Eurostat financial database
and what we can learn from it.
OECD - FS Working Party
2-4 November 2009
Eurostat / Ismael Ahamdanech Zarco
Financial Accounts in Eurostat
 Legal Framework
 Data collection
 Integrated annual accounts
 Some interesting figures
 Future developments
Legal Framework

ESA95


Transmission Programme
Both documents are binding for the Member States.
Moreover, other documents explain and give guidance
on compilation, such as the Manual on Sources and
Methods for the Compilation of ESA95 Financial
Accounts
Data collection


Compulsory data
Voluntary data
Integrated Annual Accounts
 To understand interrelations in an economy it is necessary
to analyze both real and financial aspects.
 For this reason, increasing attention is paid to integrated
national accounts.
 Eurostat publishes Annual accounts by institutional sector
where data above and below the line are presented together
in an integrated manner.
 Similar approach to the Eurostat/ECB joint project on
Euro area accounts (see presentation tomorrow)
 Related to flow of funds approach
ANNUAL ACCOUNTS BY INSTITUTIONAL SECTOR
2008
(million euros, current prices)
date of transmission of non financial account: 27/08/2009
Saving and capital transfers receivable
Capital transfers payable and changes in non-financial assets
Households
General
Financial
Non-financial
including
government corporations corporations
NPISH
(S.13)
(S.12)
(S.11)
(S.14+S.15)
Total
economy
(S.1)
Capital accounts
Rest of the Sum over
World
sectors
(S.2)
(S.1+S.2)
Sum over
sectors
(S.1+S.2)
Rest of the
world (S.2)
Total
economy
(S.1)
Non-financial
corporations
(S.11)
Financial
corporations
(S.12)
General
government
(S.13)
Households
including
NPISH
(S.14+S.15)
CHANGE IN NET WORTH DUE TO SAVING AND CAPITAL TRANSFERS ACCOUNT
B.8n / B.12
21663
-1801
2047
9397
31306
-10304
21002
Net saving / current external balance
21002
-10237
31239
5147
2003
3759
20330
-10304
31306
9397
2047
-1801
21663
Changes in net worth due to saving and
capital transfers
B.10.1
ACQUISITION OF NON-FINANCIAL ASSETS ACCOUNT
Changes in net worth due to saving and capital
transfers
B.10.1
15651
-1301
2087
-6277
10159
-10159
0
B.9
21002
Net lending (+) / net borrowing (-)
(Changes in ) Financial assets
Households
General
Financial
Non-financial
including
government corporations corporations
NPISH
(S.13)
(S.12)
(S.11)
(S.14+S.15)
Total
economy
(S.1)
(Changes in ) Liabilities and net financial assets
Financial accounts
Rest of the Sum over
World
sectors
(S.2)
(S.1+S.2)
Sum over
sectors
(S.1+S.2)
Rest of the
World (S.2)
Total
economy
(S.1)
Non-financial
corporations
(S.11)
Financial
corporations
(S.12)
General
government
(S.13)
Households
including
NPISH
(S.14+S.15)
5273
29862
-24589
-255535
5825
-83095
308216
0
-10159
10159
-6277
2087
-1301
15651
0
-2024
2024
1141
478
458
-54
-8135
8135
-7419
1609
-1760
15705
OPENING FINANCIAL BALANCE SHEET
BF.90
Net financial assets (+) / liabilities (-)
FINANCIAL TRANSACTIONS ACCOUNT
B.9
Net lending (+) / net borrowing (-) (from capital accounts)
B.9 - B.9F
Statistical discrepancy
B.9F
0
Net lending (+) / net borrowing (+) from financial accounts
OTHER CHANGES IN FINANCIAL ASSETS AND LIABILITIES ACCOUNT
B.10.2+B.10.3
Other changes in net worth
524
3446
-2922
43002
-15172
-7373
-23378
5814
25189
-19375
-219952
-7739
-92227
300543
CLOSING FINANCIAL BALANCE SHEET
BF.90
Net financial assets (+) / liabilities (-)
Some interesting figures (i)
Households’ Net Financial Assets (BF90) (2005 = 100). NC
140
120
100
80
60
40
20
0
BE
DK
DE
IE
GR
ES
2005
FR
HU
2006
NL
2007
AT
2008
PT
SK
FI
SE
NO
Some interesting figures (ii)
Households’ net Financial Transactions. Liabilities of F4 (loans).
(2005 = 100). NC
550
500
450
150
100
50
0
BE
DK
DE
IE
GR
ES
2005
FR
2006
HU
2007
NL
AT
2008
PT
SK
FI
SE
NO
Some interesting figures (iii)
Households’ Other Economic Flows in financial assets (2005 =
100). NC
For the sake of clarity, data for BE, DE, IE, GR, ES, FR, HU, NL, PT, SK, SE and NO have
been censured
Some interesting figures (iv)
General Governments’ Stocks of total Liabilities (2005 = 100). NC
180
160
140
120
100
80
60
40
20
0
BE
DK
DE
IE
GR
ES
2005
FR
HU
2006
NL
2007
AT
2008
PT
SK
FI
SE
NO
Some interesting figures (v)
Non Financial Corporations’ transactions in F7 Liabilities (EUR m).
NC
70000
60000
50000
20000
10000
0
-10000
-20000
BE
DK
DE
IE
GR
ES
2005
FR
2006
HU
NL
2007
AT
2008
PT
SK
FI
SE
NO
Some interesting figures (vi)
Financial Corporations’ Stocks of Liabilities in F5 (2005=100). CO
180
160
140
120
100
80
60
40
20
0
BE
DK
DE
GR
ES
FR
2005
HU
2006
NL
2007
AT
PT
2008
SK
FI
SE
NO
Some interesting figures (vii)
Financial Corporations’ transactions in Assets of F4 (2005 = 100).
CO
1400
1300
1200
1100
300
200
100
0
BE
DK
DE
GR ES
2005
FR
HU
2006
NL
2007
AT
PT
2008
SK
FI
SE
NO
Some interesting figures (viii)
Financial Corporations’ Other Economic Flows in assets (2005 =
100). CO
350
250
150
50
-50
BE
DK
DE
GR
ES
FR
HU
NL
AT
PT
-150
-250
-350
-450
2005
2006
For the sake of clarity, data for FR, HU, PT, SK, SE and NO have been censured
2007
2008
SK
FI
SE
NO
Future Developments
 Reliable and timely data for policymakers: lessons from
financial crisis
 New ESA is being drafted – proposal made in 2010; to
come into force in 2014
 New Transmission Program (to came into force in 2014)
is being discussed:
– Importance of split of OEF into Nominal Holdings Gains
and Losses and Other Changes in Volume
– Importance of counterpart data
 Integration of financial and non financial accounts
For more information:
=>http://epp.eurostat.ec.europa.eu/portal/page/portal/euros
tat/home (Eurostat Web Page)
=>http://epp.eurostat.ec.europa.eu/portal/page/portal/statist
ics/search_database (Eurostat DataBase)