# C_2007136EN.01000601.xml

| 20.6.2007 | EN | Official Journal of the European Union | C 136/6 |
| --- | --- | --- | --- |

20.6.2007

EN

Official Journal of the European Union

C 136/6

---

RECOMMENDATION OF THE EUROPEAN CENTRAL BANK

RECOMMENDATION OF THE EUROPEAN CENTRAL BANK

of 31 May 2007

amending Recommendation ECB/2004/16 on the statistical reporting requirements of the European Central Bank in the field of balance of payments and international investment position statistics, and the international reserves template

(ECB/2007/4)

(2007/C 136/02)

THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,

Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 5.1 thereof,

Whereas:

| (1) | The first sentence of Article 5.1 of the Statute requires the European Central Bank (ECB), assisted by the national central banks (NCBs), to collect either from the competent authorities other than NCBs or directly from economic agents the statistical information necessary in order for it to undertake the tasks of the European System of Central Banks (ESCB). The second sentence of Article 5.1 of the Statute provides that for these purposes the ECB must cooperate with the Community institutions or bodies and with the competent authorities of the Member States or third countries and with international organisations. |
| --- | --- |

(1)

The first sentence of Article 5.1 of the Statute requires the European Central Bank (ECB), assisted by the national central banks (NCBs), to collect either from the competent authorities other than NCBs or directly from economic agents the statistical information necessary in order for it to undertake the tasks of the European System of Central Banks (ESCB). The second sentence of Article 5.1 of the Statute provides that for these purposes the ECB must cooperate with the Community institutions or bodies and with the competent authorities of the Member States or third countries and with international organisations.

| (2) | Information that is necessary to meet the ECB's requirements in the field of balance of payments and international investment position statistics may be collected and/or compiled by competent authorities other than NCBs. Therefore, some of the tasks to be undertaken to meet these requirements require cooperation between the ECB or the NCBs and such competent authorities, in line with Article 5.1 of the Statute. Article 4 of Council Regulation (EC) No 2533/98 of 23 November 1998 concerning the collection of statistical information by the European Central Bank (1) requires the Member States to organise themselves in the field of statistics and to cooperate fully with the ESCB in order to ensure the fulfilment of the obligations arising out of Article 5 of the Statute. |
| --- | --- |

(2)

Information that is necessary to meet the ECB's requirements in the field of balance of payments and international investment position statistics may be collected and/or compiled by competent authorities other than NCBs. Therefore, some of the tasks to be undertaken to meet these requirements require cooperation between the ECB or the NCBs and such competent authorities, in line with Article 5.1 of the Statute. Article 4 of Council Regulation (EC) No 2533/98 of 23 November 1998 concerning the collection of statistical information by the European Central Bank (1) requires the Member States to organise themselves in the field of statistics and to cooperate fully with the ESCB in order to ensure the fulfilment of the obligations arising out of Article 5 of the Statute.

1

| (3) | When further Member States adopt the euro, it will be necessary to compile back data for the euro area aggregate in its new composition on balance of payments (including the seasonally adjusted current account) and international investment position statistics. Certain amendments to Recommendation ECB/2004/16 of 16 July 2004 on the statistical reporting requirements of the European Central Bank in the field of balance of payments and international investment position statistics (2) are therefore required to cater for future enlargements of the euro area in respect of the provision of back data. The period for which such back data must be provided may be reassessed by 2010. In the case of Ireland and Italy, such data would have to be reported by the addressees of this Recommendation, |
| --- | --- |

(3)

When further Member States adopt the euro, it will be necessary to compile back data for the euro area aggregate in its new composition on balance of payments (including the seasonally adjusted current account) and international investment position statistics. Certain amendments to Recommendation ECB/2004/16 of 16 July 2004 on the statistical reporting requirements of the European Central Bank in the field of balance of payments and international investment position statistics (2) are therefore required to cater for future enlargements of the euro area in respect of the provision of back data. The period for which such back data must be provided may be reassessed by 2010. In the case of Ireland and Italy, such data would have to be reported by the addressees of this Recommendation,

2

HAS ADOPTED THIS RECOMMENDATION:

Article 1

Annexes I, III, IV and VII to Recommendation ECB/2004/16 are amended in accordance with Annexes I, II, III and IV, respectively, to this recommendation.

Article 2

Addressees

This recommendation is addressed to the Central Statistics Office (CSO) in Ireland and the Ufficio Italiano dei Cambi (UIC) in Italy.

Done at Frankfurt am Main, 31 May 2007.

For the Governing Council of the ECB

The President of the ECB

Jean-Claude TRICHET

---

(1)  OJ L 318, 27.11.1998, p. 8.

1

(2)  OJ C 292, 30.11.2004, p. 21.

2

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ANNEX I

Annex I to Recommendation ECB/2004/16 is amended as follows:

| 1. | Paragraph 1.6 is replaced by the following:
  ‘From March 2008, starting with data corresponding to January 2008 transactions and to end-2007 positions, portfolio investment collection systems shall conform to one of the models set out in the table contained in Annex VII. The chosen model may be phased in to enable the individual NCB to reach the target coverage indicated in Annex VII at the latest by March 2009, in relation to December 2008 stocks.’ |
| --- | --- |

1.

Paragraph 1.6 is replaced by the following:

‘From March 2008, starting with data corresponding to January 2008 transactions and to end-2007 positions, portfolio investment collection systems shall conform to one of the models set out in the table contained in Annex VII. The chosen model may be phased in to enable the individual NCB to reach the target coverage indicated in Annex VII at the latest by March 2009, in relation to December 2008 stocks.’

| 2. | The following subparagraph 1.7 is added at the end of paragraph 1:






  ‘1.7 | (a) | In respect of any Member State that adopts the euro on or after 1 January 2007, both the NCB of that Member State and the NCBs of all other participating Member States at the time such Member State adopts the euro shall provide the ECB with back data corresponding to the data required under Tables 1 to 8 of Annex III, to enable the compilation of aggregates covering the euro area in its new composition. These NCBs shall provide the back data from the reference dates set out below, with the exception of the breakdowns listed under Table 13, for which the earliest reference period to be reported shall be the one indicated in that table. All back data may be provided on a best estimate basis.






  (i) | If the Member State that adopts the euro joined the EU before May 2004, the back data shall cover, as a minimum, the period from 1999. |
| --- | --- | --- | --- | --- |

2.

The following subparagraph 1.7 is added at the end of paragraph 1:

‘1.7

(a)

In respect of any Member State that adopts the euro on or after 1 January 2007, both the NCB of that Member State and the NCBs of all other participating Member States at the time such Member State adopts the euro shall provide the ECB with back data corresponding to the data required under Tables 1 to 8 of Annex III, to enable the compilation of aggregates covering the euro area in its new composition. These NCBs shall provide the back data from the reference dates set out below, with the exception of the breakdowns listed under Table 13, for which the earliest reference period to be reported shall be the one indicated in that table. All back data may be provided on a best estimate basis.

(i)

If the Member State that adopts the euro joined the EU before May 2004, the back data shall cover, as a minimum, the period from 1999.

| (ii) | If the Member State that adopts the euro joined the EU in May 2004, the back data shall cover, as a minimum, the period from 2004. |
| --- | --- |

(ii)

If the Member State that adopts the euro joined the EU in May 2004, the back data shall cover, as a minimum, the period from 2004.

| (iii) | If the Member State that adopts the euro joined the EU after May 2004, the back data shall cover, as a minimum, the period from the date on which that Member State joined the EU. |
| --- | --- |

(iii)

If the Member State that adopts the euro joined the EU after May 2004, the back data shall cover, as a minimum, the period from the date on which that Member State joined the EU.

| (b) | If the back data referred to in subparagraph (a) do not already include monthly observations covering five years for each of the four main sub-items of the balance of payments current account, namely goods, services, income and current transfers, then the NCBs shall ensure that the data which they provide include such observations.’ |
| --- | --- |

(b)

If the back data referred to in subparagraph (a) do not already include monthly observations covering five years for each of the four main sub-items of the balance of payments current account, namely goods, services, income and current transfers, then the NCBs shall ensure that the data which they provide include such observations.’

| 3. | Subparagraph 2.6 is replaced by the following:
  ‘Transactions and positions in debt securities broken down by currency of issue shall be made available to the ECB within six months of the end of the period to which the data relate.’ |
| --- | --- |

3.

Subparagraph 2.6 is replaced by the following:

‘Transactions and positions in debt securities broken down by currency of issue shall be made available to the ECB within six months of the end of the period to which the data relate.’

| 4. | The following new subparagraph 4.4a is inserted:






  ‘4.4a | Best estimates are permitted for the following breakdowns in Table 2 of Annex III:






  (a) | sub-items of income on other investment: I C 2.3.1 to C 2.3.3, and memorandum items 1 to 4; |
| --- | --- | --- | --- |

4.

The following new subparagraph 4.4a is inserted:

‘4.4a

Best estimates are permitted for the following breakdowns in Table 2 of Annex III:

(a)

sub-items of income on other investment: I C 2.3.1 to C 2.3.3, and memorandum items 1 to 4;

| (b) | sub-items of current transfers: I D 1.1 to D 1.8 and D 2.2.1 to D 2.2.11; and |
| --- | --- |

(b)

sub-items of current transfers: I D 1.1 to D 1.8 and D 2.2.1 to D 2.2.11; and

| (c) | sub-items of capital transfers: II A.1 and A.2.’ |
| --- | --- |

(c)

sub-items of capital transfers: II A.1 and A.2.’

---

ANNEX II

Annex III to Recommendation ECB/2004/16 is amended as follows:

| 1. | Table 2 is replaced by the following:
  ‘Table 2
  Quarterly national contributions to the euro area balance of payments (1) | Credit | Debit | Net |
| --- | --- | --- | --- | --- |
| I. | Current account |

1.

Table 2 is replaced by the following:

‘Table 2

Quarterly national contributions to the euro area balance of payments (1)

Credit

Debit

Net

I.

| A. | Goods |
| --- | --- |

A.

Goods

extra

extra

extra

| B. | Services |
| --- | --- |

B.

Services

extra

extra

extra

| C. | Income |
| --- | --- |

C.

Income

| 1. | Compensation of employees |
| --- | --- |

1.

Compensation of employees

extra

extra

extra

| 2. | Investment income |
| --- | --- |

2.

Investment income

| 2.1. | Direct investment |
| --- | --- |

2.1.

Direct investment

extra

extra

extra

| 2.1.1. | Income on equity |
| --- | --- |

2.1.1.

Income on equity

extra

extra

extra

| 2.1.1.1. | Dividends and distributed profit |
| --- | --- |

2.1.1.1.

Dividends and distributed profit

extra

extra

extra

| 2.1.1.2. | Reinvested earnings and undistributed profit |
| --- | --- |

2.1.1.2.

Reinvested earnings and undistributed profit

extra

extra

extra

| 2.1.2. | Income on debt (interest) |
| --- | --- |

2.1.2.

Income on debt (interest)

extra

extra

extra

| 2.2. | Portfolio investment |
| --- | --- |

2.2.

Portfolio investment

extra

national

| 2.2.1. | Income on equity |
| --- | --- |

2.2.1.

Income on equity

extra

national

| 2.2.2. | Income on debt (interest) |
| --- | --- |

2.2.2.

Income on debt (interest)

extra

national

| 2.2.2.1. | Bonds and notes |
| --- | --- |

2.2.2.1.

Bonds and notes

extra

national

| 2.2.2.2. | Money market instruments |
| --- | --- |

2.2.2.2.

Money market instruments

extra

national

| 2.3. | Other investment |
| --- | --- |

2.3.

Other investment

extra

extra

extra

| 2.3.1. | Interest according to BPM5 (not adjusted for FISIM (2)) |
| --- | --- |

2.3.1.

extra

extra

extra

| 2.3.2. | Income attributed to insurance policyholders |
| --- | --- |

2.3.2.

Income attributed to insurance policyholders

extra

extra

extra

| 2.3.3. | Other |
| --- | --- |

2.3.3.

Other

extra

extra

extra

Memorandum item:

| 1. | investment income — interest according to the SNA93  (3)(adjusted for FISIM) |
| --- | --- |

1.

extra

| 2. | value of FISIM |
| --- | --- |

2.

extra

extra

extra

| 3. | investment income — interest according to BPM5 (not adjusted for FISIM) |
| --- | --- |

3.

extra

| 4. | investment income — other than interest |
| --- | --- |

4.

extra

| D. | Current transfers |
| --- | --- |

D.

Current transfers

extra

extra

extra

| 1. | General government |
| --- | --- |

1.

General government

extra

extra

extra

| 1.1. | taxes on products |
| --- | --- |

1.1.

extra

extra

extra

| 1.2. | other taxes on production |
| --- | --- |

1.2.

extra

extra

extra

| 1.3. | subsidies on products |
| --- | --- |

1.3.

extra

extra

extra

| 1.4. | other subsidies on production |
| --- | --- |

1.4.

extra

extra

extra

| 1.5. | taxes on income, wealth, etc. |
| --- | --- |

1.5.

extra

extra

extra

| 1.6. | social contributions |
| --- | --- |

1.6.

extra

extra

extra

| 1.7. | social benefits other than social transfers in kind |
| --- | --- |

1.7.

extra

extra

extra

| 1.8. | other current transfers of general government |
| --- | --- |

1.8.

extra

extra

extra

| 2. | Other sectors |
| --- | --- |

2.

Other sectors

extra

extra

extra

| 2.1. | workers' remittances |
| --- | --- |

2.1.

workers' remittances

extra

extra

extra

| 2.2. | other transfers |
| --- | --- |

2.2.

other transfers

extra

extra

extra

| 2.2.1. | taxes on products |
| --- | --- |

2.2.1.

extra

extra

extra

| 2.2.2. | other taxes on production |
| --- | --- |

2.2.2.

extra

extra

extra

| 2.2.3. | subsidies on products |
| --- | --- |

2.2.3.

extra

extra

extra

| 2.2.4. | other subsidies on production |
| --- | --- |

2.2.4.

extra

extra

extra

| 2.2.5. | taxes on income, wealth, etc. |
| --- | --- |

2.2.5.

extra

extra

extra

| 2.2.6. | social contributions |
| --- | --- |

2.2.6.

extra

extra

extra

| 2.2.7. | social benefits other than social transfers in kind |
| --- | --- |

2.2.7.

extra

extra

extra

| 2.2.8. | net non-life insurance premiums |
| --- | --- |

2.2.8.

extra

extra

extra

| 2.2.9. | non-life insurance claims |
| --- | --- |

2.2.9.

extra

extra

extra

| 2.2.10. | other current transfers of other sectors not included elsewhere |
| --- | --- |

2.2.10.

extra

extra

extra

| 2.2.11. | adjustment for the change in net equity of households in pension fund reserves |
| --- | --- |

2.2.11.

extra

extra

extra

| II. | Capital account |
| --- | --- |

II.

extra

extra

extra

| A. | Capital transfers |
| --- | --- |

A.

Capital transfers

extra

extra

extra

| 1. | capital taxes |
| --- | --- |

1.

extra

extra

extra

| 2. | investment grants and other capital transfers |
| --- | --- |

2.

extra

extra

extra

| B. | Acquisition/disposal of non-produced non-financial assets |
| --- | --- |

B.

Acquisition/disposal of non-produced non-financial assets

extra

extra

extra

Net assets

Net liabilities

Net

| III. | Financial account |
| --- | --- |

III.

| 1. | Direct investment |
| --- | --- |

1.

Direct investment

extra

| 1.1. | Abroad |
| --- | --- |

1.1.

Abroad

extra

| 1.1.1. | Equity capital |
| --- | --- |

1.1.1.

Equity capital

extra

| 1.1.1.1. | MFIs (excluding central banks) |
| --- | --- |

1.1.1.1.

MFIs (excluding central banks)

extra

| 1.1.1.2. | Other sectors |
| --- | --- |

1.1.1.2.

Other sectors

extra

| 1.1.2. | Reinvested earnings |
| --- | --- |

1.1.2.

Reinvested earnings

extra

| 1.1.2.1. | MFIs (excluding central banks) |
| --- | --- |

1.1.2.1.

MFIs (excluding central banks)

extra

| 1.1.2.2. | Other sectors |
| --- | --- |

1.1.2.2.

Other sectors

extra

| 1.1.3. | Other capital |
| --- | --- |

1.1.3.

Other capital

extra

| 1.1.3.1. | MFIs (excluding central banks) |
| --- | --- |

1.1.3.1.

MFIs (excluding central banks)

extra

| 1.1.3.2. | Other sectors |
| --- | --- |

1.1.3.2.

Other sectors

extra

| 1.2. | In the reporting country |
| --- | --- |

1.2.

In the reporting country

extra

| 1.2.1. | Equity capital |
| --- | --- |

1.2.1.

Equity capital

extra

| 1.2.1.1. | MFIs (excluding central banks) |
| --- | --- |

1.2.1.1.

MFIs (excluding central banks)

extra

| 1.2.1.2. | Other sectors |
| --- | --- |

1.2.1.2.

Other sectors

extra

| 1.2.2. | Reinvested earnings |
| --- | --- |

1.2.2.

Reinvested earnings

extra

| 1.2.2.1. | MFIs (excluding central banks) |
| --- | --- |

1.2.2.1.

MFIs (excluding central banks)

extra

| 1.2.2.2. | Other sectors |
| --- | --- |

1.2.2.2.

Other sectors

extra

| 1.2.3. | Other capital |
| --- | --- |

1.2.3.

Other capital

extra

| 1.2.3.1. | MFIs (excluding central banks) |
| --- | --- |

1.2.3.1.

MFIs (excluding central banks)

extra

| 1.2.3.2. | Other sectors |
| --- | --- |

1.2.3.2.

Other sectors

extra

| 2. | Portfolio investment |
| --- | --- |

2.

Portfolio investment

intra/extra

national

| 2.1. | Equity securities |
| --- | --- |

2.1.

Equity securities

intra/extra

national

of which: Investment funds and money market funds shares

intra/extra

national

| (i) | held by monetary authorities |
| --- | --- |

(i)

extra

| (ii) | held by general government |
| --- | --- |

(ii)

extra

| (iii) | held by MFIs (excluding central banks) |
| --- | --- |

(iii)

extra

| (iv) | held by other sectors |
| --- | --- |

(iv)

extra

| 2.1.1. | Held by monetary authorities |
| --- | --- |

2.1.1.

Held by monetary authorities

extra

| 2.1.2. | Held by general government |
| --- | --- |

2.1.2.

Held by general government

extra

| 2.1.3. | Issued by MFIs (excluding central banks) |
| --- | --- |

2.1.3.

Issued by MFIs (excluding central banks)

intra

national

| 2.1.4. | Held by MFIs (excluding central banks) |
| --- | --- |

2.1.4.

Held by MFIs (excluding central banks)

extra

| 2.1.5. | Issued by other sectors |
| --- | --- |

2.1.5.

Issued by other sectors

intra

national

| 2.1.6. | Held by other sectors |
| --- | --- |

2.1.6.

Held by other sectors

extra

| 2.2. | Debt securities |
| --- | --- |

2.2.

Debt securities

intra/extra

national

| 2.2.1. | Bonds and notes |
| --- | --- |

2.2.1.

Bonds and notes

intra/extra

national

| 2.2.1.1. | Issued by monetary authorities |
| --- | --- |

2.2.1.1.

Issued by monetary authorities

intra

national

| 2.2.1.2. | Held by monetary authorities |
| --- | --- |

2.2.1.2.

Held by monetary authorities

extra

| 2.2.1.3. | Issued by general government |
| --- | --- |

2.2.1.3.

Issued by general government

intra

national

| 2.2.1.4. | Held by general government |
| --- | --- |

2.2.1.4.

Held by general government

extra

| 2.2.1.5. | Issued by MFIs (excluding central banks) |
| --- | --- |

2.2.1.5.

Issued by MFIs (excluding central banks)

intra

national

| 2.2.1.6. | Held by MFIs (excluding central banks) |
| --- | --- |

2.2.1.6.

Held by MFIs (excluding central banks)

extra

| 2.2.1.7. | Issued by other sectors |
| --- | --- |

2.2.1.7.

Issued by other sectors

intra

national

| 2.2.1.8. | Held by other sectors |
| --- | --- |

2.2.1.8.

Held by other sectors

extra

| 2.2.2. | Money market instruments |
| --- | --- |

2.2.2.

Money market instruments

intra/extra

national

| 2.2.2.1. | Issued by monetary authorities |
| --- | --- |

2.2.2.1.

Issued by monetary authorities

intra

national

| 2.2.2.2. | Held by monetary authorities |
| --- | --- |

2.2.2.2.

Held by monetary authorities

extra

| 2.2.2.3. | Issued by general government |
| --- | --- |

2.2.2.3.

Issued by general government

intra

national

| 2.2.2.4. | Held by general government |
| --- | --- |

2.2.2.4.

Held by general government

extra

| 2.2.2.5. | Issued by MFIs (excluding central banks) |
| --- | --- |

2.2.2.5.

Issued by MFIs (excluding central banks)

intra

national

| 2.2.2.6. | Held by MFIs (excluding central banks) |
| --- | --- |

2.2.2.6.

Held by MFIs (excluding central banks)

extra

| 2.2.2.7. | Issued by other sectors |
| --- | --- |

2.2.2.7.

Issued by other sectors

intra

national

| 2.2.2.8. | Held by other sectors |
| --- | --- |

2.2.2.8.

Held by other sectors

extra

| 3. | Financial derivatives |
| --- | --- |

3.

Financial derivatives

national

| 3.1. | Monetary authorities |
| --- | --- |

3.1.

Monetary authorities

national

| 3.2. | General government |
| --- | --- |

3.2.

General government

national

| 3.3. | MFIs (excluding central banks) |
| --- | --- |

3.3.

MFIs (excluding central banks)

national

| 3.4. | Other sectors |
| --- | --- |

3.4.

Other sectors

national

| 4. | Other investment |
| --- | --- |

4.

Other investment

extra

extra

extra

| 4.1. | Monetary authorities |
| --- | --- |

4.1.

Monetary authorities

extra

extra

| 4.1.1. | Loans/currency and deposits |
| --- | --- |

4.1.1.

Loans/currency and deposits

extra

extra

| 4.1.2. | Other assets/liabilities |
| --- | --- |

4.1.2.

Other assets/liabilities

extra

extra

| 4.2. | General government |
| --- | --- |

4.2.

General government

extra

extra

| 4.2.1. | Trade credits |
| --- | --- |

4.2.1.

Trade credits

extra

extra

| 4.2.2. | Loans/currency and deposits |
| --- | --- |

4.2.2.

Loans/currency and deposits

extra

extra

| 4.2.2.1. | Loans |
| --- | --- |

4.2.2.1.

Loans

extra

| 4.2.2.2. | Currency and deposits |
| --- | --- |

4.2.2.2.

Currency and deposits

extra

| 4.2.3. | Other assets/liabilities |
| --- | --- |

4.2.3.

Other assets/liabilities

extra

extra

| 4.3. | MFIs (excluding central banks) |
| --- | --- |

4.3.

MFIs (excluding central banks)

extra

extra

| 4.3.1. | Loans/currency and deposits |
| --- | --- |

4.3.1.

Loans/currency and deposits

extra

extra

| 4.3.2. | Other assets/liabilities |
| --- | --- |

4.3.2.

Other assets/liabilities

extra

extra

| 4.4. | Other sectors |
| --- | --- |

4.4.

Other sectors

extra

extra

| 4.4.1. | Trade credits |
| --- | --- |

4.4.1.

Trade credits

extra

extra

| 4.4.2. | Loans/currency and deposits |
| --- | --- |

4.4.2.

Loans/currency and deposits

extra

extra

| 4.4.2.1. | Loans |
| --- | --- |

4.4.2.1.

Loans

extra

| 4.4.2.2. | Currency and deposits |
| --- | --- |

4.4.2.2.

Currency and deposits

extra

| 4.4.3. | Other assets/liabilities |
| --- | --- |

4.4.3.

Other assets/liabilities

extra

extra

| 5. | Reserve assets |
| --- | --- |

5.

Reserve assets

extra

| 5.1. | Monetary gold |
| --- | --- |

5.1.

Monetary gold

extra

| 5.2. | Special drawing rights |
| --- | --- |

5.2.

Special drawing rights

extra

| 5.3. | Reserve position in the IMF |
| --- | --- |

5.3.

Reserve position in the IMF

extra

| 5.4. | Foreign exchange |
| --- | --- |

5.4.

Foreign exchange

extra

| 5.4.1. | Currency and deposits |
| --- | --- |

5.4.1.

Currency and deposits

extra

| 5.4.1.1. | with monetary authorities and the BIS |
| --- | --- |

5.4.1.1.

with monetary authorities and the BIS

extra

| 5.4.1.2. | with MFIs (excluding central banks) |
| --- | --- |

5.4.1.2.

with MFIs (excluding central banks)

extra

| 5.4.2. | Securities |
| --- | --- |

5.4.2.

Securities

extra

| 5.4.2.1. | Equities |
| --- | --- |

5.4.2.1.

Equities

extra

| 5.4.2.2. | Bonds and notes |
| --- | --- |

5.4.2.2.

Bonds and notes

extra

| 5.4.2.3. | Money market instruments |
| --- | --- |

5.4.2.3.

Money market instruments

extra

| 5.4.3. | Financial derivatives |
| --- | --- |

5.4.3.

Financial derivatives

extra

| 5.5. | Other claims |
| --- | --- |

5.5.

Other claims

extra

| 2. | Table 4 is replaced by the following:
  ‘Table 4
  Quarterly national contributions to the euro area international investment position (4) | Assets | Liabilities | Net |
| --- | --- | --- | --- | --- |
| I. | Direct Investment |

2.

Table 4 is replaced by the following:

‘Table 4

Quarterly national contributions to the euro area international investment position (4)

Assets

Liabilities

Net

I.

extra

| 1.1. | Abroad |
| --- | --- |

1.1.

Abroad

extra

| 1.1.1. | — | Equity and reinvested earnings |
| --- | --- | --- |

1.1.1.

—

Equity and reinvested earnings

extra

| 1.1.1.1. | MFIs (excluding central banks) |
| --- | --- |

1.1.1.1.

MFIs (excluding central banks)

extra

| 1.1.1.2. | Other sectors |
| --- | --- |

1.1.1.2.

Other sectors

extra

| 1.1.2. | — | Other capital |
| --- | --- | --- |

1.1.2.

—

Other capital

extra

| 1.1.2.1. | MFIs (excluding central banks) |
| --- | --- |

1.1.2.1.

MFIs (excluding central banks)

extra

| 1.1.2.2. | Other sectors |
| --- | --- |

1.1.2.2.

Other sectors

extra

| 1.2. | In the reporting economy |
| --- | --- |

1.2.

In the reporting economy

extra

| 1.2.1. | — | Equity and reinvested earnings |
| --- | --- | --- |

1.2.1.

—

Equity and reinvested earnings

extra

| 1.2.1.1. | MFIs (excluding central banks) |
| --- | --- |

1.2.1.1.

MFIs (excluding central banks)

extra

| 1.2.1.2. | Other sectors |
| --- | --- |

1.2.1.2.

Other sectors

extra

| 1.2.2. | — | Other capital |
| --- | --- | --- |

1.2.2.

—

Other capital

extra

| 1.2.2.1. | MFIs (excluding central banks) |
| --- | --- |

1.2.2.1.

MFIs (excluding central banks)

extra

| 1.2.2.2. | Other sectors |
| --- | --- |

1.2.2.2.

Other sectors

extra

| II. | Portfolio Investment |
| --- | --- |

II.

national

| 2.1. | Equity securities |
| --- | --- |

2.1.

Equity securities

intra/extra

national

of which: Investment funds and money market funds shares

intra/extra

national

| (i) | held by monetary authorities |
| --- | --- |

(i)

extra

| (ii) | held by general government |
| --- | --- |

(ii)

extra

| (iii) | held by MFIs (excluding central banks) |
| --- | --- |

(iii)

extra

| (iv) | held by other sectors |
| --- | --- |

(iv)

extra

| 2.1.1. | Held by monetary authorities |
| --- | --- |

2.1.1.

Held by monetary authorities

extra

| 2.1.2. | Held by general government |
| --- | --- |

2.1.2.

Held by general government

extra

| 2.1.3. | Issued by MFIs (excluding central banks) |
| --- | --- |

2.1.3.

Issued by MFIs (excluding central banks)

intra

national

| 2.1.4. | Held by MFIs (excluding central banks) |
| --- | --- |

2.1.4.

Held by MFIs (excluding central banks)

extra

| 2.1.5. | Issued by other sectors |
| --- | --- |

2.1.5.

Issued by other sectors

intra

national

| 2.1.6. | Held by other sectors |
| --- | --- |

2.1.6.

Held by other sectors

extra

| 2.2. | Debt securities |
| --- | --- |

2.2.

Debt securities

intra/extra

national

| 2.2.1. | Bonds and notes |
| --- | --- |

2.2.1.

Bonds and notes

intra/extra

national

| 2.2.1.1. | Issued by monetary authorities |
| --- | --- |

2.2.1.1.

Issued by monetary authorities

intra

national

| 2.2.1.2. | Held by monetary authorities |
| --- | --- |

2.2.1.2.

Held by monetary authorities

extra

| 2.2.1.3. | Issued by general government |
| --- | --- |

2.2.1.3.

Issued by general government

intra

national

| 2.2.1.4. | Held by general government |
| --- | --- |

2.2.1.4.

Held by general government

extra

| 2.2.1.5. | Issued by MFIs (excluding central banks) |
| --- | --- |

2.2.1.5.

Issued by MFIs (excluding central banks)

intra

national

| 2.2.1.6. | Held by MFIs (excluding central banks) |
| --- | --- |

2.2.1.6.

Held by MFIs (excluding central banks)

extra

| 2.2.1.7. | Issued by other sectors |
| --- | --- |

2.2.1.7.

Issued by other sectors

intra

national

| 2.2.1.8. | Held by other sectors |
| --- | --- |

2.2.1.8.

Held by other sectors

extra

| 2.2.2. | Money market instruments |
| --- | --- |

2.2.2.

Money market instruments

intra/extra

national

| 2.2.2.1. | Issued by monetary authorities |
| --- | --- |

2.2.2.1.

Issued by monetary authorities

intra

national

| 2.2.2.2. | Held by monetary authorities |
| --- | --- |

2.2.2.2.

Held by monetary authorities

extra

| 2.2.2.3. | Issued by general government |
| --- | --- |

2.2.2.3.

Issued by general government

intra

national

| 2.2.2.4. | Held by general government |
| --- | --- |

2.2.2.4.

Held by general government

extra

| 2.2.2.5. | Issued by MFIs (excluding central banks) |
| --- | --- |

2.2.2.5.

Issued by MFIs (excluding central banks)

intra

national

| 2.2.2.6. | Held by MFIs (excluding central banks) |
| --- | --- |

2.2.2.6.

Held by MFIs (excluding central banks)

extra

| 2.2.2.7. | Issued by other sectors |
| --- | --- |

2.2.2.7.

Issued by other sectors

intra

national

| 2.2.2.8. | Held by other sectors |
| --- | --- |

2.2.2.8.

Held by other sectors

extra

| III. | Financial derivatives |
| --- | --- |

III.

extra

extra

extra

| 3.1. | Monetary authorities |
| --- | --- |

3.1.

Monetary authorities

extra

extra

extra

| 3.2. | General government |
| --- | --- |

3.2.

General government

extra

extra

extra

| 3.3. | MFIs (excluding central banks) |
| --- | --- |

3.3.

MFIs (excluding central banks)

extra

extra

extra

| 3.4. | Other sectors |
| --- | --- |

3.4.

Other sectors

extra

extra

extra

| IV. | Other investment |
| --- | --- |

IV.

extra

extra

extra

| 4.1. | Monetary authorities |
| --- | --- |

4.1.

Monetary authorities

extra

extra

| 4.1.1. | Loans/currency and deposits |
| --- | --- |

4.1.1.

Loans/currency and deposits

extra

extra

| 4.1.2. | Other assets/liabilities |
| --- | --- |

4.1.2.

Other assets/liabilities

extra

extra

| 4.2. | General government |
| --- | --- |

4.2.

General government

extra

extra

| 4.2.1. | Trade credits |
| --- | --- |

4.2.1.

Trade credits

extra

extra

| 4.2.2. | Loans/currency and deposits |
| --- | --- |

4.2.2.

Loans/currency and deposits

extra

extra

| 4.2.2.1. | Loans |
| --- | --- |

4.2.2.1.

Loans

extra

| 4.2.2.2. | Currency and deposits |
| --- | --- |

4.2.2.2.

Currency and deposits

extra

| 4.2.3. | Other assets/liabilities |
| --- | --- |

4.2.3.

Other assets/liabilities

extra

extra

| 4.3. | MFIs (excluding central banks) |
| --- | --- |

4.3.

MFIs (excluding central banks)

extra

extra

| 4.3.1. | Loans/currency and deposits |
| --- | --- |

4.3.1.

Loans/currency and deposits

extra

extra

| 4.3.2. | Other assets/liabilities |
| --- | --- |

4.3.2.

Other assets/liabilities

extra

extra

| 4.4. | Other sectors |
| --- | --- |

4.4.

Other sectors

extra

extra

| 4.4.1. | Trade credits |
| --- | --- |

4.4.1.

Trade credits

extra

extra

| 4.4.2. | Loans/currency and deposits |
| --- | --- |

4.4.2.

Loans/currency and deposits

extra

extra

| 4.4.2.1. | Loans |
| --- | --- |

4.4.2.1.

Loans

extra

| 4.4.2.2. | Currency and deposits |
| --- | --- |

4.4.2.2.

Currency and deposits

extra

| 4.4.3. | Other assets/liabilities |
| --- | --- |

4.4.3.

Other assets/liabilities

extra

extra

| V. | Reserve assets |
| --- | --- |

V.

extra

| 5.1. | Monetary gold |
| --- | --- |

5.1.

Monetary gold

extra

| 5.2. | Special drawing rights |
| --- | --- |

5.2.

Special drawing rights

extra

| 5.3. | Reserve position in the IMF |
| --- | --- |

5.3.

Reserve position in the IMF

extra

| 5.4. | Foreign exchange |
| --- | --- |

5.4.

Foreign exchange

extra

| 5.4.1. | Currency and deposits |
| --- | --- |

5.4.1.

Currency and deposits

extra

| 5.4.1.1. | with monetary authorities and the BIS |
| --- | --- |

5.4.1.1.

with monetary authorities and the BIS

extra

| 5.4.1.2. | with MFIs (excluding central banks) |
| --- | --- |

5.4.1.2.

with MFIs (excluding central banks)

extra

| 5.4.2. | Securities |
| --- | --- |

5.4.2.

Securities

extra

| 5.4.2.1. | Equities |
| --- | --- |

5.4.2.1.

Equities

extra

| 5.4.2.2. | Bonds and notes |
| --- | --- |

5.4.2.2.

Bonds and notes

extra

| 5.4.2.3. | Money market instruments |
| --- | --- |

5.4.2.3.

Money market instruments

extra

| 5.4.3. | Financial derivatives |
| --- | --- |

5.4.3.

Financial derivatives

extra

| 5.5. | Other claims |
| --- | --- |

5.5.

Other claims

extra

| 3. | Table 5 is replaced by the following:
  ‘Table 5
  Annual national contributions to the euro area international investment position (5) | Assets | Liabilities | Net |
| --- | --- | --- | --- | --- |
| I. | Direct investment |

3.

Table 5 is replaced by the following:

‘Table 5

Annual national contributions to the euro area international investment position (5)

Assets

Liabilities

Net

I.

extra

| 1.1. | Abroad |
| --- | --- |

1.1.

Abroad

extra

| 1.1.1. | — | Equity and reinvested earnings |
| --- | --- | --- |

1.1.1.

—

Equity and reinvested earnings

extra

| 1.1.1.1. | MFIs (excluding central banks) |
| --- | --- |

1.1.1.1.

MFIs (excluding central banks)

extra

| 1.1.1.2. | Other sectors |
| --- | --- |

1.1.1.2.

Other sectors

extra

of which:

| 1.1.1.A | Equity stocks in foreign listed companies (market values) |
| --- | --- |

1.1.1.A

Equity stocks in foreign listed companies (market values)

extra

| 1.1.1.B | Equity stocks in foreign unlisted companies (book value) |
| --- | --- |

1.1.1.B

Equity stocks in foreign unlisted companies (book value)

extra

Memorandum item:

Equity stocks in foreign listed companies (book values)

extra

| 1.1.2. | — | Other capital |
| --- | --- | --- |

1.1.2.

—

Other capital

extra

| 1.1.2.1. | MFIs (excluding central banks) |
| --- | --- |

1.1.2.1.

MFIs (excluding central banks)

extra

| 1.1.2.2. | Other sectors |
| --- | --- |

1.1.2.2.

Other sectors

extra

| 1.2. | In the reporting economy |
| --- | --- |

1.2.

In the reporting economy

extra

| 1.2.1. | — | Equity and reinvested earnings |
| --- | --- | --- |

1.2.1.

—

Equity and reinvested earnings

extra

| 1.2.1.1. | MFIs (excluding central banks) |
| --- | --- |

1.2.1.1.

MFIs (excluding central banks)

extra

| 1.2.1.2. | Other sectors |
| --- | --- |

1.2.1.2.

Other sectors

extra

of which:

| 1.2.1.A | Equity stocks in euro area listed companies (market values) |
| --- | --- |

1.2.1.A

Equity stocks in euro area listed companies (market values)

extra

| 1.2.1.B | Equity stocks in euro area unlisted companies (book values) |
| --- | --- |

1.2.1.B

Equity stocks in euro area unlisted companies (book values)

extra

Memorandum item:

Equity stocks in euro area listed companies (book values)

extra

| 1.2.2. | — | Other capital |
| --- | --- | --- |

1.2.2.

—

Other capital

extra

| 1.2.2.1. | MFIs (excluding central banks) |
| --- | --- |

1.2.2.1.

MFIs (excluding central banks)

extra

| 1.2.2.2. | Other sectors |
| --- | --- |

1.2.2.2.

Other sectors

extra

| II. | Portfolio Investment |
| --- | --- |

II.

national

| 2.1. | Equity securities |
| --- | --- |

2.1.

Equity securities

intra/extra

national

of which: Investment funds and money market funds shares

intra/extra

national

| (i) | held by monetary authorities |
| --- | --- |

(i)

extra

| (ii) | held by general government |
| --- | --- |

(ii)

extra

| (iii) | held by MFIs (excluding central banks) |
| --- | --- |

(iii)

extra

| (iv) | held by other sectors |
| --- | --- |

(iv)

extra

| 2.1.1. | Held by monetary authorities |
| --- | --- |

2.1.1.

Held by monetary authorities

extra

| 2.1.2. | Held by general government |
| --- | --- |

2.1.2.

Held by general government

extra

| 2.1.3. | Issued by MFIs (excluding central banks) |
| --- | --- |

2.1.3.

Issued by MFIs (excluding central banks)

intra

national

| 2.1.4. | Held by MFIs (excluding central banks) |
| --- | --- |

2.1.4.

Held by MFIs (excluding central banks)

extra

| 2.1.5. | Issued by other sectors |
| --- | --- |

2.1.5.

Issued by other sectors

intra

national

| 2.1.6. | Held by other sectors |
| --- | --- |

2.1.6.

Held by other sectors

extra

| 2.2. | Debt securities |
| --- | --- |

2.2.

Debt securities

intra/extra

national

| 2.2.1. | Bonds and notes |
| --- | --- |

2.2.1.

Bonds and notes

intra/extra

national

| 2.2.1.1. | Issued by monetary authorities |
| --- | --- |

2.2.1.1.

Issued by monetary authorities

intra

national

| 2.2.1.2. | Held by monetary authorities |
| --- | --- |

2.2.1.2.

Held by monetary authorities

extra

| 2.2.1.3. | Issued by general government |
| --- | --- |

2.2.1.3.

Issued by general government

intra

national

| 2.2.1.4. | Held by general government |
| --- | --- |

2.2.1.4.

Held by general government

extra

| 2.2.1.5. | Issued by MFIs (excluding central banks) |
| --- | --- |

2.2.1.5.

Issued by MFIs (excluding central banks)

intra

national

| 2.2.1.6. | Held by MFIs (excluding central banks) |
| --- | --- |

2.2.1.6.

Held by MFIs (excluding central banks)

extra

| 2.2.1.7. | Issued by other sectors |
| --- | --- |

2.2.1.7.

Issued by other sectors

intra

national

| 2.2.1.8. | Held by other sectors |
| --- | --- |

2.2.1.8.

Held by other sectors

extra

| 2.2.2. | Money market instruments |
| --- | --- |

2.2.2.

Money market instruments

intra/extra

national

| 2.2.2.1. | Issued by monetary authorities |
| --- | --- |

2.2.2.1.

Issued by monetary authorities

intra

national

| 2.2.2.2. | Held by monetary authorities |
| --- | --- |

2.2.2.2.

Held by monetary authorities

extra

| 2.2.2.3. | Issued by general government |
| --- | --- |

2.2.2.3.

Issued by general government

intra

national

| 2.2.2.4. | Held by general government |
| --- | --- |

2.2.2.4.

Held by general government

extra

| 2.2.2.5. | Issued by MFIs (excluding central banks) |
| --- | --- |

2.2.2.5.

Issued by MFIs (excluding central banks)

intra

national

| 2.2.2.6. | Held by MFIs (excluding central banks) |
| --- | --- |

2.2.2.6.

Held by MFIs (excluding central banks)

extra

| 2.2.2.7. | Issued by other sectors |
| --- | --- |

2.2.2.7.

Issued by other sectors

intra

national

| 2.2.2.8. | Held by other sectors |
| --- | --- |

2.2.2.8.

Held by other sectors

extra

| III. | Financial derivatives |
| --- | --- |

III.

extra

extra

extra

| 3.1. | Monetary authorities |
| --- | --- |

3.1.

Monetary authorities

extra

extra

extra

| 3.2. | General government |
| --- | --- |

3.2.

General government

extra

extra

extra

| 3.3. | MFIs (excluding central banks) |
| --- | --- |

3.3.

MFIs (excluding central banks)

extra

extra

extra

| 3.4. | Other sectors |
| --- | --- |

3.4.

Other sectors

extra

extra

extra

| IV. | Other investment |
| --- | --- |

IV.

extra

extra

extra

| 4.1. | Monetary authorities |
| --- | --- |

4.1.

Monetary authorities

extra

extra

| 4.1.1. | Loans/currency and deposits |
| --- | --- |

4.1.1.

Loans/currency and deposits

extra

extra

| 4.1.2. | Other assets/liabilities |
| --- | --- |

4.1.2.

Other assets/liabilities

extra

extra

| 4.2. | General government |
| --- | --- |

4.2.

General government

extra

extra

| 4.2.1. | Trade credits |
| --- | --- |

4.2.1.

Trade credits

extra

extra

| 4.2.2. | Loans/currency and deposits |
| --- | --- |

4.2.2.

Loans/currency and deposits

extra

extra

| 4.2.2.1. | Loans |
| --- | --- |

4.2.2.1.

Loans

extra

| 4.2.2.2. | Currency and deposits |
| --- | --- |

4.2.2.2.

Currency and deposits

extra

| 4.2.3. | Other assets/liabilities |
| --- | --- |

4.2.3.

Other assets/liabilities

extra

extra

| 4.3. | MFIs (excluding central banks) |
| --- | --- |

4.3.

MFIs (excluding central banks)

extra

extra

| 4.3.1. | Loans/currency and deposits |
| --- | --- |

4.3.1.

Loans/currency and deposits

extra

extra

| 4.3.2. | Other assets/liabilities |
| --- | --- |

4.3.2.

Other assets/liabilities

extra

extra

| 4.4. | Other sectors |
| --- | --- |

4.4.

Other sectors

extra

extra

| 4.4.1. | Trade credits |
| --- | --- |

4.4.1.

Trade credits

extra

extra

| 4.4.2. | Loans/currency and deposits |
| --- | --- |

4.4.2.

Loans/currency and deposits

extra

extra

| 4.4.2.1. | Loans |
| --- | --- |

4.4.2.1.

Loans

extra

| 4.4.2.2. | Currency and deposits |
| --- | --- |

4.4.2.2.

Currency and deposits

extra

| 4.4.3. | Other assets/liabilities |
| --- | --- |

4.4.3.

Other assets/liabilities

extra

extra

| V. | Reserve assets |
| --- | --- |

V.

extra

| 5.1. | Monetary gold |
| --- | --- |

5.1.

Monetary gold

extra

| 5.2. | Special drawing rights |
| --- | --- |

5.2.

Special drawing rights

extra

| 5.3. | Reserve position in the IMF |
| --- | --- |

5.3.

Reserve position in the IMF

extra

| 5.4. | Foreign exchange |
| --- | --- |

5.4.

Foreign exchange

extra

| 5.4.1. | Currency and deposits |
| --- | --- |

5.4.1.

Currency and deposits

extra

| 5.4.1.1. | with monetary authorities and the BIS |
| --- | --- |

5.4.1.1.

with monetary authorities and the BIS

extra

| 5.4.1.2. | with MFIs (excluding central banks) |
| --- | --- |

5.4.1.2.

with MFIs (excluding central banks)

extra

| 5.4.2. | Securities |
| --- | --- |

5.4.2.

Securities

extra

| 5.4.2.1. | Equities |
| --- | --- |

5.4.2.1.

Equities

extra

| 5.4.2.2. | Bonds and notes |
| --- | --- |

5.4.2.2.

Bonds and notes

extra

| 5.4.2.3. | Money market instruments |
| --- | --- |

5.4.2.3.

Money market instruments

extra

| 5.4.3. | Financial derivatives |
| --- | --- |

5.4.3.

Financial derivatives

extra

| 5.5. | Other claims |
| --- | --- |

5.5.

Other claims

extra

| 4. | Table 9 is replaced by the following:
  ‘Table 9
  ECB geographical breakdowns for quarterly balance of payments flows and annual international investment position data






  — | Denmark |
| --- | --- | --- |

4.

Table 9 is replaced by the following:

‘Table 9

ECB geographical breakdowns for quarterly balance of payments flows and annual international investment position data

—

Denmark

| — | Sweden |
| --- | --- |

—

Sweden

| — | United Kingdom |
| --- | --- |

—

United Kingdom

| — | EU Member States outside the euro area and excluding Denmark, Sweden and the United Kingdom (6) |
| --- | --- |

—

EU Member States outside the euro area and excluding Denmark, Sweden and the United Kingdom (6)

| — | EU institutions (7) |
| --- | --- |

—

EU institutions (7)

| — | Switzerland |
| --- | --- |

—

Switzerland

| — | Canada |
| --- | --- |

—

Canada

| — | United States |
| --- | --- |

—

United States

| — | Japan |
| --- | --- |

—

Japan

| — | Offshore centres (8)







  — | of which: Hong Kong |
| --- | --- | --- |

—

Offshore centres (8)

—

of which: Hong Kong

| — | International organisations excluding the EU institutions (9) |
| --- | --- |

—

International organisations excluding the EU institutions (9)

| — | Brazil |
| --- | --- |

—

Brazil

| — | China |
| --- | --- |

—

China

| — | India |
| --- | --- |

—

India

| — | Russian Federation’ |
| --- | --- |

—

Russian Federation’

| 5. | Table 13 is amended by inserting the following rows at the end of the Table:








  ‘Income on equity breakdown |
| --- | --- |
| Quarterly b.o.p.
  Items I. C.2.1.1.1 and C.2.1.1.2 (10) | Q4 2007 | March 2008 | Annex III, Table 2 |
| Income on other investment breakdown |
| Quarterly b.o.p.
  Items I. C.2.3.1 to C.2.3.3 (10) | Q4 2008 | March 2009 | Annex III, Table 2 |
| Memorandum items 1 to 4 (10) | Q4 2008 | March 2009 | Annex III, Table 2 |
| Current transfer breakdown |
| Quarterly b.o.p.
  Items I. D.1, D.2, D.2.1 and D.2.2 (10) | Q4 2007 | March 2008 | Annex III, Table 2 |
| Items I. D.1.1 to D.1.8 and D.2.2.1 to D 2.2.11 (10) | Q4 2008 | March 2009 | Annex III, Table 2 |
| Capital account breakdown |
| Quarterly b.o.p.
  Items II.A and II.B (10) | Q4 2007 | March 2008 | Annex III, Table 2 |
| Items II.A.1 and II.A.2 (10) | Q4 2008 | March 2009 | Annex III, Table 2 |
| Portfolio investment — equity securities — investment funds and money market funds shares |
| Quarterly b.o.p. | Q1 2010 | June 2010 | Annex III, Table 2 |
| Quarterly i.i.p. | Q1 2010 | June 2010 | Annex III, Table 4 |
| Annual i.i.p. | End December 2009 | June 2010 | Annex III, Table 5' |

5.

Table 13 is amended by inserting the following rows at the end of the Table:

‘Income on equity breakdown

Quarterly b.o.p.

Items I. C.2.1.1.1 and C.2.1.1.2 (10)

Q4 2007

March 2008

Annex III, Table 2

Income on other investment breakdown

Quarterly b.o.p.

Items I. C.2.3.1 to C.2.3.3 (10)

Q4 2008

March 2009

Annex III, Table 2

Memorandum items 1 to 4 (10)

Q4 2008

March 2009

Annex III, Table 2

Current transfer breakdown

Quarterly b.o.p.

Items I. D.1, D.2, D.2.1 and D.2.2 (10)

Q4 2007

March 2008

Annex III, Table 2

Items I. D.1.1 to D.1.8 and D.2.2.1 to D 2.2.11 (10)

Q4 2008

March 2009

Annex III, Table 2

Capital account breakdown

Quarterly b.o.p.

Items II.A and II.B (10)

Q4 2007

March 2008

Annex III, Table 2

Items II.A.1 and II.A.2 (10)

Q4 2008

March 2009

Annex III, Table 2

Portfolio investment — equity securities — investment funds and money market funds shares

Quarterly b.o.p.

Q1 2010

June 2010

Annex III, Table 2

Quarterly i.i.p.

Q1 2010

June 2010

Annex III, Table 4

Annual i.i.p.

End December 2009

June 2010

Annex III, Table 5'

---

(1)

| “extra” | means transactions with non-euro area residents (for portfolio investment assets and related income it refers to the residency of the issuers) |
| --- | --- |
| “intra” | means transactions between different Member States of the euro area |
| “national” | means all cross-border transactions by residents of a participating Member State (used only in connection with liabilities on portfolio investment accounts and the net balance of the financial derivatives accounts) |

“extra”

means transactions with non-euro area residents (for portfolio investment assets and related income it refers to the residency of the issuers)

“intra”

means transactions between different Member States of the euro area

“national”

means all cross-border transactions by residents of a participating Member State (used only in connection with liabilities on portfolio investment accounts and the net balance of the financial derivatives accounts)

(2)  Financial intermediation services indirectly measured.

(3)  System of National Accounts 1993.’

(4)

| “extra” | means positions with non-euro area residents (for portfolio investment assets, it refers to the residency of the issuers) |
| --- | --- |
| “intra” | means positions between different Member States of the euro area |
| “national” | means all cross-border positions by residents of a participating Member State (used only in connection with liabilities on portfolio investment accounts)’ |

“extra”

means positions with non-euro area residents (for portfolio investment assets, it refers to the residency of the issuers)

“intra”

means positions between different Member States of the euro area

“national”

means all cross-border positions by residents of a participating Member State (used only in connection with liabilities on portfolio investment accounts)’

(5)

| “extra” | means positions with non-euro area residents (for portfolio investment assets, it refers to the residency of the issuers) |
| --- | --- |
| “intra” | means positions between different Member States of the euro area |
| “national” | means all cross-border positions by residents of a participating Member State (used only in connection with liabilities on portfolio investment accounts)’ |

“extra”

means positions with non-euro area residents (for portfolio investment assets, it refers to the residency of the issuers)

“intra”

means positions between different Member States of the euro area

“national”

means all cross-border positions by residents of a participating Member State (used only in connection with liabilities on portfolio investment accounts)’

(6)  No individual breakdown is required.

(7)  See composition in Table 12. No individual breakdown is required.

(8)  Only mandatory for the balance of payments financial account, the related income accounts and the international investment position. Current account (excluding income) flows vis-à-vis offshore centres may be reported either separately or indistinguishably under the residual item category. See composition in Table 11. No individual breakdown is required.

(9)  See composition in Table 12. No individual breakdown is required.

(10)  See Table 2 of Annex III’.

---

ANNEX III

Annex IV to Recommendation ECB/2004/16 is amended as follows:

| 1. | The following text is inserted immediately before Section 1:
  ‘The terms “resident” and “residing” fall within the definitions laid down in Article 1.4 of Council Regulation (EC) No 2533/1998. In the case of the euro area, the economic territory comprises: (i) the economic territory of the participating Member States; and (ii) the ECB, which is regarded as a resident unit of the euro area.
  The rest of the world (RoW) comprises the economic territories outside the euro area, i.e. Member States that have not adopted the euro, all third countries and international organisations, including those physically located within the euro area. All EU institutions (1) are considered to be resident outside the euro area. Consequently, all transactions of participating Member States vis-à-vis EU institutions are recorded and classified as non-euro area transactions in the euro area balance of payments and international investment position statistics.
  In the cases set out below, residence is determined as follows:






  (a) | staff from embassies and military bases are to be classified as residents of the country of the employing government, except if they have been recruited locally in the host country where the embassy or military base is located; |
| --- | --- | --- |

1.

The following text is inserted immediately before Section 1:

‘The terms “resident” and “residing” fall within the definitions laid down in Article 1.4 of Council Regulation (EC) No 2533/1998. In the case of the euro area, the economic territory comprises: (i) the economic territory of the participating Member States; and (ii) the ECB, which is regarded as a resident unit of the euro area.

The rest of the world (RoW) comprises the economic territories outside the euro area, i.e. Member States that have not adopted the euro, all third countries and international organisations, including those physically located within the euro area. All EU institutions (1) are considered to be resident outside the euro area. Consequently, all transactions of participating Member States vis-à-vis EU institutions are recorded and classified as non-euro area transactions in the euro area balance of payments and international investment position statistics.

In the cases set out below, residence is determined as follows:

(a)

staff from embassies and military bases are to be classified as residents of the country of the employing government, except if they have been recruited locally in the host country where the embassy or military base is located;

| (b) | when undertaking cross-border transactions in land and/or buildings (e.g. holiday homes), property owners are treated as if they have transferred their ownership to a notional institutional unit that is actually resident in the country where the property is located. The notional unit is treated as being owned and controlled by the non-resident owner; |
| --- | --- |

(b)

when undertaking cross-border transactions in land and/or buildings (e.g. holiday homes), property owners are treated as if they have transferred their ownership to a notional institutional unit that is actually resident in the country where the property is located. The notional unit is treated as being owned and controlled by the non-resident owner;

| (c) | in the absence of any significant physical dimension to a legal entity, e.g. investment funds (as distinct from their managers), securitisation vehicles, and some special purpose entities, its residence is determined by the economic territory under whose laws the entity is incorporated. If the entity is not incorporated, legal domicile is used as a criterion, namely the country whose legal system governs the creation and continued existence of the entity.’ |
| --- | --- |

(c)

in the absence of any significant physical dimension to a legal entity, e.g. investment funds (as distinct from their managers), securitisation vehicles, and some special purpose entities, its residence is determined by the economic territory under whose laws the entity is incorporated. If the entity is not incorporated, legal domicile is used as a criterion, namely the country whose legal system governs the creation and continued existence of the entity.’

| 2. | In the third paragraph of subsection 1.1, the second sentence (‘The main difference is that the ECB does not require a breakdown of direct investment income on equity into distributed and undistributed profits.’) is deleted. |
| --- | --- |

2.

In the third paragraph of subsection 1.1, the second sentence (‘The main difference is that the ECB does not require a breakdown of direct investment income on equity into distributed and undistributed profits.’) is deleted.

| 3. | The second paragraph of subsection 1.2 (‘While the IMF's standard components of the capital account consist of a sectoral breakdown into the items “general government” and “other sectors” (with a further breakdown thereafter), the ECB compiles only a lump-sum capital account, without any breakdown.’) is deleted. |
| --- | --- |

3.

The second paragraph of subsection 1.2 (‘While the IMF's standard components of the capital account consist of a sectoral breakdown into the items “general government” and “other sectors” (with a further breakdown thereafter), the ECB compiles only a lump-sum capital account, without any breakdown.’) is deleted.

---

(1)  The ECB is not included.

---

ANNEX IV

Annex VII to Recommendation ECB/2004/16 is amended as follows:

| 1. | In the third paragraph, the second sentence (‘Therefore, if the “project closure document” for Phase 1 of the CSDB project is not submitted to the Governing Council via the Statistics Committee of the European System of Central Banks by the end of March 2005, this deadline will be postponed by the same amount of time as that by which the submission is late.’) is deleted. |
| --- | --- |

1.

In the third paragraph, the second sentence (‘Therefore, if the “project closure document” for Phase 1 of the CSDB project is not submitted to the Governing Council via the Statistics Committee of the European System of Central Banks by the end of March 2005, this deadline will be postponed by the same amount of time as that by which the submission is late.’) is deleted.

| 2. | The sentence starting ‘From March 2008’ and ending ‘in the following table’ is replaced by the following sentence:
  ‘From the date specified in paragraph 1.6 of Annex I, and taking into account the phasing-in option referred to in that paragraph, euro area portfolio investment collection systems conform to one of the models in the following table:’. |
| --- | --- |

2.

The sentence starting ‘From March 2008’ and ending ‘in the following table’ is replaced by the following sentence:

‘From the date specified in paragraph 1.6 of Annex I, and taking into account the phasing-in option referred to in that paragraph, euro area portfolio investment collection systems conform to one of the models in the following table:’.

---