Back Matter

Back Matter

Author(s):
Jose Cartas, and Artak Harutyunyan
Published Date:
November 2017
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    Appendix I. Monetary Statistics and Other Macroeconomic Statistics

    I. Introduction

    A1.1 This Appendix describes the relationship between monetary statistics on one side, and government finance statistics (GFS) and external sector statistics on the other. (See also Appendix 7 of the Government Finance Statistics Manual 2014 (GFSM 2014) and Appendix 6 of the BPM6 Compilation Guide.) The relationships between monetary statistics and national accounts are covered in Chapters 2 and 8 of this Manual.

    A1.2 It is important for compilers and users of monetary statistics to understand how they relate to the other macroeconomic datasets. More specifically, an understanding of the linkages fosters consistency in methodology between the respective datasets. This Manual is part of the family of statistical guidelines and can, therefore, be seen to be extending and elaborating on the 2008 System of National Accounts (2008 SNA). The conceptual framework of this Manual is consistent, in principle, with the 2008 SNA with respect to principles and concepts, such as sectoring of institutional units, classification of financial assets and liabilities, and accounting rules. Thus, the main principles and concepts of this Manual also accord with those in the sixth edition of the Balance of Payments and International Investment Position Manual (BPM6) and the GFSM 2014.

    A1.3 The institutional arrangements for compiling and producing macroeconomic statistics differ from country to country. In almost all countries, the central bank is primarily involved in compiling monetary data to allow for monitoring financial conditions and exercise monetary policy. Central banks in many economies are also responsible for compiling external sector statistics. As regards compilation of GFS, the ministry of finance is usually the lead agency, but other government agencies as well as the national statistics office and the central bank may be involved. Compilation of all macroeconomic datasets should be based on consistent methodological guidance and, where different agencies are involved, it is essential that these national agencies coordinate efforts to ensure consistency in data outputs.1

    A1.4 A clear understanding of the linkages between datasets will assist countries in producing comparable and consistent statistics needed for economic analysis and policy decisions. Because of their relatively high level of reliability and comprehensiveness, high frequency, and availability with a short time lag, monetary statistics often serve as an input to other datasets.

    A1.5 This appendix provides an overview of similarities and differences in coverage and accounting rules between monetary statistics and the various macroeconomic statistics, before describing the linkages between monetary statistics and GFS, and monetary statistics and external sector statistics. Where differences exist, advice is provided on how to reconcile the data.

    II. Overview of Coverage and Accounting Rules

    A1.6 The basic principles and concepts underlying monetary statistics are, in principle, consistent with the 2008 SNA, which provides the conceptual framework for national accounts. The BPM6 serves as the standard framework for statistics on the transactions and stock positions between an economy and the rest of the world. The GFSM 2014 provides guidelines on compiling statistics for the fiscal sector (i.e., the general government, its subsectors, and the public sector). These manuals are also harmonized with the 2008 SNA.

    A1.7 The statistical principles and concepts in all these manuals are defined, in principle, in a consistent manner. The delineation of resident and nonresident entities, sectoring of the domestic economy, and definitions and classifications of the various categories of nonfinancial and financial assets and liabilities are the same or are reconcilable. The accounting rules are the same with respect to the basis of recording and valuation. The accrual basis of recording of flows and stock positions is used consistently in all datasets.

    A1.8 The identification of institutional units and their sectoring and subsequent level of subsectoring are conceptually the same in all macroeconomic data sets except that this Manual introduces the concept of depository corporations (DCs). The latter differs from the concept of deposit-taking corporations in the national accounts and balance of payments through the inclusion of money market funds within the DCs subsector and the exclusion of deposit-takers whose deposit liabilities are not included in broad money. The general government sector in this Manual is defined identically to the general government sector in the national accounts, balance of payments, and GFS. Although the “public sector” is not one of the five primary sectors in the SNA, it is acknowledged as a sector in GFS, but not in MFS; the latter puts a particular emphasis on central government, a subsector of general government.2

    A1.9 As a result of focusing on the activities and balance sheets of specific sectors and most relevant concepts in each case, some differences in the recording of activities, positions, and flows may arise between various macroeconomic datasets. These differences are, however, exceptions from the general principles, given that the conceptual standards applicable across related datasets are harmonized. Where differences in the data exist, reconciliation of the differences should routinely be made.

    III. Linkages between Monetary Statistics and GFS

    A1.10 Linkages between monetary statistics and GFS originate from the fact that governments, as clients of financial institutions, often place surplus funds in accounts held at financial corporations (FCs). For instance, in most countries, central government has accounts at the central bank where its day-to-day surpluses are deposited. Vice-versa, FCs often invest their surplus resources in debt instruments, such as debt securities and other debt instruments issued by governments, funding the government’s net borrowing requirements. These transactions will result in either a positive net claim of government on the FCs, or a positive net claim of these corporations on government. The net asset/liability position between the general/central government sector and the FCs sector should be consistent, or, at least, reconcilable as compiled from both sides. The extent to which these data are consistent is a good indicator of the consistency in macroeconomic statistics in a country.

    A1.11 Differences in the amounts reported as net claims between the government sector and the FCs sector can be used to check the accuracy/consistency of the respective data sets.

    A1.12 The Data Quality Assessment Framework (DQAF)3 used for the Reports on Observation of Standards and Codes (ROSC)–Data Module spells out (in Section 4.2.3–Consistency with other statistical frameworks) which consistency checks should be performed between monetary statistics and GFS:

    • a. The central government’s records on the government deposits in, and government borrowing from, the DCs in GFS are largely consistent with the comparable data in monetary statistics (DQAF for monetary statistics).

    • b. FCs’ data (usually compiled by the central bank) are often used as the preferred fiscal measure, especially sub-annually. If the two sets of numbers are different, the reasons for the difference must be ascertained, and documentation provided on the size and reasons for the discrepancy (DQAF for GFS).

    A1.13 Reasons for differences between the two sets of data can often be found in:

    • a. Coverage. In many economies, governments have numerous accounts held in several financial institutions. Both datasets should include the same institutional units in the general/central government data and monetary data. Differences may arise if central government has accounts with a FC, but this financial institution is not covered in the monetary statistics. Another more common case is when certain government units have accounts with FCs and the monetary statistics cover these accounts, but the accounts of these government units are not covered in the GFS, because the GFS data are confined to budgetary accounts, thereby not covering the data of the extra budgetary units. Also, central government may hold a number of dormant accounts that are not included in GFS, but are appropriately included in monetary statistics.

    • b. Sectoring. Some of the institutional units may not be identified and sectored appropriately as general/central government in the FCs’ accounts and may lead to inconsistencies in the two datasets. For example, an account held for externally financed projects and foreign grants may not be designated appropriately as a government account in FCs’ records.

    • c. Classification and coverage of financial instruments. The classification of financial instruments included in financial assets and liabilities may differ, or an instrument may not be consistently classified in the two systems. Differences may arise, for example, when an instrument such as accounts receivable/payable is not treated in the same way in the data, or when a loan is incorrectly reported as equity investment in one of the data sets.4

    • d. Time of recording. The time of recording (e.g., because of complementary recording periods) used in government accounting may result in transactions being recorded at a time other than when economic ownership changes hands.

    • e. Accrual versus cash recording. Conceptually, both data sets should be recorded on an accrual basis. GFS compilers often use cash-based data as a proxy for data compiled on an accrual basis. The FCs sector is often implementing accrual recording of transactions and stock positions. In addition, certain items may not be accrued correctly within the time when the economic event occurred.

    • f. Valuation. Conceptually, both data sets should follow the same valuation principles, but national practices may differ. Where valuation differences in source data exist, differences may occur between the monetary statistics and GFS, unless valuation adjustments are made when the respective data sets are prepared. In particular, FCs’ holdings of debt securities issued by the central government are recorded at market/fair value in monetary statistics, but may be recorded at nominal value in GFS.

    • g. Holders of debt instruments. As issuers of debt securities, governments often have no knowledge or record of transactions in the secondary market. The sectors holding such debt securities can usually be determined by surveying the ultimate purchasers or by using data from a centralized securities depository. These instruments are often held by nominees of the FCs sector, which may complicate the identification of the actual creditors of the government. The complexity of determining current ownership of tradable instruments may, therefore, introduce inconsistency in the data between monetary statistics and GFS.

    IV. Linkages between Monetary Statistics and External Sector Statistics

    A1.14 This Manual and the BPM6 are consistent on issues such as the definition and delineation of resident and nonresident entities, time of recording of transactions and other flows, the classification and valuation of financial assets and liabilities, and data aggregation and consolidation. Monetary data are often used as source data for compiling external sector statistics. Differences between the two systems in the areas discussed below may pose limitations on the use of monetary statistics as input data for compiling the financial account of the balance of payments, international investment position (IIP), and the external debt statistics.

    A1.15Sectoring and coverage. One significant difference between this Manual and BPM6 concerns the treatment of money market funds (MMFs), which are part of the other depository corporations (ODCs) subsector in monetary statistics but part of the other financial corporations (OFCs) subsector in BPM6. This is due to a difference between the two systems in the delineation of FCs subsectors and the sectoring of MMFs.

    A1.16 In this Manual, all FCs that issue liabilities included in broad money are designated as DCs. These include the central bank subsector, the other deposit-taking corporations, and money market funds (MMFs). The latter two form the ODCs subsector. All other FCs are designated as OFCs. In BPM6, MMFs are included in the OFCs subsector and are not identified separately.

    A1.17 If monetary statistics are used by external sector statistics compilers, they should, therefore, request separate data on MMFs’ balance of payments transactions and IIP, in order to classify correctly financial transactions and positions within the OFCs subsector. The external sector statistics compilers should also confirm the institutional coverage of the deposit-taking corporations subsector as some deposit-takers may be excluded. For instance, offshore banks that do not accept deposits from residents are still considered deposit-taking institutions in BPM6, but are classified as OFCs in the monetary statistics.

    A1.18Classification of financial instruments. The major categories for financial assets and liabilities in this Manual follow the financial instruments classification in the 2008 SNA and BPM6 although the level of additional breakdowns of the major categories differs between monetary statistics and the BPM6. However, BPM6 classifies financial instruments by functional category (see paragraph A1.23).

    A1.19Classification by maturity. The sectoral balance sheets and analytical surveys in monetary statistics do not classify loans and debt securities by maturity, although the SRFs include a maturity breakdown for central bank liabilities to nonresidents. In BPM6, currency and deposits, loans, trade credits and advances, other receivable/payable-other, and debt securities are classified by maturity into short-term (original maturity of one year or less) and long-term.

    A1.20Classification by currency of denomination. This Manual requires a breakdown of all instruments, financial assets and liabilities, except equity liabilities, into domestic currency and foreign currency. BPM6 recommends breakdowns of stocks of external financial assets and liabilities, excluding equity, by major currency (see Tables A9-I and A9-II) and external debt assets and liabilities by instrument, excluding equity, and by foreign/domestic currency (see Table A9-III).

    A1.21Valuation. The valuation principles and other accounting rules in this Manual are generally in agreement with those in BPM6. A feature of monetary statistics is the disaggregation of Equity liabilities [MS] into components by types of equity resources (i.e., Funds contributed by owners, Retained earnings, Current year result, General and special reserves, and Valuation adjustments), which are recorded at book value. Although this approach does not appear as a standard classification and valuation of liability equity in the BPM6, it is consistent with the approach called own funds at book value (see BPM6, paragraph 7.16e). In contrast, the standard approach in BPM6 is to value equity securities (for both assets and liabilities) at market or fair value with the identification of nonresident holdings within the standard presentation.

    A1.22 To meet the data needs (concerning equity liabilities) for compiling financial statistics, including the financial account of the SNA, the standardized report forms (SRFs) contain a memorandum item requesting the market or fair value of equity by counterpart sector. This is because equity liabilities in monetary statistics are not necessarily properly estimated due to the use of book instead of market value. Furthermore, the presentation by component of equity, without a breakdown by counterpart holder, underestimates foreign liabilities resulting from nonresidents’ holding of FC’s equity. The majority of countries do not report this memorandum item, however, implying that this information is not compiled by monetary statisticians. To solve this situation, the IIP compiler (who often does possess data on equity liabilities to nonresidents) should coordinate with their monetary statistics counterparts to promote the compilation of the SRF memorandum item and, thus, avoid duplication of efforts or excessive reporting burden on financial institutions.

    A1.23Functional categories. In general, monetary statistics do not use functional categories to classify financial assets and liabilities or economic sectors. This can pose compilation challenges where monetary statistics are used to estimate balance of payments/IIP data on direct investment for deposit-takers and for OFCs.

    A1.24 Appendix 6 of the BPM6 Compilation Guide contains a reconciliation exercise between balance of payments and monetary statistics. Table A6.3 of that appendix shows how the sectoral balance sheet data for ODCs can be used for the “deposit-taking ­corporations, except the central bank” subsector of the IIP. Although the sectoral balance sheet data of ODCs correspond largely with IIP components, the differences in the classification do not allow a full reconciliation of the two datasets. Table A6.4 in the same appendix shows how sectoral balance sheet data for the central bank can be used to compile data for the central bank subsector in the IIP.5

    Appendix II. Illustrative Sectoral Balance Sheets/Standardized Report Forms (SRFs)

    A2.1 This appendix contains the guidelines for completion of illustrative sectoral balance sheets/SRFs:

    • a. Guidelines for Completion of Standardized Report Forms 1SR, 2SR, and 4SR for Reporting Monetary Data to the IMF

    • b. Guidelines for Completion of Standardized Report Form 5SR for Money Aggregates for Reporting Monetary Data to the IMF

    • c. Table A2.1. Standardized Report Form for the Central Bank

    • d. Table A2.2. Standardized Report Form for Other Depository Corporations

    • e. Table A2.3 Standardized Report Form for Other Financial Corporations

    • f. Table A2.4. Standardized Report Form for Money Aggregates

    I. Guidelines for Completion of Standardized Report Forms 1SR, 2SR, and 4SR for Reporting Monetary Data to the IMF

    A. Submission of Standardized Report Forms (SRFs)

    A2.2 The SRFs

    • 1SR – CENTRAL BANK

    • 2SR – OTHER DEPOSITORY CORPORATIONS

    • 4SR – OTHER FINANCIAL CORPORATIONS

    • 5SR – MONEY AGGREGATES

    should be submitted as soon as possible following the end of the reporting period; for example, immediately after the data are finalized and prepared for dissemination. Each SRF should be submitted as soon as its data are ready and not all at once when all SRFs are ready. The SRFs should be transmitted electronically to the Statistics Department (STA) of the International Monetary Fund using the Integrated Correspondence System (ICS). For information about the ICS, contact ICSINQUIRY@imf.org. STA strongly prefers that all data be transmitted using the ICS; however, if this method cannot be implemented, data may be sent by electronic mail.

    B. Coverage and Structure of SRFs

    A2.3 All assets and liabilities must be reported according to the residence of customers and expressed in domestic currency units. In addition, domestic assets and liabilities should be disaggregated by counterpart sector in which the customer is included in the economy, as indicated in the section on sectors.

    A2.4 For issues that cannot be resolved internally, the staff of the central bank in the reporting country responsible for the completion of the SRFs should confer with the IMF Statistics Department. When completed, the SRFs should show all assets and liabilities (including equity and investment fund shares) as of the end of the reporting period. Furthermore, the various categories of assets and liabilities of the SRFs should sum to total assets and total liabilities.

    A2.5SRF 1SR. Include data for the central bank (the accounts of the central bank headquarters and branches and, if applicable, the currency board or independent currency authority that issues domestic currency). If the monetary authorities’ functions are performed outside the central bank, these should be reported as supplementary data. These would include: (1) official foreign exchange holdings by the government, (2) currency issuance by the government, and (3) transactions with the IMF performed by the ­government.

    A2.6SRF 2SR. Include data on all resident units in the financial corporations (FCs) sector (except the central bank) that issue liabilities included in broad money. Money market funds (MMFs) and offshore banks that issue liabilities included in broad money should be included in the data in the SRF 2SR. The SRF should include the accounts of other depository corporations (ODCs) that are not operating due to their being reorganized or are in the process of being liquidated, even if the deposits of such ODCs are frozen and so excluded from broad money.

    A2.7SRF 4SR. Include data on all resident insurance corporations and pension funds, non-MMF investment funds, other financial intermediaries, captive financial institutions and money lenders, and financial auxiliaries. Ideally, the SRF should include data for all units in the FCs sector other than the DCs covered in SRFs 1SR and 2SR. However, the SRF 4SR may have partial coverage until complete institutional coverage is achieved.

    A2.8 Financial assets and liabilities in the SRFs are presented by type of financial instrument (see Chapter 4):1

    • a. Monetary gold and SDRs

    • b. Currency and deposits (encompassing transferable deposits and other deposits)2

    • c. Debt securities

    • d. Loans

    • e. Investment fund shares

    • f. Equity

    • g. Insurance, pension, and standardized guarantee schemes

    • h. Financial derivatives and employee stock options (ESOs)

    • i. Other accounts payable/receivable (encompassing Trade credit and advances and Other accounts).

    A2.9 Four components of Insurance, pension, and standardized guarantee schemes are shown: Life insurance and annuity entitlements of households, Pension entitlements of households, Nonlife insurance technical reserves and provisions for calls under standardized schemes, and Claims and liabilities of pension funds on/to pension managers.

    A2.10 Where relevant, positions in a financial instrument are disaggregated into positions in domestic currency and positions in foreign currency. Further, positions in Deposits (Transferable deposits and Other deposits), Debt securities, and MMF shares are disaggregated by category between those included in and those excluded from broad money.

    A2.11 Further, a position in each financial instrument is disaggregated into positions with main sectors and subsectors of the economy (see Chapter 3):

    • a. Nonresidents

    • b. Financial corporations

      • Central bank

      • ODCs

      • OFCs

    • c. General government

      • Central government

      • State and local government

    • d. Nonfinancial corporations

      • Public nonfinancial corporations

      • Other nonfinancial corporations

    • e. Households and nonprofit institutions serving households (NPISHs).

    C. Compilation issues

    Domestic currency unit

    A2.12 The standard unit of account for monetary statistics is the domestic currency unit. Therefore, it is necessary to convert (that is, translate) all foreign-currency-denominated stocks into domestic currency amounts. Stocks denominated in foreign currency should be converted to domestic currency values at the market exchange rate prevailing at the time to which balance sheet applies. The midpoint between the buying and selling exchange rates should be used.

    Valuation

    A2.13 The general principle is the use of market prices or approximations of market prices for valuing financial assets and liabilities in the SRFs. Market exchange rates should be used to convert (that is, translate) foreign-currency-denominated assets and liabilities into their domestic currency equivalents. Service charges, fees, commissions, taxes, and similar payments are income flows and, therefore, should be excluded from the valuation of financial instruments. Stocks of financial assets and liabilities should be valued on the basis of the market prices that prevailed at the time of the balance sheet reporting date. Other valuation rules apply to assets and liabilities in the form of currency, deposits, loans, and other accounts receivable/payable, and to liabilities in the form of equity. See the specific information on the valuation of these instruments in the section on instruments.

    A2.14 All changes in the values of assets and liabilities that are not recorded in Current year result should be recorded in Valuation adjustment within Equity liability [MS] in the SRF. This Valuation adjustment account could include any valuation adjustments arising from differences between the valuations in the national accounting standards and the monetary statistics methodology.

    A2.15 Accrued interest on deposits, loans, and debt securities should be incorporated into the outstanding amount of the financial asset or liability, rather than being treated as part of Other accounts receivable/payable. Separate data on accrued interest disaggregated by financial instrument (deposits, loans, and debt securities) should be provided as memorandum items in the SRFs.

    Residence

    A2.16 Residence of customers should be based on their center of predominant economic interest, rather than nationality, currency of denomination, or legal definitions. All institutional units that have a location, dwelling, place of production, or other premises within the economic territory of the reporting country on which or from which they engage in a significant amount of economic activities in the reporting country should be considered residents. In most cases, it is reasonable to assume that institutional units have a center of predominant economic interest in the country if they have already engaged in economic activities and transactions on a significant scale in the country for one year or more, or they intend to do so. Individuals have centers of predominant economic interest in the reporting country when their principal residence(s) are in the country. If they live and work abroad and expect to remain abroad for more than a year, individuals typically cease to be residents of the reporting country. Some transactors in the reporting country are always considered to be nonresidents: particularly, embassies and consulates and their employees sent by a foreign government, international organizations, foreign military personnel, foreign students, tourists, foreign nationals expecting to stay in the reporting country for less than a year, and technical assistance personnel of foreign ­governments.

    Sectors

    A2.17 Sectoring of the institutional units in the economy is a key element in the compilation and presentation of monetary statistics. As indicated by the lines in the SRFs, major categories of assets and liabilities must be disaggregated into counterpart sectors and subsectors of the economy.

    A2.18 Social security funds are classified as central government or state and local government on the basis of the level at which they operate.

    Instruments

    Assets

    A2.19Monetary gold. Gold held by the central bank as part of reserve assets is monetary gold. Gold holdings that are not part of reserve assets should be classified as Other nonfinancial assets. Monetary gold should be valued on the basis of the market price of gold. This category appears only in SRF 1SR.

    A2.20SDR holdings. Special Drawing Rights (SDRs) are reserve assets created by the IMF and allocated to member countries to supplement existing reserves. SDR holdings represent assured and unconditional rights to obtain freely usable currency. This category is relevant only for SRF 1SR.

    A2.21Domestic currency. This comprises notes and coins that are of fixed nominal value, are accepted as legal tender in the domestic economy, and are issued by the central bank and/or government (and in a few countries by ODCs). This category should also include currency that is no longer legal tender but that can be exchanged for current legal tender. Gold or precious metal coins, which are held for their intrinsic value, or commemorative coins, which are held for their numismatic value and are not in active circulation should be classified as Other nonfinancial assets.

    A2.22Foreign currency. This category comprises notes and coins that have been issued by nonresidents—usually, by central banks or foreign governments. Foreign currency included in reserve assets is separately identified in SRF 1SR.

    A2.23Transferable deposits. These are all deposits that are exchangeable on demand at par and without penalty or restriction, and are directly usable for making payments to third parties by check, draft, giro order, direct debit/credit, or other direct payment facility. Transferable deposits include special savings accounts with a possibility of direct payments to third parties and savings account balances subject to automatic transfer to regular transferable deposits. Transferable deposits with nonresidents in foreign currency included in reserve assets are separately identified in SRF 1SR. Separate lines for reporting required reserves (in domestic and possibly in foreign currency) that are determined by a central bank are included in SRFs 2SR and 4SR.

    A2.24 Transferable deposits that are frozen should be classified as Other deposits.

    A2.25 Deposits denominated in domestic currency should be recorded at nominal value (outstanding amount including accrued interest). Deposits denominated in foreign currency should be recorded in domestic currency as provided for in the preceding section on valuation. These valuation principles apply to other deposits as well.

    A2.26Other deposits. This category encompasses all claims, other than transferable deposits, that are represented by evidence of deposit. Other deposits include:

    • a. Sight deposits that permit immediate cash withdrawals but not direct payments to third-parties

    • b. Nontransferable savings and fixed-term deposits

    • c. Non-negotiable certificates of deposit

    • d. FCs’ liabilities in the form of shares arising from members’ deposits that are legally or in practice redeemable immediately or at relatively short notice

    • e. Repayable margin payments in cash related to different financial contracts, such as financial derivatives and repos.

    A2.27 Separate lines for reporting required reserves (in domestic and possibly in foreign currency) that are determined by a central bank are included in SRFs 2SR and 4SR. Other deposits with nonresidents in foreign currency included in reserve assets are separately identified in SRF 1SR.

    A2.28 Entries in the line Reserve position in the Fund (RPF) are applicable only in those countries that do not have entries in lines IMF Quota and IMF No. 1, No. 2, and Securities Accounts. RPF is the sum of: (1) the Reserve tranche position in the IMF, which is the foreign currency amount that a member country may draw from the IMF at short notice; and (2) any indebtedness of the IMF under a loan arrangement in the General Resources Account that is readily available to the member country. RPF is a net concept and is calculated as IMF Quota minus IMF holdings of a member’s currency that are not subject to exclusion. The IMF’s holdings of the member’s currency are IMF No. 1, No. 2, and Securities Accounts, while the exclusions are holdings arising from the Use of Fund credit (UFC) and IMF Account No. 2 if its balance is less than 1/10 of 1 percent of the quota in the IMF. These lines appear only in SRF 1SR.

    A2.29Debt securities. These are negotiable financial instruments serving as evidence of debt. Common types of debt securities are government treasury bills, government bonds, corporate bonds and debentures, commercial paper, and negotiable certificates of deposits. Loans that became negotiable should also be classified under this category. Preferred stocks or shares that pay a fixed income but do not provide for participation in the distribution of the residual value of an incorporated enterprise on dissolution should be classified as debt securities.

    A2.30 A separate line for holdings of debt securities that were issued by households and NPISHs would be utilized only in those countries where FCs accept securities (for example, bills of exchange or other securities) issued by households or NPISHs. Separate lines for reporting required reserves (in domestic and possibly in foreign currency) that are determined by a central bank are included in SRFs 2SR and 4SR. A separate line for holdings of IMF securities, which are not part of RPF, is included in SRF 1SR. These IMF securities comprise Series B Notes as they are not readily available to meet balance of payments financing needs.

    A2.31 Holdings of debt securities issued by nonresidents in foreign currency included in reserve assets are separately identified in SRF 1SR.

    A2.32Loans. Loans are defined as financial assets that are created when a creditor lends funds directly to a debtor and that are evidenced by documents that are not negotiable. This category includes all loans extended to various sectors by FCs, such as commercial loans, mortgage loans, consumer loans, hire-purchase credit, loans to finance trade credit, financial leases, securities repurchase agreements, and overdrafts.

    A2.33 Repurchase agreements with the central bank, ODCs, OFCs, and nonresidents are separately identified in the SRFs. Loans to nonresidents in foreign currency included in reserve assets are separately identified in SRF 1SR. A separate line for loans to the IMF, which are not part of RPF, is included in SRF 1SR. These loans comprise loans drawn by the IMF under bilateral loan agreements and lending to the IMF managed trust accounts not readily available to meet balance of payments financing needs.

    A2.34 The valuation of loans is an exception to valuation based on market price or fair value. The valuation of loans denominated in domestic currency units should be based on the nominal value of creditors’ outstanding claims (outstanding principal including accrued interest) without adjustment for expected loan losses. Data on expected loan losses, disaggregated by economic sector of debtor, are included in the memorandum items of the SRFs, and data on provisions for loan losses are shown in Other accounts payable. Loans denominated in foreign currency should be converted into domestic currency using the market exchange rate.

    A2.35Investment fund shares. Investment fund shares comprise shares or units issued by all kinds of investment funds. Investment funds are collective investment undertakings through which investors pool funds for investment in financial or nonfinancial assets or both. Investment funds are divided into MMFs and non–MMF investment funds. MMFs invest primarily in short-term money market instruments such as treasury bills, certificates of deposit, and commercial paper. MMFs shares often are functionally close to transferable deposits, for example, shares offering unrestricted third-party-payment privileges.

    A2.36Equity. Equity comprises all instruments and records acknowledging claims on the residual value of a corporation or quasi-corporation after the claims of all creditors have been met. This category includes proprietors’ net equity in quasi-corporations, as well as equity in corporations. It also includes preferred stock that provides for participation in the residual value upon dissolution of a corporation.

    A2.37 Corporations sometimes purchase their own shares in the market. These reacquired shares (called treasury shares) are not included in holdings of equity but rather are deducted from funds contributed by owners within equity liabilities (see liability instruments below).

    A2.38 Subscriptions to international organizations, other than the IMF, should be classified as equity with nonresidents in SRF 1SR. Holdings of equity issued by nonresidents in foreign currency included in reserve assets are separately identified in SRF 1SR.

    A2.39Insurance, pension, and standardized guarantee schemes. This category records prepaid insurance premiums, which are relatively small amounts, claims of pension funds on pension managers, and provisions for calls under standardized guarantee schemes. See liability instruments for a description of all concepts.

    A2.40Financial derivatives. These are financial instruments that are linked to another specific financial instrument, indicator, or commodity, and through which specific financial risks (such as interest rate, currency, equity and commodity price, or credit risk) can be traded in their own right in financial markets. The value of a financial derivative derives from the price of an underlying item such as an asset or index. The two broad types of financial derivatives are forward-type contracts and option contracts. Financial derivatives with nonresidents in foreign currency included in reserve assets are separately identified in SRF 1SR.

    A2.41Other accounts receivable. These consist of Trade credit and advances, and Other. Trade credit and advances comprise trade credit extended directly to customers, advances for work that is in progress (or is to be undertaken), and prepayment for goods and services.

    A2.42 When trade credit is provided by FCs, it is usually for financial services to corporations, either financial or nonfinancial. Unlike loans, trade credit is a non-interest-bearing instrument.

    A2.43 The Other subcategory includes but does not separately identify settlement accounts, dividends receivable, items in the process of collection, and miscellaneous asset items. In the case of the central bank, the IMF quota subscription is also included and is separately identified.

    A2.44 Settlement accounts are used to account for differences in the time of recording of purchases or sales of financial assets on the trade dates when change of ownership occur, and the subsequent payments for the financial assets on the settlement dates.

    A2.45 Dividends receivable on corporations’ shares arise from the recording of dividends when the shares go ex-dividend or, for shares that are not traded publicly, when the dividends are payable, rather than later when the dividends are paid.

    A2.46 Items in the process of collection include checks or other types of transferable items that are posted directly to depositors’ accounts but are unavailable for use until after the transferable items have been cleared and paid by the DC on which it was drawn.

    A2.47 The IMF quota subscription should be used for recording the quota that is determined upon admission to IMF membership and can be adjusted under the IMF’s General Quota Reviews or on an ad hoc basis. This line appears only in SRF 1SR.

    A2.48 Miscellaneous asset items should include all accounts not elsewhere classified in the FCs’ balance sheets. Major types of miscellaneous asset items often include suspense accounts, amounts related to taxes, and prepayment of rent or other operating expenses.

    A2.49Nonfinancial assets. These consist of produced and nonproduced assets. Produced assets consist of fixed assets, inventories, and valuables (which are acquired and held primarily as stores of value). Fixed assets should include only those assets that are related to the activity of the reporting FC. Fixed assets should be valued at market value on the balance sheet date. If only book value is available in source data, fixed assets may be shown at book value, less accumulated depreciation, which is separately identified.

    A2.50 A specific line exists for nonfinancial assets that have been acquired as a result of repossession and/or foreclosure, or as part of a settlement for bad debts that were collateralized by these assets.

    A2.51 Other nonfinancial assets include gold holdings that are not part of reserve assets, holdings of commemorative notes and coins, works of art, real estate acquired for investment, and nonproduced assets such as land, licenses, and goodwill. Land should be classified within other nonfinancial assets, because it is not a produced asset and, therefore, it is not included in fixed assets, which arise from fixed capital formation.

    Liabilities

    A2.52Currency in circulation. This category comprises notes and coins that are of fixed nominal values, are accepted as legal tender in the domestic economy, and are issued by the central bank. For currency unions, this category should also include currency issued earlier by the central bank and not yet removed from circulation. In calculating the amount of currency in circulation, central bank holdings of currency are deducted from the total amount of currency issued. This category appears only in SRF 1SR.

    A2.53Deposits included in broad money. These comprise transferable deposits and other deposits of money holders with resident DCs and included in broad money. The same classification principle should be used for deposits transferred to pre-paid cards if these and other forms of electronic money are included in broad money. This category includes deposits that migrant workers hold in DCs in their home countries, if they are freely usable by authorized family members or other designated parties in settling transactions in the home country. See asset instruments for a description of transferable and other deposits.

    A2.54 Money holders can also have deposits in domestic and/or foreign currency at the central bank, which should be included in this category in SRF 1SR. SRF 1SR includes a breakdown of deposits included in and excluded from monetary base.

    A2.55 Other deposits also include repurchase agreements resembling a standard deposit that are held by money holders and are included in broad money. This applies only to SRFs 1SR and 2SR.

    A2.56Deposits excluded from broad money. These are transferable and other deposits that are not included in broad money. This category includes all deposits of non-money-holding sectors (central government, DCs, and nonresidents), as well as those categories of other sectors’ deposits that are not included in broad money. SRF 1SR includes a breakdown of deposits included in and excluded from monetary base.

    A2.57 In SRF 1SR, deposits of nonresidents include IMF No. 1, No. 2, and Securities Accounts, as well as UFC. The IMF securities are immediately cashable, are not traded, and are substitutes for deposits in IMF Account No. 1. Therefore, IMF securities should be classified as deposits of nonresidents in foreign currency and reported together with IMF Account No. 1. UFC reflects the country’s outstanding purchases of Fund resources, which increase the country’s liabilities to the IMF and are classified as a deposit of nonresidents in foreign currency.

    A2.58 In cases when a DC is unable to meet depositors’ withdrawal demands, because it has insufficient funds or because its operations have been suspended and deposits frozen, all customers’ deposits in such DCs should be classified in this category as long as the DC continues to exist as a legal entity.

    A2.59 Transferable and other deposits excluded from broad money but included in monetary base include separate lines for reporting required reserves (in domestic and possibly in foreign currency) that are determined by a central bank. These separate lines appear only in SRF 1SR.

    A2.60 Transferable and other deposits of nonresidents in foreign currency included in reserve-related liabilities are separately identified in SRF 1SR.

    A2.61Debt securities included in broad money. These are negotiable financial instruments that are included in broad money and are held by sectors designated as money holders. See asset instruments for a description of debt securities.

    A2.62Debt securities excluded from broad money. This category includes negotiable financial instruments that are not included in broad money. The category covers debt securities held by non-money-holding sectors (central government, DCs, and nonresidents), as well as those categories of other sectors’ holdings of debt securities that are not included in broad money.

    A2.63 This category also includes separate lines for reporting required reserves in the form of debt securities. These separate lines appear only in SRF 1SR and relate only to those countries where legal reserve requirements are fulfilled by holding debt securities issued by the central bank.

    A2.64 Debt securities issued by the central bank in foreign currency held by nonresidents and included in reserve-related liabilities are separately identified in SRF 1SR.

    A2.65Loans. This category includes all loans received from various sectors. Repurchase agreements with the central bank (in SRFs 2SR and 4SR only), ODCs, OFCs, and nonresidents are separately identified. See asset instruments for a description of loans.

    A2.66 Loans from nonresidents in foreign currency included in reserve-related liabilities are separately identified in SRF 1SR.

    A2.67Investment fund shares. See asset instruments for a general description of investment fund shares. MMF shares are divided into MMF shares included in and excluded from broad money. MMF shares are further divided into transferable and other. Both transferable and other MMF shares held by money-holding sectors are included in broad money. Lines for MMF shares appear only in SRF 2SR and for non-MMF shares in SRF 4SR.

    A2.68Insurance, pension, and standardized guarantee schemes. This category includes life insurance and annuity entitlements of households, pension entitlements of households, nonlife insurance technical reserves and provisions for calls under standardized guarantees, and liabilities of pension funds to pension managers. These entitlements, reserves, and provisions, except for liabilities of pension funds to pension managers, represent liabilities of the insurer, pension fund, or issuer of standardized guarantees and a corresponding asset of the policyholders or beneficiaries. Liabilities of pension funds to pension managers are liabilities to the pension managers when the pension manager is a unit different from the pension administrator and is entitled to any funding surplus.

    A2.69Financial derivatives and ESOs. See asset instruments for a description of financial derivatives. An ESO is an option to buy the equity of a company, offered to employees of the company as a form of remuneration. Financial derivatives of the central bank with nonresidents in foreign currency included in reserve-related liabilities are separately identified in SRF 1SR.

    A2.70Other accounts payable [MS]. This category includes Trade credit and advances, and Other. Trade credit and advances comprise trade credit received directly from suppliers of goods and services, advances received for work that is in progress (or is to be undertaken), and prepayments received for goods and services.

    A2.71 The Other subcategory separately identifies Provision for losses on financial assets, Consolidation adjustment for headquarters and branches, and Other, which includes without identifying separately settlement accounts, dividends payable, and miscellaneous liability items.

    A2.72 Provisions for losses on financial assets should be recorded within the Other accounts payable—other [MS], even though this treatment contrasts with national financial reporting standards and the IFRSs, in which this category does not appear as a liability on the balance sheet (but rather is deducted from outstanding asset amounts).

    A2.73Miscellaneous liability items should include all accounts not elsewhere classified in the FCs’ balance sheets. Major types of miscellaneous liability items often include suspense accounts, amounts related to taxes, and accrued wages, rent, or other operating expenses.

    A2.74SDR allocations are the counterpart to SDR holdings that have been provided by the IMF to the country. These appear only in SRF 1SR. SDR allocations should be valued on the basis of the market exchange rate as of the balance sheet date.

    A2.75Equity liability [MS]. See asset instruments for a general description of equity. Equity liability [MS] is recorded at book value and is divided into the following separate components:

    • a. Funds contributed by owners include the total amount from the initial and any subsequent issuance of shares, stocks, or other form of ownership of corporations and quasi-corporations (excluding the amount of FCs’ holdings of its own shares). They are further classified into funds contributed by residents and ­nonresidents.

    • b. Retained earnings constitute all previous years’ after-tax profits that have not been distributed to shareholders or appropriated as general or special reserves.

    • c. Current year result represents the accumulation of profit or loss since the beginning of the fiscal year.

    • d. General and special reserves are appropriations of retained earnings.

    • e. Valuation adjustment represents the net counterpart to changes in the value of assets and liabilities on the balance sheets of FCs, excluding those recorded in the profit or loss accounts. The valuation adjustment is market valued by definition. Any valuation adjustments arising from differences between the valuations in the source data and the monetary statistics methodology are also included in this item.

    Memorandum items

    Central bank float

    A2.76 This represents the amount that the central bank has provided in advance to DCs that have sent checks or other items for collection. Central bank float appears only in SRF 1SR.

    Accrued interest

    A2.77 This item represents separate data on accrued interest, incorporated into the outstanding amount of the financial asset or liability, disaggregated by ­financial instrument (deposits, loans, and debt ­securities).

    Arrears on loans and expected losses on loans

    A2.78 Arrears on loans should cover both principal and interest arrears. Given that this Manual recommends gross recording for loans at nominal value, including any arrears on accrued interest, this item allows to separately report arrears on loans.

    A2.79 Expected losses on loans are disaggregated by sector and facilitate the compilation of alternative presentations of loan data (e.g., for calculation of the expected realizable value of loans by economic sector). The accounting data on provisions for loan losses can be directly used in estimating the expected loan losses, if these data reflect, to a reasonable degree, the total expected losses on nonperforming loans. In cases where source data on provisions do not reasonably reflect the total expected losses on nonperforming loans, an attempt should be made to report a more accurate measure of expected losses.

    Claims on and liabilities to ODCs in liquidation

    A2.80 Separate data should be provided on claims on and liabilities to ODCs that are being reorganized or are in the process of being liquidated, if the balance sheet data of the nonoperating ODCs are not included in the coverage of SRF 2SR. This item, disaggregated by instrument and by domestic or foreign currency, is provided for consolidation purposes.

    Positions with nonresident financial corporations

    A2.81 This item provides total assets and liabilities with nonresidents for debt securities; loans; equity; insurance, pension, and standardized guarantee schemes; and financial derivatives with an of which subcategory specifying positions with FCs.

    A2.82 Further, a separate line identifies interbank positions with nonresident deposit-takers (in SRF 1SR) and positions with nonresident financial corporations (in SRF 4SR) with an of which subcategory specifying positions with nonresident affiliates.

    Positions with MMFs

    A2.83 These items in SRFs 1SR (loans only) and 2SR separately identify loans to and deposits of MMFs, allowing the compilation of interbank positions as defined in the 2008 SNA, by eliminating positions with MMFs from intra-DC positions.

    Loans to households

    A2.84 This item in SRFs 2SR and 4SR separately identifies in an of which subcategory loans provided to and deposits received from households.

    Maturity breakdowns

    A2.85 These items present debt securities and loans with maturity of one year or less disaggregated by counterpart sector and by domestic or foreign currency.

    Nominal value of debt securities issued

    A2.86 This item represents total issued debt securities at nominal value.

    Market value of equity liabilities

    A2.87 Data on market value of equity disaggregated by holding sector should be provided as a memorandum item in the SRFs.

    II. Guidelines for Completion of Standardized Report Form 5SR for Money Aggregates

    A. Methodology

    A2.88 SRF 5SR is designed to accord with the methodology in this Manual. The methodology emphasizes the application of cross-country consistency for financial asset/liability classification, sectoring, and accounting rules, resulting in a generally high degree of cross-country data comparability. For the money aggregates, however, the methodology accommodates cross-country differences, recognizing that compilers determine money aggregates in accordance with the structure and other features of the financial system in their economy and against the concepts and definitions set in this Manual.

    B. Broad Money and Components (Upper Section of SRF 5SR)

    A2.89 The focus in the methodology of this Manual is Broad money. The reporting lines in the upper section of SRF 5SR should be sufficient for reporting all components of broad money. In SRF 5SR, the data reporting is not standardized across countries. Some examples of possible nonstandardized components of money aggregates are:

    • a. In some countries, Broad money is defined to include deposits with maturities of one year or less, whereas other countries include deposits with maturities of two years or less. Despite such differences in the definition of the deposit component, all components of Broad money for these countries are included in SRF 5SR through the line Deposits in DCs. For each reporting date, the line Deposits in DCs of SRF 5SR should equal the sum of (1) Deposits included in broad money in SRF 1SR and (2) Deposits included in broad money in SRF 2SR.

    • b. In some countries, the central government issues currency (most often, in the form of coins), and the outstanding amount of such currency is included in broad money. Such currency should be reported in line Currency issued by central government of SRF 5SR. The central government holds currency issued by the central bank which should be reported in line Currency held by the central government. Being a liability and asset of the central government, rather than of the central bank, the currency does not appear in SRF 1SR and the data must be obtained directly from the central government.

    • c. In dollarized economies, or economies with co-circulation of currencies, the foreign currency in circulation should be included in Broad money. Such currency should be reported in line Foreign currency in circulation outside depository corporations in SRF 5SR. Being a liability of nonresidents, rather than of the central bank, the currency does not appear in SRF 1SR and the data must be estimated by the authorities.

    • d. In some countries, Broad money is defined to include some types of liabilities of nonfinancial corporations. The most prevalent types are deposits in public nonfinancial corporations (typically, savings deposits in the post office) and electronic deposits issued by other nonfinancial corporations (a relatively new type of deposit account in a few countries). In SRF 5SR, these broad money components are reported in line Deposits in nonfinancial corporations. Because such deposits are not liabilities of DCs, the data do not appear in SRFs 1SR or 2SR and, therefore, must be obtained directly from the nonfinancial corporations that accept the deposits. An exception arises when the postal savings unit within a public nonfinancial corporation is treated as a separate institutional unit and is classified as an ODC. If classified as an ODC, the postal savings unit reports its deposit liabilities through the regular channels for ODCs reporting, resulting in the inclusion of the postal savings unit’s deposits in line Deposits included in broad money of SRF 2SR, which are included in line Deposits in DCs of SRF 5SR.

    • e. For some countries, Broad Money may include some central-bank-issued and/or ODC-issued debt securities held by money-holding sectors. This component of broad money is reported in line Debt securities included in broad money of SRF 1SR and/or the same line of SRF 2SR. The sum of these lines for each reporting period is entered in line Debt securities issued by DCs of SRF 5SR.

    • f. In some countries, Broad money may include MMF shares of money holders. This component of broad money is reported in line MMF shares of SRF 5SR.

    • g. For some countries, Broad money may include debt securities issued by the central government. This component of broad money is reported in line Debt securities issued by the ­central government.

    C. Money, National Definitions (Lower Section of SRF 5SR)

    A2.90 The data for the national definitions of monetary base and broad money are reported in the lower section of SRF 5SR. The reported broad money aggregate should represent the broadest and most used aggregate for each country.

    A2.91 Whereas individual components of money aggregates (M1, M2, M3, etc.) are not reported in SRF 5SR, these are widely compiled and disseminated by countries. The components of the money aggregates often differ across countries. M1 is almost universally defined as currency in circulation plus transferable deposits held by all money-holding sectors. Nonetheless, M1 components may differ across countries. For example, one country may define the transferable deposit component of M1 to include traveler’s checks issued by DCs, whereas another county may exclude the traveler’s checks from transferable deposits and, therefore, from M1 (and possibly from all money aggregates). Cross-country differences in the definition of M1 generally are relatively minor.

    A2.92 The components of M2 and higher-ordered money aggregates depend on the specific types of financial instruments included at the national level. Cross-country differences in national definitions of lowered-ordered aggregates also arise from differences in the maturity categories of nontransferable deposits included in a particular money aggregate. For example, the definition of M2 in one country may include time deposits with maturities of one year or less, whereas another country’s M2 definition may include time deposits with maturities of two years or less.

    A2.93 The line Broad money at the top of SRF 5SR will contain the data for the highest-order money aggregate reported in the lower section of SRF 5SR. Conceivably, a country might designate M4 as its official measure of broad money but also might compile an unofficial M5 (and possibly higher-ordered money aggregates). In this case, Broad money at the top of SRF 5SR would agree with the data for M4 in the lower section Money aggregates of SRF 5SR. Each country is encouraged to define Broad money as the broadest money aggregate for which reliable data are available.

    A2.94 If a country seasonally adjusts money aggregates, its data are reported in the lower section of SRF 5SR, which includes a line for each seasonally adjusted money aggregate. The seasonally adjusted aggregate for broad money should also be reported in the upper section of SRF 5SR in line Broad money seasonally adjusted. For countries that do not produce seasonally adjusted data, lines for seasonally adjusted data do not appear in SRF 5SR. Seasonal adjustments may be undertaken by STA, using unadjusted data as reported in SRF 5SR, and adjustment procedures that are standardized across countries for which seasonally adjusted data do not appear on SRF 5SR.

    Table A2.1llustrative Sectoral Balance Sheet/Standardized Report Form for the Central Bank
    Opening stockTransactionsValuation changesOCVAClosing stock
    Assets
    Monetary gold and SDRs33,83636118231134,690
    Monetary gold27,258010031127,669
    SDR holdings6,5783618207,021
    Currency and deposits118,84410,4642,4640131,772
    Holdings of foreign currency2,3295232502,877
    Included in reserve assets2,3295232502,877
    Other00000
    Transferable deposits23,0421,443301024,787
    In domestic currency11002
    Other depository corporations11002
    Other financial corporations00000
    Nonresidents00000
    In foreign currency23,0411,443301024,784
    Other depository corporations00000
    Other financial corporations00000
    Nonresidents23,0411,443301024,784
    Included in reserve assets23,0411,443301024,784
    Other00000
    Other deposits93,4738,4982,1380104,109
    In domestic currency00000
    Other depository corporations00000
    Other financial corporations00000
    Nonresidents00000
    In foreign currency93,4738,4982,1380104,109
    Other depository corporations00000
    Other financial corporations00000
    Nonresidents93,4738,4982,1380104,109
    Included in reserve assets93,4738,4982,1380104,109
    Reserve position in the Fund00000
    Reserve tranche position00000
    Loans to the IMF and holdings of IMF notes00000
    Other93,4738,4982,1380104,109
    Other00000
    Debt securities651,86011,3025,0970645,655
    In domestic currency33,459−8,422−685024,352
    Other depository corporations00000
    Other financial corporations00000
    Central government33,459−8,422−685024,352
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    In foreign currency618,401−2,8805,7820621,303
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents618,401−2,8805,7820621,303
    Included in reserve assets618,401−2,8805,7820621,303
    Debt securities IMF00000
    Other00000
    Loans38,1807064932837,195
    In domestic currency34,458−8020−32833,327
    Other depository corporations27,334−1710027,162
    Repurchase agreements6,850−1006,849
    Other20,484−1700020,314
    Other financial corporations00000
    Repurchase agreements00000
    Other00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations4,658−4940−544,110
    Other nonfinancial corporations1,64400−2741,370
    Households and NPISHs822−13700685
    Nonresidents00000
    Loans IMF00000
    Repurchase agreements00000
    Other00000
    In foreign currency3,723964903,868
    Other depository corporations00000
    Repurchase agreements00000
    Other00000
    Other financial corporations00000
    Repurchase agreements00000
    Other00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents3,723964903,868
    Loans IMF298080306
    Repurchase agreements00000
    Included in reserve assets00000
    Other00000
    Other3,425964103,562
    Included in reserve assets00000
    Other3,425964103,562
    Investment fund shares00000
    In domestic currency00000
    Money market funds00000
    Non–money market funds00000
    Investment fund shares nonresidents00000
    In foreign currency00000
    Money market funds00000
    Non–money market funds00000
    Investment fund shares nonresidents00000
    Included in reserve assets00000
    Other00000
    Equity2,6920602,698
    In domestic currency00000
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Nonresidents00000
    In foreign currency2,6920602,698
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Nonresidents2,6920602,698
    Included in reserve assets00000
    Other2,6920602,698
    Insurance, pension, and standardized guarantee schemes68513700822
    Nonlife insurance technical reserves and provisions for calls under standardized guarantees68513700822
    In domestic currency68513700822
    Other financial corporations68513700822
    Nonresidents00000
    In foreign currency00000
    Other financial corporations00000
    Nonresidents00000
    Claims of pension funds on pension managers00000
    In domestic currency00000
    Other depository corporations00000
    Other financial corporations00000
    Nonresidents00000
    In foreign currency00000
    Other depository corporations00000
    Other financial corporations00000
    Nonresidents00000
    Financial derivatives11,37112885011,584
    In domestic currency7,946159−5908,046
    Other depository corporations1,7811,0851741113,151
    Other financial corporations6,165−926−233−1114,895
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    In foreign currency3,425−3114403,538
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents3,425−3114403,538
    Included in reserve assets00000
    Other3,425−3114403,538
    Other accounts receivable15,3722,922135018,430
    Trade credit and advances1,111269301,383
    In domestic currency83713500972
    Other depository corporations274000274
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations54813700685
    Households and NPISHs15−20013
    Nonresidents00000
    In foreign currency27413430411
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents27413430411
    Other14,2612,654132017,046
    In domestic currency3,7062,664006,370
    Residents3,7062,664006,370
    Nonresidents00000
    In foreign currency10,555−10132010,676
    Residents7−3004
    Nonresidents10,547−7132010,672
    IMF quota9,726012209,848
    Other821−7100824
    Nonfinancial assets2,05856703791,112
    Fixed assets1,784−6170−681,099
    Repossessed/foreclosed assets00000
    Other nonfinancial assets548500−311287
    less: Accumulated depreciation274000274
    TOTAL ASSETS874,8981,4388,018396883,958
    Liabilities
    Currency in circulation174,38420,87900195,264
    Deposits included in broad money1,8147615581,848
    Deposits included in monetary base1,8147615−581,848
    Transferable deposits1,8147615−581,848
    In domestic currency56717100738
    Other financial corporations64−60005
    State and local government12217400296
    Public nonfinancial corporations3815600437
    Other nonfinancial corporations00000
    Households and NPISHs00000
    In foreign currency1,247−9415−581,110
    Other financial corporations822−22610−58548
    State and local government00000
    Public nonfinancial corporations42513250562
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Other deposits00000
    In domestic currency00000
    Other financial corporations00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    In foreign currency00000
    Other financial corporations00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Deposits excluded from monetary base00000
    Transferable deposits00000
    In domestic currency00000
    Other financial corporations00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    In foreign currency00000
    Other financial corporations00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Other deposits00000
    In domestic currency00000
    Other financial corporations00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    In foreign currency00000
    Other financial corporations00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Deposits excluded from broad money96,99612,9092015884,346
    Deposits included in monetary base18,581−2,559275816,107
    Transferable deposits16,389−2,7480013,641
    In domestic currency16,389−2,7480013,641
    Other depository corporations16,389−2,7480013,641
    Required reserves and clearing balances16,389−2,7480013,641
    Other00000
    Other financial corporations00000
    Required reserves and clearing balances00000
    Other00000
    In foreign currency00000
    Other depository corporations00000
    Required reserves and clearing balances00000
    Other00000
    Other financial corporations00000
    Required reserves and clearing balances00000
    Other00000
    Other deposits2,19218927582,466
    In domestic currency00000
    Other depository corporations00000
    Required reserves00000
    Other00000
    Other financial corporations00000
    Required reserves00000
    Other00000
    In foreign currency2,19218927582,466
    Other depository corporations2,19218927582,466
    Required reserves00000
    Other2,19218927582,466
    Other financial corporations00000
    Required reserves00000
    Other00000
    Deposits excluded from monetary base78,415−10,350174068,239
    Transferable deposits76,867−11,276174065,764
    In domestic currency63,442−11,6240051,817
    Other depository corporations00000
    Other financial corporations00000
    Central government55,879−12,0290043,849
    State and local government00000
    Public nonfinancial corporations78515900944
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents6,778246007,024
    In foreign currency13,425348174013,947
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations3,6993485204,099
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents9,726012209,848
    IMF No. 1 and securities accounts9,716012209,838
    IMF No. 2 account1000010
    Use of Fund credit00000
    Reserve-related liabilities00000
    Other00000
    Other deposits1,548926002,474
    In domestic currency1,546926002,472
    Other depository corporations1,542925002,467
    Other financial corporations42006
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    In foreign currency20002
    Other depository corporations00000
    Other financial corporations00000
    Central government20002
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    Reserve-related liabilities00000
    Other00000
    Debt securities included in broad money13,6457810014,426
    Debt securities included in monetary base00000
    In domestic currency00000
    Other financial corporations00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    In foreign currency00000
    Other financial corporations00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Debt securities excluded from monetary base13,6457810014,426
    In domestic currency13,6457810014,426
    Other financial corporations5,425411005,836
    State and local government00000
    Public nonfinancial corporations5,480685006,165
    Other nonfinancial corporations2,740−315002,425
    Households and NPISHs00000
    In foreign currency00000
    Other financial corporations00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Debt securities excluded from broad money393,3697,3961,5910384,383
    Debt securities included in monetary base00000
    In domestic currency00000
    Other depository corporations00000
    Required reserves00000
    Other00000
    Other financial corporations00000
    Required reserves00000
    Other00000
    In foreign currency00000
    Other depository corporations00000
    Required reserves00000
    Other00000
    Other financial corporations00000
    Required reserves00000
    Other00000
    Debt securities excluded from monetary base393,369−7,396−1,5910384,383
    In domestic currency393,369−7,396−1,5910384,383
    Other depository corporations252,333−1,076−1,0100250,247
    Other financial corporations90,880−2,111−905087,865
    Central government19,2451,330148020,723
    State and local government00000
    Public nonfinancial corporations210−14719082
    Other nonfinancial corporations9,671−1,52367708,825
    Households and NPISHs1,830−303−13001,397
    Nonresidents19,200−3,566−390015,244
    In foreign currency00000
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    Reserve-related liabilities00000
    Other00000
    Loans126,9703,41000130,380
    In domestic currency126,9703,41000130,380
    Other depository corporations126,9703,41000130,380
    Repurchase agreements35,469−1450035,324
    Other loans91,5013,5550095,056
    Other financial corporations00000
    Repurchase agreements00000
    Other loans00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    Loans IMF00000
    Repurchase agreements00000
    Other loans00000
    In foreign currency00000
    Other depository corporations00000
    Repurchase agreements00000
    Other00000
    Other financial corporations00000
    Repurchase agreements00000
    Other00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    Loans IMF00000
    Repurchase agreements00000
    Reserve-related liabilities00000
    Other00000
    Other00000
    Reserve-related liabilities00000
    Other00000
    Insurance, pension, and standardized guarantee schemes00000
    Pension entitlements of households00000
    In domestic currency00000
    Residents00000
    Nonresidents00000
    In foreign currency00000
    Residents00000
    Nonresidents00000
    Liabilities of pension funds to pension managers00000
    In domestic currency00000
    Other depository corporations00000
    Other financial corporations00000
    Nonresidents00000
    In foreign currency00000
    Other depository corporations00000
    Other financial corporations00000
    Nonresidents00000
    Provisions for calls under standardized guarantees00000
    In domestic currency00000
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    In foreign currency00000
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    Financial derivatives and employee stock options12,604854641012,817
    In domestic currency12,604854−641012,817
    Other depository corporations6,713907−3594117,672
    Other financial corporations5,891−53−282−4115,145
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    In foreign currency00000
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    Reserve-related liabilities00000
    Other00000
    Other accounts payable5,39454112584,596
    Trade credit and advances1,753151001,905
    In domestic currency1,342151001,494
    Other depository corporations3600036
    Other financial corporations1800018
    Central government3271400341
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations959137001,096
    Households and NPISHs20003
    Nonresidents00000
    In foreign currency411000411
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents411000411
    Other3,640−6921−2582,692
    Provisions for losses1,703300−2581,475
    Provisions for loan losses1,233300−2581,005
    Provisions for other losses470000470
    Consolidation adjustment for headquarters and branches−2−500−7
    Other in domestic currency1,822−660001,161
    Residents1,822−660001,161
    Nonresidents00000
    Other in foreign currency118−571062
    Residents98−391060
    Nonresidents20−18002
    SDR allocations6,62909206,720
    Equity43,0933,7189,94113849,178
    Funds contributed by owners30003
    Retained earnings54,7041800−2,13052,754
    Current year result−16,580−3,0012,596−138−17,122
    General and special reserves3,827−89702,1305,060
    Valuation adjustment1,13907,34408,483
    TOTAL LIABILITIES874,8981,4388,018396883,958
    Vertical check00000
    Memorandum Items
    End of period exchange rate4,4114,466
    Assets
    1. Central bank float1551900174
    2. Accrued interest on deposits1,644137001,781
    3. Accrued interest on loans82213700959
    4. Arrears on loans (principal and interest)00000
    5. Expected losses on loans328003280
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations5400−540
    Other nonfinancial corporations27400−2740
    Households and NPISHs00000
    Nonresidents00000
    6. Accrued interest on debt securities7,535137007,672
    7. Claims on other depository corporations in liquidation00000
    Transferable deposits00000
    Domestic currency00000
    Foreign currency00000
    Other deposits00000
    Domestic currency00000
    Foreign currency00000
    Debt securities00000
    Domestic currency00000
    Foreign currency00000
    Loans00000
    Domestic currency00000
    Foreign currency00000
    Equity and investment fund shares00000
    Domestic currency00000
    Foreign currency00000
    Financial derivatives00000
    Domestic currency00000
    Foreign currency00000
    Other accounts receivable00000
    Domestic currency00000
    Foreign currency00000
    8. Debt securities nonresidents618,4012,8805,7820621,303
    Of which: Issued by financial corporations203,4451375480204,130
    9. Loans nonresidents3,723964903,868
    Of which: To financial corporations00000
    10. Equity2,6920602,698
    Of which: Issued by financial corporations00000
    11. Insurance, pension, and standardized guarantee schemes nonresidents00000
    Of which: With financial corporations00000
    12. Financial derivatives nonresidents3,4253114403,538
    Of which: With financial corporations2,740−27427402,740
    13. Loans other depository corporations27,3341710027,162
    Of which: Loans to money market funds00000
    14. Debt securities with maturity of 1 year or less553,61710,7846,5370549,370
    In domestic currency27,400−5,6170021,783
    Other depository corporations00000
    Other financial corporations00000
    Central government27,400−5,6170021,783
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    In foreign currency526,217−5,1676,5370527,587
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents526,217−5,1676,5370527,587
    15. Loans with maturity of 1 year or less27,4001370027,263
    In domestic currency27,400−1370027,263
    Other depository corporations27,400−1370027,263
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    In foreign currency00000
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    Liabilities
    1. Accrued interest on deposits20002
    2. Accrued interest on loans2,466137002,603
    3. Arrears on loans (principal and interest)00000
    Of which: Loans from IMF00000
    4. Accrued interest on debt securities9,0421,370007,672
    5. Equity: Market value by holding sector43,09306,085049,178
    Other depository corporations00000
    Other financial corporations00000
    Central government43,09306,085049,178
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    6. Liabilities to other depository corporations in liquidation00000
    Transferable deposits00000
    Domestic currency00000
    Foreign currency00000
    Other deposits00000
    Domestic currency00000
    Foreign currency00000
    Debt securities00000
    Domestic currency00000
    Foreign currency00000
    Loans00000
    Domestic currency00000
    Foreign currency00000
    Financial derivatives and employee stock options00000
    Domestic currency00000
    Foreign currency00000
    Other accounts payable00000
    Domestic currency00000
    Foreign currency00000
    7. Debt securities nonresidents19,2003,566390015,244
    Of which: Held by financial corporations17,810−3,425−411013,974
    8. Loans nonresidents00000
    Of which: Held by financial corporations00000
    9. Financial derivatives and employee stock options nonresidents00000
    Of which: With financial corporations00000
    10. Transferable deposits other depository corporations16,3892,7480013,641
    Of which: Transferable deposits from money market funds00000
    11. Other deposits other depository corporations2,19218927582,466
    Of which: Other deposits from money market funds00000
    12. Loans other depository corporations126,9703,41000130,380
    Of which: Loans from money market funds00000
    13. Debt securities with maturity of 1 year or less348,2915,6119250341,755
    In domestic currency348,291−5,611−9250341,755
    Other depository corporations248,773−1,515−1,0100246,247
    Other financial corporations44,388−959−494042,935
    Central government20,2041,330148021,682
    State and local government00000
    Public nonfinancial corporations2,950596003,546
    Other nonfinancial corporations11,041−8381,362011,565
    Households and NPISHs1,830−714−5410575
    Nonresidents19,105−3,511−390015,205
    In foreign currency00000
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    14. Loans with maturity of 1 year or less126,9703,41000130,380
    In domestic currency126,9703,41000130,380
    Other depository corporations126,9703,41000130,380
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    In foreign currency00000
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    15. Debt securities nominal value395,5196,35200389,167
    Note: OCVA = other changes in the volume of assets; SDR = Special Drawing Rights; NPISHs = nonprofit institutions serving households.
    Table A2.2Illustrative Sectoral Balance Sheet/Standardized Report Form for Other Depository Corporations
    Opening stockTransactionsValuation changesOCVAClosing stock
    Assets
    Currency and deposits184,8656,2561,3764,209196,706
    Currency32,8987,482251,17141,575
    Domestic31,7227,093086039,675
    Foreign1,176388253111,900
    Transferable deposits62,550−22148744063,256
    In domestic currency20,131−2,613026117,778
    Central bank17,083−2,50207414,655
    Required reserves and clearing balances16,261−2,7020013,559
    Other8222000741,096
    Other depository corporations1,433−5001871,570
    Other financial corporations00000
    Nonresidents1,616−61001,554
    In foreign currency42,4192,39348717945,478
    Central bank3,01431637583,425
    Required reserves and clearing balances00000
    Other3,01431637583,425
    Other depository corporations1,671290211212,103
    Other financial corporations00000
    Nonresidents37,7341,787429039,950
    Other deposits89,418−1,0058652,59891,875
    In domestic currency27,856−1,01502,56129,402
    Central bank1,53955505482,643
    Required reserves00000
    Other1,53955505482,643
    Other depository corporations26,313−1,57002,01326,756
    Other financial corporations00000
    Nonresidents30003
    In foreign currency61,562108653762,473
    Central bank00000
    Required reserves00000
    Other00000
    Other depository corporations596−107737533
    Other financial corporations00000
    Nonresidents60,966117857061,940
    Debt securities936,42513,5442,81411,536964,319
    In domestic currency846,05912,4881,54211,536871,625
    Central bank249,983−1,007−1,4590247,517
    Required reserves00000
    Other249,983−1,007−1,4590247,517
    Other depository corporations110,851−1,1849782,535113,180
    Other financial corporations7,168−197862487,305
    Central government239,65015,0332,2373,096260,016
    State and local government1,6442001171,781
    Public nonfinancial corporations59,607774−28418560,282
    Other nonfinancial corporations168,933−486−6484,733172,532
    Households and NPISHs81−10079
    Nonresidents8,143−4646326228,933
    In foreign currency90,3661,0561,273092,695
    Central bank00000
    Required reserves00000
    Other00000
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents90,3661,0561,273092,695
    Loans2,710,28010,7102,11810,4162,712,104
    In domestic currency2,574,637−12,344010,4162,572,708
    Central bank127,6304,74600132,376
    Repurchase agreements35,627−1250035,502
    Other92,0034,8710096,874
    Other depository corporations158,8504,93100163,781
    Repurchase agreements41,100−6,8500034,250
    Other117,75011,78100129,531
    Other financial corporations86,188−2,0520084,136
    Repurchase agreements2,335−144002,191
    Other83,853−1,9080081,945
    Central government104,602−11,8900092,713
    State and local government14,367−110014,356
    Public nonfinancial corporations127,4201,8160685129,921
    Other nonfinancial corporations732,3992,71105,998741,107
    Households and NPISHs1,205,042−12,94203,6281,195,727
    Nonresidents18,139346010518,589
    Repurchase agreements274000274
    Other17,865346010518,315
    In foreign currency135,6441,6342,1180139,396
    Central bank3−3000
    Repurchase agreements00000
    Other3−3000
    Other depository corporations5,199−3686004,891
    Repurchase agreements00000
    Other5,199−3686004,891
    Other financial corporations4,88370512105,709
    Repurchase agreements00000
    Other4,88370512105,709
    Central government10001
    State and local government00000
    Public nonfinancial corporations2,15812702,186
    Other nonfinancial corporations81,7151261,315083,157
    Households and NPISHs157−4620113
    Nonresidents41,5281,219593043,340
    Repurchase agreements00000
    Other41,5281,219593043,340
    Investment fund shares143,8503,0942852,900150,129
    In domestic currency123,3001,58002,900127,780
    Money market funds68,50052502,90071,925
    Non–money market funds54,8001,0550055,855
    Investment fund shares nonresidents00000
    In foreign currency20,5501,514285022,349
    Money market funds20,5501,514285022,349
    Non–money market funds00000
    Investment fund shares nonresidents00000
    Equity64,1103,41186141860,256
    In domestic currency60,185−3,361−91941856,323
    Central bank00000
    Other depository corporations4,6850−9304,593
    Other financial corporations29,834−3,369−748025,717
    Central government00000
    State and local government00000
    Public nonfinancial corporations1,0480−1010947
    Other nonfinancial corporations17,2068−29241817,340
    Nonresidents7,412031507,727
    In foreign currency3,925−505903,934
    Central bank00000
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Nonresidents3,925−505903,934
    Insurance, pension, and standardized guarantee schemes2,055137002,192
    Nonlife insurance technical reserves and provisions for calls under standardized guarantees2,055137002,192
    In domestic currency2,055137002,192
    Other financial corporations2,055137002,192
    Nonresidents00000
    In foreign currency00000
    Other financial corporations00000
    Nonresidents00000
    Claims of pension funds on pension managers00000
    In domestic currency00000
    Other depository corporations00000
    Other financial corporations00000
    Nonresidents00000
    In foreign currency00000
    Other depository corporations00000
    Other financial corporations00000
    Nonresidents00000
    Financial derivatives13,8372,4551,89467215,070
    In domestic currency9,3162,126−1,94864410,138
    Central bank6,165548−1,0964116,028
    Other depository corporations3,1511,578−8522334,110
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    In foreign currency4,52132954284,932
    Central bank00000
    Other depository corporations00000
    Other financial corporations2,7407982403,562
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents1,781−46930281,370
    Other accounts receivable75,3439,630913885,120
    Trade credit and advances2,136−2901212,228
    In domestic currency2,136−2901212,228
    Central bank00000
    Other depository corporations00000
    Other financial corporations7832270471,057
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations1,237−2230741,088
    Households and NPISHs116−330082
    Nonresidents00000
    In foreign currency00000
    Central bank00000
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    Other73,2079,66091782,893
    In domestic currency72,5229,5480082,071
    Residents72,5229,5480082,071
    Nonresidents00000
    In foreign currency685111917822
    Residents00000
    Nonresidents685111917822
    Nonfinancial assets76,6361,456056375,743
    Fixed assets53,818719030754,844
    Repossessed/foreclosed assets00000
    Other nonfinancial assets25,284−2,175024823,357
    less: Accumulated depreciation2,46600−82,458
    TOTAL ASSETS4,207,40219,5383,84830,8524,261,641
    Liabilities
    Deposits included in broad money2,184,21040,6803962,2372,223,049
    Transferable deposits119,5573,8600−187123,230
    In domestic currency119,5573,8600−187123,230
    Other financial corporations2,2231,3910−1873,427
    State and local government5,109609005,718
    Public nonfinancial corporations1,966−641001,325
    Other nonfinancial corporations45,756−2,7780042,978
    Households and NPISHs64,5025,2800069,782
    In foreign currency00000
    Other financial corporations00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Other deposits2,064,65336,820396−2,0502,099,818
    In domestic currency2,033,73337,9120−2,0132,069,631
    Other financial corporations114,457−1,6820−2,013110,762
    State and local government49,69310,6740060,367
    Public nonfinancial corporations118,5328,85800127,390
    Other nonfinancial corporations400,2444,46000404,704
    Households and NPISHs1,350,80615,602001,366,409
    In foreign currency30,920−1,092396−3730,187
    Other financial corporations2,079−2,00031−3773
    State and local government00000
    Public nonfinancial corporations6,819−36210006,556
    Other nonfinancial corporations20,8661,268249022,384
    Households and NPISHs1,15611601,174
    Deposits excluded from broad money171,14019,667792,237153,789
    Transferable deposits29,507−13,512018716,181
    In domestic currency25,933−13,233018712,886
    Central bank4−2003
    Other depository corporations1,20423501871,626
    Other financial corporations00000
    Central government11,037−3,461007,576
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations714606001,320
    Households and NPISHs00000
    Nonresidents12,974−10,612002,362
    In foreign currency3,574−279003,295
    Central bank00000
    Other depository corporations1,589−26501211,445
    Other financial corporations1,985−140−1211,850
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    Other deposits141,633−6,155792,050137,607
    In domestic currency135,894−6,34802,013131,558
    Central bank00000
    Other depository corporations23,618−2,37802,01323,253
    Other financial corporations00000
    Central government83,092−4,8400078,252
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs68513700822
    Nonresidents28,4997320029,231
    In foreign currency5,73919379376,049
    Central bank28−28001
    Other depository corporations357−65437333
    Other financial corporations00000
    Central government47−41044
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents5,3072917405,671
    Debt securities included in broad money27,5153,1081,3631,19226,962
    In domestic currency27,515−3,1081,3631,19226,962
    Other financial corporations6,3001,497−65−1,5486,184
    State and local government20002
    Public nonfinancial corporations20287−1539314
    Other nonfinancial corporations16,249−3,5428591,58715,153
    Households and NPISHs4,762−1,1505841,1145,310
    In foreign currency00000
    Other financial corporations00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Debt securities excluded from broad money196,7177,2152,5273,263204,668
    In domestic currency191,0816,814−2,6033,055198,347
    Central bank00000
    Other depository corporations110,8153,325−1,3502,546115,336
    Other financial corporations33,5763,038−67050936,453
    Central government4,74090004,830
    State and local government00000
    Public nonfinancial corporations2295−50229
    Other nonfinancial corporations5,911568−8906,390
    Households and NPISHs34,614−212−473033,929
    Nonresidents1,1950−1501,179
    In foreign currency5,636401762086,321
    Central bank00000
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations548−765208685
    Households and NPISHs00000
    Nonresidents5,0884777105,636
    Loans344,1673,7881,7281,747343,854
    In domestic currency205,31931801,747207,383
    Central bank27,584−2000027,384
    Repurchase agreements6,8500006,850
    Other20,734−2000020,534
    Other depository corporations157,1573,38600160,543
    Repurchase agreements41,100−6,8500034,250
    Other116,05710,23600126,293
    Other financial corporations8,482−116008,365
    Repurchase agreements00000
    Other8,482−116008,365
    Central government6,418−85201,6747,240
    State and local government00000
    Public nonfinancial corporations5172300539
    Other nonfinancial corporations4,104−2,011002,093
    Households and NPISHs98521001,007
    Nonresidents7167073212
    Repurchase agreements00000
    Other7167073212
    In foreign currency138,848−4,1061,7280136,470
    Central bank00000
    Repurchase agreements00000
    Other00000
    Other depository corporations5,818−1,11111104,818
    Repurchase agreements00000
    Other5,818−1,11111104,818
    Other financial corporations731−1190729
    Repurchase agreements00000
    Other731−1190729
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations133−27120−137
    Households and NPISHs00000
    Nonresidents132,167−2,7131,6060131,060
    Repurchase agreements22026300483
    Other131,947−2,9751,6060130,578
    Money market fund shares637,05020,5581,5680659,176
    Money market fund shares included in broad money548,00016,5881,7020566,290
    Transferable money market fund shares130,1504,5923400135,082
    In domestic currency102,7504,11000106,860
    Other financial corporations41,1001,3700042,470
    State and local government2,740137002,877
    Public nonfinancial corporations4,110137004,247
    Other nonfinancial corporations27,4008220028,222
    Households and NPISHs27,4001,6440029,044
    In foreign currency27,400482340028,222
    Other financial corporations00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations20,550430255021,235
    Households and NPISHs6,850528506,987
    Other money market fund shares417,85011,9961,3610431,208
    In domestic currency308,2505,27700313,527
    Other financial corporations130,1508,90500139,055
    State and local government24,6608220025,482
    Public nonfinancial corporations30,140−5,1490024,991
    Other nonfinancial corporations68,5008,0550076,555
    Households and NPISHs54,800−7,3560047,444
    In foreign currency109,6006,7191,3610117,681
    Other financial corporations54,800664681056,145
    State and local government00000
    Public nonfinancial corporations8,2203510208,357
    Other nonfinancial corporations39,7305,968494046,192
    Households and NPISHs6,850528506,987
    Money market fund shares excluded from broad money89,0503,970−134092,886
    In domestic currency68,5003,797−372071,925
    Central bank00000
    Other depository corporations68,5003,797−372071,925
    Central government00000
    Nonresidents00000
    In foreign currency20,550173238020,961
    Central bank00000
    Other depository corporations20,550173238020,961
    Central government00000
    Nonresidents00000
    Insurance, pension, and standardized guarantee schemes00000
    Life insurance and annuity entitlements of households00000
    In domestic currency00000
    Residents00000
    Nonresidents00000
    In foreign currency00000
    Residents00000
    Nonresidents00000
    Pension entitlements of households00000
    In domestic currency00000
    Residents00000
    Nonresidents00000
    In foreign currency00000
    Residents00000
    Nonresidents00000
    Nonlife insurance technical reserves and provisions for calls under standardized guarantees00000
    In domestic currency00000
    Central bank00000
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    In foreign currency00000
    Central bank00000
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    Liabilities of pension funds to pension managers00000
    In domestic currency00000
    Other depository corporations00000
    Other financial corporations00000
    Nonresidents00000
    In foreign currency00000
    Other depository corporations00000
    Other financial corporations00000
    Nonresidents00000
    Financial derivatives and employee stock options15,6181,37768094717,262
    In domestic currency15,3441,490−65694717,125
    Central bank1,781684271112,603
    Other depository corporations3,8361,096−41104,521
    Other financial corporations1,644−311−2375481,644
    Central government00000
    State and local government00000
    Public nonfinancial corporations5481000174822
    Other nonfinancial corporations00000
    Households and NPISHs4,7950004,795
    Nonresidents2,740−79−351142,740
    In foreign currency274−113−240137
    Central bank00000
    Other depository corporations00000
    Other financial corporations274−113−240137
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    Other accounts payable244,36323,345011,561232,580
    Trade credit and advances4,83839905445,781
    In domestic currency4,83839905445,781
    Central bank274000274
    Other depository corporations10001
    Other financial corporations316−100315
    Central government00000
    State and local government00000
    Public nonfinancial corporations1,64410003852,129
    Other nonfinancial corporations2,60330001593,062
    Households and NPISHs00000
    Nonresidents00000
    In foreign currency00000
    Central bank00000
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations00000
    Other nonfinancial corporations00000
    Households and NPISHs00000
    Nonresidents00000
    Other239,525−23,743011,017226,799
    Provisions for losses131,607−3740114131,348
    Provisions for loan losses92,499−3740−43491,691
    Provisions for other losses39,1090054839,657
    Consolidation adjustment for headquarters and branches−911−23400−1,145
    Other in domestic currency108,829−23,135010,90396,596
    Residents108,829−23,135010,90396,596
    Nonresidents00000
    Other in foreign currency00000
    Residents00000
    Nonresidents00000
    Equity386,6233831,92012,142400,302
    Funds contributed by owners214,3941,81409,843226,051
    Residents186,5441,81409,843198,202
    Nonresidents27,85000027,850
    Retained earnings101,424−13,52708,77696,673
    Current year result23,13611,763−1,369−7,59425,936
    General and special reserves33,420−43301,11734,103
    Valuation adjustment14,24903,289017,538
    TOTAL LIABILITIES4,207,40219,5383,84830,8524,261,641
    Vertical check00000
    Memorandum Items
    End of period exchange rate4,4114,466
    Assets
    1. Accrued interest on deposits1,6440001,644
    2. Accrued interest on loans20,5501,756016222,468
    3. Arrears on loans (principal and interest)103,2434210516103,338
    4. Expected losses on loans34,310006,47327,837
    Other depository corporations00000
    Other financial corporations00000
    Central government00000
    State and local government00000
    Public nonfinancial corporations68500−274411
    Other nonfinancial corporations9,71400−2,2007,514
    Households and NPISHs23,91100−3,99919,912
    Nonresidents00000
    5. Accrued interest on debt securities10,275520012,604
    6. Claims on other depository corporations in liquidation00000
    Transferable deposits00000
    Domestic currency00000
    Foreign currency00000
    Other deposits00000
    Domestic currency00000
    Foreign currency00000
    Debt securities00000
    Domestic currency00000
    Foreign currency00000
    Loans00000
    Domestic currency00000
    Foreign currency00000
    Equity and investment fund shares00000
    Domestic currency00000
    Foreign currency00000
    Financial derivatives00000
    Domestic currency00000
    Foreign currency00000
    Other accounts receivable00000
    Domestic currency00000
    Foreign currency00000
    7. Debt securities nonresidents98,5085931,905622101,628
    Of which: Issued by financial corporations70,8295711,47042573,295
    8. Loans nonresidents59,6671,56459310561,929
    Of which: To financial corporations55,4851,5545419757,677
    9. Equity11,33750374011,660
    Of which: Issued by financial corporations6,867025707,124
    10. Insurance, pension, and standardized guarantee schemes nonresidents00000
    Of which: With financial corporations00000
    11. Financial derivatives nonresidents1,78146930281,370
    Of which: With financial corporations1,781−46930281,370
    12. Interbank position nonresident total99,051