ECCBSO European Committee of Central Balance Sheet Data Offices

Transcription

1 REPORT 03 PRODUCTS AND SERVICES OF THE EUROPEAN CBSOs APRIL 03

2 EUROPEAN COMMITTEE OF CENTRAL BALANCE SHEET DATA OFFICES APRIL 03 Banca d Italia Banca Naţională a României Banka Slovenije Banco de España Banco de Portugal Bank of England Banque de France Banque Nationale de Belgique Central Bank of Ireland Centraal Bureau voor de Statistiek - Netherlands Cerved Group spa Centrale dei Bilanci Česká Národní banka Danmarks Statistik Danmarks NationalBank Deutsche Bundesbank European Central Bank Národná banka Slovenska Narodowy Bank Polski Oesterreichischen Nationalbank STATEC Luxembourg Statistiska centralbyråns - Sweden Tilastokeskus - Statistikcentralen Τράπεζα της Ελλάδος

3 EUROPEAN COMMITTEE OF CENTRAL BALANCE SHEET DATA OFFICES report INDEX. PRESENTATION. QUESTIONNAIRE APPROACH 3. EUROPEAN CBSOs 3. CHARACTERIZATION OF CBSOs 3. CBSOs DATABASES 3.3 CBSOs PRODUCTS AND SERVICES (P&S) 3.4 FUTURE CBSOs PRODUCTS AND SERVICES (P&S) 3.5 SUMMARY 3

4 EUROPEAN COMMITTEE OF CENTRAL BALANCE SHEET DATA OFFICES report INDEX. PRESENTATION. QUESTIONNAIRE APPROACH 3. EUROPEAN CBSOs 3. CHARACTERIZATION OF CBSOs 3. CBSOs DATABASES 3.3 CBSOs PRODUCTS AND SERVICES (P&S) 3.4 FUTURE CBSOs PRODUCTS AND SERVICES (P&S) 3.5 SUMMARY 4

5 PRESENTATION The () is an informal body whose members consist of experts either from the Central Balance Sheet belonging to or associated with the National Central Banks (NCB) of the European Community, or from National Statistical Institutes. The main task of the is to improve the analysis of Non financial corporate enterprises data through the exchange of information and joint studies, onthe basis of the work carried out by the national central balance sheet data offices which collect, storeand diffuse descriptive and accounting firm data, and starting fromthese information, they develop economic and financial research. The structure of the is the following: CHAIRMAINSHIP BANCO DE ESPAÑA (from November 00 until November 03) PERMANENT OBSERVERS European Commission MEMBERS Banca d'italia Banco de Portugal Banco de España Bank of England Bank of Greece Banque de France Banque Nationale de Belgique Nationale Bank van België Central Bank of Ireland Cerved Group spa Centrale dei Bilanci Czech National Bank Danmarks NationalBank Deutsche Bundesbank European Central Bank National Bank of Poland National Bank of Romania National Bank of Slovakia National Bank of Slovenia Oesterreichische h Nationalbank k STATEC Luxembourg Statistics i Finland Statistics i Netherlands Statistics Sweden Statistics Denmark OBSERVERS IFRS Foundation 5 REPORT 03 Products and Services of the European CBSOs April 03

6 PRESENTATION European ropeancommittee of Central Balance Sheet france.fr/?lang=en banque fr/?lang=en The () is responsible for the development and management of a database named Bank for Accounts of Companies Harmonized (BACH). BACH (harmonized annual accounts indicators; aggregated data) twelve European countries at least 0 financial years (from 000 onwards) 67 major items for the balance sheet and the profit and loss account 3 economic and financial ratios business sectors according to NACE rev. divisions ( digits) fourdifferent size classes (definedaccording to the turnover) (related metadata) 6 REPORT 03 Products and Services of the European CBSOs April 03

7 PRESENTATION European ropeancommittee of Central Balance Sheet The () has created four working groups: namely RISK ASSESSMENT WORKING GROUP, BACH WORKING GROUP, III WORKING GROUP ON IFRS IMPACT AND CBSO DATABASES and STUDY GROUP. RISK ASSESSMENT WG The Risk Assessment Working Group was set up in order to draw up the so called White Paper on corporate analysis in Europe and to draft reports on the analysis of stocks and flows conducted in the various central balance sheet data offices. The group then expanded its project and its members have been working in cooperation with the related divisions of the European Central Bank, homogenizing the risk analysis. BACH WG The BACH Working Group is in charge of developing and improving the European statistical database BACH (Bank for the Accounts of Companies Harmonized). This database provides comparable sectoral statistics from annual accounts of non financial incorporated companies of a number of European countries. III WG ON IFRS IMPACT AND CBSO DATABASES The III Working Group primarily focuses on the impact of the International Financial Reporting Standards (IFRS), issued by the IASB, on the accountancy of non financial corporations and their effects on the European central balance sheet data offices databases and questionnaires, trying to assess both potential opportunities and risks. STUDY GROUP The Study Group focuses mainly on the analysis of equity capitalization in an international setting. It has already produced four studies. Currently, the group is doing research on trade credits. 7 REPORT 03 Products and Services of the European CBSOs April 03

8 PRESENTATION European ropeancommittee of Central Balance Sheet Several publications have been prepared based on the work performed within the. Several economic studies have beenmadebasedonbachand BACH database. BACH WG The research of the Working Group on Risk Assessment is dedicated to credit risk modeling and measurement. RISK ASSESSMENT WG III WG ON IFRS IMPACT AND CBSO DATABASE The Group has developed IFRScompliant standard formats (using the IFRS Taxonomy) and created European Consolidated Accounts databases (ERICA and ). The latest research paper was published in January 03 and deals with companies reaction to the financial crisis in main financial key ratios. STUDY GROUP 8 REPORT 03 Products and Services of the European CBSOs April 03

9 EUROPEAN COMMITTEE OF CENTRAL BALANCE SHEET DATA OFFICES report INDEX. PRESENTATION. QUESTIONNAIRE APPROACH 3. EUROPEAN CBSOs 3. CHARACTERIZATION OF CBSOs 3. CBSOs DATABASES 3.3 CBSOs PRODUCTS AND SERVICES (P&S) 3.4 FUTURE CBSOs PRODUCTS AND SERVICES (P&S) 3.5 SUMMARY 9

10 QUESTIONNAIRE APPROACH The strength of the Committee lies in the different goals and work methods employed in each national central balance sheet data office: although all them have in common the use of accounting data for different purposes, the goals achieved by each institution, and the products and services offered by them, are quite diverse. This allows the different working groups of the to cover a vast scope of matters. Although the website of the Committee diffuses widely the works done by the s working groups, it seems convenient to include also some explanatory remarks about the tasks developed by each member. This Report aims to take stock of the products and services currently developed, and/ or under development in the different Central Balance Sheet members of it. To that aim, it was developed in 0 a questionnaire to acknowledge the different work done across Europe. The questionnaire comprises five parts: General Information, Raw data, Products and Services (P&S), Future P&S and Summary Table. The currently 03 version is meant to be an updated version of that Report. QUESTIONNAIRE STRUCTURE PART I PART II GENERAL NFORMATION RAW DATA Global characterization of each CBSO Characteristics of CBSO data sources PART III PART IV PART V P&S FUTURE P&S SUMMARY TABLE Main features of each product and service currently provided by every CBSO General characteristics of new CBSO data sources and CBSO products and services A summary of the answers 0 REPORT 03 Products and Services of the European CBSOs April 03

11 QUESTIONNAIRE APPROACH The questionnaire was sent in January 03 to the 0 respondents (plus Finland): 7 entities, on total. As in 0, the large majority of the members is covered by the 03 release of the Report (77%). Individual answers are provided in the Annex (Excel file). Spain Sweden UK Austria Belgium Czech Rep. Denmark k(ncb) Slovenia Finland Slovakia France Romania Germany Portugal Poland Netherlands Luxembourg Italy ( entities: NCB and CERVED) Ireland* Greece Covered by this Report Not covered by this Report *Bank of Ireland has answered to this Questionnaire in 0. However, it was not considered in both releases of the Report (0 and 03), because it does not run a genuine Central Balance Sheet database. REPORT 03 Products and Services of the European CBSOs April 03

12 EUROPEAN COMMITTEE OF CENTRAL BALANCE SHEET DATA OFFICES report INDEX. PRESENTATION. QUESTIONNAIRE APPROACH 3. EUROPEAN CBSOs 3. CHARACTERIZATION OF CBSOs 3. CBSOs DATABASES 3.3 CBSOs PRODUCTS AND SERVICES (P&S) 3.4 FUTURE CBSOs PRODUCTS AND SERVICES (P&S) 3.5 SUMMARY

13 CHARACTERIZATION OF CBSOs The major part of the European Central Balance Sheet (CBSO) are installed in National Central Banks (G). From our sample, a significant part of the CBSOs that belong to National Central Banks (NCBs) are directly associated with the statistical function (G). CBSOs belonging to other type of institutions have the following main tasks: analysis/ research (), statistics (National Statistical Institutes) and risk assessment/ rating (private company). It is somewhat important to bear in mind that the questionnaire was delivered to members, which are mainly constituted by National Central Banks. However, according to the results of this questionnaire: National Statistical Institutes play an important role in: Czech Republic and Poland; and, Private companies are important in Denmark and Italy. G TYPE OF INSTITUTION G MAIN OBJECTIVE OF THE CBSOs IN NCBs 3 Supervision Publication of micro data Fin. Stability National Central Bank National Statistical Institute Private Company Risk Assessment/Rating Statistics 3 7 NB: two different entities were considered for Italy (NCB and private company). NB: In Germany CBSO database is managed by two different Departments with two different objectives. For that reason, for this country it was considered two main objectives. 3 REPORT 03 Products and Services of the European CBSOs April 03

14 EUROPEAN COMMITTEE OF CENTRAL BALANCE SHEET DATA OFFICES report INDEX. PRESENTATION. QUESTIONNAIRE APPROACH 3. EUROPEAN CBSOs 3. CHARACTERIZATION OF CBSOs 3. CBSOs DATABASES 3.3 CBSOs PRODUCTS AND SERVICES (P&S) 3.4 FUTURE CBSOs PRODUCTS AND SERVICES (P&S) 3.5 SUMMARY 4

15 CBSOs DATABASES Knowledge of the data sources is the basis of any analysis or statistics. Not only the type that each one of the databases has, but also the interest and usability (measured, for instance, in terms of the representativeness of the data). Among the fifteen countries that have answered to this questionnaire, it was encountered 50 databases directly linked to the CBSOs, which in average represents 3 databases per country. In general, the major part of the databases under the supervision of CBSOs are possible to be agglomerated by periodicity/ accounting consolidation: Annual accounts (individual/ consolidated accounts), Quarterly accounts (individual/ consolidated accounts), Semi annual accounts (individual/ consolidated d accounts) t) and Other (Descriptive dtb databases, Business Register and Central lcreditregister). G3 NUMBER OF DATABASES BY PERIODICITY AND ACCOUNTS CONSOLIDATION Semi annual Individual Consolidated In terms of periodicity of raw data, a significant part concern annual data (G3); 3 out of 50 data sources. It seems that all countries have at least annual data, although in Romania this data is based on semi annual data accounts. Quarterly 5 Individual & Consolidated In terms of whether the sources incorporate individual accounts or/and consolidated accounts, it seems clear from the graph that individual Annual accounts are most common in European CBSO databases; 5 out of 50 data sources. Other 8 The major part of quarterly data concerns individual data; 5 out of 8 data sources. Note: Other refers to Descriptive databases, Business Register and Central Credit Register For more information, see BOX. REPORT 03 Products and Services of the European CBSOs April 03 5

16 CBSOs DATABASES Regarding the Other databases Descriptive databases, Business Register and Central Credit Register only 4 National CBSO (Finland, France, Italy and Portugal) have some under its own responsibility (G4). In this field, there is a particular interest on Business Registers. G4 DESCRIPTIVE DATABASES, BUSINESS REGISTER AND CENTRAL CREDIT REGISTER Business Register Central Credit Register Descriptive database Finland France Italy Portugal Central Credit Register: database that records information related to loans granted by credit institutions to companies; Descriptive database: database with complementary information about companies; for example, extraordinary events like M&A, group structures; Business Register: database concerning the Non Financial Corporations population; it includes general characteristics of each corporation, like the sector of activity, date of birth, size class. 6 REPORT 03 Products and Services of the European CBSOs April 03

17 CBSOs DATABASES BOX DATABASES BY PERIODICITY AND ACCOUNTS CONSOLIDATION Annual Indiv Annual Cons 3 Annual Indiv & Cons Quarterly Indiv Quarterly Cons Quarterly Indiv & Cons Semi annual Indiv Semi annual Cons 3 Other 7 REPORT 03 Products and Services of the European CBSOs April 03

18 CBSOs DATABASES G5 NUMBER OF DATABASES BY SOURCE Data are mainly obtained directly by CBSOs from both Administrative data and Statistical surveys; 30 out of 4 databases. It is important to notice that 0 of this 5 Administrative data are related to sources with annual data (individual d accounts). Statistical surveys are used lk likewise for annual and quarterly data (individual accounts). Administrative data, Statistical surveys and Official financial reporting explain 88% of the sources of the CBSOs databases. Official financial accounts; 7% Tax returns; 5% Statistical survey; 36% Multiple sources; 5% Search; % Administrative data; 36% Note: Descriptive databases, Business Register and Central Credit Register are not considered in this analysis. Multiple sources Tax returns Official financial accounts Statistical survey Administrative data ANNUAL DATA Individual Consolidated Individual & Consolidated QUARTERLY DATA SEMI ANNUAL DATA INDIVIDUAL: 5 Statistical survey; CONSOLIDATED: Official financial accounts; INDIVIDUAL & CONSOLIDATED: Statistical survey and Official financial accounts INDIVIDUAL: Administrative data; CONSOLIDATED: Official financial accounts and obtained by searching on the internet 8 REPORT 03 Products and Services of the European CBSOs April 03

19 CBSOs DATABASES G6 NUMBER OF RAW DATA BY LEGAL BASIS 69% of the raw data are mandatory; Voluntary; 3% 3% are obtained on a voluntary basis. Mandatory; 69% INDIVIDUAL CONSOLIDATED IND & CONS ANNUAL ACCOUNTS Mandatory Voluntary QUARTERLY ACCOUNTS 4 Note: All 3 Semi annual databases are mandatory. 9 REPORT 03 Products and Services of the European CBSOs April 03

20 CBSOs DATABASES FAST FACTS ABOUT EUROPEAN CBSOs (I) T RESPONSABILITY FOR COLLECTING RAW DATA Info AVAILABILITY OF RAW DATA 48% oftherawdataiscollecteddirectlybythecbsos (40%) or by other NCBs internal Departments t (Statistics) ti ti (8%). Et External conduction of dt data collection (40%) refers to, among others, private companies, Ministry of Finance and National Statistical Offices. 68% of databases have started before 005. Among the remaining databases it is important to mention the caseof Luxembourg that has started in 0. DATASOURCE RESPONSIBLE % CBSO 40 EXTERNAL 40 Info RAW DATA BY MAIN CONTENTS SHARED INTERNAL EXTERNAL 8 INTERNAL STATISTICS 8 CBSO & EXTERNAL 4 In this sense, 6 of the raw data has some external component (shared or not shared); 77% of the external entities involved are Public. For more detail see BOX. 95% of databases have at least information about Balance sheet (BS) and Income Statement (IS). The remaining 5% have at least BS. It is important to notice that databases have a huge variety of additional information like cash flow statements, accounting details, notes, default data and others. 0 REPORT 03 Products and Services of the European CBSOs April 03

21 CBSOs DATABASES BOX RESPONSABILITY FOR DATA COLLECTION PER PERIODICITY AND ACCOUNTS CONSOLIDATION CBSO & External Internal Statistics Shared Internal External External CBSO Indiv Cons Indiv & Cons Indiv Cons Indiv & Cons Indiv Cons Business Register Central Credit Register Descriptive Database Annual Quarterly Semi annual Others REPORT 03 Products and Services of the European CBSOs April 03

22 CBSOs DATABASES FAST FACTS ABOUT EUROPEAN CBSOs (II) Info DATABASES BY ACCOUNTING BASIS Info DATABASES BY COVERAGE 57% oftherawdataisofnational GAAP nature. The other half is divided in 54% of databases correspond to a subset of corporations. While 4% raw data based on either National GAAP and IFRS (7%), solely l IFRS (%) and concern full coverage of the NFC(Non Financial Corporations) population and a combination between IFRS and ESA standards (5%). National GAAP is the 4% to a statistical sample. It is important to see that more than half of the accounting basis for the majority of individual data while consolidated accounts databases related to NFC population corresponds to databases of Annual are mostly denominated in IFRS. accounts. % 7% 7% G7 DATABASES BY SAMPLE BIAS 80% 8% 55% 33% 33% 56% of the CBSO samples have a bias. The foundation is mainly explained by biasness towards larger size classes (96%). Such biases are mainly present in the databases with individual accounts. See BOX 3 for more. 8% 7% Individual Consolidated Individual & Consolidated IFRS IFRS+ ESA National GAAP National GAAP & IFRS Biased; 56% Not biased; 44% REPORT 03 Products and Services of the European CBSOs April 03

23 CBSOs DATABASES FAST FACTS ABOUT EUROPEAN CBSOs (II) BOX 3 SAMPLE BIAS BY ACCOUNTS CONSOLIDATION G8 DATABASES BY BREAK IN TIME SERIES 5% of databases does not have any break in time series. Of databases that 7% have started before 005, 53% have break in time series. 68% 83% YES; 48% NO; 5% 73% 3% 7% Individual & Consolidated 67% 33% Individual Consolidated Individual & Consolidated Consolidated 45% 55% NO YES Individual 48% 5% NO YES 3 REPORT 03 Products and Services of the European CBSOs April 03

24 CBSOs DATABASES G9 AVAILABILITY OF RAW DATA IN EUROPEAN CBSOs DE INDIVIDUAL ACCOUTNS CONSOLIDATED ACCOUNTS INDIVIDUAL & CONSOLIDATED ACCOUNTS DESCRIPTIVE DATABASES, BUSINESS REGISTER, CENTRAL CREDIT REGISTER IT IT FR DE AT BE ES BE FR FR FR ES PT PT IT FI SI PL PL ES DK FI IT DE FR PT FI ITSI IT RO PT CZ DE SK AT CZ SI PT PT FI DE FI AT IT ES ES LU SI FR AT 4 REPORT 03 Products and Services of the European CBSOs April 03

25 CBSOs DATABASES BOX 4 AVAILABILITY OF RAW DATA IN EUROPEAN CBSOs IT INDIVIDUAL ACCOUNTS ES BE AT FR PT ES ES FI IT SI PL PL DE PT FI RO CZ SK CZ PT FI AT SI LU DE IT IT Annual accounts Quarterly accounts Semi annual accounts 5 REPORT 03 Products and Services of the European CBSOs April 03

26 CBSOs DATABASES BOX 5 AVAILABILITY OF RAW DATA IN EUROPEAN CBSOs CONSOLIDATED ACCOUNTS ES ES AT DE PT FR DE IT BE FR AT INDIVIDUAL & CONSOLIDATED ACCOUNTS DK SI SI IT DE DE Annual accounts Quarterly accounts Semi annual accounts 6 REPORT 03 Products and Services of the European CBSOs April 03

27 CBSOs DATABASES G0 ANNUAL DATABASES Total Nr=3 4 Individual & Consolidated Consolidated Individual TIMELINESS S* N + 4 months N + 6 months N + 7 months N + 9 months N + 0 months N + months N + months N + 4 months G QUARTERLY DATABASES G SEMI ANNUAL DATABASES N + 4 months; 3% ( individual id l& consolidated) N + 3 months; 5% ( individual and consolidated) Total Nr=8 N + months; 63% (4 individual and individual & consolidated) N + 8 months; 33% ( individual) id N + 6 months; 33% ( consolidated) * In some cases, Timeliness figures for provisional statistics raw data. The database itself might not be complete at the given date REPORT 03 Products and Services of the European CBSOs Total Nr=3 N + 3 months; 33% ( consolidated) 7 April 03

28 EUROPEAN COMMITTEE OF CENTRAL BALANCE SHEET DATA OFFICES report INDEX. PRESENTATION. QUESTIONNAIRE APPROACH 3. EUROPEAN CBSOs 3. CHARACTERIZATION OF CBSOs 3. CBSOs DATABASES 3.3 CBSOs PRODUCTS AND SERVICES (P&S) 3.4 FUTURE CBSOs PRODUCTS AND SERVICES (P&S) 3.5 SUMMARY 8

29 CBSOs PRODUCTS AND SERVICES (P&S) This section of the Report presents the Products & Services (P&S) carried out by the CBSOs enquired. Of the seventeen European countries/entities* that are considered in the present analysis it was found a total of 30 P&S. It is important to notice that Luxembourg has no P&S in the moment because its activity as a CBSO is starting. For this reason, Luxembourg will only be considered in the section of Future P&S. According to the answers of the questionnaire, each country/ entity has in average 8 P&S. By P&S categories, the great majority would respect to aggregated data (38%). The rest of the P&S have the following division: Studies/ Reports/ Analysis (6%), Microdata individual data (0%), Risk Assessment (8%) and Microdataand d aggregated tddt data (7%). Please see Figure and Graph3 to have more dtil detail on each P&S. F TYPES OF PRODUCTS & SERVICES 38% AGGREGATED DATA It respects to P&S that diffuse mere aggregated data, without analytical texts, on economic/ financial indicators. For example, by sector of activity, size of companies. 6% 0% STUDIES/ REPORTS/ ANALYSIS MICRODATA: INDIVIDUAL DATA Whenever the P&S is focused on presenting some deepness to some subject of interest. For instance, the financial performance of SMEs. P&S that delivers data on an individual basis, company by company. For instance, the delivery of the accounts of one company for matters of Bank Supervision. 8% RISK ASSESSMENT P&S related to rating and/ or scoring. The Financial Stability Report was also included here. 7% MICRODATA AND AGGREGATED DATA Meant for P&S that put together microdata: individual data and aggregated data. For example, a P&S that compares a single company to its sector/ company size. *For Italy two entities were considered: National Central Bank and private company 9 REPORT 03 Products and Services of the European CBSOs April 03

30 CBSOs PRODUCTS AND SERVICES (P&S) G3 NUMBER AND TYPE OF PRODUCTS & SERVICES BY CBSO Portugal Spain France Belgium Germany Italy_BdI Poland Austria Italy_CG Romania Czech Rep. Finland Denmark Slovakia Slovenia Aggregated data Microdata and aggregated data Microdata: individual data Risk Assessment Studies / Reports / Analysis 30 REPORT 03 Products and Services of the European CBSOs April 03

31 CBSOs PRODUCTS AND SERVICES (P&S) EXAMPLES OF P&S MICRODATA: INDIVIDUAL DATA Individual data for the following purposes: ERICA databases, statistics, research, sample design input; Online consultation of individual accounts; Data Warehouse (available for the entire institution). AGGREGATED DATA Contribution for statistics: Non Financial Corporations, BACH, aggregated data for other divisions, Financial accounts, Financial Soundness Indicators); Summary Table to the Board of Directors; Sectoral Aggregates. MICRODATA AND AGGREGATED DATA Enterprise and Sector Table delivered to individual enterprises; Studies for individual enterprises. STUDIES/ REPORTS/ ANALYSIS Statistical Bulletin; Studies on Non Financial Corporations (example, SME delay on payments); Research papers. RISK ASSESSMENT Rating; Scoring. 3 REPORT 03 Products and Services of the European CBSOs April 03

32 ANALYSIS BY TYPE OF P&S AGGREGATED DATA STUDIES/ REPORTS/ ANALYSIS MICRODATA: INDIVIDUAL DATA RISK ASSESSMENT MICRODATA AND AGGREGATED DATA 3

33 CBSOs PRODUCTS AND SERVICES (P&S) Ж G5 INTERNAL/ EXTERNAL P&S BY TYPE P&S related to Microdata have lower percentage of deliverability to external audiences. 6% 34% 33% 8% 50% 40% 8% 4% 44% 40% 60% 59% 4% % 0% Aggregated data Microdata and Microdata: individual Risk Assessment Studies / Reports / aggregated data data Analysis External Internal Internal & External 33 REPORT 03 Products and Services of the European CBSOs April 03

34 CBSOs PRODUCTS AND SERVICES (P&S) Ж G6 EXTERNAL P&S BY TYPE AND USER 50% of the P&S are deliverables for external use 7% 5% only. 36% The General public is the most 50% important external user of both Studies/ Reports/ 63% Analysis and Aggregated data. 00% 90% Companies are the only 64% recipients of P&S concerning 50% Microdata and aggregated data. The receives 30% most of the Microdata: individual id data as a consequence of ERICA and Aggregated data Microdata and aggregated data Microdata: individual data 5% Risk Assessment Studies / Reports / Analysis ERICA databases. Companies Companies & Banks General Public Government Specific entities 34 REPORT 03 Products and Services of the European CBSOs April 03

35 CBSOs PRODUCTS AND SERVICES (P&S) Ж 35% of the P&S are deliverables for internal use only. 4% G7 INTERNAL P&S BY TYPE AND USER 5% Statistics Departments in the NCBs are the main users of both Microdata and aggregated data. Research & Economic Departments are also very interested in this type of CBSOs P&S. Supervision Departments are basically focused on P&S related to Risk Assessment. Finally, it seems there is a significant production of CBSOs Studies/ Reports/ Analysis for the Board of Directors of the NCBs. 53% 6% 6% % Aggregated data 75% 5% Microdata and aggregated data 5% 38% 5% 8% 8% Microdata: individual data 50% 50% 50% 3% 38% Risk Assessment Studies / Reports / Analysis Board of Directors Financial Stability Dept Research & Economic Dept Statistics Dept Supervision Dept Various Dept 35 REPORT 03 Products and Services of the European CBSOs April 03

36 GENERAL ANALYSIS OF P&S 36

37 CBSOs PRODUCTS AND SERVICES (P&S) G8 PURPOSE OF P&S % % 6% 7% 3% 7% 9% 5% 0% Legal Obligation 73% Statistics 7% Risk Assessment % 59% 67% Research/ Analysis 43% 5% 0% Aggregated data Microdata and aggregated data Microdata: individual data Risk Assessment Studies / Reports / Analysis Note: A P&S can have more than one purpose G9 CBSO P&S RELATED TO STATISTICS National Accounts; % Various; 3% BoP; 6% Central Balance Sheet Databases (CBSD) CBSD; 59% 37 REPORT 03 Products and Services of the European CBSOs April 03

38 CBSOs PRODUCTS AND SERVICES (P&S) F CBSO CONTENTS INCLUDED IN THE P&S 4% of the CBSO P&S include accounting data, derived indicators and text simultaneously. It was not find any P&S that has only text. 34% of P&S have both accounting data and derived indicators. ACCOUNTING DATA 8% 34% % 4% DERIVED INDICATORS 0% 3% TEXT 0% 38 REPORT 03 Products and Services of the European CBSOs April 03

39 CBSOs PRODUCTS AND SERVICES (P&S) FAST FACTS ABOUT EUROPEAN CBSOs P&S (I) G0 NON CBSO CONTENTS INCLUDED IN THE P&S G FORMAT OF P&S DELIVERY 7% of the P&S does not have any other contents than the ones available in ONLINE HARD COPY each CBSO. More than hlf half of theremaining i 9% thatt uses other contents t than the ones available in CBSO uses, at least, either the information of the Securities Database or the Central Credit Register. Half (50%) of the P&S that use non CBSO contents are explained by Studies/ Reports/ Analysis. The rest of the distribution is as follows: Risk Assessment (5%), Aggregated Data (3%), Microdata and Aggregated data (8%) and YES, 38% NO, 6% YES; % NO; 89% Microdata: individual data (4%). READ ONLY FLEXIBLE YES; 9% NO; 7% YES, 46% NO, 54% YES; 73% NO; 7% 39 REPORT 03 Products and Services of the European CBSOs April 03

40 CBSOs PRODUCTS AND SERVICES (P&S) FAST FACTS ABOUT EUROPEAN CBSOs P&S (II) G CONFIDENTIALITY OF P&S G3 TIMING OF P&S 47% ofp&sarerestricted,4%aremadepublicandtheremaining%are both public and restricted d( (e.g., the BACH database). 8% of P&S are made available on a regular basis; for 7% of them until yearafter the reference period. 8% of P&S related to Risk Assessment are restricted. That percentage of restricted P&S decreases in the other types: 78% in Microdata and aggregated data, 73% in Microdata: individual data, 3% in Studies/ Analysis/ Reports and 30% in Aggregated Data. Real time; % N+Q to N+4Q, 7% Restricted; 47% Public; 4% Irregular; 7% Regular, 8% Public & Restricted; % +5Q to N+9Q, 0% 40 REPORT 03 Products and Services of the European CBSOs April 03

41 EUROPEAN COMMITTEE OF CENTRAL BALANCE SHEET DATA OFFICES report INDEX. PRESENTATION. QUESTIONNAIRE APPROACH 3. EUROPEAN CBSOs 3. CHARACTERIZATION OF CBSOs 3. CBSOs DATABASES 3.3 CBSOs PRODUCTS AND SERVICES (P&S) 3.4 FUTURE CBSOs PRODUCTS AND SERVICES (P&S) 3.5 SUMMARY 4

42 CBSOs PRODUCTS AND SERVICES (P&S) FAST FACTS ABOUT FUTURE EUROPEAN CBSO P&S G4 TOTAL NUMBER OF FUTURE NEW P&S BY TYPE 9 new P&S are already in CBSO plans for the near future. New P&S will be mostly associated with Studies/ Reports/ Analysis and Microdata: individual data. This 9 new P&S will be either ih for internal use (4%), external use (4%) and both internal and external use (7%). One fourth (4%) of the future P&S are associated to the Total Microdata and aggregated data Microdata: individual data Risk assessment Aggregated data Studies/ Reports/ Analysis 4 REPORT 03 Products and Services of the European CBSOs April 03

43 EUROPEAN COMMITTEE OF CENTRAL BALANCE SHEET DATA OFFICES report INDEX. PRESENTATION. QUESTIONNAIRE APPROACH 3. EUROPEAN CBSOs 3. CHARACTERIZATION OF CBSOs 3. CBSOs DATABASES 3.3 CBSOs PRODUCTS AND SERVICES (P&S) 3.4 FUTURE CBSOs PRODUCTS AND SERVICES (P&S) 3.5 SUMMARY 43

44 SUMMARY G5 SUMMARY OF EUROPEAN CBSOs P&S PRESENT AND FUTURE Aggregated data Studies / Reports / Analysis Microdata and aggregated data Risk Assessment Microdata: individual data Present & Future Present *The scale corresponds to the number of P&S types available 44 REPORT 03 Products and Services of the European CBSOs April 03

45 ANALYSIS BY COUNTRY/ INSTITUTION 45

46 SUMMARY Studies / Reports / Analysis Risk Assessment G6 AUSTRIA Aggregated data Microdata and aggregated data Microdata: individual data Studies / Reports / Analysis Risk Assessment G7 BELGIUM Aggregated data Present t& Future Present Present t& Future Present G8 CZECH REPUBLIC G9 DENMARK Microdata and aggregated data Microdata: individual data *The scale corresponds to th he number of P&S types available Studies / Reports / Analysis Aggregated data 3 Microdata and aggregated data Studies / Reports / Analysis 3 Aggregated 0data 0 Aggregated data,5 0,5 Microdata and aggregated data Risk Assessment Microdata: individual data Risk Assessment Microdata: individual data Present & Future Present Present & Future Present 46 REPORT 03 Products and Services of the European CBSOs April 03

47 SUMMARY Studies / Reports / Analysis Risk Assessment G30 FINLAND Aggregated data,5 0,5 0 Microdata and aggregated data Microdata: individual data Studies / Reports / Analysis Risk Assessment G3 FRANCE Aggregated data Present & Future Present Present & Future Present G3 GERMANY G33 ITALY BANK OF ITALY Microdata and aggregated data Microdata: individual data *The scale corresponds to th he number of P&S types available Aggregated data Aggregated data Studies / Reports / Analysis Microdata and aggregated data Studies / Reports / Analysis 0 0 Microdata and aggregated data Risk Assessment Microdata: individual data Risk Assessment Microdata: individual data Present & Future Present Present & Future Present 47 REPORT 03 Products and Services of the European CBSOs April 03

48 SUMMARY Studies / Reports / Analysis Risk Assessment G34 ITALY CERVED GROUP Aggregated data 5,5 0,5 0 Microdata and aggregated data Microdata: individual data Studies / Reports / Analysis Risk Assessment G35 LUXEMBOURG Aggregated data Present & Future Present Present t& Future Present G36 POLAND,5 0,5 0 G37 PORTUGAL Microdata and aggregated data Microdata: individual data Microdata: individual id ld data *The scale corresponds to th he number of P&S types available Studies / Reports / Analysis Aggregated data Microdata and aggregated data Studies / Reports / Analysis Aggregated data Microdata and aggregated data Risk Assessment Microdata: individual data Risk Assessment Microdata: individual data Present & Future Present Present & Future Present 48 REPORT 03 Products and Services of the European CBSOs April 03

49 SUMMARY Studies / Reports / Analysis Risk Assessment G38 ROMANIA Aggregated data Present & Future Microdata and aggregated data Microdata: individual data Present Studies / Reports / Analysis Risk Assessment G39 SLOVAKIA Aggregated data 5,5 0,5 0 Present t& Future Present G40 SLOVENIA G4 SPAIN Microdata and aggregated data Microdata: individual data Aggregated data and Risk Assessment *The scale corresponds to th he number of P&S types available Studies / Reports / Analysis Aggregated data,5 0,5 Microdata and aggregated data Studies / Reports / Analysis Aggregated 0data 0 Aggregated data Microdata and aggregated data Risk Assessment Microdata: individual data Risk Assessment Microdata: individual data Present & Future Present Present & Future Present 49 REPORT 03 Products and Services of the European CBSOs April 03

50 SUMMARY G4 PRESENT AND FUTURE Studies / Reports / Analysis Aggregated data Microdata and aggregated data 0 Risk Assessment Microdata: individual data Present & Future Present *The scale corresponds to the number of P&S types available 50 REPORT 03 Products and Services of the European CBSOs April 03

51 5