. in this sense, bird is a “ public good “ that can be used by banks and other data providers. participation is voluntary. at this moment, bird covers the reporting requirements of anacredit and securities holdings statistics ( shs ), while coverage of the financial reporting for supervisory purposes ( finrep ) is under development. enhancing knowledge sharing sharing knowledge and information within and across central banks can contribute significantly to making best use of new technological developments. three initiatives can serve as examples : seite 15 von 18 deutsche bundesbank, directorate general communications wilhelm - epstein - strasse 14, 60431 frankfurt am main, germany, tel : + 49 ( 0 ) 69 9566 3511 or 3512, fax : + 49 ( 0 ) 69 9566 3077 presse @ bundesbank. de, www. bundesbank. de reproduction permitted only if source is stated. • the international network for exchanging experience on statistical handling of granular data ( inexda ) shares information on methods for harmonizing access procedures and metadata structures, thus fostering the efficiency of statistical work with granular data. its ultimate aim is to facilitate the use of granular data for ana - lytical purposes, and it provides a platform also for users outside the participating institutions, of course observing confidentiality regulations. beside knowledge sharing, inexda promotes the g20 data gaps initiative ii ( dgi - 2 ), in particular recommendation 20, addressing the accessibility of granular data. • the international banking research network ( ibrn ) is a global network of central bank researchers which aims at making better use of micro data in central banks without having to share the ( confidential ) data. teams of researchers across central banks collectively develop analytical models, apply these models to their national datasets, and the findings are compiled in a meta analysis. research in the network contributes to an improved understanding of the role of global banking in the transmission of ( policy ) shocks across countries. • internal processes may need to be adjusted in order to benefit from new technologies and data. procedures for the governance of data need to be improved with regard to structuring and organizing knowledge. currently, information that is available within organizations may not always be systematically collected and may be stored in a decentralized manner. as a consequence, the accessibility, i. e. “ searchability ” of these data is not always granted for all potential users. in order to structure such information and to make it available

quarterly frequency. the variety of attributes that are recorded allow for the computation of various descriptive statistics as ( joint ) distributions of interest rates, outstanding amounts, the ratio of performing loans, or the age of borrowers. similar data for the german mortgage market a not available, as has recently been highlighted by the imf. managing the challenges new, granular sources of data, new analytical technologies, and new it - developments promise significant improvements for the production and enhancement of ( existing ) statistics, the generation of new information, and ultimately for enhancing knowledge. yet, seite 12 von 18 deutsche bundesbank, directorate general communications wilhelm - epstein - strasse 14, 60431 frankfurt am main, germany, tel : + 49 ( 0 ) 69 9566 3511 or 3512, fax : + 49 ( 0 ) 69 9566 3077 presse @ bundesbank. de, www. bundesbank. de reproduction permitted only if source is stated. reaping these benefits and coping with the challenges, requires managing the changing demand for skills, improved cost - benefit analysis, and improved knowledge sharing and international cooperation. managing the demand for skills new data and technologies alter the demand for skills in the production of statistics and knowledge. the use of “ algorithms ” does not lead to a reduced demand for labor due to the “ replacement ” of employees by machines. quite to the contrary : tasks now being performed by humans will move away from manual routine tasks towards the provision of services, including the explanation of statistics to users. new technologies will complement, not substitute workers, enabling them to be more productive and to enhance their existing skills. to give an example : the arrival of the personal computer or new spreadsheet software profoundly altered the way finance and accounting departments work. but this did not make the affected employees disappear or obsolete at all. another example in this con - text is the introduction of atms and employment in banking. contrary to initial expectations, the rapid spread of atms in the u. s. from the 1970s on did not lead to a significant decrease of bank teller jobs. the key to making best use of new technologies and managing the transition is training – at school, universities, but also continuous learning on the job. many universities already alter their curricula by introducing study programs that better prepare future graduates for the change in required skills. one example is the european master in official statistics ( emos ), a network of postgraduate master degree programs fostering the