ECCBSO, a tool for the analysis of Non-financial corporations CONTENT: 1. A global world: increasing need of microdata to understand it

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1 European Central Balance Sheet Data Offices (), a tool for the analysis of the non-financial sector of the economy (from individual to consolidated accounts) Workshop on Integrated Management of Micro-databases Porto, 0/ June 0 Manuel Ortega Chairman, Head of CBSO. Banco de España STATISTICS DEPARTMENT CENTRAL BALANCE SHEET DATA OFFICE, a tool for the analysis of Non-financial corporations CONTENT:. A global world: increasing need of microdata to understand it. How the cake is cut?. European CBSO: a source of direct data from NFC 4. Globalization: the need to use individual and consolidated accounts

2 . A global world: increasing need of microdata And the diversity aswell! We have to know the population We need to know the singularities And, yes: nationality still is important. How the cake is cut? National Accounts and Financial Accounts are not enough Need of direct sources of contrast Key performance indicators of NFC: an increasing demand But taking care of the reporting burden: use of business accounting What about harmonization?: IFRS as solution Need of more microdata, to know how the cake is cut and who eats it

3 . European CBSO: a source of direct data from NFC PRESENTATION European Committee of Central Balance-Sheet Data Offices The European Committee of Central Balance-Sheet Data Offices () is an informal body whose members consist of experts either from the Central Balance-SheetDataOfficesbelongingto or associatedwiththe NationalCentralBanks(NCB) of the EuropeanCommunity,or fromnationalstatisticalinstitutes. The main task of the is to improve the analysis of Non-financial corporate enterprises data through the exchange of information and joint studies, on the basis of the work carried out by the national central balance-sheet data offices which collect, store and diffuse descriptive and accounting firm data, and starting fromthese information,theydevelopeconomicandfinancialresearch. Thestructureofthe isthefollowing: European Committee of Central Balance-Sheet Data Offices CHAIRMAINSHIP BANCO DE ESPAÑA (from November 00 until November 0) PERMANENT OBSERVERS European Commission MEMBERS Banca d'italia Banco de Portugal Banco de España Bank ofengland Bank ofgreece Banque de France Banque Nationalede Belgique NationaleBank van België Central Bank of Ireland Cerved Groupspa - Centraledei Bilanci CzechNationalBank DanmarksNationalBank Deutsche Bundesbank European Central Bank NationalBank of Poland NationalBank ofromania NationalBank ofslovakia National Bank ofslovenia OesterreichischeNationalbank STATEC Luxembourg StatisticsFinland Statistics Netherlands StatisticsSweden StatisticsDenmark OBSERVERS IFRS Foundation REPORT 0 Products and Services of the European CBSOs April 0. European CBSO: a source of direct data from NFC What is a Central Balance Sheet Database?: Raw data collection of accounting data Databases with microdata Directly obtained from non financial corporations Based in their normal language: accounting data Accounting data: individual accounts / consolidated accounts Different periodicity and timeliness (annual/quarterly, others) Used with different purposes: statistics, risk assessment, others To know more: Products and services of the European CBSOs BACH database (aggregated data and statistical distributions, of individual accounts) ERICA database: results of listed European groups Profitability, equity capitalization and Net worth at risk Risk assessment working group 6

4 . European CBSO: a source of direct data from NFC CBSOs DATABASES European Committee of Central Balance-Sheet Data Offices BOX DATABASES BY PERIODICITY AND ACCOUNTS CONSOLIDATION Annual Indiv Annual Cons Annual Indiv & Cons Quarterly Indiv Quarterly Cons Quarterly Indiv & Cons Semi-annual Indiv Semi-annual Cons Other REPORT 0 Products and Services of the European CBSOs April Globalization: the need to use individual and consolidated accounts All European CBSO: From the outset, individual accounts databases / Some countries also created consolidated accounts databases 0 years ago, for risk assessment Globalisation and groups pose a challenge to statisticians: consolidated accounts are more necessary Individual Accounts necessary for: Aggregates by sector of activity Analysis with common samples (without changes in the perimeter of consolidation): growth rate of activity or net profit Consolidated Accounts necessary for: Debt Analysis, solvency and risk assessment A new approach is required: Individual data, aggregated and adjusted with intragroup operations (to avoid the double accounting) Use of both databases, individual and consolidated financial statements Demand of truncated consolidated accounts: please, using the law! 8 4

5 4. Globalization: the need to use individual and consolidated accounts Map of possible uses of individual and consolidated accounts National accounts Monetary policy Bank supervision Economic analysis Economic analysis Risk assessment trends structures Research Other statistics Financial stability panel data Individual accounts Aggregated Individual Consolidated accounts Same scope Dif. scope Truncated Source: IIIWG on IFRS impact and CBSO databases. COMMENTS? STATISTICS DEPARTMENT 5