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Financial Institutions Division IMF Statistics Department Overview of Presentation MFS Methodology Revision The MFSMCG Chapters MFSMCG — Important Revisions Implementation of the MFSMCG 2 Financial Institutions Division IMF Statistics Department MFS Methodology Revision: Background Main reasons for the revision: • Align with the new 2008 SNA and BPM6 • Address issues identified since the publication of the MFS Manual (MFSM) in 2000 and the MFS Compilation Guide in 2008, drawing from the accrued experience • Reflect developments in the financial corporations sector and financial markets 3 Financial Institutions Division IMF Statistics Department MFS Methodology Revision: Process Agreeing on the Framework The revision process has started in 2011 • An Annotated Outline* and Issues Paper* were released to the members of the Experts Group for comments in November 2011. An Experts Group Meeting in February 2012 with representatives from about 30 countries and 10 international or regional organizations • A Discussion Note* before the meeting, and Summary of Main Conclusions* after the meeting. • Agreed to combine MFS Manual and Compilation Guide (MFSMCG), Thus a single document (MFSMCG) will replace the current MFSM and MFS Compilation Guide—merging + updates + new developments • The prepublication version of the MFSMCG was posted on the IMF website in March 2016: http://www.imf.org/en/data#MonStat * Available at http://www.imf.org/external/data.htm#guide 4 Financial Institutions Division IMF Statistics Department The MFSMCG Chapters I. Introduction II. Framework for Monetary and Financial Statistics III. Institutional Units and Sectors IV. Classification of Financial Assets V. Stocks, Flows, and Accounting Rules VI. Money, Liquidity, Credit, and Debt VII. Compilation, Source Data, and Dissemination of Monetary Statistics VIII. Financial Statistics 5 Financial Institutions Division IMF Statistics Department MFSMCG: important Revisions Definition of money (broad money) proposed and concepts of money issuing, money holding and money neutral subsectors explained Changes in institutional sectors stemming from the 2008 SNA (mostly related to subsectoring of the financial corporations sector) Changes in the classification of financial assets based on the 2008 SNA changes (name changes and other changes) and more elaboration on borderline cases Some minor changes in the valuation of financial assets/liabilities based on the clarification of concepts in the 2008 SNA (nominal value, book value) A greater focus on the other financial corporations subsector More elaboration on credit, debt, and liquidity aggregates 6
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