Banco de Portugal
Supplement to the Statistical Bulletin
August 2001
“STATISTICAL BALANCE SHEET” AND “ACCOUNTING BALANCE
SHEET” OF OTHER MONETARY FINANCIAL INSTITUTIONS
I - INTRODUCTION.................................................................................................................................. 3
II – CONTENTS OF THE NEW TABLES OF THE STATISTICAL BULLETIN .................................... 3
III- EXPLANATION ON THE MAJOR DIFFERENCES BETWEEN BOTH TABLES ........................... 5
ANNEX 1 – STATISTICAL CONCEPTS................................................................................................... 9
ANNEX 2 – NEW TABLES OF THE STATISTICAL BULLETIN......................................................... 16
Supplements to the Statistical Bulletin ....................................................................................................... 18
Statistics Department
Number 1/2001
“Statistical Balance Sheet” and “Accounting Balance Sheet” of Other Monetary Financial Institutions
I.
INTRODUCTION
The publication of two new tables will begin with the
present issue of the Statistical Bulletin:
A.3.13 Other
(resident)
monetary
financial institutions’ consolidated balance
sheet: table compiled from information sent
to the Banco de Portugal for the purpose of
reporting
monetary
statistics.
The
methodologies and concepts used are
consistent with the remaining information of
the Other Monetary Financial Institutions’
(OMFIs) balance sheet presented in the
Statistical Bulletin.
A.3.14 Aggregated balance sheet of the
banking system – consolidated activity:
table compiled from accounting information
sent to the Banco de Portugal on a
consolidated basis. The reporting concepts
and methodologies are different from those
used in the construction of monetary
statistics.
Both tables correspond to balance sheets of financial
institutions. However, in view of the underlying
concepts and methodologies, the readings that one
might take of the tables are substantially different. The
purpose of the present note is to briefly describe the
contents of both tables, pointing out the major
differences. These are chiefly the result of the noncoincidence of the reporting population and of the
different consolidation procedures. Therefore, the first
table presents the consolidated activity of resident
OMFIs, whereas the second table also includes the
activity carried on by non-resident entities, provided
that they are integrated in financial groups subject to
the Banco de Portugal supervision on a consolidated
basis.
perspective, gathering information included in the
tables of chapters B.1 to B.7.
Table A.3.14. Aggregated balance sheet of the
banking system – consolidated activity is an exception
in the set of information supplied in the Statistical
Bulletin, since, as previously mentioned, it is based on
accounting information received by the Banco de
Portugal. This information on the financial situation of
the banking system, in particular with regard to the
composition of the net position of the national banking
system vis-à-vis other foreign credit institutions,
supplements the information made available within
the monetary and financial statistics.
Both tables publish end-of-month figures expressed in
Euro million. These tables will also include historical
information (since December 1998), and will be
published on a quarterly basis.
Table A.3.13 – Other monetary financial institutions’
consolidated balance sheet
This table is a consolidated balance sheet of resident
other monetary financial institutions (OMFIs). The
statistical concept of monetary financial institution
(MFI) has been harmonised across all European Union
countries1. The OMFI sector consists of MFIs
excluding national central banks. Therefore, in
Portugal, the OMFI sector does not include the Banco
de Portugal and consists of all other banks (including
the Caixa Geral de Depósitos), savings banks, mutual
agricultural credit banks and money market funds. It
should be noted that the other credit institutions
(investment companies, financial leasing companies,
factoring companies and credit-purchase financing
companies), from a statistical perspective, are
classified as other financial intermediaries (a statistical
subgroup of non-monetary financial institutions
(NMFIs)) and therefore are not covered by the OMFI
concept.
II. CONTENTS OF THE NEW TABLES OF THE
STATISTICAL BULLETIN
Both tables will be integrated in Chapter A3 of the
Statistical Bulletin, which presents main monetary
statistical indicators.
A more detailed explanation of the statistical concepts
underlying the monetary statistics component of the
Statistical Bulletin is presented in Annex 1. It
describes the residence concept, the sectoral
1
Table A.3.13 allows a reading of the consolidated
situation of the OMFI sector, from a statistical
2
This concept is defined in Regulation (EC) no. 2819/98 of the
European Central Bank, and has also been adopted in the European
System of National and Regional Accounts (ESA 95).
Banco de Portugal / Supplement no. 1/2001 to the Statistical Bulletin – August 2001
“Statistical Balance Sheet” and “Accounting Balance Sheet” of Other Monetary Financial Institutions
breakdown and the classification of the financial
instruments included in that component.
The fact that table A.3.13 is a consolidated balance
sheet of OMFIs means that, in the aggregation of the
balance sheets’ data of every institution integrating
this sector, the balances of operations between those
institutions were netted out. For instance, the balances
of loans or deposits between institutions of this sector
are not shown in this balance sheet as a result of
consolidation, as a debtor balance of an institution
corresponds to a creditor balance to the same amount
in the balance sheet of the counterparty of that
operation, resulting in a nil position for the sector, in
net terms. For the same reason, and also by way of
example, the liability items “Securities other than
capital” and “Capital and reserves” do not include
liabilities vis-à-vis other institutions of this sector,
which result from the direct holding by OMFIs of
securities issued by institutions of the same sector.
This last item includes “Operating income” net of
“Operating costs”, that are included under “Remaining
accounts” in the other tables of the Statistical Bulletin.
As of December 1999, it also includes provisions for
non-performing loans2 previously included under
“Remaining liabilities”. “Other accounts” are included
in net terms under “Remaining assets” and
“Remaining liabilities”, depending on the respective
sign.
Table A.3.14 – Aggregated balance sheet of the
banking system – consolidated activity
Portugal4. It does not include money market funds.
The information used is based on an accounting
report, in line with the System of Accounts for the
Banking System and with the accounting data
disseminated by the institutions.
Unlike table A.3.13, the consolidation of the activity
is carried out from a financial group point of view,
irrespective to whether the participating entities are
resident or non-resident. This means that whenever an
institution of the OMFI sector is integrated in a
financial group, its activity is consolidated with that of
the other credit institutions, similar entities5 and
ancillary services companies6, resident and nonresident, belonging to that financial group. Against
this background, two companies are deemed to belong
to the same financial group when one of the
companies is controlled by the other7, either directly
or indirectly. Therefore, consolidated activity covers
both subsidiaries and branches located in Portugal or
abroad.
The consolidation of accounts mentioned in this
aggregated balance sheet is limited at each financial
group level (intra-group consolidation). This
consolidation is followed by the aggregation of
information of the consolidated groups and of the
institutions not integrated in consolidated groups,
without any consolidation of asset and liability
positions among each other.
4
Resident OMFIs having their head office abroad, in particular
branches in Portugal of credit institutions having their head office
abroad and authorised to receive repayable funds from the public,
This table presents the aggregated balance sheet of
the banking system – consolidated activity
calculated by simple aggregation of: (i) balance
sheets, on a consolidated basis, of the financial groups
that include in the consolidation perimeter3 at least
one OMFI the principal activity of which is carried on
in Portugal, and (ii) balance sheets, on an individual
basis, of the OMFIs that are not consolidated in
are considered on an individual basis.
5
Pursuant to point a) of Article 130 (2) of the Legal Framework of
Credit Institutions and Financial Companies, approved by DecreeLaw no. 298/92, of 31 December, entities similar to credit
institutions shall be financial companies and any legal person, other
than a credit institution or a financial company, the principal
activity of which is to acquire holdings (e.g. Holding Companies).
6
Ancillary services companies shall be companies whose chief
purpose is complementary to the principal activity of one or more
2
In the case of the consolidated balance sheet of OMFIs, credit is
presented in gross terms (not net from provisions).
3
In the case of OMFIs having their head office in Portugal and with
credit institutions, namely the holding or management of data
processing services, pursuant to Article 13 (11) of the Legal
Framework of Credit Institutions and Financial Companies.
the participants of financial groups having their head office and
7
main activity abroad, the consolidation perimeter is defined in such
Article 13 (2) of the Legal Framework of Credit Institutions and
a manner that no type of consolidation is performed with the parent
Financial Companies, which may be consulted on-line on the
institutions having their head office abroad.
website of the Banco de Portugal.
An accurate description of the control relationship is provided in
Banco de Portugal / Supplement no. 1/2001 to the Statistical Bulletin – August 2001
3
“Statistical Balance Sheet” and “Accounting Balance Sheet” of Other Monetary Financial Institutions
In short, this table is an aggregated balance sheet of
the following groups of institutions, after previous
consolidation at the level of each financial group:
− Credit institutions, financial companies, other
entities similar to credit institutions8 and ancillary
services companies, either resident or non-resident,
belonging to financial groups the principal activity
of which is located in Portugal;
− Resident OMFIs9 having their head office in
Portugal, not belonging to any financial group;
− Resident OMFIs10 having their head office abroad.
The accounting balance sheet does not include
equivalent concepts applicable to all assets and
liabilities vis-à-vis non-residents. These are, in assets
side: (i) “Cash and liquid assets in central banks”,
which, deducted from the values “in the Banco de
Portugal” leads to the determination of assets in
foreign central banks, and (ii) “Credits to other credit
institutions – abroad”; and in liabilities side: (i)
“Resources from central banks”, also with separate
information on the Banco de Portugal, and (ii)
“Resources from other credit institutions – abroad”
III. EXPLANATION OF THE MAJOR DIFFERENCES
•
Assets and liabilities vis-à-vis resident OMFIs
and other credit institutions
BETWEEN BOTH TABLES
The balance sheet structure is, as much as possible,
similar in both tables. There are, however,
methodological and conceptual differences, the most
important of which are explained below. In order to
facilitate the explanation, the other monetary
financial institutions consolidated balance sheet
(table A.3.13) will be mentioned as “statistical
balance sheet” and the aggregated balance sheet of
the banking system – consolidated activity (table
A.3.14) will be mentioned as the “accounting
balance sheet”.
•
Assets and liabilities vis-à-vis non-residents
The assets and liabilities of OMFIs vis-à-vis nonresidents are almost fully defined in the statistical
balance sheet, covering every balance vis-à-vis nonresident entities, irrespective of the instrument by
which they are represented. The exception consists in
liabilities represented by securities, the current holders
of which are not known by the institutions, wherefore
it is not possible to identify the portion held by nonresidents. Thus, the portion of these liabilities that is
not recorded under assets of resident OMFIs is fully
reflected in the items “Securities, other than capital”
and “Capital and reserves”. Liabilities represented by
securities issued by OMFIs and that are included in
the portfolio of OMFIs are deducted in the process of
consolidation of intra-sector positions.
8
See Footnote no. 5.
9
Excluding money market funds.
10
4
Idem.
As previously mentioned, assets and liabilities vis-àvis resident OMFIs are not shown in the statistical
balance sheet, since intra-sector positions are
consolidated. In turn, assets and liabilities vis-à-vis
resident non-MFI (e.g. investment companies,
factoring companies, financial leasing companies and
credit-purchase financing companies) are shown in
“Assets vis-à-vis the non-monetary resident sector”
and in “Deposit and deposit-like instruments vis-à-vis
the non-monetary resident sector”.
In the accounting balance sheet, non-consolidated
balances vis-à-vis non-MFI are included under
“Credits to (resources from) credit institutions in the
country”. These items cover also non-consolidated
credits to and resources from resident OMFIs (as they
relate to balances among institutions belonging to
different financial groups) as well as assets and
liabilities of consolidated non-MFI vis-à-vis other
credit institutions.
It is worth noting that, in memo items, where these
items are presented in net terms, the balances between
resident OMFIs are cancelled out. However, the
balance associated with these institutions will prevail
for non-consolidated non-MFI.
•
Assets and liabilities vis-à-vis non-resident
OMFIs and other credit institutions
In the statistical balance sheet, assets vis-à-vis nonresident OMFI are fully broken down into two
categories according to the type of instrument: (i)
Credits and credit-like instruments, and (ii) Securities.
Banco de Portugal / Supplement no. 1/2001 to the Statistical Bulletin – August 2001
“Statistical Balance Sheet” and “Accounting Balance Sheet” of Other Monetary Financial Institutions
Credits and credit-like instruments vis-à-vis nonresident OMFI are broken down into “Credit and
credit-like instruments – vis-à-vis OMFI, excluding
departments abroad11” and “Credits and credit-like
instruments – vis-à-vis OMFI, departments abroad”.
Liabilities represented by securities, as mentioned
above, are not broken down by the institutional sector
of the holder, wherefore liabilities vis-à-vis nonresident OMFI include only deposits and deposit-like
instruments, broken down into “OMFI, excluding
department abroad” and “OMFI, departments abroad”.
The accounting balance sheet presents credits to and
resources from credit institutions abroad (OMFI and
other credit institutions are considered on the whole),
that refer to loans and deposits. The breakdown of
credits and resources (loans and deposits) vis-à-vis
foreign branches of the institution is not shown, since
these balances are consolidated.
•
Loans vis-à-vis the non-monetary resident
sector and credit to customers
The item “Loans vis-à-vis the non-monetary resident
sector” of the statistical balance sheet compares with
the item “Credit to customers, net of provisions” of
the accounting balance sheet. The major differences of
contents between both concepts are a result of the
following:
- the accounting balance sheet item includes loans
to non-resident entities not falling within the
classification of credit institutions. In the
statistical balance sheet, loans to non-resident
entities that are not OMFIs are classified as
“Assets vis-à-vis non-residents – credits and
credit-like instruments vis-à-vis other sectors”;
- the statistical balance sheet item is presented as a
gross value, without deduction of provisions,
whereas in the accounting balance sheet “Credit
to customers” is net of specific credit provisions
(provisions for overdue loans, non-performing
loans and country risk);
- the statistical balance sheet item includes loans
granted by OMFIs to non-Monetary Financial
Institutions (non-MFIs), in particular to financial
leasing companies, factoring companies, credit11
Includes the head-offices of foreign MFI having branches in
Portugal.
-
•
purchase financing companies and financial
holdings. In the accounting balance sheet, loans
granted to these institutions, in case they fall
within the consolidation perimeter of a financial
group, are consolidated, wherefore they are not
shown in the aggregate. In the situation in which
these loans are not consolidated in the accounting
balance sheet (e.g., the non-MFI receiving the
loan is not consolidated in any financial group, or
the loan involves institutions of different groups),
the corresponding balances are shown in the item
“Credits to credit institutions” instead of “Credit
to customers”;
the accounting balance sheet includes credit
granted to customers by consolidated non-MFI.
Investments in securities
In the accounting balance sheet, all investments in
securities, including financial fixed assets, that were
not consolidated are included under assets in the item
“Securities and financial fixed assets”, by their value
net of provisions, irrespective of the institutional
sector of the issuing entity. In the statistical balance
sheet, assets do not include securities issued by
resident OMFI that are deducted as a result of the
intra-sectoral consolidation of OMFI. The remaining
investments in securities are classified in “Assets visà-vis non-residents – Securities” and “Assets vis-à-vis
the non-monetary resident sector – Securities”.
•
Deposits and deposit-like instruments vis-à-vis
non-monetary resident sector and resources
from customers
In the statistical balance sheet, the item “Deposits and
deposit-like instruments vis-à-vis the non-monetary
resident sector” includes all deposits and deposit-like
liabilities vis-à-vis resident entities not falling within
the MFI concept.
In the accounting balance sheet, the corresponding
item is “Resources from customers”. The major
differences between this concept and that of the
statistical balance sheet consist in that: (i) the
accounting balance sheet includes liabilities from nonresident customers that are classified as “Deposits and
deposit-like instruments vis-à-vis non-residents – visà-vis other sectors” in the statistical balance sheet, and
(ii) the accounting balance sheet also includes
Banco de Portugal / Supplement no. 1/2001 to the Statistical Bulletin – August 2001
5
“Statistical Balance Sheet” and “Accounting Balance Sheet” of Other Monetary Financial Institutions
resources from non-resident customers obtained
through foreign branches and subsidiaries which, as
previously mentioned, in their quality as non-resident
institutions, are not included in the statistical balance
sheet.
•
Securities other than capital and liabilities
represented by securities
The scope of the items “Securities other than capital”
of the statistical balance sheet and “Liabilities
represented by securities” of the accounting balance
sheet is similar: securitised liabilities that do not
represent holding rights over the institution. There are,
however, significant differences between the values of
the balance sheets, chiefly explained as follows:
- the accounting balance sheet includes securities
issued by non-resident institutions covered by the
consolidation perimeter, in particular foreign
branches of financial groups. The statistical
balance sheet includes only the securities of
resident OMFIs. The strong growth of the issues
of securities by foreign branches of Portuguese
financial groups in 1999 and 2000 is behind the
difference between the balances of liabilities
represented by securities in both balance sheets in
December 2000 (EUR 17 267 million in the
statistical balance sheet and EUR 28 978 million
in the accounting balance sheet);
- the item “Securities other than capital” in the
statistical balance sheet includes subordinated
liabilities in the form of securities. In the
accounting balance sheet, these are classified
separately under “subordinated debt” with
liabilities for loans with a subordination clause;
- in the statistical balance sheet, as mentioned
above, the intra-sectoral balances of the OMFIs
are consolidated. The “Securities other than
capital” that are issued by resident OMFIs and
that are temporarily held by resident OMFIs are
entered by their net value in the above-mentioned
liability item. In the accounting balance sheet, the
consolidation of holdings of securities is only
carried out in case there is a control relationship
between the issuing institution and the holding
institution.
6
Banco de Portugal / Supplement no. 1/2001 to the Statistical Bulletin – August 2001
“Statistical Balance Sheet” and “Accounting Balance Sheet” of Other Monetary Financial Institutions
ANNEX 1
STATISTICAL CONCEPTS
Banco de Portugal / Supplement No. 1/2001 to the Statistical Bulletin – August 2001
“Statistical Balance Sheet” and “Accounting Balance Sheet” of Other Monetary Financial Institutions
STATISTICAL CONCEPTS
This Annex summarises the main concepts underlying the monetary statistics component12 published in the Banco
de Portugal’s Statistical Bulletin.
1.
Residence concept
An institutional unit is said to be a resident unit of a country when it has a centre of economic interest on the
economic territory of that country.13
2.
Sectoral breakdown
The monetary statistics component of the Statistical Bulletin shows the following sectoral breakdown:
i. Financial sector
The financial sector of the economy includes the institutions (called financial institutions) which are entrusted
with money creation capacity and those which, although not having such capacity, are engaged in financial
intermediation activities, by canvassing for savings and subsequently investing them in financial assets, as well
as providing related financial and technical services. The table below shows the composition of the financial
sector by identifying the institutions which are included in the previously mentioned concepts of credit
institutions (Portuguese abbreviation: IC), financial companies (Portuguese abbreviation: SF) and other similar
entities (Portuguese abbreviation: OEE) (in accordance with the classification provided for in the Legal
Framework of Credit Institutions and Financial Companies – approved by Decree-Law No. 298/92 of 31
December).
12
A more detailed description of the concepts can be found in Instruction No. 43/97 of the Banco de Portugal and respective annexes, which
defines the reporting requirements of Monetary Statistics, available on the Banco de Portugal’s website.
13
The distinction between resident sector and non-resident sector is, in general, in accordance with the definition of resident laid down by the
International Monetary Fund, also adopted in the European System of National and Regional Accounts 1995 (see paragraph A. – Residence
criterion, of Chapter II – General features of the data to be reported, in the annex to Instruction No. 43/97 ).
Banco de Portugal / Supplement No. 1/2001 to the Statistical Bulletin – August 2001
“Statistical Balance Sheet” and “Accounting Balance Sheet” of Other Monetary Financial Institutions
Notes
FINANCIAL SECTOR
Banco de Portugal
Monetary
financial
institutions
Other
monetary
financial
institutions
Banks
IC
Savings banks
IC
Mutual agricultural credit banks
IC
Money market funds
Investment funds (excluding money market funds)
Other financial
intermediaries
Nonmonetary
financial
institutions
Other financial
auxiliaries
Risk capital companies
SF
Factoring companies
CI
Dealers
SF
Investment companies
IC
Credit-purchase financing companies
IC
Financial holding companies
OEE
Financial leasing companies
IC
Financial intermediaries – Other
SF / IC
Exchange offices
SF
Brokers
SF
Investment fund managing companies
SF
Wealth managing companies
SF
Financial auxiliaries – other
SF
Insurance corporations and pension funds
ii. Non-financial sector
GENERAL GOVERNMENT
Central government
State
Autonomous funds and services
Regional government
General government
excluding central
government
Azores
Madeira
Local government
Mainland
Azores
Madeira
Social security
NON-FINANCIAL SECTOR (EXCLUDING GENERAL GOVERNMENT)
Non-financial corporations
Households
Private individuals
Employers and self-employed
Other
Non-profit institutions serving households
Emigrants
Banco de Portugal / Supplement No. 1/2001 to the Statistical Bulletin – August 2001
“Statistical Balance Sheet” and “Accounting Balance Sheet” of Other Monetary Financial Institutions
iii. Non-resident sector
With regard to the non-resident sector, the sectoral breakdown of entities is similar to that for resident entities,
with the necessary changes. Reference should only be made to the following:
- In effect, the concept of MFIs is only applied in countries belonging to the European Union. For the
remaining countries, this sector must be understood as “Banking sector”. Similarly, the concept of
non-MFIs must be understood as “Non-bank financial sector” for countries not participating in the
European Union.
- The OMFI sector or banking sector (whether or not it is a EU country respectively) is further broken down
into “Head office and branches of the institution ” and “Other”.
Head office and branches of the institution
Head office or branches abroad of the reporting institutions which in the different countries are classified as
MFIs or banks (whether or not it is a EU country respectively).
Other
Other MFIs or banks (whether or not it is a EU country respectively), excluding the Central Bank, which
are not the head office or branches of each reporting institution. This means that this category includes
operations with the head office or the branches of other resident MFIs other than the reporting institution.
3.
Classification of financial instruments
The range of financial instruments and other items, adopted for the purposes of monetary statistics, is based on
the framework defined in the European System of National and Regional Accounts (ESA 95), some changes
being introduced due to internal analysis requirements.
The instruments shown can be included in assets, liabilities or in off-balance sheet accounts. These can be
shown on an individual or aggregated basis. The two tables at the end of this section show an outline of the
aggregations of assets and liabilities considered in the monetary statistics component.14
i.
Currency
Legal tender notes and coins held in reserve in the country or abroad (whether or not convertible). Currency is
deemed to be a liability of the issuing monetary authority. This category excludes commemorative coins that are
not commonly used to make payments, particularly those without legal tender.
ii. Deposits
These include transferable deposits, notice deposits, time deposits and savings deposits (including housing
savings deposits and emigrants’ accounts)
iii. Certificates of deposit
Fixed-term securities representing deposits with the issuing institution, in Portuguese or foreign legal tender
currency, regulated by Decree-Law No. 372/91 of 8 October, and other applicable legislation. Similar
instruments issued on foreign markets are also included.
14
At the end of the Statistical Bulletin a more detailed table of these instruments is shown, as well as in Chapter IV, in the annex to Instruction
No. 43/97, in which individual instruments are described in detail.
4
Banco de Portugal / Supplement No. 1/2001 to the Statistical Bulletin – August 2001
“Statistical Balance Sheet” and “Accounting Balance Sheet” of Other Monetary Financial Institutions
Although certificates of deposit issued in Portugal are registered securities transferable by endorsement, they do
not have a significant secondary market. Given that they are not negotiable nor normally traded, they are not
included in the securities concept.
iv. Repurchase agreements
Operations whereby an institution or a customer (seller) sells to another institution or customer (purchaser)
assets that are his/her property, simultaneously obtaining the right and obligation to repurchase it at a specific
price on a future date. The ownership of the assets is retained by the seller. Reporting institutions can act as
both seller and purchaser.
v.
Loans
Supply of funds whose maturity, interest rate, repayment conditions and payment of interest are normally
established in a contract. In general, it is the debtor that takes the initiative as to the loan, and the conditions
regulating it are set by the creditor or agreed between both parties. Loans represented by contracts normally
traded on the secondary market and considered “Other debt securities” are not included.
This category includes:
− Discount.
− Interbank money market loans.
− Subordinated loans.
− Other loans.
− Current account credit.
− Overdrafts on demand deposits: debit balances on demand deposits.
− Financial leasing operations.
− Advances made within the scope of factoring operations.
− Other loans.
− Other assets (liabilities) of (to) third parties, similar to loans (deposits), such as repayable margin payments
related to financial derivatives.
− Overdue loans and other non-performing loans.
vi. Securities other than shares / securities other than capital
Negotiable debt securities normally traded in the financial markets, which confer on the holder the
unconditional right to a contractually determined income, but which do not grant any ownership rights on the
issuing entity.
These include, namely:
− Treasury bills (Portuguese abbreviation: BT)
− Commercial paper
− Bonds (except subordinated bonds)
− Subordinated bonds.
− Participating bonds.
− Other debt securities (such as deposit securities issued by the Banco de Portugal).
− Derivatives. Financial assets based on or derived from a different underlying instrument. Only the financial
derivatives with market value, tradable on the stock exchanges are included in the balance sheet, namely
options, futures or warrants.
vii. Money market paper
Tradable debt securities issued by monetary financial institutions, with a high degree of liquidity due to their
trading in liquid money markets, whose participants are mostly monetary financial institutions and other
financial institutions.
Banco de Portugal / Supplement No. 1/2001 to the Statistical Bulletin – August 2001
“Statistical Balance Sheet” and “Accounting Balance Sheet” of Other Monetary Financial Institutions
viii. Money market fund shares/units
Securities corresponding to money market fund shares which can be represented by certificates of one or more
units or in book-entry form. In Portugal this type of instrument only exists since April 2000, the date on which
money market funds were considered for statistical purposes.
ix. Shares and other equity
Financial assets which represent property rights on the issuing entity. These include, namely:
− Shares.
− Units. Securities related to investment fund shares (except money market funds) which can be represented by
certificates of one or more units or in book-entry form.
− Quotas.
− Supplementary instalment payments.
− Guarantees with the nature of fixed assets.
x.
Profit and loss account
Current and extraordinary profit and loss for the year and results carried forward from previous fiscal years.
xi. Reserves
Reserves set up by reporting institutions irrespective of their nature. These include, inter alia, issuance premia.
xii. Provisions
Provisions for general credit risks and other provisions which do not correspond to current or future liabilities to
third parties. These include, inter alia, provisions for non-performing loans.
xiii. Fixed assets
Assets belonging to the reporting institutions and assigned to their activity. These include the majority of
tangible fixed assets, except art collections and similar property, held on account of debts recovered, which
shall be included in “Other accounts”. It should be noted that fixed assets are recorded by their value net of
depreciation.
6
Banco de Portugal / Supplement No. 1/2001 to the Statistical Bulletin – August 2001
“Statistical Balance Sheet” and “Accounting Balance Sheet” of Other Monetary Financial Institutions
ASSETS
Currency
Deposits
Discount
Interbank money market loans
Credits and credit-like
Subordinated loans
instruments
Loans
Other loans (except in the IMM and subordinated loans)
Other assets
Non-performing loans
Treasury bills
Commercial paper
Bonds (except subordinated bonds)
Securities other than shares
Subordinated bonds
Participating bonds
Other debt securities
Securities
Derivatives
Money market paper
Money market fund shares/units
Shares
Investment funds units (except MMF shares/units)
Shares and other equity
Other equity
Fixed assets
Remaining assets
Other assets
LIABILITIES
Transferable deposits
Notice deposits
Deposits
Time and savings deposits
Certificates of deposit
Deposits and
Repurchase agreements
deposit-like instruments
Discount
Interbank money market loans
Loans
Subordinated loans
Other loans (except IMM and subordinated loans)
Other liabilities
Commercial paper
Bonds (except subordinated bonds)
Subordinated bonds
Securities other than capital
Participating bonds
Other debt securities
Derivatives
Money market paper
Money market fund shares/units
Shares
Shares and other equity
Other equity
Capital and reserves
Profit and loss account
Reserves
Provisions
Remaining liabilities
Banco de Portugal / Supplement No. 1/2001 to the Statistical Bulletin – August 2001
ANNEX 2
NEW TABLES OF THE STATISTICAL BULLETIN
Table A.3.13
Table A.3.14
A.3.13
BALANÇO CONSOLIDADO DAS OUTRAS INSTITUIÇÕES
FINANCEIRAS MONETÁRIAS (RESIDENTES) (1)
Saldos em fim de mês
OTHER (RESIDENT) MONETARY FINANCIAL INSTITUTIONS
CONSOLIDATED BALANCE SHEET (1)
End-of-period figures
106 euros
Fonte / Source: Banco de Portugal
DEZ
98
1
DEZ
99
2
MAR
00
3
JUN
00
4
SET
00
5
DEZ
00
6
MAR
01
7
ACTIVO
1
2
3
4
5
6
7
8
9
10
11
12
13
14
ASSETS
Activos face ao Banco de Portugal . . . . . . . . . . . . . . . . . . . . . .
Activos sobre o exterior . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Créditos e equiparados. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Face a OIFM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
OIFM excepto sede e sucursais da própria instituição . . .
Sede e sucursais da própria instituição . . . . . . . . . . . . . . .
Face a outros sectores . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Títulos . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
de OIFM. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
de outros sectores . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Activos sobre o sector não monetário residente . . . . . . . . . . . .
Empréstimos . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Títulos . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Activos diversos (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
8 508
46 975
37 998
34 681
29 037
5 644
3 317
8 977
3 453
5 524
114 871
90 989
23 882
11 141
9 891
48 154
39 406
32 716
27 668
5 049
6 690
8 747
3 370
5 377
137 761
116 662
21 100
13 789
7 666
52 194
44 208
36 625
31 359
5 266
7 583
7 986
3 541
4 445
145 252
122 797
22 455
11 493
8 066
50 254
43 061
34 983
30 901
4 082
8 078
7 193
2 933
4 261
155 850
131 512
24 338
13 617
8 051
51 584
43 437
34 674
30 640
4 034
8 763
8 146
3 283
4 864
164 380
137 163
27 217
12 367
8 466
56 677
48 173
39 801
35 101
4 700
8 372
8 504
3 062
5 441
169 259
145 126
24 132
12 148
7 948
55 376
46 979
39 804
32 738
7 066
7 175
8 397
3 001
5 396
176 393
151 292
25 100
11 761
15 Total do activo (1+2+11+14) . . . . . . . . . . . . . . . . . . . . . . . . . . .
181 495
209 594
216 604
227 787
236 381
246 549
251 477 Total assets (1+2+11+14) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
PASSIVO
Assets vis-à-vis Banco de Portugal . . . . . . . . . . . . . . . . . . . . . .
Assets vis-à-vis non-residents . . . . . . . . . . . . . . . . . . . . . . . . . .
Credits and credit-like instruments . . . . . . . . . . . . . . . . . . . . .
Vis-à-vis other MFI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Other MFI excluding departments abroad . . . . . . . . . . . . .
Departments abroad . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Vis-à-vis other sectors . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
issued by other MFI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
issued by other sectors . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Assets vis-à-vis the non-monetary resident sector . . . . . . . . . .
Loans . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Remaining assets (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1
2
3
4
5
6
7
8
9
10
11
12
13
14
LIABILITIES
Passivos face ao Banco de Portugal . . . . . . . . . . . . . . . . . . . . .
Depósitos e equiparados do exterior . . . . . . . . . . . . . . . . . . . . .
de OIFM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
OIFM excepto sede e sucursais da própria instituição . . . . .
Sede e sucursais da própria instituição . . . . . . . . . . . . . . . .
de outros sectores . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Depósitos e equiparados do sector não monetário residente . .
Títulos excepto capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Passivos diversos (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Capital e reservas (3) (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
do qual: provisões para crédito de cobrança duvidosa (3) (5) . .
1 231
48 721
41 994
33 250
8 744
6 728
100 705
10 448
6 403
13 988
.
2 582
57 628
49 737
39 723
10 014
7 891
112 296
12 991
6 102
17 996
2 311
1 534
63 512
53 413
43 517
9 896
10 099
113 572
13 463
5 585
18 937
2 277
2 690
68 644
57 352
48 527
8 825
11 292
115 769
14 228
5 897
20 559
2 173
2 031
73 092
61 311
50 861
10 449
11 781
117 534
15 555
5 157
23 011
2 224
3 299
78 365
69 074
55 183
13 891
9 292
120 094
17 267
5 673
21 850
2 285
2 433
84 703
71 149
49 543
21 606
13 554
116 934
19 116
6 306
21 986
2 206
27 Total do passivo (16+17+22+23+24+25). . . . . . . . . . . . . . . . . .
181 495
209 594
216 604
227 787
236 381
246 549
251 477 Total liabilities (16+17+22+23+24+25). . . . . . . . . . . . . . . . . . . . 27
Por memória:
28 Activos líquidos face ao Banco de Portugal (1-16) . . . . . . . . . .
29 Activos líquidos sobre o exterior (2-17) . . . . . . . . . . . . . . . . . . .
30 dos quais: créditos e depósitos (3-17) . . . . . . . . . . . . . . . . . .
31
Face a OIFM (4-18) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
OIFM excepto sede e sucursais da própria instituição (5-19)
32
33
Sede e sucursais da própria instituição (6-20) . . . . . . . . .
34
Face a outros sectores (7-21). . . . . . . . . . . . . . . . . . . . . . . .
7 277
-1 746
-10 723
-7 313
-4 212
-3 100
-3 410
7 309
-9 474
-18 221
-17 021
-12 056
-4 965
-1 200
6 132
-11 319
-19 305
-16 788
-12 158
-4 630
-2 517
5 376
-18 390
-25 583
-22 369
-17 626
-4 743
-3 214
6 020
-21 508
-29 655
-26 637
-20 221
-6 416
-3 018
5 167
-21 689
-30 192
-29 272
-20 082
-9 191
-920
Memo items:
5 514 Net assets vis-à-vis Banco de Portugal (1-16). . . . . . . . . . . . . .
-29 327 Net foreign assets (2-17) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
-37 724
of which: credits and deposits (3-17) . . . . . . . . . . . . . . . . . . .
-31 345
Vis-à-vis other MFI (4-18) . . . . . . . . . . . . . . . . . . . . . . . . . . .
-16 804
Other MFI excluding departments abroad (5-19) . . . . . . . .
-14 540
Departments abroad (6-20). . . . . . . . . . . . . . . . . . . . . . . . .
-6 379
Vis-à-vis other sectors (7-21) . . . . . . . . . . . . . . . . . . . . . . . .
16
17
18
19
20
21
22
23
24
25
26
Liabilities vis-à-vis Banco de Portugal . . . . . . . . . . . . . . . . . . . .
Dep. and deposits-like instruments vis-à-vis non-residents. . . .
Vis-à-vis other MFI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Other MFI excluding department abroad . . . . . . . . . . . . . . .
Departements abroad. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Vis-à-vis other sectores. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Dep.and dep-like instruments vis-à-vis non-monetary resident sector
Securities other than capital. . . . . . . . . . . . . . . . . . . . . . . . . . . .
Remaining liabilities (2) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Capital and reserves (3) (4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
of which: provisions for non-performing loans (3) (5). . . . . . . . .
16
17
18
19
20
21
22
23
24
25
26
28
29
30
31
32
33
34
__________________________________________________________________________________________________________________________________________________________________________
(1) Sobre metodologias e conceitos ver Suplemento 1/01 ao Boletim Estatístico de Agosto 2001. / For information on methodologies and concepts please see Supplement to the Statistical Bulletin 1/01 of August 2001.
(2) As contas diversas são consideradas em termos líquidos e afectas aos “Activos diversos” / “Passivos diversos” conforme o seu saldo. / The other accounts are considered in net terms and included under “Remaining
assets “ / ”Remaining liabilities” according to its sign.
(3) A partir de Dezembro de 1999, a noção de capital e reservas para fins estatísticos inclui provisões específicas para crédito de cobrança duvidosa e crédito vencido. Anteriormente as referidas provisões estavam
incluídas nos “passivos diversos”. / From December 1999 onwards, the capital and reserves for statistical purposes includes specific provisions for non-performing loans and overdue loans. These provisions were
previously included under “remaining liabilities”.
(4) Inclui os proveitos por natureza, líquidos de custos por natureza que, em termos do Boletim Estatístico, se encontram em contas diversas. / Includes operating incomes, net from operating costs, which are considered
under remaining items in the remainder of the Statistical Bulletin.
(5) O conceito estatístico de provisões para créditos de cobrança duvidosa inclui também as provisões para crédito vencido. / The provisions for non-performing loans for statistical purposes includes provisions for overdue
loans.
Banco de Portugal / Suplemento nº. 1/2001 ao Boletim Estatístico de Agosto 2001
19
A.3.14
BALANÇO AGREGADO DO SISTEMA BANCÁRIO
- ACTIVIDADE CONSOLIDADA (1)
Saldos em fim de período
AGGREGATED BALANCE SHEET OF THE BANKING SYSTEM
- CONSOLIDATED ACTIVITY (1)
End-of-period figures
106 euros
Fonte / Source: Banco de Portugal
DEZ
98
1
DEZ
99
2
JUN
00
3
DEZ
00
4
MAR
01
5
ACTIVO
ASSETS
Caixa e activos face a bancos centrais. . . . . . . . . . . . . . . . . . . .
dos quais: caixa e activos face ao Banco de Portugal. . . . . . .
Aplicações em outras instituições de crédito . . . . . . . . . . . . . . .
País. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Estrangeiro. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Crédito sobre clientes (líquido de provisões (2)) . . . . . . . . . . . . .
Títulos e imobilizações financeiras (líquidos de provisões) . . . .
Imobilizado não financeiro e outros activos . . . . . . . . . . . . . . . .
9 597
8 930
37 311
n.a.
n.a.
104 367
33 780
14 050
10 861
10 058
33 570
n.a.
n.a.
134 327
31 988
18 531
8 949
8 178
38 118
n.a.
n.a.
148 716
35 728
18 247
9 670
8 620
36 060
10 953
25 107
161 872
36 996
15 854
8 800
7 959
43 745
10 604
33 141
166 201
38 493
15 835
Cash and liquid assets in central banks . . . . . . . . . . . . . . . . .
of which: cash and liquid assets in the Banco de Portugal. .
Credits to other credit institutions . . . . . . . . . . . . . . . . . . . . . .
In the country . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Abroad . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Credit to customers (net of provisions (2)) . . . . . . . . . . . . . . . .
Securities and financial fixed assets (net of provisions) . . . . .
Non-financial fixed assets and other assets . . . . . . . . . . . . . .
1
2
3
4
5
6
7
8
9 Total do activo. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
199 106
229 277
249 757
260 453
273 074 Total assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
9
1
2
3
4
5
6
7
8
PASSIVO E CAPITAIS PRÓPRIOS
10
11
12
13
14
15
16
17
18
19
20
LIABILITIES AND EQUITY CAPITAL
Recursos de bancos centrais . . . . . . . . . . . . . . . . . . . . . . . . . . .
dos quais: do Banco de Portugal . . . . . . . . . . . . . . . . . . . . . . .
Recursos de outras instituições de crédito . . . . . . . . . . . . . . . . .
País . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Estrangeiro. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Recursos de clientes. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Responsabilidades representadas por títulos. . . . . . . . . . . . . . .
Passivos subordinados . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Provisões (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Outros passivos . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Capitais próprios . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1 690
1 468
42 692
n.d.
n.d.
116 730
11 246
5 680
1 874
7 112
12 082
3 158
2 658
45 638
n.d.
n.d.
128 928
18 310
6 303
2 295
10 350
14 296
2 954
2 657
53 458
n.d.
n.d.
135 646
23 623
6 882
2 565
9 604
15 025
3 462
3 300
52 202
10 024
42 178
140 407
28 978
7 174
3 152
9 791
15 287
2 704
2 441
58 546
9 024
49 522
141 025
33 846
7 646
3 238
10 039
16 030
21 Total do passivo e capitais próprios . . . . . . . . . . . . . . . . . . . . . .
199 106
229 277
249 757
260 453
273 074 Total liabilities and equity capital . . . . . . . . . . . . . . . . . . . . . . . 21
Por memória:
22 Caixa e activos líquidos face ao Banco de Portugal (2-11) . . . .
23 Aplicações em outras instit. de crédito líquidas de recursos (3-12)
24 País (4-13) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
25 Estrangeiro (5-14) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7 463
-5 381
n.a.
n.a.
7 401
-12 068
n.a.
n.a.
5 520
-15 340
n.a.
n.a.
5 320
-16 142
929
-17 071
Memo items:
5 517 Cash and liquid assets in the Banco de Portugal (2-11) . . . . .
-14 801 Credits to other credit institutions net of resources (3-12) . . . .
1 580 In the country (4-13) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
-16 381 Abroad (5-14). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Resources from central banks . . . . . . . . . . . . . . . . . . . . . . . . .
of which: of the Banco de Portugal . . . . . . . . . . . . . . . . . . . .
Resources from other credit institutions . . . . . . . . . . . . . . . . .
In the country . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Abroad . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Resources from customers . . . . . . . . . . . . . . . . . . . . . . . . . . .
Liabilities represented by securities. . . . . . . . . . . . . . . . . . . . .
Subordinated debt . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Provisions (3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Other liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Equity capital . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
10
11
12
13
14
15
16
17
18
19
20
22
23
24
25
__________________________________________________________________________________________________________________________________________________________________________
(1) Sobre metodologias e conceitos ver Suplemento 1/01 ao Boletim Estatístico de Agosto 2001. / For information on methodologies and concepts please see Supplement to the Statistical Bulletin 1/01 of August 2001.
(2) Provisões específicas para crédito vencido, de cobrança duvidosa e de risco país. / Specific provisions for overdue loans, doubtful loans and country risk.
(3) Exclui as provisões específicas para crédito vencido, de cobrança duvidosa e de risco país. / Excludes specific provisions for overdue loans, doubtful loans and country risk.
20
Banco de Portugal / Suplemento nº. 1/2001 ao Boletim Estatístico de Agosto 2001
Supplements to the Statistical Bulletin
Supplements to the Statistica1 Bulletin
1/98
Statistical information on non-monetary financial institutions, December 1998.
2/98
Foreign direct investment in Portugal: flows and stocks statistics for 1996 and stocks estimates
for 1997, December 1998.
1/99
New presentation of the balance of payments statistics, February/March 1999.
2/99
Statistical information on mutual funds, December 1999.
1/00
Portuguese direct investment abroad (available only in portuguese), December 2000.
1/01
“Statistical balance sheet” and “Accounting balance sheet” of other monetary financial institutions
August 2001.