- Johan Mathisen, and Anthony Pellechio
- Published Date:
- March 2007
© 2007 International Monetary Fund
Production: IMF Multimedia Services Division
Cover design: Lai Oy Louie
Typesetting: Elaine Wilson
Using the balance sheet approach in surveillance : framework and data sources and availability / Johan Mathisen and Anthony J. Pellechio — [Washington, D.C.] : International Monetary Fund, 
- p. cm.
- Includes bibliographical references.
- ISBN 978-1-58906-604-5
1. Financial statements. 2. International Monetary Fund. I. Mathisen, Johan. II. Pellechio, Anthony J. III. International Monetary Fund. HF5681.B2U85 2007
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- 1. Introduction
- 2. Main Objectives of the Balance Sheet Approach
- 3. Key Features of the Framework for Analysis
- 4. Data Methodologies and Availability for Balance Sheet Analysis
- 5. Using Timely and Frequent Balance Sheet Analysis in Surveillance
- 6. Conclusions
- Appendix I. Definitions of Sectors
- Appendix II. Definitions of Financial Instruments
- 1. Intersectoral Asset and Liability Position Matrix
- 2. South Africa: Net Intersectoral Asset and Liability Matrix
- 3. Sectors and Financial Instrument Categories
- 4. Potential Data Sources for Estimating Intersectoral Asset and Liability Matrix
- 5. Uses of Standardized Report Form Data to Estimate Intersectoral Asset and Liability Positions
- 6. Available Datasets for Balance Sheet Vulnerability Analysis
- 7. Data Reliability by Sector
- 8. Data Reliability by Financial Instrument
- 1. Interrelationships of the Balance Sheet and Accumulation Accounts
- 2. Sectorizing Public Entities (General Government versus Public Corporations)
- 3. Common Foreign Currency Balance Sheet Relationships in Partially Dollarized Emerging Market Economies
- 4. South Africa: Sectoral Net Financial Positions, by Currency
- 5. South Africa: Sectoral Net Financial Positions vis-à-vis Nonresidents, by Currency
- 6. South Africa: Other Depository Corporations’ Detailed Positions vis-à-vis Nonresidents, by Currency and Instrument
The following conventions are used in this publication:
- In tables, a blank cell indicates “not applicable,” ellipsis points (…) indicate “not available,” and 0 or 0.0 indicates “zero” or “negligible.” Minor discrepancies between sums of constituent figures and totals are due to rounding.
- An en dash (–) between years or months (for example, 2005–06 or January–June) indicates the years or months covered, including the beginning and ending years or months; a slash or virgule (/) between years or months (for example, 2005/06) indicates a fiscal or financial year, as does the abbreviation FY (for example, FY2006).
- “Billion” means a thousand million; “trillion” means a thousand billion.
- “Basis points” refer to hundredths of 1 percentage point (for example, 25 basis points are equivalent to ¼ of 1 percentage point).
As used in this publication, the term “country” does not in all cases refer to a territorial entity that is a state as understood by international law and practice. As used here, the term also covers some territorial entities that are not states but for which statistical data are maintained on a separate and independent basis.
This paper was prepared to enhance application of the balance sheet approach for surveillance by taking advantage of new datasets that provide detailed, frequent, and timely financial statistics. These data are produced by IMF member countries and submitted to the IMF’s Statistics Department regularly and can be mapped into the balance sheet approach framework for better and more timely tracking and analysis of vulnerabilities in sectors of a country’s economy.
The authors are indebted to many colleagues, as predecessors, collaborators, and reviewers, including Mark Allen, Juha Kahkonen, Tessa van der Willigen, Dominique Desruelle, Christoph Rosenberg, Brett House, and Johannes Wiegand in the Policy Development and Review Department; Rob Edwards, William Alexander, Edgar Ayales, Neil Patterson, Roberto Rosales, Robert Heath, Jaroslav Kucera, José Carlos Moreno, Simon Quinn, and Justin Matz in the Statistics Department; and Andreas Billmeier, Marcos Chamon, Mark De Broeck, Robert P. Flood, Dale Gray, Cheng Hoon Lim, Paolo Manasse, Paolo Mauro, and Mariana Torres. The authors also are very grateful to Nadejda Caprar for editorial assistance and to David Einhorn of the External Relations Department, who edited and coordinated production of the publication.
The opinions expressed in the paper are those of the authors and do not necessarily reflect the views of the IMF, its Executive Directors, or the authorities of the countries covered in the study.
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