OECD Financial Dashboard Working Party on Financial Statistics

OECD Financial Dashboard Working Party on Financial Statistics 24 -25 October 2011 By Isabelle Ynesta STD Directorate, NAD Division, QNA&FS Section 1

Background The need for monitoring the financial activity and position of the various institutional sectors of OECD economies By using timely, frequent and comparable financial statistics 2010 WPFS meeting: the Secretariat proposed a limited set of macro-financial indicators for selected OECD countries 2011 WPFS meeting: presentation of the OECD Financial Dashboard which includes a more complete set of financial indicators for all OECD countries STD / NAD / QNA&FS 2

Structure of the financial dashboard Ø Table of contents indicating all financial indicators presented in the dashboard Ø Reader’s guide providing general methodological information Ø Two main parts including Ø Indicators derived from OECD countries’ financial accounts (transactions) Ø Indicators constructed from OECD countries’ financial balance sheets Ø A third part showing Ø A limited number of financial indicators based on national data of Enhanced Engagement countries – EE 5 (Brazil, China, India, Indonesia and South Africa) STD / NAD / QNA&FS 3

Reader’s Guide Ø All indicators presented in the dashboard are based on SNA definitions (GDP, GDI…) Ø Definition of debt in compliance with Ø The 2008 SNA definition Ø The IMF Public Sector Debt Statistics – Guide for compilers and users (AF 2+AF 33+AF 4+AF 6+AF 7); market value; gross debt Ø Time coverage Ø 1997 to 2010 whenever data are available Ø Sector coverage Ø All institutional sectors of the economy, including the total economy (S 1) STD / NAD / QNA&FS 4

Structure of the financial dashboard For each indicator, a two-page presentation is proposed: On the first page: Ø a detailed definition of the indicator Ø a brief explanation of what the indicator measures Ø the formula of the ratio with the SNA-related codes Ø the sources On the second page: Ø a table including the value of the indicator for all OECD countries over the last fourteen years Ø a graph presenting a selection of OECD countries and years STD / NAD / QNA&FS 5

Financial net worth of Households and NPISHs as a percentage of GDI Definition Ø Ø The financial net worth is the balancing item of the financial balance sheet (financial assets minus liabilities). This indicator measures the financial wealth of Households and NPISHs. Formula Ø (Financial net worth / Gross disposable income)*100 Ø Numerator: Financial net worth (BF 90) of Households and NPISHs (S 14+S 15), millions of national currency, at current prices Denominator: Gross disposable income of Households and NPISHs (S 14+S 15), millions of national currency, at current prices Ø Unit of measure Ø Percentage Sources Ø Ø Annual National Accounts, Table 720 - Financial Balance Sheets, non-consolidated, except for Australia and Israel (Table 710 – Financial Balance Sheets, consolidated) Annual National Accounts, Detailed non-financial accounts by sector, Secondary distribution of income account STD / NAD / QNA&FS 6

Financial net worth of Households and NPISHs as a percentage of GDI STD / NAD / QNA&FS 7

Financial net worth of Households and NPISHs as a percentage of GDI STD / NAD / QNA&FS 8

Next step Ø Expand the coverage of the dashboard by including Ø Mixed indicators such as gross debt to operating surplus, return on equity, households total wealth as % of GDI… Ø Indicators derived from institutional investors’ assets dataset Ø Indicators constructed from households’ assets and liabilities dataset Ø Calculate financial indicators on a quarterly frequency Ø Disseminate annual and quarterly financial indicators online on OECD. Stat Ø Quarterly press release STD / NAD / QNA&FS 9

Conclusions Delegates are invited to Ø Take note of the work carried out by the financial statistics unit in STD Ø Provide comments on the indicators presented in the dashboard Ø Express their views on future developments of the OECD Financial Dashboard STD / NAD / QNA&FS 10

Thank you very much for your attention and cooperation