12. Future work Methodological survey Other possible development
New joint OECD/Eurostat questionnaires
Methodological survey
Other possible development

13. New joint OECD/Eurostat questionnaires
Tables currently requested
Financial Accounts by sector (transactions), CO and NCO
Financial Balance Sheets (stocks), CO and NCO
New tables
Other Changes in volume, NO and NCO
Revaluation Accounts, NO and NCO
Financial Accounts, with counterpart information, NCO
Financial Balance Sheets, with counterpart information, NCO

14. Recommendation 1
All OECD member countries are invited to focus on transactions and stocks of financial assets and liabilities.
Countries that have supplied only part of their financial accounts and/or balance sheets are especially requested :
To submit both non-consolidated and consolidated data;
To submit both financial accounts (transactions) and financial balance sheets (stocks).

15. Methodological survey
Importance of detailed information on methodological aspects of financial accounts to ascertain the quality of data and to undertake analyses and international comparisons
Need to collect information on the treatment of instruments, on the coverage of sectors and on the consolidation methods by the mean of a methodological survey (reference SNA93/ESA95)

16. Recommendation 2
The OECD member countries are invited to make their views known on the following suggestion:
Countries would post standardised methodological information about the financial accounts on their Internet sites and update it regularly.
The OECD would use an automated procedure to compile this information and to publish it.

17. Other possible development
In the context of the pilot-project on households’ financial assets, it is proposed to add a yearly table which includes a more detailed nomenclature of two financial instruments (F52 and F61), based on the risk borne by households.
However, to better estimate households’ wealth, it would be necessary to also know the non-financial assets they hold

18. Recommendation 3
Given the usefulness of ascertaining the value of non-financial assets, for the household sector in particular, the OECD Secretariat recommends that a request for this information be added to the special table to be discussed under Item 5 of the agenda.

19. Conclusions
Thanks to you,
the OECD Financial Accounts database has been developped and publications have been issued.
New efforts will be requested to improve not only the quality and quantity of data provided, but also the methodological information which is necessary to accompany data.
THANK YOU