REPORT 2013 | PRODUCTS AND SERVICES OF THE EUROPEAN CBSOs
APRIL 2013
ECCBSO
European Committee of Central Balance‐Sheet Data Offices 1
EUROPEAN COMMITTEE OF CENTRAL BALANCE‐SHEET DATA OFFICES
APRIL 2013
Banca d’Italia
Banca Naţională a României
Banka Slovenije
Banco de España
Banco de Portugal
Bank of England
Banque de France
Banque Nationale de Belgique
Central Bank of Ireland
Centraal Bureau voor de Statistiek - Netherlands
Cerved Group spa – Centrale dei Bilanci
Česká Národní banka
Danmarks Statistik
Danmarks NationalBank
Deutsche Bundesbank
European Central Bank
Národná banka Slovenska
Narodowy Bank Polski
Oesterreichischen Nationalbank
STATEC – Luxembourg
Statistiska centralbyråns - Sweden
Tilastokeskus - Statistikcentralen
Τράπεζα της Ελλάδος
2
EUROPEAN COMMITTEE OF CENTRAL BALANCE‐SHEET DATA OFFICES | report
INDEX
1 ECCBSO PRESENTATION
1.
2. QUESTIONNAIRE APPROACH
3 EUROPEAN CBSOs
3.
CBSO
3.1 CHARACTERIZATION OF CBSOs
3 2 CBSOs
3.2
CBSO DATABASES
3.3 CBSOs PRODUCTS AND SERVICES (P&S)
3 4 FUTURE CBSOs
3.4
CBSO PRODUCTS AND SERVICES (P&S)
3.5 SUMMARY
3
EUROPEAN COMMITTEE OF CENTRAL BALANCE‐SHEET DATA OFFICES | report
INDEX
1 ECCBSO PRESENTATION
1.
2. QUESTIONNAIRE APPROACH
3 EUROPEAN CBSOs
3.
CBSO
3.1 CHARACTERIZATION OF CBSOs
3 2 CBSOs
3.2
CBSO DATABASES
3.3 CBSOs PRODUCTS AND SERVICES (P&S)
3 4 FUTURE CBSOs
3.4
CBSO PRODUCTS AND SERVICES (P&S)
3.5 SUMMARY
4
ECCBSO
ECCBSO PRESENTATION
European Committee of Central Balance‐Sheet Data Offices
The European Committee of Central Balance‐Sheet Data Offices (ECCBSO) is an informal body whose members consist of experts either from the Central
Balance‐Sheet Data Offices belonging to or associated with the National Central Banks (NCB) of the European Community, or from National Statistical Institutes.
The main task of the ECCBSO is to improve the analysis of Non‐financial corporate enterprises data through the exchange of information and joint studies, on the
basis of the work carried out by the national central balance‐sheet data offices which collect, store and diffuse descriptive and accounting firm data, and starting
from these information, they develop economic and financial research.
The structure of the ECCBSO is the following:
ECCBSO
European Committee of Central Balance‐Sheet Data Offices
CHAIRMAINSHIP
BANCO DE ESPAÑA (from November 2010 until November 2013)
PERMANENT OBSERVERS
European Commission
MEMBERS
Banca d'Italia | Banco de Portugal | Banco de España | Bank of England | Bank of Greece | Banque de France | Banque Nationale de Belgique – Nationale Bank van België | Central Bank of Ireland | Cerved Group spa ‐
Centrale dei Bilanci | Czech National Bank | Danmarks NationalBank | Deutsche Bundesbank | European
Central Bank | National Bank of Poland | National Bank of Romania | National Bank of Slovakia | National
B k f Slovenia
Bank of
Sl
i | Oesterreichische
|O
i hi h Nationalbank
N i
lb k | STATEC –
| STATEC Luxembourg
L
b
| S i i Finland
| Statistics
Fi l d | Statistics
|S i i
Netherlands | Statistics Sweden | Statistics Denmark
OBSERVERS
IFRS Foundation
5
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
ECCBSO PRESENTATION
European Committee of Central Balance‐Sheet Data Offices
ECCBSO
E ropean Committee of Central Balance Sheet Data Offices
European Committee of Central Balance‐Sheet Data Offices
http://www.eccbso.org/ http://www bach banque france fr/?lang=en
http://www.bach.banque‐france.fr/?lang=en
The European Committee of Central Balance‐Sheet Data Offices (ECCBSO) is responsible for the development and management of a database named Bank for
Accounts of Companies Harmonized (BACH).
BACH
(harmonized annual accounts indicators; aggregated data)
twelve European countries
at least 10 financial years (from 2000 onwards)
67 major items for the balance sheet and the profit and loss account
32 economic and financial ratios
business sectors according to NACE rev. 2 divisions (2 digits)
four different size classes (defined according to the turnover)
four different size classes (defined according to the turnover)
(related metadata)
6
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
ECCBSO PRESENTATION
European Committee of Central Balance‐Sheet Data Offices
ECCBSO
http://www.eccbso.org/ E ropean Committee of Central Balance Sheet Data Offices
European Committee of Central Balance‐Sheet Data Offices
The European Committee of Central Balance‐Sheet Data Offices (ECCBSO) has created four working groups: namely RISK ASSESSMENT WORKING GROUP, BACH WORKING GROUP, III WORKING GROUP ON IFRS IMPACT AND CBSO DATABASES and STUDY GROUP. RISK ASSESSMENT WG
BACH WG
The Risk Assessment Working Group was set up in order to draw up the
so called White Paper on corporate analysis in Europe and to draft
reports on the analysis of stocks and flows conducted in the various
central balance‐sheet data offices. The group then expanded its project
and its members have been working in cooperation with the related
divisions of the European Central Bank, homogenizing the risk analysis.
The BACH Working Group is in charge of developing and improving the
European statistical database BACH (Bank for the Accounts of Companies
Harmonized). This database provides comparable sectoral statistics
from annual accounts of non‐financial incorporated companies of a
number of European countries.
III WG ON IFRS IMPACT AND CBSO DATABASES
STUDY GROUP
The III Working Group primarily focuses on the impact of the
International Financial Reporting Standards (IFRS), issued by the IASB,
on the accountancy of non financial corporations and their effects on
the European central balance sheet data offices´ databases and
questionnaires,, trying
q
y g to assess both p
potential opportunities
pp
and risks.
The Study Group focuses mainly on the analysis of equity capitalization
in an international setting. It has already produced four studies.
Currently, the group is doing research on trade credits.
7
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
ECCBSO PRESENTATION
European Committee of Central Balance‐Sheet Data Offices
ECCBSO
http://www.eccbso.org/ E ropean Committee of Central Balance Sheet Data Offices
European Committee of Central Balance‐Sheet Data Offices
Several publications have been prepared based on the work performed within the ECCBSO. BACH WG
RISK ASSESSMENT WG
Several economic studies have
been made based on BACH and
BACH database.
The research of the Working
Group on Risk Assessment is
dedicated to credit risk
modeling and measurement.
III WG ON IFRS IMPACT AND CBSO DATABASE
The Group has developed IFRS‐
compliant standard formats
(using the IFRS Taxonomy) and
created European Consolidated
Accounts databases (ERICA 1
and 2).
STUDY GROUP
The latest research paper was
published in January 2013 and
deals with companies reaction
to the financial crisis in main
financial key ratios.
8
REPORT 2013 | Products and Services of the European CBSOs
April 2013
EUROPEAN COMMITTEE OF CENTRAL BALANCE‐SHEET DATA OFFICES | report
INDEX
1 ECCBSO PRESENTATION
1.
2. QUESTIONNAIRE APPROACH
3 EUROPEAN CBSOs
3.
CBSO
3.1 CHARACTERIZATION OF CBSOs
3 2 CBSOs
3.2
CBSO DATABASES
3.3 CBSOs PRODUCTS AND SERVICES (P&S)
3 4 FUTURE CBSOs
3.4
CBSO PRODUCTS AND SERVICES (P&S)
3.5 SUMMARY
9
ECCBSO
QUESTIONNAIRE APPROACH
European Committee of Central Balance‐Sheet Data Offices
The strength of the Committee lies in the different goals and work methods employed in each national central balance sheet data office: although all them have
in common the use of accounting data for different purposes, the goals achieved by each institution, and the products and services offered by them, are quite
diverse. This allows the different working groups of the ECCBSO to cover a vast scope of matters. Although the website of the Committee diffuses widely the
works done by the ECCBSO´s working groups, it seems convenient to include also some explanatory remarks about the tasks developed by each member.
This Report aims to take stock of the products and services currently developed, and/ or under development in the different Central Balance
Balance‐Sheet
Sheet Data Offices
members of it. To that aim, it was developed in 2012 a questionnaire to acknowledge the different work done across Europe. The questionnaire comprises five
parts: General Information, Raw data, Products and Services (P&S), Future P&S and Summary Table. The currently 2013 version is meant to be an updated
version of that Report.
QUESTIONNAIRE STRUCTURE
PART I
GENERAL NFORMATION
Global characterization of each CBSO
PART II
RAW DATA
Characteristics of CBSO data sources
PART III
P&S
Main features of each product and service currently provided by every CBSO
p
yp
y
y
PART IV FUTURE P&S
PART V
SUMMARY TABLE
General characteristics of new CBSO data sources and CBSO products and services A summary of the answers
y
10
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
QUESTIONNAIRE APPROACH
European Committee of Central Balance‐Sheet Data Offices
The questionnaire was sent in January 2013 to the 2012 respondents (plus Finland): 17 entities, on total. As in 2012, the large majority of the ECCBSO members
is covered by the 2013 release of the Report (77%). Individual answers are provided in the Annex (Excel file).
Austria
UK
Sweden
Belgium
Czech Rep.
Spain
p
D
Denmark (NCB)
k (NCB)
Slovenia
Finland
ECCBSO
Slovakia
France
European Committee of Central Balance‐Sheet Data Offices
Germany
Romania
Greece
Portugal
Poland
Covered by this Report
Not covered by this Report
Ireland*
Netherlands
Luxembourg
Italy
(2 entities: NCB and CERVED)
*Bank of Ireland has answered to this Questionnaire in 2012. However, it was not considered in both releases of the Report (2012 and 2013), because it does not run a genuine Central Balance‐
Sheet database.
REPORT 2013 | Products and Services of the European CBSOs
11
April 2013
EUROPEAN COMMITTEE OF CENTRAL BALANCE‐SHEET DATA OFFICES | report
INDEX
1 ECCBSO PRESENTATION
1.
2. QUESTIONNAIRE APPROACH
3 EUROPEAN CBSOs
3.
CBSO
3.1 CHARACTERIZATION OF CBSOs
3 2 CBSOs
3.2
CBSO DATABASES
3.3 CBSOs PRODUCTS AND SERVICES (P&S)
3 4 FUTURE CBSOs
3.4
CBSO PRODUCTS AND SERVICES (P&S)
3.5 SUMMARY
12
ECCBSO
CHARACTERIZATION OF CBSOs
European Committee of Central Balance‐Sheet Data Offices
The major part of the European Central Balance‐Sheet Data Offices (CBSO) are installed in National Central Banks (G1). From our sample, a significant part of the
CBSOs that belong to National Central Banks (NCBs) are directly associated with the statistical function (G2). CBSOs belonging to other type of institutions have the
following main tasks: analysis/ research (ECCBSO), statistics (National Statistical Institutes) and risk assessment/ rating (private company).
It is somewhat important to bear in mind that the questionnaire was delivered to ECCBSO members, which are mainly constituted by National Central Banks.
However, according to the results of this questionnaire:
‐ National Statistical Institutes play an important role in: Czech Republic and Poland; and,
‐ Private companies are important in Denmark and Italy.
G2 | MAIN OBJECTIVE OF THE CBSOs IN NCBs
G1 | TYPE OF INSTITUTION
13
2
Supervision
1
Publication of micro‐data
1
Fin. Stability
1
1
2
Risk Assessment/Rating
National Central Bank
National Statistical Institute
Private Company
3
ECCBSO
Statistics
NB: two different entities were considered for Italy (NCB and private company).
7
NB: In Germany CBSO database is managed by two different Departments with two different objectives. For that reason, for this country it was considered two main objectives.
13
REPORT 2013 | Products and Services of the European CBSOs
April 2013
EUROPEAN COMMITTEE OF CENTRAL BALANCE‐SHEET DATA OFFICES | report
INDEX
1 ECCBSO PRESENTATION
1.
2. QUESTIONNAIRE APPROACH
3 EUROPEAN CBSOs
3.
CBSO
3.1 CHARACTERIZATION OF CBSOs
3 2 CBSOs
3.2
CBSO DATABASES
3.3 CBSOs PRODUCTS AND SERVICES (P&S)
3 4 FUTURE CBSOs
3.4
CBSO PRODUCTS AND SERVICES (P&S)
3.5 SUMMARY
14
ECCBSO
CBSOs DATABASES
European Committee of Central Balance‐Sheet Data Offices
Knowledge of the data sources is the basis of any analysis or statistics. Not only the type that each one of the databases has, but also the interest and usability
(measured, for instance, in terms of the representativeness of the data).
Among the fifteen countries that have answered to this questionnaire, it was encountered 50 databases directly linked to the CBSOs, which in average represents
3 databases per country. In general, the major part of the databases under the supervision of CBSOs are possible to be agglomerated by periodicity/ accounting
consolidation: Annual accounts (individual/ consolidated accounts), Quarterly accounts (individual/ consolidated accounts), Semi‐annual accounts (individual/
consolidated
lid t d accounts)
t ) and
d Other
Oth (Descriptive
(D
i ti databases,
d t b
B i
Business
R i t and
Register
d Central
C t l Credit
C dit Register).
R it )
G3| NUMBER OF DATABASES BY PERIODICITY AND ACCOUNTS CONSOLIDATION
In terms of periodicity of raw data, a significant part concern annual data
(G3); 31 out of 50 data sources. It seems that all countries have at least
Individual
Semi‐annual 1 2
Quarterly
Consolidated
5
Individual & Consolidated
1 2
annual data, although in Romania this data is based on semi‐annual data
accounts.
In terms of whether the sources incorporate individual accounts or/and
consolidated accounts, it seems clear from the graph that individual
accounts are most common in European CBSO databases; 25 out of 50
Annual
Other
19
8
4
8
data sources.
The major part of quarterly data concerns individual data; 5 out of 8 data
sources.
Note: ‘Other’ refers to Descriptive databases, Business Register and Central Credit Register For more information, see BOX 1.
15
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
CBSOs DATABASES
European Committee of Central Balance‐Sheet Data Offices
Regarding the ‘Other’ databases – Descriptive databases, Business Register and Central Credit Register – only 4 National CBSO (Finland, France, Italy and
Portugal) have some under its own responsibility (G4). In this field, there is a particular interest on Business Registers.
G4| DESCRIPTIVE DATABASES, BUSINESS REGISTER AND CENTRAL CREDIT REGISTER
1
1
2
1
1
1
1
Business Register
Central Credit Register
Descriptive database
Finland
France
Italy
Portugal
Central Credit Register: database that records information related to loans granted by credit institutions to companies; Descriptive database: database with complementary information about companies; for example, extraordinary events like M&A, group structures;
Business Register: database concerning the Non Financial Corporations’ population; it includes general characteristics of each corporation, like the sector of activity, date of birth, size class. 16
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
CBSOs DATABASES
European Committee of Central Balance‐Sheet Data Offices
BOX 1| DATABASES BY PERIODICITY AND ACCOUNTS CONSOLIDATION
Annual Indiv
Annual Cons
Annual Indiv & Cons
Annual Indiv & Cons
2
Quarterly Indiv
Quarterly Cons
2
1
1
1
Quarterly Indiv & Cons
l di &
2
1
1
1
1
Semi‐annual Indiv
1
Semi‐annual Cons
2
1
1
1
1
3
Other
2
3
1
2
1
2
1
1
1
1
1
1
1
1
2
1
1
1
1
1
1
17
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
CBSOs DATABASES
European Committee of Central Balance‐Sheet Data Offices
G5| NUMBER OF DATABASES BY SOURCE
Data are mainly obtained directly by CBSOs from both Administrative data
ANNUAL DATA
and Statistical surveys; 30 out of 42 databases. It is important to notice that
10 of this 15 Administrative data are related to sources with annual data
( d d l accounts).
(individual
) Statisticall surveys are used
d likewise
lk
f annuall and
for
d
quarterly data (individual accounts).
Administrative data, Statistical surveys and Official financial reporting explain
Multiple sources
2
Tax returns
1 1
Official financial accounts
1 1
Statistical survey
2
6
2
1
88% of the sources of the CBSOs databases.
Administrative data
Tax returns; 5%
Official financial accounts; 17%
Multiple sources; 5%
Search; 2%
Individual
9
Consolidated
4
1
Individual & Consolidated
Administrative data; 36%
QUARTERLY DATA
INDIVIDUAL: 5 Statistical survey; CONSOLIDATED: 1
Official
financial
accounts;
INDIVIDUAL
&
CONSOLIDATED: 1 Statistical survey and 1 Official
financial accounts
SEMI‐ANNUAL DATA
INDIVIDUAL: 1 Administrative data; CONSOLIDATED: 1
Official financial accounts and 1 obtained by searching
on the internet
Statistical survey; 36%
Note: Descriptive databases, Business Register and Central Credit Register are not considered in this analysis.
considered in this analysis.
18
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
CBSOs DATABASES
European Committee of Central Balance‐Sheet Data Offices
G6| NUMBER OF RAW DATA BY LEGAL BASIS
69% of the raw data are mandatory;
Voluntary; 31%
31% are obtained on a voluntary basis.
Mandatory; 69%
INDIVIDUAL
ANNUAL ACCOUNTS
CONSOLIDATED
IND & CONS
6
4
4
2
2
13
Mandatory
Voluntary
1
QUARTERLY ACCOUNTS
4
1
2
Note: All 3 Semi‐annual
Note: All 3 Semi
annual databases are mandatory.
databases are mandatory.
19
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
CBSOs DATABASES
European Committee of Central Balance‐Sheet Data Offices
FAST FACTS ABOUT EUROPEAN CBSOs (I)
T2| RESPONSABILITY FOR COLLECTING RAW DATA
Info| AVAILABILITY OF RAW DATA
48% of the raw data is collected directly by the CBSOs (40%) or by other
68%
NCB internal
NCBs
i t
l Departments
D
t
t (Statistics)
(St ti ti ) (8%).
(8%) External
E t
l conduction
d ti
off data
d t
d b
i is
i important
i
i the
h case off Luxembourg
L
b
h has
h started
d
databases
it
to mention
that
collection (40%) refers to, among others, private companies, Ministry of
in 2011.
of databases have started before 2005. Among the remaining
Finance and National Statistical Offices.
DATA SOURCE RESPONSIBLE
DATA SOURCE RESPONSIBLE
%
CBSO
40
EXTERNAL
40
SHARED INTERNAL ‐ EXTERNAL
8
INTERNAL ‐ STATISTICS
8
CBSO & EXTERNAL
4
Info| RAW DATA BY MAIN CONTENTS
95% of databases have at least information about Balance sheet (BS) and
Income Statement (IS). The remaining 5% have at least BS.
It is important to notice that databases have a huge variety of additional
In this sense, 26 of the raw data has some external component (shared or not
information like cash flow statements, accounting details, notes, default data
shared); 77% of the external entities involved are Public. For more detail see
and others.
BOX 2.
20
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
CBSOs DATABASES
European Committee of Central Balance‐Sheet Data Offices
BOX 2| RESPONSABILITY FOR DATA COLLECTION PER PERIODICITY AND ACCOUNTS CONSOLIDATION CBSO & External
2
Internal ‐ Statistics
1
1
Shared Internal‐External
External
CBSO
10
1
2
5
5
1
1
2
Indiv
Cons
Annual
Indiv & Cons
2
1
1
2
1
1
1
1
Indiv
Cons
Indiv & Cons
Quarterly
1
1
1
Indiv
Cons
Semi‐annual
2
Business Register
3
1
Central Credit Register
Descriptive Database
Others
21
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
CBSOs DATABASES
European Committee of Central Balance‐Sheet Data Offices
FAST FACTS ABOUT EUROPEAN CBSOs (II)
Info| DATABASES BY ACCOUNTING BASIS
Info| DATABASES BY COVERAGE
57% of the raw data is of National GAAP nature. The other half is divided in
54% of databases correspond to a subset of corporations. While 42%
raw data
d t based
b d on either
ith National
N ti
l GAAP and
d IFRS (17%),
(17%) solely
l l IFRS (21%) and
d
concern full
f ll coverage off the
h NFC (Non‐Financial
(
l Corporations)) population
l
and
d
a combination between IFRS and ESA standards (5%). National GAAP is the
4% to a statistical sample. It is important to see that more than half of the
accounting basis for the majority of individual data while consolidated accounts
databases related to NFC population corresponds to databases of Annual
are mostly denominated in IFRS.
accounts.
12%
27%
18%
17%
33%
80%
55%
IFRS
IFRS + ESA
IFRS + ESA
56% of the CBSO samples have a bias. The foundation is mainly explained by
biasness towards larger size classes (96%). Such biases are mainly present in
the databases with individual accounts. See BOX 3 for more.
Not biased; 44%
17%
8%
Individual
33%
G7| DATABASES BY SAMPLE BIAS
Consolidated
National GAAP
National GAAP
Individual & Consolidated
National GAAP & IFRS
National GAAP & IFRS
Biased; 56%
22
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
CBSOs DATABASES
European Committee of Central Balance‐Sheet Data Offices
FAST FACTS ABOUT EUROPEAN CBSOs (II)
BOX 3| SAMPLE BIAS BY ACCOUNTS CONSOLIDATION
G8| DATABASES BY BREAK IN TIME SERIES
52% of databases does not have any break in time series. Of databases that
have started before 2005, 53% have break in time series.
27%
YES; 48%
68%
83%
NO; 52%
73%
32%
Individual
Consolidated
NO
YES
17%
Individual & Consolidated
Individual & Consolidated
Consolidated
45%
55%
Individual
48%
52%
67%
NO
33%
YES
23
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
CBSOs DATABASES
European Committee of Central Balance‐Sheet Data Offices
G9 | AVAILABILITY OF RAW DATA IN EUROPEAN CBSOs
INDIVIDUAL ACCOUTNS
CONSOLIDATED ACCOUNTS
INDIVIDUAL & CONSOLIDATED ACCOUNTS
DESCRIPTIVE DATABASES, BUSINESS REGISTER, CENTRAL CREDIT REGISTER
DE
IT
IT
BE
BE
ES
AT
DE
FR
FR
FR
ES
PT
PT
IT
FI
ES
FI
IT
SI
PL
PL
DK
DE
FR
PT
FI
PT
SI
IT
IT
RO
CZ
DE
DE
SK AT
SI
CZ
PT
PT
FI
IT
AT
ES
FR
ES
SI
LU
AT
24
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
CBSOs DATABASES
European Committee of Central Balance‐Sheet Data Offices
BOX 4 | AVAILABILITY OF RAW DATA IN EUROPEAN CBSOs
INDIVIDUAL ACCOUNTS
SI
LU
AT
PT
FI
SK
CZ
CZ
RO
PT
FI
SI
ES
FI
IT
DE
PL
PL
PT
ES
FR
AT
IT
ES
BE
1983 1984 1985 1986 1987 1988 1989 1990 1991IT1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
DE
IT
Annual accounts
Quarterly accounts
Semi‐annual accounts
25
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
CBSOs DATABASES
European Committee of Central Balance‐Sheet Data Offices
BOX 5 | AVAILABILITY OF RAW DATA IN EUROPEAN CBSOs
AT
CONSOLIDATED ACCOUNTS
ES
ES
FR
PT
DE
DE
AT
FR
BE
IT
1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
IT
INDIVIDUAL & CONSOLIDATED ACCOUNTS
SI
SI
DK
DE
DE
Annual accounts
Quarterly accounts
Semi‐annual accounts
26
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
CBSOs DATABASES
European Committee of Central Balance‐Sheet Data Offices
G10 | ANNUAL DATABASES
Total Nr=31
Individual & Consolidated
Consolidated
Individual
4
1
2
3
1
TIMELINESSS*
6
3
1
1
N + 4 months
N + 6 months
N + 7 months
4
3
N + 9 months
N + 10 months
N + 11 months
G11 | QUARTERLY DATABASES
N + 4 months; 13%
(1 individual and 1 consolidated)
1
N + 12 months
N + 14 months
G12 | SEMI‐ANNUAL DATABASES
Total Nr=8
(1 individual & (1
i di id l &
consolidated)
N + 3 months; 25%
1
Total Nr=3
N + 8 months; 33%
(1 i di id l)
(1 individual)
N + 3 months; 33%
N + 2 months; 63%
((4 individual and 1 individual & consolidated)
(1 consolidated)
N + 6 months; ;
33%
(1 consolidated)
27
* In some cases, Timeliness figures for provisional statistics raw data. The database itself might not be complete at the given date
REPORT 2013 | Products and Services of the European CBSOs
April 2013
EUROPEAN COMMITTEE OF CENTRAL BALANCE‐SHEET DATA OFFICES | report
INDEX
1 ECCBSO PRESENTATION
1.
2. QUESTIONNAIRE APPROACH
3 EUROPEAN CBSOs
3.
CBSO
3.1 CHARACTERIZATION OF CBSOs
3 2 CBSOs
3.2
CBSO DATABASES
3.3 CBSOs PRODUCTS AND SERVICES (P&S)
3 4 FUTURE CBSOs
3.4
CBSO PRODUCTS AND SERVICES (P&S)
3.5 SUMMARY
28
ECCBSO
CBSOs PRODUCTS AND SERVICES (P&S)
European Committee of Central Balance‐Sheet Data Offices
This section of the Report presents the Products & Services (P&S) carried out by the CBSOs enquired. Of the seventeen European countries/entities* that are
considered in the present analysis it was found a total of 130 P&S. It is important to notice that Luxembourg has no P&S in the moment because its activity as a
CBSO is starting.
starting For this reason,
reason Luxembourg will only be considered in the section of Future P&S.
P&S
According to the answers of the questionnaire, each country/ entity has in average 8 P&S. By P&S categories, the great majority would respect to ‘aggregated
data’ (38%). The rest of the P&S have the following division: Studies/ Reports/ Analysis (26%), Microdata – individual data (20%), Risk Assessment (8%) and
Mi d t and
Microdata
d aggregated
t d data
d t (7%).
(7%) Please
Pl
see Figure
Fi
1 and
d Graph
G h 13 to
t have
h
more detail
d t il on each
h P&S.
P&S
F1| TYPES OF PRODUCTS & SERVICES
38%
AGGREGATED DATA
It respects to P&S that diffuse mere aggregated data, without analytical texts, on economic/
financial indicators. For example, by sector of activity, size of companies.
26%
STUDIES/ REPORTS/ ANALYSIS
Whenever the P&S is focused on presenting some deepness to some subject of interest.
interest
For instance, the financial performance of SMEs.
20%
MICRODATA: INDIVIDUAL
DATA
P&S that delivers data on an individual basis, company by company. For instance, the
delivery of the accounts of one company for matters of Bank Supervision.
8%
RISK ASSESSMENT
7%
MICRODATA AND
AGGREGATED DATA
P&S related to rating and/ or scoring. The Financial Stability Report was also included here.
Meant for P&S that put together ‘microdata: individual data’ and ‘aggregated data’. For
example, a P&S that compares a single company to its sector/ company size.
*For Italy two entities were considered: National Central Bank and private company
29
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
CBSOs PRODUCTS AND SERVICES (P&S)
European Committee of Central Balance‐Sheet Data Offices
G13| NUMBER AND TYPE OF PRODUCTS & SERVICES BY CBSO
4
1
1
3
5
3
1
11
2
1
2
1
10
5
10
1
1
1
1
Portugal
Spain
4
2
3
1
1
2
1
2
5
2
4
5
2
1
Microdata and aggregated data
2
1
France Belgium Germany Italy_BdI Poland
Aggregated data
2
2
3
3
1
1
1
1
1
Austria Italy_CG Romania ECCBSO
Microdata: individual data
3
Czech Rep.
Risk Assessment
1
1
2
2
1
1
2
Finland Denmark Slovakia Slovenia
Studies / Reports / Analysis
30
REPORT 2013 | Products and Services of the European CBSOs
April 2013
CBSOs PRODUCTS AND SERVICES (P&S)
ECCBSO
European Committee of Central Balance‐Sheet Data Offices
EXAMPLES OF P&S MICRODATA:
INDIVIDUAL DATA
AGGREGATED DATA
‐Individual data for the following purposes: ERICA databases, statistics, research, sample design input;
‐ Online consultation of individual accounts;
‐ Data Warehouse (available for the entire institution).
‐ Contribution for statistics: Non Financial Corporations, BACH, aggregated data for other divisions, Financial accounts, Financial Soundness Indicators);
‐ Summary Table to the Board of Directors;
‐ Sectoral Aggregates.
MICRODATA AND
AGGREGATED DATA
‐ Enterprise and Sector Table delivered to individual enterprises;
STUDIES/ REPORTS/
ANALYSIS
‐ Statistical Bulletin;
‐ Studies on Non Financial Corporations (example, SME delay on payments);
‐ Research papers.
RISK ASSESSMENT
‐ Studies for individual enterprises.
‐ Rating;
Scoring
‐ Scoring.
31
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ANALYSIS BY TYPE OF P&S
AGGREGATED DATA
STUDIES/ REPORTS/ ANALYSIS
MICRODATA: INDIVIDUAL DATA
RISK ASSESSMENT
RISK ASSESSMENT
MICRODATA AND AGGREGATED DATA
32
ECCBSO
CBSOs PRODUCTS AND SERVICES (P&S)
European Committee of Central Balance‐Sheet Data Offices
G15| INTERNAL/ EXTERNAL P&S BY TYPE
Ж
P&S related to Microdata
have lower percentage of
deliverability
audiences.
to
6%
8%
18%
external
33%
40%
34%
24%
50%
44%
40%
60%
59%
42%
22%
Aggregated data
Aggregated data
Microdata and
Microdata and aggregated data
External
20%
Microdata: individual Microdata:
individual
data
Internal
Risk Assessment
Risk Assessment
Studies / Reports / Studies
/ Reports /
Analysis
Internal & External
33
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
CBSOs PRODUCTS AND SERVICES (P&S)
G16 | EXTERNAL P&S BY TYPE AND USER
Ж
50%
off
European Committee of Central Balance‐Sheet Data Offices
the
h
P&S
are
deliverables for external use
5%
7%
only.
36%
The General public is the most
50%
important external user of
both
‘Studies/
Analysis’
and
Reports/
63%
‘Aggregated
100%
data’.
Companies
are
the
90%
only
64%
recipients of P&S concerning
‘Microdata and aggregated
data’. The ECCBSO receives
most
of
i di id l
individual
the
50%
30%
‘Microdata:
d ’
data’
as
a
5%
Aggregated data
Microdata and aggregated data
Companies
Companies & Banks
consequence of ERICA 1 and
Microdata: individual data
Risk Assessment
Studies / Reports / Analysis
ERICA 2 databases.
ECCBSO
General Public
Government
Specific entities
34
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
CBSOs PRODUCTS AND SERVICES (P&S)
European Committee of Central Balance‐Sheet Data Offices
G17| INTERNAL P&S BY TYPE AND USER
Ж
35%
of
the
P&S
are
deliverables for internal use
15%
24%
only.
15%
Statistics Departments in the
NCBs are the main users of
both
‘Microdata
50%
50%
75%
and
aggregated data’. Research &
53%
38%
13%
Economic Departments are
also very interested in this
type
of
CBSOs
P&S.
Supervision Departments are
6%
6%
basically
12%
focused
on
P&S
15%
25%
50%
38%
8%
8%
related to ‘Risk Assessment’.
Finally, it seems there is a
significant
CBSOs
production
‘Studies/
Microdata and aggregated data
Microdata: individual data
Risk Assessment
Studies / Reports / Analysis
of
Reports/
Analysis for the Board of
Directors of the NCBs.
Aggregated data
Board of Directors
ECCBSO
Financial Stability Dept
Research & Economic Dept
Statistics Dept
Supervision Dept
Various Dept
35
REPORT 2013 | Products and Services of the European CBSOs
April 2013
GENERAL ANALYSIS OF P&S
36
ECCBSO
CBSOs PRODUCTS AND SERVICES (P&S)
European Committee of Central Balance‐Sheet Data Offices
G18 | PURPOSE OF P&S
2%
71%
7%
21%
26%
29%
15%
23%
10%
Legal Obligation
Statistics
73%
7%
Risk Assessment
2%
67%
59%
Research/ Analysis
43%
25%
Aggregated data
20%
Microdata and aggregated data
Microdata: individual Risk Assessment
data
G19 | CBSO P&S RELATED TO STATISTICS
Studies / Reports / Analysis
National Accounts; 22%
Various; 13%
Note: A P&S can have more than one purpose
BoP; 6%
Central Balance‐Sheet Databases (CBSD)
CBSD; 59%
CBSD; 59%
37
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
CBSOs PRODUCTS AND SERVICES (P&S)
European Committee of Central Balance‐Sheet Data Offices
F2| CBSO CONTENTS INCLUDED IN THE P&S
24% of the CBSO P&S include accounting data, derived indicators and text simultaneously.
It was not find any P&S that has only text. 34% of P&S have both
accounting data and derived indicators.
ACCOUNTING DATA
18%
34%
2%
24%
DERIVED
DERIVED INDICATORS
20%
3%
TEXT
0%
38
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
CBSOs PRODUCTS AND SERVICES (P&S)
European Committee of Central Balance‐Sheet Data Offices
FAST FACTS ABOUT EUROPEAN CBSOs P&S (I)
G20| NON‐CBSO CONTENTS INCLUDED IN THE P&S
G21| FORMAT OF P&S DELIVERY
71% of the P&S does not have any other contents than the ones available in
ONLINE
HARD COPY
each
h CBSO.
CBSO More
M
th half
than
h lf off the
th remaining
i i 29% that
th t uses other
th contents
t t than
th
the ones available in CBSO uses, at least, either the information of the
Securities Database or the Central Credit Register.
YES; 11%
YES, 38%
NO
NO, 62%
Half (50%) of the P&S that use non‐CBSO contents are explained by ‘Studies/
NO; 89%
Reports/ Analysis’. The rest of the distribution is as follows: ‘Risk Assessment’
(25%), ‘Aggregated Data’ (13%), ‘Microdata and Aggregated data’ (8%) and
‘Microdata: individual data’ (4%).
READ‐ONLY
FLEXIBLE
YES; 29%
YES, 46%
NO; 27%
NO, 54%
NO; 71%
YES; 73%
39
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
CBSOs PRODUCTS AND SERVICES (P&S)
European Committee of Central Balance‐Sheet Data Offices
FAST FACTS ABOUT EUROPEAN CBSOs P&S (II)
G22| CONFIDENTIALITY OF P&S
G23| TIMING OF P&S
47% of P&S are restricted, 42% are made public and the remaining 12% are
82% of P&S are made available on a regular basis; for 71% of
b h public
both
bli and
d restricted
i d (e.g.,
(
the
h BACH database).
d b )
year after
f the
h reference
f
period.
i d
them until 1
82% of P&S related to ‘Risk Assessment’ are restricted. That percentage of
restricted P&S decreases in the other types: 78% in ‘Microdata and aggregated
data’, 73% in ‘Microdata: individual data’, 32% in ‘Studies/ Analysis/ Reports
‘and 30% in ‘Aggregated Data’.
N+1Q to N+4Q, 72%
Real time; 1%
Restricted; 47%
Public; 42%
Irregular; 17%
Regular, 82%
+5Q to N+9Q, 10%
Public & Restricted; 12%
40
REPORT 2013 | Products and Services of the European CBSOs
April 2013
EUROPEAN COMMITTEE OF CENTRAL BALANCE‐SHEET DATA OFFICES | report
INDEX
1 ECCBSO PRESENTATION
1.
2. QUESTIONNAIRE APPROACH
3 EUROPEAN CBSOs
3.
CBSO
3.1 CHARACTERIZATION OF CBSOs
3 2 CBSOs
3.2
CBSO DATABASES
3.3 CBSOs PRODUCTS AND SERVICES (P&S)
3 4 FUTURE CBSOs
3.4
CBSO PRODUCTS AND SERVICES (P&S)
3.5 SUMMARY
41
ECCBSO
CBSOs PRODUCTS AND SERVICES (P&S)
European Committee of Central Balance‐Sheet Data Offices
FAST FACTS ABOUT FUTURE EUROPEAN CBSO P&S
G24| TOTAL NUMBER OF FUTURE NEW P&S BY TYPE
29 new P&S are already in CBSO plans for the near future. New P&S will be mostly associated with Studies/ Reports/ Analysis and Microdata: individual data. This
29 new P&S will
ill be
b either
i h for
f internal
i
l use (41%),
(41%) externall use (41%) and
d both
b h internal
i
l and
d externall use (17%).
(17%) One
O fourth
f
h (24%) off the
h future
f
P&S are associated
i d to
the ECCBSO.
29
2
5
5
6
11
Total
Microdata and aggregated data
Microdata: individual data
Risk assessment
Aggregated data
Studies/ Reports/ Analysis
42
REPORT 2013 | Products and Services of the European CBSOs
April 2013
EUROPEAN COMMITTEE OF CENTRAL BALANCE‐SHEET DATA OFFICES | report
INDEX
1 ECCBSO PRESENTATION
1.
2. QUESTIONNAIRE APPROACH
3 EUROPEAN CBSOs
3.
CBSO
3.1 CHARACTERIZATION OF CBSOs
3 2 CBSOs
3.2
CBSO DATABASES
3.3 CBSOs PRODUCTS AND SERVICES (P&S)
3 4 FUTURE CBSOs
3.4
CBSO PRODUCTS AND SERVICES (P&S)
3.5 SUMMARY
43
ECCBSO
SUMMARY
European Committee of Central Balance‐Sheet Data Offices
G25 | SUMMARY OF EUROPEAN CBSOs P&S – PRESENT AND FUTURE
Aggregated data
60
50
40
30
Studies / Reports / Analysis
Microdata and aggregated data
20
10
0
Microdata: Microdata:
individual data
Risk Assessment
Present & Future
Present
*The scale corresponds to the number of P&S types available
REPORT 2013 | Products and Services of the European CBSOs
44
April 2013
ANALYSIS BY COUNTRY/ INSTITUTION
45
ECCBSO
SUMMARY
G26 | AUSTRIA
G27 | BELGIUM
Aggregated data
4
Aggregated data
5
4
3
3
2
Studies / Reports / Analysis
Microdata and aggregated data
1
Studies / Reports / Analysis
1
0
0
Microdata: individual data
Risk Assessment
P
Present & Future
t&F t
Microdata and aggregated data
2
Microdata: individual data
Risk Assessment
P
Present
t
P
Present & Future
t&F t
G28 | CZECH REPUBLIC
P
Present
t
*The scale corresponds to th
he number of P&S types available
European Committee of Central Balance‐Sheet Data Offices
G29 | DENMARK
Aggregated data
Aggregated
data
2
Aggregated data
3
1,5
2
Studies / Reports / Analysis
Microdata and aggregated data
1
3 ‘Aggregated
3 Aggregated 0data’
Risk Assessment
Present & Future
1
Studies / Reports / Analysis
Microdata and aggregated data
0,5
0
Microdata: individual data
Present
Risk Assessment
Risk Assessment
Present & Future
Microdata: individual data
Present
46
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
SUMMARY
G30 | FINLAND
G31 | FRANCE
Aggregated data
12
10
8
6
4
2
0
Aggregated data
2
1,5
1
Studies / Reports / Analysis
Microdata and aggregated data
0,5
Studies / Reports / Analysis
0
Microdata: individual data
Risk Assessment
P
Present & Future
&F
Microdata: individual data
Risk Assessment
P
Present
P
Present & Future
&F
G32 | GERMANY
Aggregated data
Aggregated
data
4
4
3
3
Microdata and aggregated data
2
1
2
Studies / Reports / Analysis
Present & Future
Microdata and aggregated data
1
0
Risk Assessment
P
Present
G33 | ITALY – BANK OF ITALY
Aggregated data
Aggregated
data
5
Studies / Reports / Analysis
Microdata and aggregated data
*The scale corresponds to th
he number of P&S types available
European Committee of Central Balance‐Sheet Data Offices
0
Microdata: individual data
Present
Microdata: individual data
individual
data
Risk Assessment
Present & Future
Present
47
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
SUMMARY
G34 | ITALY – CERVED GROUP
G35 | LUXEMBOURG
Aggregated data
2
Aggregated data
2
1,5
15
1,5
1
Studies / Reports / Analysis
Microdata and aggregated data
0,5
1
Studies / Reports / Analysis
0
0
Microdata: individual data
Risk Assessment
P
Present & Future
&F
P
Present & Future
t&F t
P
Present
4
3
2
Microdata and aggregated data
1
Studies / Reports / Analysis
0
Present & Future
P
Present
t
1 ‘Microdata: iindividual data’
di id l d ’
G37 | PORTUGAL
Aggregated data
Aggregated
data
5
Risk Assessment
Risk Assessment
Microdata: individual data
Risk Assessment
G36 | POLAND
Studies / Reports / Analysis
Microdata and aggregated data
0,5
*The scale corresponds to th
he number of P&S types available
European Committee of Central Balance‐Sheet Data Offices
Microdata: individual d
data
Present
Aggregated data
Aggregated
data
12
10
8
6
4
2
0
Microdata and aggregated data
Microdata: individual data
individual
data
Risk Assessment
Present & Future
Present
48
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
SUMMARY
G38 | ROMANIA
G39 | SLOVAKIA
Aggregated data
2
Aggregated data
4
15
1,5
3
2
Studies / Reports / Analysis
Microdata and aggregated data
1
1
Studies / Reports / Analysis
0
0
Microdata: individual data
Risk Assessment
Present & Future
Microdata: 1 ‘Aggregated individual data
Risk Assessment
P
Present & Future
t&F t
Present
G40| SLOVENIA
8
6
1
Microdata and aggregated data
0,5
2 ‘Aggregated
2 Aggregated 0data’
Present & Future
data’ and 1 ‘Risk
Risk Assessment’
Aggregated data
10
1,5
Risk Assessment
P
Present
t
G41 | SPAIN
Aggregated data
2
Studies / Reports / Analysis
Microdata and aggregated data
0,5
*The scale corresponds to th
he number of P&S types available
European Committee of Central Balance‐Sheet Data Offices
Studies / Reports / Analysis
Microdata and aggregated data
4
2
0
Microdata: individual data
Present
Risk Assessment
Present & Future
Microdata: individual data
Present
49
REPORT 2013 | Products and Services of the European CBSOs
April 2013
ECCBSO
SUMMARY
European Committee of Central Balance‐Sheet Data Offices
G42 | ECCBSO – PRESENT AND FUTURE
Aggregated data
7
6
5
4
Studies / Reports / Analysis
3
Microdata and aggregated data
aggregated data
2
1
0
Microdata: individual data
Risk Assessment
Present & Future
Present
*The scale corresponds to the number of P&S types available
REPORT 2013 | Products and Services of the European CBSOs
50
April 2013
ECCBSO
European Committee of Central Balance‐Sheet Data Offices
p
51