Guideline (EU) 2016/231 of the European Central Bank of 26 November 2015 amending Guideline ECB/2011/23 on the statistical reporting requirements of the European Central Bank in the field of external statistics (ECB/2015/39)
Date: 2015-11-26
Institutions: European Central Bank
Subjects: European System of Central Banks, balance of payments, data collection, disclosure of information, economic statistics, euro, euro area, foreign-exchange reserves, market intervention, paper money




L_2016041EN.01002801.xml










18.2.2016   


EN


Official Journal of the European Union


L 41/28








            GUIDELINE (EU) 2016/231 OF THE EUROPEAN CENTRAL BANK
         
of 26 November 2015
         
amending Guideline ECB/2011/23 on the statistical reporting requirements of the European Central Bank in the field of external statistics (ECB/2015/39)


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 3.1 and 3.3, Articles 5.1, 12.1, 14.3 and Article 16 thereof,


Having regard to Council Regulation (EC) No 2533/98 of 23 November 1998 concerning the collection of statistical information by the European Central Bank (1), and in particular Articles 4 and 8 thereof,

Whereas:







(1)


External statistics are increasingly used for purposes other than monetary policy, including macro-prudential analysis and monitoring of excessive economic imbalances. These activities, as well as other activities in the area of international cooperation and research, will be facilitated by the European Central Bank's publication of the euro area aggregates compiled on the basis of Guideline ECB/2011/23 (2) and of the national data collected in this respect.












(2)


Given the balance between merit and costs, the reduction of the reporting period for the transmission of quarterly balance of payments and international investment position data due to apply from 2019 under Guideline ECB/2011/23, will no longer be applied.












(3)


Therefore, Guideline ECB/2011/23 should be amended accordingly,





HAS ADOPTED THIS GUIDELINE:



Article 1

Amendments

Guideline ECB/2011/23 is amended as follows:






(1)


in Article 1, the following definition is added:






‘(17)


“publishable national data sets” means the data corresponding to Tables 2A and 4A of Annex II, which are subsets of the data presented, respectively, in Tables 2 and 4 of Annex II.’;














(2)


Article 2 is amended as follows:






(a)


paragraph 1 is replaced by the following:

‘1.   The NCBs shall make available to the ECB data on the international transactions, positions and revaluations, as well as on the stocks of reserve assets, other foreign currency assets and reserve-related liabilities. The data shall be made available as defined in Tables 1 to 5 of Annex II and in accordance with the deadlines defined in Article 3.’;











(b)


the following paragraph 1a is inserted:

‘1a.   The subsets presented in Tables 2A and 4A of Annex II shall be made available to the ECB with the submission of data presented, respectively, in Table 2 and 4 of the same Annex. These include quarterly international transactions and positions which shall be transmitted in accordance with the deadlines defined for the quarterly balance of payments and international investment position set out in Article 3.’;















(3)


Article 3(2) is amended as follows:






(a)


point (b) is replaced by the following:






‘(b)


the 82nd calendar day following the end of the quarter to which the data relate, from 2017 onwards.’;














(b)


point (c) is deleted;














(4)


the following Article 3a is inserted:

‘Article 3a
Transmission and publication of data by the ECB

1.   The ECB shall transmit to the NCBs the euro area aggregates it publishes, as well as the publishable national data sets collected under Article 2.


2.   The ECB may publish publishable national data sets following the publication of the respective euro area aggregates.’;












(5)


in Article 6, paragraph 3 is replaced by the following:

‘3.   Where the data for an item in Tables 1 to 5 of Annex II are of negligible or of insignificant size for euro area and national statistics, or the data for that item cannot be collected at reasonable cost, best estimates based on sound statistical methodologies shall be permitted provided the analytical value of the statistics is not compromised. In addition, best estimates shall be permitted for the following breakdowns in Tables 1, 2, 2A and 6 of Annex II:






(a)


sub-items of primary income on other investment;










(b)


sub-items of other primary income and of secondary income;










(c)


sub-items of capital transfers in the capital account;










(d)


geographical breakdown of financial derivatives liabilities;










(e)


reinvested earnings credits on investment funds shares without an ISIN code;










(f)


investment income credits on investment funds shares with an ISIN code (until the CSDB is deemed fit for the appropriate derivation of this item);










(g)


breakdown of cross-border banknote shipments by denomination.’;















(6)


Annexes I and II are amended in accordance with the Annex to this Guideline.






Article 2

Taking effect and implementation


1.   This Guideline shall take effect on the day of its notification to the national central banks of the Member States whose currency is the euro.


2.   The Eurosystem central banks shall comply with this Guideline from 1 June 2016.



Article 3

Addressees

This Guideline is addressed to all Eurosystem central banks.




Done at Frankfurt am Main, 26 November 2015.


For the Governing Council of the ECB


The President of the ECB

Mario DRAGHI
            





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

(2)  Guideline ECB/2011/23 of 9 December 2011 on the statistical reporting requirements of the European Central Bank in the field of external statistics (OJ L 65, 3.3.2012, p. 1).




ANNEX
Annexes I and II to Guideline ECB/2011/23 are amended as follows:






(1)


Annex I is amended as follows:






(a)


Section 1.2 is replaced by the following:
‘1.2.   Quarterly balance of payments statistics

Objective
The objective of the quarterly balance of payments of the euro area is to provide more detailed information to permit further analysis of international transactions. Quarterly balance of payments data are also the basis for detailed country economic monitoring.
These statistics notably contribute to the compilation of the euro area sectoral and financial accounts and to the joint publication of Union/euro area balance of payments in cooperation with the European Commission (Eurostat).
Requirements
Quarterly balance of payments statistics conform as far as possible to international standards (see Article 2(4) of this Guideline). The required breakdown of quarterly balance of payments statistics is presented in Annex II, Tables 2 and 2A. Harmonised concepts and definitions used in the capital and financial accounts are set out in Annex III.
The breakdown of the quarterly current account is similar to the one required for the monthly figures. However, for income a more detailed breakdown is needed on a quarterly basis.
In the financial account, the ECB follows the requirements of the sixth edition of the International Monetary Fund (IMF) Balance of Payments and International Investment Position Manual (hereinafter the “BPM6”) for the “other investment” item. There is a difference in the presentation of the breakdown (i.e. sector as first priority). This sectoral breakdown is however compatible with the breakdown of the BPM6 where instruments have priority. As in the BPM6 presentation, currency and deposits are distinguished from loans and other investments.
NCBs are required to distinguish between transactions with euro area Member States and all other international transactions. The statistics on net transactions in portfolio investment assets of the euro area are compiled by aggregating reported net transactions in securities issued by non-euro area residents. Statistics on net transactions in portfolio investment liabilities of the euro area are compiled by consolidation of net transactions in total national liabilities and net transactions in securities issued and purchased by euro area residents.
An analogous reporting requirement and compilation method for the aggregate data are applied for portfolio investment income.
For direct investment NCBs are required to submit quarterly the following sectoral breakdown: (a) deposit-taking corporations except the central bank; (b) general government; (c) financial corporations other than MFIs; (d) non-financial corporations, households and non-profit institutions serving households. For the “portfolio investment assets” and “other investment” items the breakdown of reports according to institutional sectors follows the standard components of the IMF comprising (a) central bank; (b) deposit-taking corporations except the central bank; (c) money market funds; (d) general government; (e) financial corporations other than MFIs; (f) non-financial corporations, households, and non-profit institutions serving households.
For compiling the statistics on euro area net transactions in portfolio investment liabilities by sector of the euro area resident issuers, the requirements for quarterly data are similar to those for monthly balance of payments.
In line with the system of national accounts, the BPM6 recommends that interest should be recorded on an accruals basis. This requirement affects the current account (investment income) as well as the financial account.’;










(b)


Section 3 is replaced by the following:
‘3.   International investment position statistics

Objective
The international investment position is a statement of the external assets and liabilities of the euro area as a whole, for monetary policy and exchange market analysis. In particular, it contributes to the assessment of the Member States' external vulnerability and to monitoring the developments in holdings of liquid assets abroad by the money-holding sector. This statistical information is key to the compilation of the rest of the world account in the euro area quarterly financial accounts and may also assist in the compilation of balance of payments flows. Quarterly international investment position statistics are also the basis for detailed country economic monitoring.
Requirements
The NCBs must deliver international investment position statistics on a quarterly basis in respect of end-of-period stock levels and revaluations due to exchange rate or other price changes.
The international investment position data conform as far as possible with international standards (see Article 2(4) of this Guideline). The ECB compiles the international investment position for the euro area as a whole. The breakdown of the international investment position for the euro area is presented in Annex II, Tables 4 and 4A.
The international investment position shows financial stocks at the end of the reference period, valued at end-period prices. Changes in the value of stocks could be due to the following factors. First, part of the change in the value during the reference period will be due to the financial transactions that have taken place and been recorded in the balance of payments. Second, part of the changes in positions at the beginning and at the end of a given period will be caused by changes in the prices of the financial assets and liabilities shown. Third, in the event that stocks are denominated in currencies other than the unit of account used for the international investment position, changes in the exchange rates vis-à-vis other currencies will also affect the values. Finally, any other change which is not due to the above factors will be considered as due to other changes in volume during the period.
A proper reconciliation between the financial flows and stocks of the euro area requires changes in value owing to price, to exchange rate changes and to other changes in volume to be distinguished.
Coverage of the international investment position should be as close as possible to that for quarterly balance of payments flows. The concepts, definitions and breakdowns are in line with those used for quarterly balance of payments flows.
As far as possible, data on the international investment position should be consistent with other statistics, such as money and banking statistics, financial accounts and national accounts.
As for the monthly and quarterly balance of payments, NCBs are required to distinguish in their international investment position statistics between holdings vis-à-vis euro area Member States and all other international positions. A distinction between holdings in securities issued by euro area residents and in securities issued by non-euro area residents is required in the portfolio investment accounts. Statistics on net assets in portfolio investment of the euro area are compiled by aggregating reported net assets in securities issued by non-euro area residents. Statistics on net liabilities in portfolio investment of the euro area are compiled by consolidation of net total national liabilities and net holdings in securities issued and purchased by euro area residents.
Portfolio investment assets and liabilities within the international investment position are compiled purely from stock data.
NCBs (and other competent statistical authorities where appropriate) collect, as a minimum, quarterly portfolio investment stocks of assets and liabilities on a security-by-security basis according to one of the models set out in the table contained in Annex VI.’;














(2)


Annex II is amended as follows:






(a)


Table 2 is replaced by the following:

‘Table 2


Quarterly balance of payments









 


Credit


Debit












1.


Current account
 (1)






 


 







Goods



Geo 4 (2)



Geo 4




General merchandise on a balance of payments (BOP) basis


Geo 3


Geo 3






Net exports of goods under merchanting


Geo 3


 




Goods acquired under merchanting (negative credit)


Geo 3


 




Goods sold under merchanting


Geo 3


 




Non-monetary gold


Geo 3


Geo 3




Branding — quasi-transit trade adjustment


Geo 4


Geo 4







Services



Geo 4


Geo 4




Manufacturing services on physical inputs owned by others


Geo 4


Geo 4




Maintenance and repair services not included elsewhere (n.i.e.)


Geo 4


Geo 4




Transport


Geo 4


Geo 4




Travel


Geo 4


Geo 4




Construction


Geo 4


Geo 4




Insurance and pension services


Geo 4


Geo 4






Financial services


Geo 4


Geo 4




Explicitly charged and other financial services


Geo 3


Geo 3




Financial intermediation services indirectly measured (FISIM)


Geo 3


Geo 3




Charges for the use of intellectual property n.i.e.


Geo 4


Geo 4




Telecommunications, computer, and information services


Geo 4


Geo 4






Other business services


Geo 4


Geo 4




Research and development services


Geo 3


Geo 3




Professional and management consulting services


Geo 3


Geo 3




Technical, trade-related, and other business services


Geo 3


Geo 3




Personal, cultural and recreational services


Geo 4


Geo 4




Government goods and services n.i.e.


Geo 4


Geo 4







Primary income



 


 




Compensation of employees


Geo 4


Geo 4






Investment income


 


 






Direct investment


 


 






Equity


Geo 4


Geo 4






Dividends and withdrawals from income of quasi-corporations


 


 





In direct investment enterprises



Geo 3


Geo 3





In direct investor (reverse investment)



Geo 3


Geo 3





Between fellow enterprises



Geo 3


Geo 3




By resident sector (Sec 2) (3)



Geo 2


Geo 2






Reinvested earnings


Geo 4


Geo 4




By resident sector (Sec 2)


Geo 2


Geo 2






Debt instruments


Geo 4


Geo 4





In direct investment enterprises



Geo 3


Geo 3





In direct investor (reverse investment)



Geo 3


Geo 3





Between fellow enterprises



Geo 3


Geo 3







Of which: interest


 


 




By resident sector (Sec 2)


Geo 2


Geo 2






Portfolio investment


 


 






Equity and investment fund shares


Geo 4


Geo 1






Equity securities


 


 






Dividends


 


 




By resident sector (Sec 2)


Geo 3


Geo 1




By counterpart issuer sector (Sec 2)


Geo 2


 






Investment fund shares


 


 






Dividends


 


 




By resident sector (Sec 2)


Geo 3


Geo 1




By counterpart issuer sector (Sec 2)


Geo 2


 






Reinvested earnings


 


 




By resident sector (Sec 2)


Geo 3


Geo 1




By counterpart issuer sector (Sec 2)


Geo 2


 






Debt securities


 


 






Short-term


Geo 4


Geo 1






Interest


 


 




By resident sector (Sec 2)


Geo 3


Geo 1




By counterpart issuer sector (Sec 2)


Geo 2


 






Long-term


Geo 4


Geo 1






Interest


 


 




By resident sector (Sec 2)


Geo 3


Geo 1




By counterpart issuer sector (Sec 2)


Geo 2


 






Other investment


Geo 4


Geo 4




Withdrawals from income of quasi-corporations


Geo 3


Geo 3






Interest


Geo 3


Geo 3




By resident sector (Sec 2)


Geo 2


Geo 2





Of which: interest on SDRs


 


Geo 1







Of which: interest before FISIM


Geo 3


Geo 3




By resident sector (Sec 2)


Geo 2


Geo 2






Investment income attributable to policyholders in insurance, pension schemes, and standardised guarantee schemes


Geo 3


Geo 3




By resident sector (Sec 2)


Geo 2


Geo 2






Reserve assets


Geo 3


 





Of which: interest


Geo 3


 






Other primary income


Geo 4


Geo 4






General government


Geo 3


Geo 3






Taxes on production and on imports


Geo 3/Union institutions


Geo 3/Union institutions




Taxes on products


Geo 3/Union institutions


Geo 3/Union institutions




Other taxes on production


Geo 3/Union institutions


Geo 3/Union institutions






Subsidies


Geo 3/Union institutions


Geo 3/Union institutions




Subsidies on products


Geo 3/Union institutions


Geo 3/Union institutions




Other subsidies on production


Geo 3/Union institutions


Geo 3/Union institutions




Rents


Geo 3


Geo 3






Other sectors


Geo 3


Geo 3






Taxes on production and on imports


Geo 3/Union institutions


Geo 3/Union institutions




Taxes on products


Geo 3/Union institutions


Geo 3/Union institutions




Other taxes on production


Geo 3/Union institutions


Geo 3/Union institutions






Subsidies


Geo 3/Union institutions


Geo 3/Union institutions




Subsidies on products


Geo 3/Union institutions


Geo 3/Union institutions




Other subsidies on production


Geo 3/Union institutions


Geo 3/Union institutions




Rents


Geo 3


Geo 3







Secondary income



Geo 4


Geo 4






General government


Geo 3


Geo 3




Current taxes on income, wealth, etc.


Geo 3


Geo 3




Social contributions


Geo 3


Geo 3




Social benefits


Geo 3


Geo 3






Current international cooperation


Geo 3


Geo 3





Of which: vis-à-vis the Union institutions (excluding the ECB)


Union institutions


Union institutions




Miscellaneous current transfers


Geo 3


Geo 3




Value added tax and gross national income-based Union own resources


Union institutions


Union institutions






Other sectors


Geo 3


Geo 3




Current taxes on income, wealth, etc.


Geo 3


Geo 3




Social contributions


Geo 3


Geo 3




Social benefits


Geo 3


Geo 3




Net non-life insurance premiums


Geo 3


Geo 3




Non-life insurance claims


Geo 3


Geo 3






Miscellaneous current transfers


Geo 3


Geo 3







Of which: Personal transfers (between resident and non-resident households)


Geo 3


Geo 3





Of which: workers' remittances


Geo 4


Geo 4




Adjustment for change in pension entitlements


Geo 3


Geo 3












2.


Capital account






Geo 4


Geo 4




Gross acquisitions/disposals of non-produced non-financial assets


Geo 3


Geo 3






Capital transfers


Geo 3


Geo 3






General government


Geo 3


Geo 3




Capital taxes


Geo 3


Geo 3




Investment grants


Geo 3


Geo 3






Other capital transfers


Geo 3


Geo 3





Of which: debt forgiveness


Geo 3


Geo 3






Other sectors


Geo 3


Geo 3




Capital taxes


Geo 3


Geo 3




Investment grants


Geo 3


Geo 3






Other capital transfers


Geo 3


Geo 3





Of which: debt forgiveness


Geo 3


Geo 3




 


Net acquisition of financial assets


Net incurrence of liabilities


Net












3.


Financial account






Geo 1


Geo 1


 







Direct investment



Geo 4


Geo 4


 






Equity and investment funds shares


Geo 4


Geo 4


 












a.


Equity






Geo 2


Geo 2


 




Listed


Geo 2


Geo 2


 




Unlisted


Geo 2


Geo 2


 




Other (e.g. real estate)


Geo 2


Geo 2


 










b.


Investment funds shares






Geo 2


Geo 2


 












1.


Equity other than reinvestment of earnings






 


 


 





In direct investment enterprises



Geo 3


Geo 3


 





In direct investor (reverse investment)



Geo 3


Geo 3


 





Between fellow enterprises



Geo 3


Geo 3


 




By resident sector (Sec 2)


Geo 2


Geo 2


 












2.


Reinvestment of earnings






Geo 4


Geo 4


 




By resident sector (Sec 2)


Geo 2


Geo 2


 






Debt instruments


Geo 4


Geo 4


 





In direct investment enterprises



Geo 3


Geo 3


 





In direct investor (reverse investment)



Geo 3


Geo 3


 





Between fellow enterprises



Geo 3


Geo 3


 




By resident sector (Sec 2)


Geo 2


Geo 2


 







Portfolio investment



Geo 4


Geo 1


 






Equity and investment fund shares


Geo 4


Geo 1


 






Equity securities


 


 


 






By resident sector (Sec 2)


Geo 3


Geo 1


 




Listed


Geo 2


Geo 1


 




Unlisted


Geo 2


Geo 1


 






By counterpart issuer sector (Sec 2)


 


 


 




Listed


Geo 2


 


 




Unlisted


Geo 2


 


 






Investment fund shares


 


 


 






By resident sector (Sec 2)


Geo 3


Geo 1


 





Of which: reinvestment of earnings


Geo 3


Geo 1


 






By counterpart issuer sector (Sec 2)


Geo 2


 


 





Of which: reinvestment of earnings


Geo 2


 


 






Debt securities


 


 


 






Short-term


Geo 4


Geo 1


 




By resident sector (Sec 2)


Geo 3


Geo 1


 




By counterpart issuer sector (Sec 2)


Geo 2


 


 






Long-term


Geo 4


Geo 1


 




By resident sector (Sec 2)


Geo 3


Geo 1


 




By counterpart issuer sector (Sec 2)


Geo 2


 


 







Financial derivatives (other than reserves) and employee stock options



 


 


 




By resident sector (Sec 2)


 


 


Geo 3







Other investment



Geo 4


Geo 4


 




By resident sector (Sec 1)


Geo 4


Geo 4


 




Other equity


Geo 3


Geo 3


 






Currency and deposits


 


 


 






By resident sector (Sec 2)


 


 


 




Short-term


Geo 3


Geo 3


 




Long-term


Geo 3


Geo 3


 






Loans


 


 


 






By resident sector (Sec 2)


 


 


 




Short-term


Geo 3, IMF


Geo 3, IMF


 




Long-term


Geo 3, IMF


Geo 3, IMF


 






Insurance, pension schemes, and standardised guarantee schemes


 


 


 




By resident sector (Sec 2)


Geo 3


Geo 3


 






Trade credits and advances


 


 


 






By resident sector (Sec 2)


 


 


 




Short-term


Geo 3


Geo 3


 




Long-term


Geo 3


Geo 3


 






Other accounts receivable/payable


 


 


 






By resident sector (Sec 2)


 


 


 




Short-term


Geo 3


Geo 3


 




Long-term


Geo 3


Geo 3


 




SDRs


 


Geo 1


 





Reserve assets



Geo 3


 


 












4.


Balancing items






 


 


 




Balance on goods and services


 


 


Geo 4




Current account balance


 


 


Geo 1




Net lending (+)/net borrowing (-) (balance from current and capital account)


 


 


Geo 1




Net lending (+)/net borrowing (-) (from financial account)


 


 


Geo 1




Net errors and omissions


 


 


Geo 1














(b)


the following Table 2A is inserted:

‘Table 2A


Quarterly balance of payments — publishable subset









 


Credit


Debit


Balance/Net












1.


Current account






Geo 2


Geo 1


 







Goods



Geo 2


Geo 2


 




General merchandise on a balance of payments (BOP) basis


Geo 1


Geo 1


 




Net exports of goods under merchanting


Geo 1


 


 







Services



Geo 2


Geo 2


 




Manufacturing services on physical inputs owned by others


Geo 1


Geo 1


 




Maintenance and repair services not included elsewhere (n.i.e.)


Geo 1


Geo 1


 




Transport


Geo 1


Geo 1


 




Travel


Geo 1


Geo 1


 




Construction


Geo 1


Geo 1


 




Insurance and pension services


Geo 1


Geo 1


 




Financial services


Geo 1


Geo 1


 




Charges for the use of intellectual property n.i.e.


Geo 1


Geo 1


 




Telecommunications, computer, and information services


Geo 1


Geo 1


 




Other business services


Geo 1


Geo 1


 




Personal, cultural and recreational services


Geo 1


Geo 1


 




Government goods and services n.i.e.


Geo 1


Geo 1


 




Services not allocated


Geo 1


Geo 1


 







Primary income



Geo 2


Geo 1


 




Compensation of employees


Geo 2


Geo 2


 






Investment income


Geo 2


Geo 1


 




Central bank


Geo 1


Geo 1


 




Other MFIs


Geo 1


Geo 1


 




General government


Geo 1


Geo 1


 






Other sectors


Geo 1


Geo 1


 




Financial corporations other than MFIs


Geo 1


Geo 1


 




Non-financial corporations, households, and NPISHs


Geo 1


Geo 1


 






Direct investment


Geo 2


Geo 2


 






Equity


Geo 2


Geo 2


 




Dividends and withdrawals from income of quasi-corporations


Geo 1


Geo 1


 




Reinvested earnings


Geo 1


Geo 1


 




Debt instruments


Geo 2


Geo 2


 






Portfolio investment


Geo 2


Geo 1


 






Equity and investment fund shares


Geo 2


Geo 1


 




Equity securities dividends


Geo 1


Geo 1


 




Investment fund shares income


Geo 1


Geo 1


 






Debt securities


Geo 2


Geo 1


 




Short-term


Geo 2


Geo 1


 




Long-term


Geo 2


Geo 1


 






Other investment


Geo 2


Geo 2


 






Interest


Geo 1


Geo 1


 




Of which: interest before FISIM


Geo 1


Geo 1


 




Reserve assets


Geo 1


 


 




Other primary income


Geo 2


Geo 2


 







Secondary income



Geo 2


Geo 2


 




General government


Geo 1


Geo 1


 






Other sectors


Geo 1


Geo 1


 




Of which: workers' remittances


Geo 1


Geo 1


 












2.


Capital account






Geo 2


Geo 2


 




Gross acquisitions/disposals of non-produced non-financial assets


Geo 1


Geo 1


 




Capital transfers


Geo 1


Geo 1


 




 


Net acquisition of financial assets


Net incurrence of liabilities


Net












3.


Financial account






Geo 2 (4)



Geo 1


 







Direct investment



Geo 2


Geo 2


 




Other MFIs


Geo 1


Geo 1


 




General government


Geo 1


Geo 1


 






Other sectors


Geo 1


Geo 1


 




Financial corporations other than MFIs


Geo 1


Geo 1


 




Non-financial corporations, households, and NPISHs


Geo 1


Geo 1


 




Equity


Geo 2


Geo 2


 




Debt instruments


Geo 2


Geo 2


 







Portfolio investment



Geo 2


Geo 1


 






Equity and investment fund shares


Geo 2


Geo 1


 






Equity securities


Geo 1


Geo 1


 




Central bank


Geo 1


Geo 1


 




Other MFIs


Geo 1


Geo 1


 




General government


Geo 1


Geo 1


 






Other sectors


Geo 1


Geo 1


 




Financial corporations other than MFIs


Geo 1


Geo 1


 




Non-financial corporations, households, and NPISHs


Geo 1


Geo 1


 






Investment fund shares


Geo 1


Geo 1


 




Central bank


Geo 1


 


 




Other MFIs


Geo 1


Geo 1


 




General government


Geo 1


 


 






Other sectors


Geo 1


Geo 1


 




Financial corporations other than MFIs


Geo 1


Geo 1


 




Non-financial corporations, households, and NPISHs


Geo 1


 


 





Counterpart issuer sector: Other MFIs


Geo 1


 


 






Debt securities


Geo 2


Geo 1


 






Short-term


Geo 2


Geo 1


 




Central bank


Geo 1


Geo 1


 




Other MFIs


Geo 1


Geo 1


 




General government


Geo 1


Geo 1


 






Other sectors


Geo 1


Geo 1


 




Financial corporations other than MFIs


Geo 1


Geo 1


 




Non-financial corporations, households, and NPISHs


Geo 1


Geo 1


 






Long-term


Geo 2


Geo 1


 




Central bank


Geo 1


Geo 1


 




Other MFIs


Geo 1


Geo 1


 




General government


Geo 1


Geo 1


 






Other sectors


Geo 1


Geo 1


 




Financial corporations other than MFIs


Geo 1


Geo 1


 




Non-financial corporations, households, and NPISHs


Geo 1


Geo 1


 







Financial derivatives (other than reserves) and employee stock options



 


 


Geo 1




Central bank


 


 


Geo 1




Other MFIs


 


 


Geo 1




General government


 


 


Geo 1






Other sectors


 


 


Geo 1




Financial corporations other than MFIs


 


 


Geo 1




Non-financial corporations, households, and NPISHs


 


 


Geo 1







Other investment



Geo 2


Geo 2


 




Other equity


Geo 1


Geo 1


 






Currency and deposits


Geo 2


Geo 2


 






Central bank


Geo 1


Geo 1


 




Short-term


Geo 1


Geo 1


 




Long-term


Geo 1


Geo 1


 






Other MFIs


Geo 1


Geo 1


 




Short-term


Geo 1


Geo 1


 




Long-term


Geo 1


Geo 1


 






General government


Geo 1


Geo 1


 




Short-term


Geo 1


Geo 1


 




Long-term


Geo 1


Geo 1


 






Other sectors


Geo 1


Geo 1


 






Financial corporations other than MFIs


Geo 1


Geo 1


 




Short-term


Geo 1


Geo 1


 




Long-term


Geo 1


Geo 1


 






Non-financial corporations, households, and NPISHs


Geo 1


Geo 1


 




Short-term


Geo 1


Geo 1


 




Long-term


Geo 1


Geo 1


 






Loans


Geo 2


Geo 2


 






Central bank


Geo 1


 


 




Short-term


Geo 1


 


 




Long-term


Geo 1


 


 






Other MFIs


Geo 1


 


 




Short-term


Geo 1


 


 




Long-term


Geo 1


 


 






General government


Geo 1


Geo 1


 




Short-term


Geo 1


Geo 1


 




Long-term


Geo 1


Geo 1


 






Other sectors


Geo 1


Geo 1


 






Financial corporations other than MFIs


Geo 1


Geo 1


 




Short-term


Geo 1


Geo 1


 




Long-term


Geo 1


Geo 1


 






Non-financial corporations, households, and NPISHs


Geo 1


Geo 1


 




Short-term


Geo 1


Geo 1


 




Long-term


Geo 1


Geo 1


 




Insurance, pension schemes, and standardised guarantee schemes


Geo 1


Geo 1


 






Trade credits and advances


Geo 2


Geo 2


 





Of which: Non-financial corporations, households, and NPISHs


Geo 1


Geo 1


 




Other accounts receivable/payable


Geo 1


Geo 1


 




SDRs


 


Geo 1


 





Reserve assets



Geo 1


 


 












4.


Balancing items






 


 


 




Balance on goods and services


 


 


Geo 2




Current account balance


 


 


Geo 1




Net lending (+)/net borrowing (-) (balance from current and capital account)


 


 


Geo 1




Net lending (+)/net borrowing (-) (from financial account)


 


 


Geo 1




Net errors and omissions


 


 


Geo 1














(c)


Table 4 is replaced by the following:

‘Table 4


Quarterly international investment position













 


Assets


Liabilities


Net




 


Positions


Revaluations due to exchange rate changes


Revaluations due to other price changes


Positions


Revaluations due to exchange rate changes


Revaluations due to other price changes


Revaluations due to other price changes







Financial account
 (5)



Geo 1 (6)



 


 


Geo 1


 


 


 







Direct investment



Geo 4


 


 


Geo 4


 


 


 






Equity and investment funds shares


Geo 4


Geo 2


Geo 2


Geo 4


Geo 2


Geo 2


 





In direct investment enterprises



Geo 2


 


 


Geo 2


 


 


 





In direct investor (reverse investment)



Geo 2


 


 


Geo 2


 


 


 





Between fellow enterprises



Geo 2


 


 


Geo 2


 


 


 




By resident sector (Sec 2) (7)



Geo 2


 


 


Geo 2


 


 


 












a.


Equity






 


 


 


 


 


 


 





Listed



Geo 2


 


 


Geo 2


 


 


 





Unlisted



Geo 2


 


 


Geo 2


 


 


 





Other (e.g. real estate)



Geo 2


 


 


Geo 2


 


 


 










b.


Investment funds shares






Geo 2


 


 


Geo 2


 


 


 






Debt instruments


Geo 4


Geo 2


Geo 2


Geo 4


Geo 2


Geo 2


 





In direct investment enterprises



Geo 2


 


 


Geo 2


 


 


 





In direct investor (reverse investment)



Geo 2


 


 


Geo 2


 


 


 





Between fellow enterprises



Geo 2


 


 


Geo 2


 


 


 




By resident sector (Sec 2)


Geo 2


 


 


Geo 2


 


 


 







Portfolio investment



Geo 4


 


 


Geo 1


 


 


 






Equity and investment fund shares


Geo 4


 


 


Geo 1


 


 


 






Equity securities


 


 


 


 


 


 


 






By resident sector (Sec 2)


Geo 3


 


 


Geo 1


 


 


 




Listed


Geo 2


Geo 2


Geo 2


Geo 1


Geo 1


Geo 1


 




Unlisted


Geo 2


Geo 2


Geo 2


Geo 1


Geo 1


Geo 1


 






By counterpart issuer sector (Sec 2)


 


 


 


 


 


 


 




Listed


Geo 2


Geo 2


Geo 2


 


 


 


 




Unlisted


Geo 2


Geo 2


Geo 2


 


 


 


 






Investment fund shares


 


 


 


 


 


 


 




By resident sector (Sec 2)


Geo 2


Geo 2


Geo 2


Geo 1


Geo 1


Geo 1


 




By counterpart issuer sector (Sec 2)


Geo 2


Geo 2


Geo 2


 


 


 


 






Debt securities


 


 


 


 


 


 


 






Short-term


Geo 4


 


 


Geo 1


 


 


 




By resident sector (Sec 2)


Geo 3


Geo 2


Geo 2


Geo 1


Geo 1


Geo 1


 




By counterpart issuer sector (Sec 2)


Geo 2


Geo 2


Geo 2


 


 


 


 






By currency:


 


 


 


 


 


 


 




Euro


Geo 2


 


 


Geo 1


 


 


 




US dollar


Geo 2


 


 


Geo 1


 


 


 




Other currencies


Geo 2


 


 


Geo 1


 


 


 






Long-term


Geo 4


 


 


Geo 1


 


 


 






By resident sector (Sec 2)


Geo 3


Geo 2


Geo 2


Geo 1


Geo 1


Geo 1


 




With redemption due in one year or less


 


 


 


Geo 1


 


 


 




With redemption due in more than one year


 


 


 


Geo 1


 


 


 






By counterpart issuer sector (Sec 2)


Geo 2


Geo 2


Geo 2


 


 


 


 




With redemption due in one year or less


Geo 2


 


 


 


 


 


 




With redemption due in more than one year


Geo 2


 


 


 


 


 


 






By currency:


 


 


 


 


 


 


 




Euro


Geo 2


 


 


Geo 1


 


 


 




US dollar


Geo 2


 


 


Geo 1


 


 


 




Other currencies


Geo 2


 


 


Geo 1


 


 


 







Financial derivatives (other than reserves) and employee stock options



Geo 4


 


 


Geo 4


 


 


 




By resident sector (Sec 2)


Geo 2


 


 


Geo 2


 


 


Geo 2







Other investment



Geo 4


 


 


Geo 4


 


 


 




By resident sector (Sec 1)


Geo 4


 


 


Geo 4


 


 


 




By resident sector (Sec 2)


 


Geo 2


Geo 2


 


Geo 2


Geo 2


 




Other equity


Geo 2


Geo 2


Geo 2


Geo 2


Geo 2


Geo 2


 






Currency and deposits


Geo 4


Geo 2


 


Geo 4


Geo 2


 


 






By resident sector (Sec 2)


 


 


 


 


 


 


 




Short-term


Geo 3


 


 


Geo 3


 


 


 




Long-term


Geo 3


 


 


Geo 3


 


 


 






Loans


Geo 4


Geo 2


 


Geo 4


Geo 2


 


 






By resident sector (Sec 2)


 


 


 


 


 


 


 




Short-term


Geo 3, IMF


 


 


Geo 3, IMF


 


 


 




Long-term


Geo 3, IMF


 


 


Geo 3, IMF


 


 


 






Insurance, pension schemes, and standardised guarantee schemes


 


Geo 2


Geo 2


 


Geo 2


Geo 2


 




By resident sector (Sec 2)


Geo 3


 


 


Geo 3


 


 


 






Trade credits and advances


Geo 4


Geo 2


 


Geo 4


Geo 2


 


 






By resident sector (Sec 2)


 


 


 


 


 


 


 




Short-term


Geo 3


 


 


Geo 3


 


 


 




Long-term


Geo 3


 


 


Geo 3


 


 


 






Other accounts receivable/payable


 


Geo 2


 


 


Geo 2


 


 






By resident sector (Sec 2)


 


 


 


 


 


 


 




Short-term


Geo 3


 


 


Geo 3


 


 


 




Long-term


Geo 3


 


 


Geo 3


 


 


 




SDRs


 


 


 


Geo 1


Geo 1


 


 














(d)


the following Table 4A is inserted:

‘Table 4A


Quarterly international investment position — publishable subset









 


Positions




 


Assets


Liabilities


Net





Financial account



Geo 2


Geo 1


 







Direct investment



Geo 2


Geo 2


 




Other MFIs


Geo 1


Geo 1


 




General government


Geo 1


Geo 1


 






Other sectors


Geo 1


Geo 1


 




Financial corporations other than MFIs


Geo 1


Geo 1


 




Non-financial corporations, households, and NPISHs


Geo 1


Geo 1


 




Equity


Geo 2


Geo 2


 




Debt instruments


Geo 2


Geo 2


 







Portfolio investment



Geo 2


Geo 1


 






Equity and investment fund shares


Geo 2


Geo 1


 






Equity securities


Geo 1


Geo 1


 




Central bank


Geo 1


Geo 1


 




Other MFIs


Geo 1


Geo 1


 




General government


Geo 1


Geo 1


 






Other sectors


Geo 1


Geo 1


 




Financial corporations other than MFIs


Geo 1


Geo 1


 




Non-financial corporations, households, and NPISHs


Geo 1


Geo 1


 






Investment fund shares


Geo 1


Geo 1


 




Central bank


Geo 1


 


 




Other MFIs


Geo 1


Geo 1


 




General government


Geo 1


 


 






Other sectors


Geo 1


Geo 1


 




Financial corporations other than MFIs


Geo 1


Geo 1


 




Non-financial corporations, households, and NPISHs


Geo 1


 


 





Counterpart issuer sector: Other MFIs


Geo 1


 


 






Debt securities


Geo 2


Geo 1


 






Short-term


Geo 2


Geo 1


 




Central bank


Geo 1


Geo 1


 




Other MFIs


Geo 1


Geo 1


 




General government


Geo 1


Geo 1


 






Other sectors


Geo 1


Geo 1


 




Financial corporations other than MFIs


Geo 1


Geo 1


 




Non-financial corporations, households, and NPISHs


Geo 1


Geo 1


 






Long-term


Geo 2


Geo 1


 




Central bank


Geo 1


Geo 1


 




Other MFIs


Geo 1


Geo 1


 




General government


Geo 1


Geo 1


 






Other sectors


Geo 1


Geo 1


 




Financial corporations other than MFIs


Geo 1


Geo 1


 




Non-financial corporations, households, and NPISHs


Geo 1


Geo 1


 







Financial derivatives (other than reserves) and employee stock options



 


 


Geo 1




Central bank


 


 


Geo 1




Other MFIs


 


 


Geo 1




General government


 


 


Geo 1






Other sectors


 


 


Geo 1




Financial corporations other than MFIs


 


 


Geo 1




Non-financial corporations, households, and NPISHs


 


 


Geo 1







Other investment



Geo 2


Geo 2


 




Other equity


Geo 1


Geo 1


 






Currency and deposits


Geo 2


Geo 2


 






Central bank


Geo 1


Geo 1


 




Short-term


Geo 1


Geo 1


 




Long-term


Geo 1


Geo 1


 






Other MFIs


Geo 1


Geo 1


 




Short-term


Geo 1


Geo 1


 




Long-term


Geo 1


Geo 1


 






General government


Geo 1


Geo 1


 




Short-term


Geo 1


Geo 1


 




Long-term


Geo 1


Geo 1


 






Other sectors


Geo 1


Geo 1


 






Financial corporations other than MFIs


Geo 1


Geo 1


 




Short-term


Geo 1


Geo 1


 




Long-term


Geo 1


Geo 1


 






Non-financial corporations, households, and NPISHs


Geo 1


Geo 1


 




Short-term


Geo 1


Geo 1


 




Long-term


Geo 1


Geo 1


 






Loans


Geo 2


Geo 2


 






Central bank


Geo 1


 


 




Short-term


Geo 1


 


 




Long-term


Geo 1


 


 






Other MFIs


Geo 1


 


 




Short-term


Geo 1


 


 




Long-term


Geo 1


 


 






General government


Geo 1


Geo 1


 




Short-term


Geo 1


Geo 1


 




Long-term


Geo 1


Geo 1


 






Other sectors


Geo 1


Geo 1


 






Financial corporations other than MFIs


Geo 1


Geo 1


 




Short-term


Geo 1


Geo 1


 




Long-term


Geo 1


Geo 1


 






Non-financial corporations, households, and NPISHs


Geo 1


Geo 1


 




Short-term


Geo 1


Geo 1


 




Long-term


Geo 1


Geo 1


 




Insurance, pension schemes, and standardised guarantee schemes


Geo 1


Geo 1


 






Trade credits and advances


Geo 2


Geo 2


 





Of which: Non-financial corporations, households, and NPISHs


Geo 1


Geo 1


 




Other accounts receivable/payable


Geo 1


Geo 1


 




SDRs


 


Geo 1’


 














(1)  Concepts and definitions of selected items are specified in Annex III.

(2)  The details of the required geographical breakdowns are specified in Table 7.

(3)  The details of the required institutional sector breakdowns are specified in Table 8.’;

(4)  Including “financial derivatives — net”.’;

(5)  Concepts and definitions of selected items are specified in Annex III.

(6)  The details of the required geographical breakdowns are specified in Table 7.

(7)  The details of the required institutional sector breakdowns are specified in Table 8.’;