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European Statistics provided by the ECB

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Presentation on theme: "European Statistics provided by the ECB"— Presentation transcript:

1 European Statistics provided by the ECB
Werner Bier, Per Nymand-Andersen European Central Bank Committee for the Coordination of Statistical Activities (CCSA) Twentieth Session, Frankfurt, September 2012

2 Outline European statistics Core ESCB Statistics
European Union Member States Euro area Special status Derogation European statistics Core ESCB Statistics Future challenges in statistics Conclusion

3 The European statistical architecture
ECB & 27 NCBs Eurostat & 27 NSIs general economic statistics including; HICPs, prices and costs domestic and national output, expenditure and income money, banking, financial markets statistics international reserves effective exchange rates quarterly financial accounts Shared: (i) balance of payments statistics; (ii) international investment position statistics; (iii) financial and non-financial accounts; (iv) statistical infrastructure Based 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 organisation The Treaty provides ECB with the competence to collect the full set of information needed to perform the tasks of the ESCB ECB Regulations Directly applicable on economic agents – firms ECB Guidelines Binding on central banks Merits 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 collections The ECB and the 27 NCBs work in a strong governance structure Develops new statistics and statistical methods and prepares legal acts NCBs collect statistics on the basis of ECB legal acts and submit harmonised datasets to the ECB ECB produces and releases (mainly) euro area statistics

6 European statistics provided by the ESCB
Monetary & financial market statistics Monetary aggregates and counterparts Balance sheet statistics of banks, investment funds, financial vehicle corporations and insurance corporations and pension funds Banks interest rates statistics Securities statistics, payments and securities settlement statistics, financial markets price and volume statistics, yield curves, Financial stability statistics, Securitisation (vehicle) statistics, External statistics Balance 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 accounts Integrated quarterly accounts by institutional sector covering transactions, other flows and balance sheets Government finance statistics Revenue, expenditure, deficit, debt, deficit-debt adjustments General economic statistics HICP, residential property price indicator, short-term indicators, labour market statistics Surveys Access 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) statistics Policy statement released on the central banks’ web-sites on Monday 3 September 2012 The 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 use Link to ECB web-site with common policy statement

9 Future challenges in ESCB European statistics
Monetary policy Well developed More granularity Financial stability analysis and support to the ESRB

10 Future challenges in ESCB European statistics

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, outlook Developing more micro-level information sources e.g. security-by-security & holdings information, loan-by-loan data Enhance the integrated framework of euro area accounts e.g. whom-to-whom, more detailed sector classification, country coverage, timeliness, flows and stocks reconciliations Introducing the ESA 2010/BPM6 in ESCB statistics

12 Future challenges in ESCB European statistics
International engagements i.e. UNSC, CCSA, G20, IAG, BIS, OECD, IMF, SDMX New approaches for communicating statistics i.e. user centric approach, two-way engagements, visualisations, video, statistics scientific publications, user friendly web-sites Governing Council Journalists/Media Financial analysts Research/Academia General public Data Vendors Policy Advisers

13 Supplements

14 Supplement – CCSA on Wikipedia
Committee for the Coordination of Statistical Activities is now live on Wikipedia Link Description of the CCSA mandate Listing of the CCSA members with hyperlinks Links to the CCSA web-page as hosted by the UNSD CCSA members are invited to test the CCSA entry on Wikipedia and CCSA members are encourage to provide a hyperlink to the CCSA website as hosted by UNSD.

15 Supplement – free reuse of statistics

16 Supplement – ISI Conference
59th World Statistics Congress 25-30 August 2013 Hong Kong, China Co-organised by the Census and Statistics Department of the Government of Hong Kong and the ISI (International Statistics Institute).

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