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International Monetary Fund

structured timeline for the SDDS nonobservance procedures; (ii) including hyperlinks in the NSDPs to longer time series and more detailed data by end-2012; (iii) adding more structure and focus to the encouraged data category, Forward Looking Indicators (FLIs), with particular emphasis on specific FLIs; (iv) deleting the ARC flexibility options from the SDDS, after a transition period, by end-2017; (v) terminating the posting of the SDDS quarterly update on the Data Standards Bulletin Board (DSBB); and (vi) incorporating two data categories, sectoral balance sheets and

International Monetary Fund

, to maintain an NSDP, and to observe the metadata certification and monitoring requirements set forth in Sections III.2.2, III.2.3, and III.2.4, III.3.1, respectively. 4.2 Any deviations from the SDDS Plus undertakings set forth in this decision with regard to the specific areas described in the previous paragraph will be subject to the same nonobservance procedures applicable to SDDS subscribers as set forth in the SDDS decision. If the Executive Board decides to delete the adherent’s metadata from the DSBB in application of the SDDS nonobservance procedures in a

International Monetary Fund. Statistics Dept.

discussions between staff and the SDDS coordinator will start immediately after a deviation is detected and notified to the SDDS coordinator. Non-serious deviations are expected to be addressed through these technical discussions. Subject to Section III.5 of this decision, the SDDS coordinator will be notified by staff of the initiation of the SDDS nonobservance procedures if a deviation is considered by Fund staff as a serious deviation and it is not resolved through technical discussions mentioned above within three months from the date of notification to the SDDS

International Monetary Fund
This paper reports on developments in the Data Standards Initiatives since the Seventh Review of the Fund’s Data Standards Initiatives (December 2008), and presents proposals for further enhancing the SDDS, and for data categories for the new higher tier of the data standards, the SDDS Plus. The SDDS Plus is primarily intended for subscribers to the SDDS with systemically important financial sectors while contributing to address further the data gaps revealed in the global financial crisis. This new tier is designed to enhance and supplement the Fund’s Data Standards Initiatives and not to replace the SDDS.
International Monetary Fund

further enhancements to the SDDS and the establishment of a higher tier for the Data Standards Initiatives, the SDDS Plus. On enhancing the SDDS, the proposals include, among others, clarifying the timeline for the SDDS nonobservance procedure, adding hyperlinks to time series on the National Summary Data Pages (NSDPs), and incorporating two data categories on an encouraged basis. The paper proposes establishing the SDDS Plus, an additional tier of the Data Standards Initiative aimed at countries that have systemically important financial sectors. The SDDS Plus is a

International Monetary Fund
The Special Data Dissemination Standard Plus (SDDS Plus) was established in October 2012 to reinforce and supplement the Fund’s Data Standards Initiatives and assist Fund members who decide to adhere to the SDDS Plus with regard to the publication of comprehensive, timely, accessible, and reliable economic and financial statistical data in a world of continuing economic and financial integration. The SDDS Plus also requires adherents to disseminate metadata to promote public knowledge and understanding of their compilation practices with respect to the required data categories. Following consultations conducted between Fund staff and members’ authorities of potential adherents to the SDDS Plus, it appeared necessary to introduce certain modifications to the SDDS Plus legal framework to facilitate adherence. These modifications are consistent with views expressed by Executive Directors in informal discussions with staff, and entail (i) extending the timeliness of three data categories and (ii) maintaining consistency with the principle underlying the SDDS Plus framework under which subscribers may chose to adopt new methodologies or continue to follow older ones. The Executive Board approved, on a lapse-of-time basis, the proposed decision in the paper. The existing rules governing the SDDS Plus are superseded by the new SDDS Plus legal text.
International Monetary Fund. Statistics Dept.

the data disseminated under the SDDS in assessing their quality, the SDDS also prescribes the dissemination of deviations from internationally accepted statistical methodologies in the metadata. 4 Deviations should be specified in the relevant indicators of the metadata (i.e., information describing methodology) posted on the DSBB. In instances where a subscriber has not provided clear metadata on deviations from internationally accepted statistical methodologies, the SDDS nonobservance procedures would apply (see paragraph 10.6). 7.36 SDDS subscribers are also

International Monetary Fund. Statistics Dept.
The IMF Data Standards Initiatives enhance data transparency as a global public good. The Tenth Review updates the framework, in light of new data priorities, through a parsimonious and principles-based expansion of encouraged data categories covering selected aspects in the areas of public debt, macro-financial indicators, foreign exchange intervention, climate change-related policy, and gender- disaggregated labor market statistics. The Review also focuses on strengthening the monitoring of the first tier of the Data Standards Initiatives, the enhanced General Data Dissemination System (e-GDDS), and encouraging subscribers of the second tier, the Special Data Dissemination Standard (SDDS), to modernize data publication technology.
International Monetary Fund
In December 2008, the IMF Executive Board discussed the Seventh Review of Data Standards Initiatives, and Directors requested staff to return to the Board within about a year with a proposal for the inclusion of selected financial indicators in the Special Data Dissemination Standard (SDDS). This paper responds to the 2008 request taking into account recent developments. The recent financial crisis has heightened the need for policymakers, financial regulators and capital market participants to put in place conditions that would help prevent the occurrence of similar crises in the future. One of the areas identified by the international community as key in crises prevention is the availability of timely and more detailed financial data that could provide early warning signals of impending risks and vulnerabilities
International Monetary Fund

citations and deviations. Staff have also informed subscribers that in instances where, in staff’s judgment, a subscriber does not provide clear citations and metadata on deviations from internationally accepted statistical methodologies, the SDDS nonobservance procedures would apply. Metadata certification 47. The Board’s decision 29 to change the regular SDDS metadata certification from quarterly to annual that was taken at the Seventh Review was implemented by staff starting with 2009 . Accordingly, the SDDS legal text was amended to request SDDS subscribers to