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Dissemination Standards Bulletin Board Special Data Dissemination Standard (THE SUMMARY METHODOLOGY STATEMENT HAS BEEN PROVIDED BY EURO AREA, WHICH IS SOLELY RESPONSIBLE FOR ITS ACCURACY AND COMPLETENESS. AT THE TIME OF POSTING, THE STATEMENT WAS REVIEWED BY THE IMF FOR CONSISTENCY WITH THE METADATA BASE PAGE DESCRIBING DISSEMINATION PRACTICES. SUBSCRIBERS ARE REQUIRED TO PROVIDE UPDATES TO THE STATEMENT, AS NEEDED, AND ARE EXPECTED TO MAKE OTHER IMPROVEMENTS, AS WARRANTED, TO ENHANCE TRANSPARENCY) Euro Area Summary Methodology Analytical accounts of the central bank Last Posted: Nov-8-2006 Last Updated: Nov-8-2006 Contact Person(s)          Printer Friendly Page   Monetary Statistics Section, Monetary and Financial Markets and Institutions Division, European Central Bank, Kaiserstrasse 29, D-60311, Frankfurt am Main, Germany   Phone : 49 69 1344 7090   Fax : 49 69 1344 7606   Email : monetary.statistics@ecb.int

I. Analytical Framework, Concepts, Definitions, and Classifications

2.1.1 Concepts and definitions Analytical Framework: Data are the aggregated balance sheet of the Eurosystem. For an explanation of the Eurosystem, see the header "Classification". The coin in circulation issued by the Treasuries of the participating Member States is included in the currency in circulation with contra-entry in remaining assets. Residency criterion applied is euro area residency. Data are based on the ECB requirements presented in the Regulation (EC) No. 2324/2001 of the European Central Bank concerning the consolidated balance sheet of the MFI sector (ECB/2001/13), as amended. Disseminated base money is derived from the consolidated financial statement of the Eurosystem which is based on the Guideline of the European Central Bank of 5 December 2002 on the legal framework for accounting and reporting in the European System of Central Banks (ECB/2002/10). Participating Member States = Euro area: the area encompassing those Member States in which the euro has been adopted as the single currency in accordance with the Treaty and in which a single monetary policy is conducted under the responsibility of the Governing Council of the ECB. The euro area comprises Belgium, Germany, Greece (from 1 January 2001), Spain, France, Ireland, Italy, Luxembourg, the Netherlands, Austria, Portugal and Finland. For purposes of money and banking statistics, the euro area also includes the ECB. The expression "national central banks" refers to the national central banks of those Member States, which have adopted the euro as the single currency in accordance with the Treaty. The Eurosystem comprises the ECB and the national central banks of the Member States which have adopted the euro in Stage Three of EMU. 2.3.1 Classification/sectorization Classifications: The data classifications used are presented in the ECB Regulation (ECB/2001/13, as corrected and amended). The classifications are consistent with the ESA 95. Items are classified according to instrument/maturity categories as well as by currency and counterpart. The main instrument breakdowns on the asset side are: Loans, Securities other than shares, Shares other than equity, External Assets, Fixed assets and Remaining assets. The main liability items are: Currency in circulation, Deposits, Debt securities issued, Capital and reserves, External Liabilities and Remaining liabilities. Classification of institutional sectors is based on the ESA95 (clarified more in detail in the ECB publication Money and Banking Statistics Sector Manual; Guidance for the statistical classification of customers (second edition); ECB November 1999). Monetary financial institutions are presented in the List of Monetary Financial Institutions and institutions subject to minimum reserves; ECB website (http://www.ecb.int) item "MFIs and Eligible assets".

II. Scope of the data

2.2.1 Scope Scope of the data The data cover the Eurosystem (see explanation above under "Participating Member States"). Coin issued by the Treasuries of the participating Member States is added.

III. Accounting Conventions

2.4.1 Valuation Accounting practices: The accounting rules followed by the national central banks and the ECB for ESCB reporting purposes have been established by the Governing Council of the European Central Bank. In applying these rules the accounting principles harmonised by EU Community law and generally accepted international accounting standards are taken into account. 2.4.2 Recording basis Valuation of foreign-currency-denominated instruments: Positions denominated in foreign currencies are converted into euro using the ECB reference exchange rate on the last working day of the month. 2.4.3 Grossing/netting procedures Without prejudice to the prevailing accounting practices and netting arrangements in Member States, all financial assets and liabilities shall be reported on a gross basis for statistical purposes.

IV. Nature of the Basic Data Sources

3.1.1 Source data collection programs The balance sheet is compiled from the ECB and national central bank accounts. The amount of coin issued by the Treasuries is added to the balance sheet data.

V. Compilation Practices

3.3.2 Other statistical procedures The national central banks' and the ECB's balance sheet are aggregated on a gross basis. Seasonal adjustments are not used. 3.4.1 Validation of intermediate results Individual data supplied by the national central banks and by the Internal Finance Directorate of the ECB are checked concerning consistency (formal checking rules) and plausibility (comparison with preceding data). Checks are also performed at an aggregated level.

VI. Other Aspects

Footnotes

Last posted: Date IMF staff last posted an update to these metadata on the DSBB.

Last certified: Date subscriber last officially certified the accuracy of these metadata.

Last updated: Date subscriber last submitted an update of these metadata to the IMF.