Last Update: 21/11/2013




Дата канвертавання24.04.2016
Памер59.08 Kb.

Last Update: 21/11/2013

 

Greece: Analytical accounts of the banking sector











Contact persons:

 

 

Ms. Nicole Koliou


Money and Banking Statistics Section,

Statistics Department,

Bank of Greece,

Athens, Greece



 

Phone :

+30 210 3203845




Fax:

+30 210 3231752

 

Email:

Nkoliou@bankofgreece.gr



Ms. Eleni Starida


Other Financial Institutions Section,

Statistics Department,

Bank of Greece,

Athens, Greece






Phone :

+30 210 3203838




Fax:

+30 210 3231752




Email:

Estarida@bankofgreece.gr




A. The Data: Coverage, Periodicity, and Timeliness




Coverage characteristics



End-of-month outstanding balances, in millions of euro, as in the consolidated balance sheet covering all monetary financial institutions (MFIs) resident in Greece (i.e. the national central bank, commercial banks, specialized credit institutions, co-operative banks, and money market funds).
As Greece participates in EMU, the euro area residency criterion is applied. The data disseminated include:
(1) The following components of the monetary aggregates:

  1. - Overnight deposits

  2. - Deposits redeemable at notice of up to 3 months

  3. - Deposits with an agreed maturity of up to 2 years

  4. - Repurchase agreements

- Money market fund shares/units

- Debt securities issued with a maturity of up to 2 years

(2) Credit to the euro area general Government (i.e. central government, social security funds and local authorities), comprising loans granted to general government and debt securities issued by general government and held by MFIs net of central government liabilities vis-à-vis the MFIs.
(3) Credit (loans) granted to the private sector of the euro area (non-financial corporations, households, non-profit institutions serving households, and financial institutions other than MFIs).
(4) Net foreign position vis-à-vis non-residents of the euro area.
The residency criterion used is the euro area, to enable a comparison with the monetary aggregates of the euro area disseminated by the ECB.
The data are not seasonally adjusted.





Periodicity

Monthly




Timeliness

All data are released on the last business day of the month following the reference month.

Although there is an embargo on the release of national monetary data before the release of euro area monetary aggregates by the ECB, the embargo is not normally expected to delay the release of the national data beyond the timeliness prescribed by the SDDS. In the event of a delay in the release of euro area monetary aggregates that would affect the timeliness of release of national data, a notice will be added to the DSBB Advance Release Calendar for the affected month.









Access by the Public






Advance dissemination of release calendar



An advance release calendar which gives one-quarter-ahead notice of the precise release dates is disseminated on the IMF's DSBB website: (http://dsbb.imf.org/Applications/web/sddsctycatarclist/?strcode=GRC).

In addition, a quarter-ahead advance release calendar giving precise release dates is disseminated on the Bank of Greece's website (http://www.bankofgreece.gr) under the heading "Statistics / SDDS / Financial Sector / Advance Release Calendar."





Simultaneous release to all interested parties

The data are released simultaneously to all interested parties, on the Bank of Greece’s website (http://www.bankofgreece.gr) under the heading: "Statistics / SDDS / Financial Sector / Data."




Integrity



Dissemination of terms and conditions under which official statistics are produced, including those relating to the confidentiality of individually identifiable information





The Bank of Greece (BoG) is an independent institution and, as of 1 January 2001, a member of the Eurosystem, which consists of the European Central Bank (ECB) and the national central banks (NCBs) of the euro area Member States.

The Statute of the Bank of Greece, which has the force of law, was amended by Laws 2548/97, 2609/98 and 2832/00 to meet the requirements of the Treaty on European Union. The Statute of the BoG is available in English or in Greek on the BoG website (http://www.bankofgreece.gr) under the heading "The Bank / Legal Framework / Statute of the Bank" or can be obtained, free of charge, upon request from: Bank of Greece, Public Relations Department - 21, E. Venizelos Avenue, Athens, 102 50 - Greece.

All statistics are collected, compiled and published in compliance with Article 55C of the Statute of the BoG. This article guarantees confidentiality with regard to individual data and requires that data be disseminated in a manner that prevents identification of individual persons or entities (public or private). Moreover, the employees of the BoG are bound by professional secrecy for all their actions.

The collection of data by the Bank of Greece in order to fulfill the statistical requirements of the European System of Central Banks (ESCB) is laid down in EU legislation (Council Regulation (EC) No. 2533/98 of 23 November 1998; confidentiality regime in Article 8). The requirements of the ESCB are further specified in Regulation (EC) No. 25/2009 of the European Central Bank of 19 December 2008 concerning the balance sheet of the monetary financial institutions sector, (Recast) (ECB/2008/32), as amended. The Regulation was published in the Official Journal of the European Communities on 20.1.2009. It can be obtained from the Office for Official Publications of the European Communities, L-2985 Luxembourg; (info@opoce.cec.be). The Official Journal is published in all the official languages of the EU.

The data are disseminated by the BoG as a service to the public.





Identification of internal government access to data before release

No government officials have access to the data before their release to the public.




Identification of ministerial commentary on the occasion of statistical releases

No ministerial commentary is attached to the release of the data.




Provision of information about revision and advance notice of major changes in methodology

Data released are final, with occasional minor revisions. In cases of changes in definitions or reclassifications, data may be revised over a longer time period. Such revisions are discussed in the introduction of the Monthly Bulletin of Conjunctural Indicators.

Major changes in methodology are explained contemporaneously with the release of the affected data in the Monthly Bulletin of Conjunctural Indicators, accessible free of charge on the BoG website at



(http://www.bankofgreece.gr/Pages/en/Publications/) .




Quality




Dissemination of documentation on methodology and sources used in preparing statistics

The instructions for completing the Other Monetary Financial Institutions (OMFIs) report provide extensive information on the concepts, definitions and methodologies used in the compilation of Greek money and banking statistics. These instructions are included in Bank of Greece Governor’s Act No. 2623/12.2.2010. Further details on methodology are available in the following ECB documents:

1. Regulation (EC) No. 25/2009 of the European Central Bank of 19th December 2008, concerning the balance sheet of the monetary financial institutions sector (ECB/2008/32), as amended.

2. List of Monetary Financial Institutions for statistical purposes; ECB website (http://www.ecb.int, Home > Statistics > Monetary and financial statistics > Lists of financial institutions).

3. Guideline of the European Central Bank of 1 August 2007 on monetary, financial institutions and markets statistics (recast) – ECB/2007/9

4. Manual on MFI Balance Sheet Statistics; ECB, April 2012.
The documentation published by the ECB is available on its website (http://www.ecb.int).




Dissemination of component detail, reconciliations with related data, and statistical frameworks that support statistical cross-checks and provide assurance of reasonableness


The Bank of Greece publishes the Monthly Bulletin of Conjunctural Indicators, available on its website (http://www.bankofgreece.gr/Pages/en/Publications/), which provides details on the components of the monetary aggregates as well as detailed accounts of the consolidated balance sheet of the banking sector (Table IV.8.), OMFIs (Table IV.7.) and the Bank of Greece (Table IV.6.), which allow cross-checking to assess consistency.






Data Category Notes: Supplemental metadata referring to euro area-wide aggregates prepared by the ECB can be accessed by clicking (http://dsbb.imf.org/Applications/web/euronote/).

It should be noted that the dissemination of these euro area pages does not constitute an obligation on the part of the ECB under the SDDS, but is instead intended to enable the national central banks of the euro area Member States to complement the information on their national statistics that they already disseminate as SDDS subscribers.










B. Summary Methodology




  1. Analytical Framework, Concepts, Definitions and Classifications




  • Analytical Framework: Data are derived from the statistical balance sheet of all monetary financial institutions (MFIs) resident in Greece (BoG, credit institutions and money market funds). For MFIs, see explanation under the heading 'classification'.

  • Residency criterion: Euro area.

Data are based on the ECB requirements as laid down in Regulation (EC) No. 25/2009 of the European Central Bank concerning the balance sheet of the monetary financial institutions sector (ECB/2008/32).

The balance sheet data are provided on a monthly basis.


The classification of institutional sectors is based on ESA 95 (clarified in greater detail in the ECB publication “Monetary, Financial Institutions and Markets Statistics Sector Manual. Guidance for the Statistical Classification of Customers. Third Edition 2007”).
The main items on the asset side are: Loans to euro area residents (general government, other euro area residents), securities (other than shares) issued by euro area residents (general government, other euro area residents), shares issued by euro area residents, claims on non-euro area residents, fixed assets, financial derivatives, accrued interest on loans, other assets and balance sheet total. On the liabilities side the main items are: Deposits of euro area central government, deposits and repos of euro area residents (other than central government), money market fund shares/units, debt securities issued with a maturity of up to 2 years, liabilities to non-euro area residents, capital and reserves, financial derivatives, accrued interest on deposits, other liabilities of which currency in circulation.
Monetary financial institutions are presented in the List of Monetary Financial Institutions for statistical purposes, ECB website. (http://www.ecb.int, Home > Statistics > Monetary and financial statistics > Lists of financial institutions).
MFIs comprise three groups of institutions:

- the ECB and the national central banks (NCBs);

- resident credit institutions (CIs) as defined in EU law; and

- all other resident financial institutions whose business is to receive deposits and/or close substitutes for deposits from entities other than MFIs and, for their own account (at least in economic terms), to grant credit and/or to invest in securities. The latter group consists predominantly in money market funds (MMFs).

The national residency criterion is based on the Fifth Edition of the Balance of Payments Manual, published by the IMF.



  • Definition of the euro area monetary aggregate M3 (published by the ECB):

M3 includes the following liabilities of the money-issuing sector held by the money-holding sector:

  1. Currency in circulation (notes and coin held by the public);

  2. Overnight deposits;

  3. Deposits with an agreed maturity of up to 2 years;

  4. Deposits redeemable at notice of up to 3 months;

  5. Repurchase agreements;

  6. Money market fund shares/units; and

  7. Debt securities with an original maturity of up to 2 years.

The money-issuing sector consists of MFIs resident in the euro area.

The money-holding sector comprises all non-MFIs resident in the euro area except central government.

The money-neutral sector comprises central governments in the euro area.


  • Euro area: The area encompasses those Member States which have adopted the euro as the single currency in accordance with the Treaty and in which a single monetary policy is conducted under the responsibility of the relevant decision-making bodies of the ECB. The euro area comprises Belgium, Germany, Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland from 1.1.1999, Greece from 1.1.2001, Slovenia from 1.1.2007, Cyprus and Malta from 1.1.2008, Slovenia from 1.1.2009 and Estonia from 1.1.2011. For money and banking statistics purposes, the euro area includes also the ECB.



  1. Scope of the Data

  • Institutional coverage: Financial institutions which report money and banking data to the ESCB are monetary financial institutions according to the "List of MFIs for statistical purposes" (see I above).

The data reported include all operations performed within the Greek territory by institutions incorporated in Greece irrespective of their legal type or the nationality of their owners. Greek branches of foreign MFIs are covered, whereas foreign branches of Greek MFIs are not included.

MFIs must submit statistical information to the BoG as soon as they commence activities and up to the time they cease operations.



  1. Accounting Conventions

  • Valuation methods: Market prices for holdings of securities, shares and other equity. Deposits, loans and debt securities issued are valued at nominal value.

All foreign-currency-denominated items are converted into euro using the end-of-month exchange rates.

  • Time of recording: Assets and liabilities are recorded on a cash (or settlement) basis in the balance sheet.

In accordance with the general principle of accrual accounting, interest paid on deposits or earned on loans is subject to on-balance-sheet recording as it accrues (i.e. on an accruals basis).

  • Maturity criterion: The original agreed maturity.




  1. Nature of the Basic Data Sources

  • Data sources for the central bank: Data for the national central bank (BoG) are derived from the month-end balance sheet compiled for statistical purposes.

  • Data sources for the other banks: Data for Other Monetary Financial Institutions (OMFIs) are derived through statistical reporting forms according to a template provided by the BoG, and are fully compatible with the ECB’s requirements for money and banking statistics.



  1. Compilation Practices

  • Estimation/sampling: None. Data collection is based on census of the entire MFI population.

  • Statistical adjustments: OMFIs transmit their reports to the BoG using software provided by the Bank, which has a built-in module that performs a vast number of coherence tests.

  • Data verification: Data are checked for arithmetic errors and internal consistency and they are compared with preceding data and with the central bank’s accounting data.



  1. Other Aspects

  • Seasonal adjustment: Seasonal adjustments are not used.




C. Dissemination Formats


Hard Copy
( ) News release:

( ) Weekly bulletin:

( x ) Monthly bulletin:

The Monthly Bulletin of Conjunctural Indicators is available, free of charge, to subscribers at: Bank of Greece, Economic Research Department - Secretariat, 21, E. Venizelos Avenue, Athens - 102 50 - Greece. Tel: 0030 210 320 2392 Fax: 0030 210 323 3025. It is also accessible free of charge on the BoG website at (http://www.bankofgreece.gr/ Pages/el/Publications /).

( ) Quarterly bulletin:

( ) Other:


Electronic
( x ) Online country bulletin board or database

Internet Address of the Bank of Greece: http://www.bankofgreece.gr/Pages/en/Statistics/sdds.aspx under the heading "Statistics", with the title "SDDS / Financial Sector / Data."

Internet site of the Hellenic Statistical Authority: http://elstat.statistics.gr/SDDS/users_gr.asp

( ) Diskette:

( ) CD ROM

() Other:







База данных защищена авторским правом ©shkola.of.by 2016
звярнуцца да адміністрацыі

    Галоўная старонка