Transcript FINANCIAL AND NON FINANCIAL ASSETS OF

A SET OF KEY FINANCIAL INDICATORS
Working Party on Financial Statistics meeting
Paris, 29 November - 1 December 2010
Isabelle YNESTA
National Accounts and Financial Statistics
OECD Statistics Directorate
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INTRODUCTION
 Importance of timely, frequent and comparable statistics.
 Transformation of basic data into meaningful indicators:
 To analyse the behaviour and performance of the various institutional
sectors of the economy;
 To carry out cross-country comparisons.
 The OECD Secretariat will construct these indicators from
financial accounts and financial balance sheets for all
OECD countries.
 The choice of such indicators will be guided by comments
received from WPFS delegates.
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BACKGROUND
 The need for timely, frequent and comparable indicators was
confirmed by the results of two OECD surveys:
 2008: user survey on financial accounts in the framework of a quality
review of OECD databases;
 2009: survey entitled “Proposal for financial indicators”.
 June 2010: CSTAT’s draft 2011-12 Programme of Work and
Budget includes a number of activities to increase the
timeliness and frequency of key financial statistics.
 October 2010: CMF Delegates confirmed the usefulness of more
frequent data.
 2010 WPFS meeting: the Secretariat proposes a set of macrofinancial indicators for a random selection of OECD countries.
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Financial indicators derived from
financial accounts (transactions)
 Financial accounts enable to draw useful indicators
which
 Give a picture of the short-term behaviour of institutional sectors
 Show reactions to market events
Examples of indicators:
 G7 – Net financial transactions of total economy, as a
percentage of gross domestic product (GDP).
 General government deficit, as a percentage of GDP.
 Households net financial transactions, as a percentage
of gross disposable income (GDI).
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Financial indicators derived from
financial balance sheets
 Financial balance sheets offer a number of meaningful
indicators which
 Measure the wealth of each institutional sectors
 Provide information on the sectoral or economy-wide position and
performance.
Examples of indicators:
 Contribution of each institutional sector to debt of the
economy in 2009, as a percentage of GDP.
 Non-financial corporations debt-to-equity ratio.
 Leverage of the banking sector, as a percentage of total
equity.
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Financial indicators derived from
financial balance sheets (Cont.)
 General government debt, as a percentage of GDP.
 Financial net worth of general government, as a
percentage of GDP.
 Households financial net worth, as a percentage of
GDI.
 Households total debt, as a percentage of GDI.
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Conclusions
 OECD financial indicators

Calculated by the Secretariat for all OECD countries.

Based on OECD financial accounts and financial balance
sheets databases.

Disseminated first on an annual basis, then on a quarterly
basis.
 With the aim of delivering useful, comparable and
relevant information to users and analysts.
 A first selection that can progressively be improved
and expanded.
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Conclusions (Cont.)
 The dissemination of these OECD financial indicators
is under discussion:

Either a separate publication.

Or an expanded and renamed version of “National Accounts at
a Glance”.
 Once quarterly data is available, a quarterly press
release is also envisaged, depending on countries’
coverage.
 All indicators along with the underlying data will be on
the OECD statistical website.
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Conclusions (Cont.)
 Delegates are invited to
 Discuss the relevance and the presentation of the
indicators shown in the document COM/STD/DAF(2010)12.
 Agree on their dissemination.
 The OECD Secretariat thanks the delegates and all
financial experts for their co-operation and
contributions to this project during the past year.
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THANK YOU FOR YOUR ATTENTION
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