reports OFCdata to STA covering foreign financial institutions (offshore banks) only, representing 0.01 p er cent of total other depository corporations (ODC) assets in December 2018.
3. The mission assisted the BCU to develop standardized data for OFC using SRF 4SR, to close a key data gap . The inclusion of data for IC, PF, and CAC will allow: (i) the compilation of the financial corporations’ survey with expanded financial sector coverage in line with the MFSMCG and (ii) improved balance sheet analysis (BSA) by allowing inter-sectoral financial analysis and
inclusion of the OFCs—with more than 7.6 trillion pesos in total assets, a preliminary estimate, which represents around 25 percent of the total assets in the financial system—in the coverage of MFS will result in an improved integrated monetary database (IMD) . The IMD will be used for national publications and to release data to the IMF’s Asia Pacific Department (APD) and STA, ensuring consistency of the disseminated data. The BSP agreed to start disseminating the new OFCdata on a quarterly basis starting in September 2019, with historical series available since the
However, the last reported OFCdata are for December 2014. This delay in reporting is due to an
ongoing review of the SFC and efforts to map the former to the International Financial Reporting
Standards (IFRS). The classification of financial instruments and economic sectors follows the MFSM.
Financial Sector Surveillance: Colombia has reported Financial Soundness Indicators (FSI)
beginning from 2005 up to 2018. Colombia reports all (except one) core and all (except one)
encouraged Financial Soundness Indicators (FSI) for deposit takers on a regular monthly basis
This Technical Assistance report focuses on Philippines’s monetary and financial statistics (MFS). In order to align the coverage of the other depository corporations survey to statistical standards, the mission recommended the inclusion of the money market unit investment trust funds in the survey. With the compilation of other financial corporation’s data, the Philippines is now able to produce intersectoral balance sheet approach (BSA). MFS with full coverage, together with quarterly international investment position and public debt statistics, are the building blocks for the BSA. The mission recommended a detailed action plan with the following priority recommendations carrying weight to make headway in improving MFS quality and completeness. The experience by BSP compilers on data reporting by Securities and Exchange Commission supervised corporations pointed to a need to enhance the Bangko Sentral ng Pilipinas’s (BSP) authority to collect data for statistical purposes, which has been addressed by BSP management. Details on the priority recommendations and the related actions/milestones can be found in the action plan under Detailed Technical Assessment and Recommendations.
At the request of the Central Bank of Uruguay (BCU), and with the support of the International Monetary Fund’s (IMF’s) Western Hemisphere Department (WHD), a monetary and financial statistics (MFS) technical assistance (TA) mission from the IMF’s Statistics Department (STA) visited Montevideo during February 3-14, 2020. The main objectives of the mission were to: (i) review available source data for other financial corporations (OFC); in particular, insurance corporations (IC), pension funds (PF), and credit administration companies (CAC); and (ii) compile standardized monetary statistics for OFC (report form SRF 4SR) in line with the 2016 Monetary and Financial Statistics Manual and Compilation Guide (MFSMCG). The officials met during the mission are listed in Appendix I.
This Technical Assistance Report discusses the finalization of the development of standardized report forms (SRF) for other financial corporations (OFC). The mission held constructive discussions with Bank Al-Maghrib’s (BAM) staff on various other aspects of the compilation of monetary and financial statistics (MFS) aimed at improving the quality of the data. These discussions led to the preparation of a detailed action plan with the following priority recommendations carrying particular weight to make headway in improving MFS. The mission held constructive discussions with the staff of the Banking Supervision Department on the classification in the monetary statistics of the financial products offered by Islamic banks. The mission supported BAM proposal to develop a reporting form for the collection of bank source data on securities valuation. The mission made recommendations to improve the sectoring of the financial statements of finance companies and offshore banks.
In response to a request from the Reserve Bank of Zimbabwe (RBZ), and with the support of the International Monetary Fund’s (IMF’s) African Department (AFR), a monetary and financial statistics (MFS) technical assistance mission visited Harare, Zimbabwe, during October 16–27, 2017. The mission’s main objective was to assist the RBZ in finalizing its work of compiling MFS of the Central Bank (CB) and Other Depository Corporations (ODCs) in accordance with the Monetary and Financial Statistics Manual and Compilation Guide (MFSMCG). Compilation of these data will lead to the regular reporting of improved monetary data for publication in International Financial Statistics (IFS) and provide MFS data for use by the IMF African Department (AFR) and the Reserve Bank of Zimbabwe in their research and publications.