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Banking Services NACE 64.19

Banking Services NACE 64.19. 2014-09-10. 1. Agenda. Statistical Classification Banking Services in Swedish NA Sampling Pricing Methods Weights Data Collection Results. 2014-09-10. 2. Statistical classification. 2014-09-10. 3. Other monetary intermediation. Includes:

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Banking Services NACE 64.19

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  1. Banking ServicesNACE 64.19 2014-09-10 1

  2. Agenda Statistical Classification Banking Services in Swedish NA Sampling Pricing Methods Weights Data Collection Results 2014-09-10 2

  3. Statistical classification 2014-09-10 3

  4. Other monetary intermediation Includes: receiving of deposits and extending of credit or lending funds such as loans, mortgages, credit cards etc. (carried out by banks, savings banks and credit unions) postal giro and postal savings bank activities credit granting for house purchase by specialised deposit-taking institutions money order activities 2014-09-10 4

  5. Banking services in Swedish NA The production within the banking sector is divided into two product groups: FISIM (Financial Services Indirectly Measured) Direct bank services. 2014-09-10 5

  6. FISIM An estimate of the value of financial intermediation services that are not charged for explicitly. Loans: Interest received - (Reference rate * Loan stocks) Deposits: (Reference rate * Deposit stocks) – Interest paid 2014-09-10 6

  7. How to deflate FISIM It is hard to identify a price or a quantity that correctly measures the value of FISIM. Therefore it is hard to measure the volume of it and to deflate the value. Most countries do not include FISIM in their price indices. In Sweden FISIM is calculated using the stock of loans and deposits, that are deflated using the GDP-deflator (the implicit price deflator for domestic final demand). This is in line with what is recommended by the EU (as in Council Regulation (EC) No 448/98). • 2014-09-10 7

  8. Direct Services Services for which an explicit charge is made. Dominated by two types of services: payment services mediation of securities 2014-09-10 8

  9. Deflation of direct services Payment services B2B: SPPI B2C: CPI Mediation of securities B2B: HICP B2C: HICP 2014-09-10 9

  10. SPPI Review during 2008 Some improvements were made 2014-09-10 10

  11. Sampling The market for payment services is dominated by four large banks. They dominate the market almost completely and therefore no probablity sample is drawn. These banks get to represent the whole market Totally 35 observations per quarter 100 % response rate 2014-09-10 11

  12. Pricing methods In most cases Unit Value is used (turnover / # transactions) The Services are grouped by type of service and type of customer After the review during 2008 the product groups are now sufficiently homogenous In one case Model Pricing is used and in two cases list prices are used 2014-09-10 12

  13. Unit value - example • From one bank we get unitvalues for four different services dividedbetweenfourcustomergroups • LargeCorp • MidCorp • Public authorities and companies • Retail 2014-09-10 13

  14. Weights Each Bank has a weight depending on size of total turnover. Within the banks each service has its own weight, depending on total revenue from the respective service 2014-09-10 14

  15. Collection of prices Since the first quarter of 2009 prices are collected via web questionnaires The banks receive user-IDs and passwords via post 2014-09-10 15

  16. 2014-09-10 16

  17. Results 2014-09-10 17

  18. Summary Statistical Classification Banking Services in Swedish NA Sampling Pricing Methods Weights Data Collection Results 2014-09-10 18

  19. Questions? 2014-09-10 19

  20. Contact: Thomas Olsson thomas.olsson@scb.se 2014-09-10 20

  21. Thank you! 2014-09-10 21

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