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Changing Data Sources of Central Bank Statistics: Experience of CBT

This presentation discusses the changing environment in statistical needs and the Central Bank of Turkey's (CBT) experience in adapting to these changes. It covers the enlargement of the monetary sector, the need for data on non-bank financial institutions, and the compilation of financial accounts for the general government sector. The presentation also highlights the new data sources and future work in this field.

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Changing Data Sources of Central Bank Statistics: Experience of CBT

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  1. Changing Data Sources of Central Bank Statistics:Experience of CBT Aycan Özek StatisticsDepartment DeputyDirector Committee for the Coordination of Statistical Activities Twenty-second Session September 5, 2013 Ankara

  2. Outline • Changing Environment • CBT’sExperience • FutureWork

  3. Changing Environment

  4. Emerging Statistical Needs: • Movefromtraditional data collectionsystemstoemergingstatisticalneeds (G-20 data gapsinitiative): • Strengtheningthecoverage of balancesheets • Flow of funds data • Data on non-bank financialinstitutions • Moretimelyandcomparablestatistics Changing Environment

  5. Traditional Data Sources: Central Bank Accounts BalanceSheet / Accounting Records CBT’s Experience Banking Data SupervisoryReporting Forms Money Market Data

  6. New Data Sources: CBT’s Experience

  7. Why is thecoverage of monetarysectorenlarged? • Needforbetterdesignedmonetaryaggregatesforbetterfinancialstabilityanalysis • HarmonizationwithIMF’sMFSM, ESA classificationsandECB’sdefinitions CBT’s Experience

  8. Why is thecoverage of monetarysectorenlarged? • ESA 95 pr. 2.48 • ‘…. Othermonetaryfinancialinstitutionsconsists of allfinancialcorporationswhichareprincipallyengaged in financialintermediationandwhosebusiness is toreceivedepositsand/orclosesubstitutesfordeposits…… fortheirownaccounts, tograntloansand/ortomakeinvestment in securities.’ • Investmentand Development Banks : grantloansandmakeinvestment • ParticipationBanks: issueprofit-losssharingaccounts (withinIslamicbankingrules) as substitutesfordeposits • Money Market Funds: issueshort-termliquidsecurities as closesubstitutesfordeposits CBT’s Experience

  9. Enlarged Monetary Sector CBT’s Experience

  10. New Data SourcesforMonetarySector: • SupervisoryReportingPackage (SPR) of ParticipationBanks • - Statistical reportingformsarecreatedandaddedtoSPR • Capital Market Board data set for Money Market Funds • - Financial assetsandliabilitiesarecompiledfortype-B liquidfunds • - Total valuesarecalculatedbased on type of transactions • - Transactionsaredisaggregatedintoreverse repo, outrightpurchases • andmoney market transactions • - Counterpartsector data is gatheredfromCBT Money Market transactions CBT’s Experience

  11. TheNeedforNon-Bank Financial Institutions’ Data: • G-20 Data GapsInitiative • Harmonizationwithinternationalstandards (SNA, ESA, MFSM) • Compilation of Financial Accounts CBT’s Experience

  12. New Data Sources for Non-Bank Financial Institutions: • Unified Chart of Accounts of Financial Leasing, Factoringand Finance CompaniescompiledbyBRSA • Capital Market Board data set forInvestmentFunds • Financial reports of InsuranceCompaniesandPensionFundscompiledbyTreasury • Data on holdersectors of investmentfundscompiledby Central RegistryAgency • Unified Financial Reporting System of Capital Market Dealer Companies compiled from Capital Market Dealer’s Association • Detailedbalancesheetitems of SavingsDepositInsuranceFund CBT’s Experience

  13. CBT’s Experience:

  14. Financial AssetStructure of Non-Bank Financial Sector: CBT’sExperience: Financial LiabilityStructure of Non-Bank Financial Sector:

  15. TheNeedfor General GovernmentSector Data: • Compilation of Financial Accounts (ESA 95) • - Central government • - Localgovernment • - Social Security institution CBT’s Experience

  16. New Data Sourcesfor General GovernmentSector: • Detailedfinancialassetsandliabilities of centralandlocalgovernment, andsocialsecurityinstitutioncompiledbyMinistry of Finance (MoF) • Government Finance StatisticsbyMoF • GovernmentSecurities Database createdbyCBT CBT’s Experience

  17. Holders of Government Securities CBT’s Experience

  18. Financial AssetandLiabilities of Central andLocalGovernment CBT’s Experience LiabilityStructurebyInstrument AssetStructurebyInstrument

  19. New Periodic Publications at CBT web site • (www.tcmb.gov.tr) • Financial Accounts (since 2012) • Statistics on Non-Bank Financial Sector (since 2010) CBT’s Experience

  20. CBT’s Experience

  21. Compilation of Financial Accounts: • - Data on Non-financialCorporations • - Data on Households • IMF’sOther Financial CorporationsSurvey: • - Aggregatingfinancialassetsandliabilities of non-bank financial • corporations at sectorlevel • SNA and ESA Revisions: • - Changes in sectorclassification: • Disaggregation of Money Market FundsfromOMFI’s • Disaggregation of Non-MMFInvestmentFundsfromOFI’s • Disaggregation of InsuranceCompaniesandPensionFunds Future Work

  22. PLEASE CONTACT FOR FURTHER INFORMATION:AYCAN ÖZEKPHONE: +90 312 5076915E-MAIL: aycan.ozek@tcmb.gov.trCENTRAL BANK OF TURKEYSTATISTICS DEPARTMENTMONETARY AND FINANCIAL STATISTICS DIVISION

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