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FINANCIAL ACCOUNTS IN SLOVENIA Skopje, October 201 3 Matjaž Noč

FINANCIAL ACCOUNTS IN SLOVENIA Skopje, October 201 3 Matjaž Noč. Outline. Development of FA in BS Responsibility of BS in the field of FA Sources of FA compilation Compilation process Publication Overview of Slovenia's FA Future challenges. Development of FA in BS. Annual FA:

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FINANCIAL ACCOUNTS IN SLOVENIA Skopje, October 201 3 Matjaž Noč

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  1. FINANCIAL ACCOUNTS IN SLOVENIASkopje, October 2013Matjaž Noč

  2. Outline • Development of FA in BS • Responsibility of BS in the field of FA • Sources of FA compilation • Compilation process • Publication • Overview of Slovenia's FA • Future challenges

  3. Development of FA in BS • Annual FA: • First compilation in 2004 (for 2001 stockonly, for 2002 stock and transactions) • Available data 2001 – 2012 • Quarterly FA (including QFAGG): • First compilation in 2006 (for 2004 and 2005) • Available data from 2004q1 to 2013q1

  4. Responsibility of BS in the field of FA • Annual FA to Eurostat (European Commission - Council Regulation (EC) No 2223/96), deadline T+9 months • Quarterly FA to ECB (MUFA – Guideline ECB/2002/7; Guideline amending Guideline ECB/2002/7 on the statistical reporting requirements of the ECB in the field of quarterly financial accounts - ECB/2005/13), deadline T+110 days • Quarterly FA for general government to ECB and Eurostat (Regulation (EC) No 501/2004 of the European Parliament and of the Council), deadline T+90 days

  5. Sources for FA compilation Primary sources: • Quarterly data (stock and transactions) based on direct reporting by individual institutional units (non-financial corporations, financial corporations and general government units) • Banking statistics • Investment fund statistics • Leasing companies statistics • IIP and BOP statistics • Securities statistics Secondary sources: • Public finance statistics • Other sources

  6. Compilation Process Compilation process, made in Excel, is divided into three phases. Phase 1: preparation of basic data • Formation of the FA tables for each sector with primary data • Checking the primary data: • On the aggregate basis for each sector • On the individual basis

  7. Compilation Process Phase 2:Compilation of non-consolidated financial accounts • Compilation of stock • Comparing the information from one sector with information from the counterpart sector • A hierarchy of sources is used (most reliable sources, experience) • Choose the data from one side and allocate it to the both sides • Adjustment of the primary data with the secondary sources where necessary • Compilation for S.14 and S.15 based on the data from the counterpart side

  8. Compilation Process • Compilation of transactions • Directly reported data (especially for S.121 and S.122) • Information from the securities statistics • Estimations of revaluation changes • Other information (changes in sector and instrument classifications) Phase 3:Compilation of consolidated financial accounts • Consolidation process • Consolidation at the subsector level • Consolidation at the sector level

  9. Consistency of financial accounts At the end of the compilation process the final data are analysed and checked for: • Internal consistency: • Checking and analysing stock, changes in stock, transactions, revaluations and other changes • The sum of net items of domestic sectors is equal to the net item of RoW • External consistency with: • Government sector data (deficit, debt) • IIP/BOP • Non-financial accounts for all sectors • Consistency of the content: • Consistency of data in time series and with real economic situation

  10. Publication Financial accounts are published on the BS web-side: • Annual financial accounts tables (2001 - 2012) • Quarterly financial accounts tables (2004q1 – 2013q1) • Methodology and the compilation process • Yearly publications Financial accounts of Slovenia (the latest 2007 - 2012) • Quarterly information on Financial accounts (in Slovene only) • Monthly Bulletin (tables 5.1 – 5.6) • http://www.bsi.si/en/publications.asp?MapaId=923 • Financial accounts data series • http://www.bsi.si/en/financial-data-r.asp?MapaId=982

  11. Non-financial corporations (S.11)

  12. Other monetary financial institutions (S.122)

  13. General government (S.13)

  14. Households (S.14)

  15. Rest of the world (S.2)

  16. Net financial assets of domestic sectors and rest of the world

  17. Net financial assets in Slovenia and the euro area

  18. Future challenges • Consistency with non-financial accounts • ESA2010 implementation

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