Analytical Accounts of Central Bank and Other Depository Corporations

Workshop on

“Collaboration Among Data Compilers & Users”

May 8-9, 2006

Naseer AhmadJoint DirectorState Bank of Pakistan(92 21) 921 2571(92 21) 921 2569naseer.ahmed@sbp.org.pk

Scope

It is the analytical presentation of monetary aggregatesMeet international standards of:

Methodology,Compilation and Dissemination PracticesTransparency, QualityFrequency and Timeliness

Access to the publicHelpful in policy formulationHelpful in analysis and research

Coverage

Covers the balance sheets of:

The central bank

Deposit Money Institutions

Other Deposit Accepting Corporation

With details on:

Sectors

Financial instrument

Periodicity

Compiled and disseminated on monthly basis

Analytical accounts for the central bank are disseminates at SBP website, usually NLT 15th of subsequent month

Analytical accounts for other depository corporations are disseminates at SBP website, NLT 30th of subsequent month along with the combined position

Compilation Methodology Monetary Statistics in Pakistan

Month end compilation based on weekly statements

Month end compilation based on monthly reporting (Switch over) in September 2004

Month end compilation based on MFSM guidelines

Monetary and Financial Statistics Manual-2000 (MFSM 2000)

Monetary Statistics Financial Statistics

Overview

Assets/ Liabilities

1.Currency and Deposits

2.Securities other than shares

3.Loans

4.Shares and other equity

5.Insurance technical reserves

6.Financial derivatives

7.Other accounts receivable/ payable

8.Non-financial assets

Sectors of the economy

1.Non-financial corporations

2.Financial corporations

3.General government

4.Non-profit institutions serving households

(non-market)

5.Households

6.The Rest of the world

Residency criteria

IndividualsEconomic territory, no nationality, legal or political boundariesCentre of economic interestOne year or moreExceptions:

StudentsCrew membersDiplomatsArmed forces members

Corporations

One year or more

Separate set of accounts

Significant production of goods or services

Transactions located in that economy

Residency criteria

Economic territory

That geographic territory with in which persons, goods and capital circulate freely – includes, airspace, territorial waters etc

Centre of Economic Interest

– An institutional unit is said to have a center of economic interest within a country when there exists some location—dwelling, place of production, or other premises—within the economic territory of the country on, or from,

– which it engages, and intends to continue to engage, in a significant amount of economic activity.

Residency criteria

2. Financial corporationsa) Central bankb) Other depository corporations

i) Deposit money institutionsii) Other deposit accepting institutions

c) Other financial intermediariesd) Financial auxiliariese) Insurance corporations and pension

fundsi) Life insurance corporationsii) Non-life insurance corporationsiii) Pension funds

Sectors/sub-sectors of the economy

• Public

• Private

Foreign controlled

National private

Sectors/sub-sectors of the economy

3. General governmenta) Central government

i) Federal government excluding NPIs & Public enterprises

ii) NPIs (Non market)b) Provincial Governments

i) Provincial Governments excluding NPIs& Public enterprises

ii) NPIs (Non market)c) Local governments

4. Non-profit institutions serving households (non-market)

Sectors/sub-sectors of the economy

5. Householdsa) Employersb) Own account workersc) Employeesd) Recipient of property and

transfer incomes

6. The Rest of the world

Sectors/sub-sectors of the economy

Assets/ Liabilities

1. Currency and Deposits

a)Currency

b)Transferable deposits

c)Restricted/ compulsory deposits

d)Other deposits

Stock and flows

Opening stock

Net transactions

Valuation changes

Other changes in volume

Closing stock

Valuation changes

Exchange rate changes

Price changes

Fair value / market price

Other changes in volume

Financial flows that arise from changes other than

those arising from transactions and revaluations.

These includes:

1. Write-offs of claims

2. Catastrophic losses such as natural disasters, acts of

war, and riots etc.

3. Uncompensated seizures such as possession taken

by governments due to non payment of taxes, fines

or similar levies

4. Sectoral reclassification

Depository corporations survey

Deposit money institutions survey

Other depository corporations survey

Other financial corporations survey

Financial corporations survey

Financial statistics of the economy

Flow of Funds Accounts (FFAs)

International Investment Position (IIP)

Analytical presentation of data

Sources of Data

State bank of Pakistan

Deposit money institutions

Other depository institutions

Non-depository financial corporations

Non-financial corporations

House hold

The rest of the world

Thanks