1. WPFS PROGRAMME OF WORK 2009-2010
WPFS October 2008
by Michèle Chavoix-Mannato
OECD/STD

2. Process
Questionnaire sent to WPFS Delegates, using the written procedure March 2008
Draft WPFS Programme of Work submitted to CMF Delegates April 2008
Final WPFS Programme of Work before transmission to the Council October 2008

3. CMF conclusions (April 2008)
The Committee on Financial Markets (CMF)
Discussed the CMF draft Programme of Work, and took note of the draft POW by its Working Parties (WPDM and WPFS [DAF/CMF(2008)10/ADD1]
Agreed to, by 28 April 2008 and via the written procedure, submit comments on and respond to issues for discussion in DAF/CMF(2008)10/ADD1
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No comment has been received yet

4. In-Depth Evaluation of the CMF and its Working Parties
Recommandation n°6
Recommandation n°4
Particular attention should be paid to WPFS and to the place of its Statistics and Indicators products and related methodological developments in the priorities of the CMF **** Co-ordination mechanisms still to be enhanced
The WPFS should pursue its efforts with other relevant International Organisations towards the development of a shared vision of the various roles and responsibilities in the area of financial statistics **** To be continued

5. Chile, Estonia, Israel, the Russian Federation, Slovenia
Accession Process
The WPFS is expected to contribute to the accession process for five countries:
Chile, Estonia, Israel, the Russian Federation, Slovenia
and to develop a roadmap to provide an assessment of their statistical situation.
Messages and statistical and methodological questionnaires have been sent by DAFE to these five countries on 15 May 2008.
First replies have been received from Chile and Slovenia.

6. 2009-2010 WPFS Programme of Work
Collection and dissemination of comprehensive FINANCIAL statistics
Harmonisation of national statistics across countries
Co-ordination with relevant international organisations
Enhanced engagement of key non-members

7. Ranking (1) Collection and dissemination of comprehensive FINANCIAL statistics
Financial accounts and balance sheets
Continuous improvement
Historical data
Quarterly data
Households’ wealth
Enhancement of data and possible extension
Bank profitability
Improvement of the quality of data and indicators
Institutional investors

8. Ranking (2) Harmonisation of national statistics across countries
Methodological developments
Securitisation process
Valuation
Consolidation
Other developments

9. Ranking (3) Co-ordination with international organisations
EUROSTAT and ECB
IMF
BIS
Enhanced engagement of key non-members
Brazil, China, India, Indonesia and South Africa

10. Resources WPFS work totally funded through the STD budget
1 administrator, I statistician full-time, 1 statistician part- time (70%)
Additional resources in the form of secondment
1 secondee from the Turkish Central Bank to work on Bank Profitability
Additional resources in the form of direct funding
no grant

11. Future
The OECD Council will formally decide on the PWB around November
Suggestions for adjustments to the areas of work can be made and will be considered
New activities can be added if and only if additional resources are provided by Member countries