Working Party on Financial Statistics
Paris, 10-11 October 2005
Michèle Chavoix-Mannato
National Accounts and Financial Statistics
OECD Statistics Directorate

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The WPFS decided at the 2004 meeting to include into the joint OECD/Eurostat questionnaire on Financial Accounts additional yearly tables on:
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Households' financial and non financial assets
Institutional investors’ financial and non financial assets
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In May 2005, respondents to the last questionnaire as well as Delegates of the WPFS have received :
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Two methodological documents with definitions of the new assets for households and of the detailed institutional investors.
Two statistical questionnaires.
Two brief methodological surveys.
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Herewith the results of these new data collection .
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The table 7.HA includes a detailed breakdown of :
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Investment funds shares (AF.52)
Net equity of households in life insurance reserves ( AF.611)
Net equity of households in pension funds reserves (AF.612)
Some non financial assets (Dwellings, Lands…).
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This finer breakdown is in compliance with the financial classification of the System of National Accounts (SNA).
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Deviations from the standard definitions were possible and should be specified in the methodological survey joint to the statistical questionnaire.
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The period requested was 1995-2004.
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Financial and Non Financial Assets of
Households – Table 7.HA (Cont.)
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21 countries out of 23 which provide the OECD with financial balance sheets have filled the table 7.HA.
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7 countries did not send back the methodological survey along with the statistical data.
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However, a very few number of countries have indicated a deviation between their definition and the standard definition of the new categories of households’ financial assets proposed by the OECD.
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10 countries have provided data for the sector 14 only while
11 countries have reported data for the aggregated sector
S14-S15 .
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Financial and Non Financial Assets of
Households – Table 7.HA (Cont.)
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Regarding the consolidation of data :
 7 countries sent consolidated data : CZE, DEU, HUN, NLD, NOR,
PRT, and SWE.
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11 countries sent non consolidated data : AUT, DNK, FIN, FRA, ITA,
JPN, KOR, SVK, ESP, TUR, and USA.
For Belgium, consolidated and non consolidated data are identical.
2 countries did not specify : CAN and POL.
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Most countries were able to provide 1995-2004 data as requested. Six countries have provided data or part of data until 2003 only: CZE, DEU, JPN, NOR, SVK and ESP
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Data for detailed assets are missing for a number of countries.
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Data on institutional investors had been collected and published for a number of years.
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The WPFS decided to pursue this activity and to integrate it in the framework of the Financial Accounts.
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Financial and Non Financial Assets of
Institutional Investors – Table 7.IA (Cont.)
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The table 7.IA replaces the former questionnaire on institutional investors. It includes a detailed breakdown by type of investors according to the SNA:
 Investment funds
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Open-end, of which Money market funds and Other mutual funds
Closed-end, of which Real estate funds
 Insurance companies and pension funds
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Insurance companies, of which life and non-life insurance companies
Autonomous pension funds
 Other forms of institutional savings
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Financial assets included in the table correspond to the assets requested in the previous questionnaire of institutional investors.
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Financial and Non Financial Assets of
Institutional Investors – Table 7.IA (Cont.)
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21 countries out of 28 which used to provide data on institutional investors have filled the table 7.IA.
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6 countries did not send back the methodological survey along with the statistical data.
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Deviations from the standard definitions should be specified in the joint methodological survey.
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Concerning the data on non financial assets :
 Half countries have provided data for the sector “Total
Investment funds”, but not for its sub-sectors
 15 countries have reported data for the sector “Insurance companies and pension funds” and its components.
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Financial and Non Financial Assets of
Institutional Investors – Table 7.IA (Cont.)
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For a number of countries, 2004 data were missing for all series (CZE, FIN and JPN) or part of them.
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For other countries, 2004 data were missing for a number of sectors and sub-sectors:
 BEL: S125
 DEU and NLD: Insurance companies, life and non life
 NOR: Investment funds and its sub-sectors
 POL: investment funds, S125 and its sub-sectors
 PRT: Insurance companies, life and non life, S125 and its subsectors
 ESP: Insurance companies and pension funds
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Comparison between data stored in the previous OECD Institutional Investors database and data provided in Table 7.IA
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Time coverage of the table 7.IA compared with the one of the previous Institutional Investors database :
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6 countries have provided the same coverage as before i.e.
1980-2004: BEL, CAN, DEU, KOR, NLD and USA
For 12 countries : AUT, CZE, DNK, FIN, FRA, GRC, ITA, NOR,
PRT, ESP, SWE and TUR: the time coverage is much shorter
1 country have reported data for a much longer period of time as previously (1980-2004 instead of 1990-2004) : JPN
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Sector coverage:
 For most countries : the sector coverage is larger
 Only a few countries have not sent data for some sub-sectors which were covered in the Institutional Investors database.
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 The OECD Secretariat would like to thank national experts and the WPFS Delegates for their contribution to these very useful data collection.
 The OECD Secretariat will study these data and contact the countries if questions arise or if additional statistical and methodological information is necessary.
 The OECD Secretariat will disseminate data on financial and non financial assets of households and institutional investors in the forthcoming months.