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European Central Balance Sheet Data Offices (ECCBSO),
a tool for the analysis of the non-financial sector of the
economy (from individual to consolidated accounts)
Workshop on Integrated Management of Micro-databases
Porto, 20/22 June 2013
Manuel Ortega
Chairman, ECCBSO
Head of CBSO. Banco de España
STATISTICS DEPARTMENT
CENTRAL BALANCE SHEET DATA OFFICE
ECCBSO, a tool for the analysis of Non-financial
corporations
CONTENT:
1. A global world: increasing need of microdata to understand it
2. How the cake is cut?
3. European CBSO: a source of direct data from NFC
4. Globalization: the need to use individual and consolidated accounts
2
1
1. A global world: increasing need of microdata
And the diversity aswell!
We have to know the population
We need to know the singularities
And, yes: nationality still is important
3
2. How the cake is cut?
National Accounts and Financial Accounts are not enough
Need of direct sources of contrast
Key performance indicators of NFC: an increasing demand
But taking care of the reporting burden: use of business accounting
What about harmonization?: IFRS as solution
Need of more microdata, to know how the cake is cut and who eats it
2
3. European CBSO: a source of direct data from NFC
ECCBSO
ECCBSO PRESENTATION
European Committee of Central Balance-Sheet
Data Offices
The European Committee of Central Balance-Sheet Data Offices (ECCBSO) is an informal body whose members consist of experts either from the Central
Balance-Sheet Data Offices belonging to or associated with the National Central Banks (NCB) of the European Community, or from National Statistical Institutes.
The main task of the ECCBSO is to improve the analysis of Non-financial corporate enterprises data through the exchange of information and joint studies, on the
basis of the work carried out by the national central balance-sheet data offices which collect, store and diffuse descriptive and accounting firm data, and starting
from these information, they develop economic and financial research.
The structure of the ECCBSO is the following:
ECCBSO
European Committee of Central Balance-Sheet Data Offices
CHAIRMAINSHIP
BANCO DE ESPAÑA
(from November 2010 until November 2013)
PERMANENT
OBSERVERS
European
Commission
MEMBERS
Banca d'Italia | Banco de Portugal | Banco de España | Bank of England | Bank of Greece | Banque de France |
Banque Nationale de Belgique – Nationale Bank van België | Central Bank of Ireland | Cerved Group spa Centrale dei Bilanci | Czech National Bank | Danmarks NationalBank | Deutsche Bundesbank | European
Central Bank | National Bank of Poland | National Bank of Romania | National Bank of Slovakia | National
Bank of Slovenia | Oesterreichische Nationalbank | STATEC – Luxembourg | Statistics Finland | Statistics
Netherlands | Statistics Sweden | Statistics Denmark
OBSERVERS
IFRS Foundation
1
REPORT 2013 | Products and Services of the European CBSOs
April 2013
3. European CBSO: a source of direct data from NFC
What is a Central Balance Sheet Database?:
•
•
•
•
•
•
•
Raw data collection of accounting data
Databases with microdata
Directly obtained from non financial corporations
Based in their normal language: accounting data
Accounting data: individual accounts / consolidated accounts
Different periodicity and timeliness (annual/quarterly, others)
Used with different purposes: statistics, risk assessment, others
To know more: www.eccbso.org
• “Products and services of the European CBSOs”
• BACH database (aggregated data and statistical distributions, of
individual accounts)
• ERICA database: results of listed European groups
• “Profitability, equity capitalization and Net worth at risk”
• Risk assessment working group
6
3
3. European CBSO: a source of direct data from NFC
ECCBSO
CBSOs DATABASES
European Committee of Central Balance-Sheet
Data Offices
BOX 1| DATABASES BY PERIODICITY AND ACCOUNTS CONSOLIDATION
Annual Indiv
Annual Cons
Annual Indiv & Cons
2
Quarterly Indiv
Quarterly Cons
2
1
1
1
Quarterly Indiv & Cons
2
1
1
1
1
Semi-annual Indiv
1
Semi-annual Cons
2
1
1
1
1
3
Other
2
3
1
2
1
2
1
1
1
1
1
1
1
1
2
1
1
1
1
1
1
2
REPORT 2013 | Products and Services of the European CBSOs
April 2013
7
4. Globalization: the need to use individual and
consolidated accounts
All European CBSO:
From the outset, individual accounts databases / Some countries also
created consolidated accounts databases 10 years ago, for risk assessment
Globalisation and groups pose a challenge to statisticians: consolidated
accounts are more necessary
Individual Accounts necessary for:
Aggregates by sector of activity
Analysis with common samples (without changes in the perimeter of
consolidation): growth rate of activity or net profit
Consolidated Accounts necessary for:
Debt Analysis, solvency and risk assessment
A new approach is required:
Individual data, aggregated and adjusted with intragroup operations (to avoid
the double accounting)
Use of both databases, individual and consolidated financial statements
Demand of truncated consolidated accounts: please, using the law!
8
4
4. Globalization: the need to use individual and
consolidated accounts
Map of possible uses of individual and consolidated accounts
National accounts
Monetary policy
Bank supervision
Economic analysis
trends
Economic analysis
structures
Risk assessment
Research
panel data
Other statistics
Financial stability
Individual accounts
Aggregated
Individual
Consolidated accounts
Same scope
Dif. scope
Truncated
Source: IIIWG on IFRS impact and CBSO databases. ECCBSO
COMMENTS?
STATISTICS DEPARTMENT
5