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 DisseminationStandards Bulletin Board Reviews of the Fund's Data Standards' Initiatives (Reviews) Special Data Dissemination Standard Site (SDDS) Introduction Metadata Data What's New Contact Us General Data Dissemination System Site (GDDS) Data Quality Reference Site (DQRS) |
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| The Data: Coverage, Periodicity, and Timeliness | ||||||||||||
| Coverage characteristics | 5.1.1 Statistical presentation Data are disseminated in millions of U.S. dollars on the analytical accounts of the central bank and cover the principal assets and liabilities of the Central Reserve Bank of El Salvador (BCR). The BCR’s statistics compilation practices fallow the IMF’s MFSM 2000 Data are disseminated for the following:
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| Periodicity | 4.1.1 Periodicity Monthly | |||||||||||
| Timeliness | 4.1.2 Timeliness One week after the end of the month. | |||||||||||
| Access by the Public | ||||||||||||
| Advance dissemination of release calendar | 5.1.3 Advance release calendar An advance release calendar which gives one-quarter-ahead notice of the precise release dates is disseminated on the Internet website of the BCR (http://www.bcr.gob.sv) and on the IMF's DSBB website. In addition, the calendar is issued as a press release, which also includes a notice informing the public that the calendar is disseminated on the two Internet websites above. | |||||||||||
| Simultaneous release to all interested parties | 5.1.4 Simultaneous release The data are released simultaneously to all interested parties on the following Central Reserve Bank of El Salvador’s Internet websites (http://www.bcr.gob.sv/estadisticas/smf_panorama.html) for the data in Spanish and (http://www.bcr.gob.sv/ingles/estadisticas/smf_panorama.html) for the data in English. A notice informing the public that the data are released on these Internet websites is issued in the press release which announces the advance release calendar updates. | |||||||||||
| Integrity | ||||||||||||
| Dissemination of terms and conditions under which official statistics are produced, including those relating to the confidentiality of individually identifiable information | 0.1.1 Responsibility for collecting, processing, and disseminating statistics Central Reserve Bank of El Salvador The Central Reserve Bank of El Salvador (BCR) is an autonomous public institution governed by the provisions of its Organic Law (Official Journal No. 80, Book 311 of 3 May 1991). This legislation explicitly authorizes the BCR (Article 64) to prepare and publish monetary, foreign exchange, and balance of payments statistics, or any other statistics deemed necessary by the BCR Board of Directors, which will establish the nature, content, and periodicity of the data to be released. Analytical accounts of the central bank The Central Reserve Bank of El Salvador, is established as a public autonomous institution of a technical nature, is responsible for collecting, compiling and disseminating in a timely manner balance of payments, monetary, and exchange rates statistics, as well as other macroeconomic statistics that the CRBES. Council may deem necessary, and to determine the nature, the content, and frequency of these statistics. 0.1.2 Data sharing and coordination among data producing agencies Central Reserve Bank of El Salvador There is a close cooperation with other compilers of basic statistics such as the Ministry of Economy, the General Bureau of Statistics and Census (DIGESTYC), the Ministry of Finance, and other ministries including Agriculture, Health, Education and Labor. In addition, other public institutions providing information to the BCR include the Superintendencies of Financial System, Pensions, Electricity and Communications.
Analytical accounts of the central bank For the compilation of the Analytical Account of the Central Bank, the Financial and Fiscal Statistics Department of the CRBES has access to the accounting data produced by the Accounting Department through the Integrated Accounting System, which is accessed from computers installed in the Financial and Fiscal Statistics Department.0.1.3 Confidentiality of individual reporters' data Central Reserve Bank of El Salvador Confidentiality in the use of information by BCR employees is guaranteed by rules set out in the Internal Regulation on Work Practices, Chapter II, Article 19, paragraph (p), relating to the obligations of the employees, and in Title Seven, Article 70, paragraph (a), on disciplinary provisions. The BCR authorities encourage staff to uphold basic institutional values. The National Statistics Service Law in its article 18 establishes: “The information that compiles the General Bureau of Statistics and Censuses Office is strictly confidential. This information can not be used for taxation purposes or juridical investigations and only numerical summaries will be published.” Care is taken to ensure that the data are published at a level of aggregation that will not allow individual respondents to be identified. In addition, all databases and computers involved in the compilation of BCR statistical series are restricted by passwords, to ensure that non-authorized persons are denied access to confidential data. Analytical accounts of the central bank The confidentiality of data is guaranteed by Article 64 of the Organic Law of the Central Reserve Bank of El Salvador, which establishes that the information should be exclusively used to perform the functions assigned to CRBES, i.e., the compilation and dissemination of monetary and financial statistics. Article 19, section “p” of the Labor Regulations of the Central Reserve Bank describes the obligations of staff regarding the improper use of information to which they have access. The regulations include penalties against staff who disclose confidential data. 0.1.4 Ensuring statistical reporting Central Reserve Bank of El Salvador The Law of the BCR regulates access to information from government institutions, private enterprises and financial system and other public institutions. Information is mostly received in the form of statistical or financial reports. In the case of information requested from private enterprises through surveys, personalized assistance is given to the respondent entity in completing the relevant forms; and a technical officer is appointed to answer queries. The information requested is limited to what is strictly necessary for generating the required statistics.
Analytical accounts of the central bank Article 64 of the Organic Law on the Central Reserve Bank of El Salvador requires the CRBES to compile and disseminate in a timely manner macroeconomic statistics.0.2.1 Staff, facilities, computing resources, and financing Central Reserve Bank of El Salvador All technical staff holds academic degree, and most have masters or postgraduate studies related to economic sciences. The staff has solid experience and receives training through participation in programs run by IMF, CEMLA, ECLAC, CESD, INEGI and other institutions that offer short courses on national accounts, monetary, foreign exchange, balance of payment, fiscal statistics and related areas. Analytical accounts of the central bank The monetary and financial statistics are compiled by the Financial and Fiscal Statistics Department of the CRBES, of which two employees are directly involved in collecting, validating and preparing monetary and financial statistics, they have a university education in economics and business administration. Each employee has a personal computer and access to internet, and have attended relevant national and international courses. 0.2.2 Ensuring efficient use of resources Central Reserve Bank of El Salvador The BCR has a management system that makes it possible to measure the results and scope of the tasks of each unit. The annual plan contains detailed objectives, actions, strategies and achievements, which are evaluated every six months by the authorities of the bank, to measure the performance results for each unit of the BCR. In addition, and related to the work plan, there is a staff performance management system involving periodic evaluations of individual tasks, which makes it possible to appraise the efficiency of staff in achieving the established objectives.
Analytical accounts of the central bank
0.3.1 Monitoring user requirements Central Reserve Bank of El Salvador Periodic users surveys are carried out to receive feedback from users on utility of statistics and their needs. Analytical accounts of the central bank Periodic users surveys are carried out to receive feedback from users on utility of statistics an their needs.0.4.1 Quality policy Central Reserve Bank of El Salvador The authorities recognize that quality is a key value in statistics production, and are aware of the dimensions of data quality. Most statistics are revised periodically, the information is compared with the primary sources and some statistical processes are audited.
Analytical accounts of the central bank There is an internal administrative audit procedure focused on the production and dissemination of the monetary statistics, which is conducted by staff not involved in the processes.0.4.2 Quality monitoring Central Reserve Bank of El Salvador Quality assurance processes are in place regarding the statistics generated by the BCR. The data are reviewed by technical staff and by the head of unity and authorized by the manager. If a potential problem or inconsistency is detected, the provider of information is contacted to resolve the problem or justify the information. Analytical accounts of the central bank Periodic users surveys are carried out to receive feedback on the quality of statistics.0.4.3 Quality planning Central Reserve Bank of El Salvador Although no formal procedures have been established to evaluate the quality of statistics, including tradeoff such as quality versus timeliness. 1.1.1 Impartiality of statistics Central Reserve Bank of El Salvador The Organic Law of the BCR provides a legal framework that ensures the autonomy of the institution. The BCR is committed to maintaining the highest standards of professionalism. The legal framework governing the BCR is adequate for ensuring the autonomy of staff members assigned to the compilation of statistics, and professional competence is a key requirement in the hiring of employees and in staff promotions.
Analytical accounts of the central bank The Organic Law on Central Reserve Bank provides a legal framework that ensures the autonomy of the institution. Article 1 establishes that the CRBES is created as public institution autonomous in its functions. 1.1.2 Selection of sources, methodology, and modes of dissemination Central Reserve Bank of El Salvador Most statistical data comes from official sources such as DIGESTYC, Superintendence of the Financial System, and the Ministry of Finance. In the case of national account statistics, the Macroeconomic Accounts Department of the BCR, in consultation with specialists in different research areas, decides on the source data for compilation purposes. Selection of source data is dictated exclusively by statistical requirements of coverage, information quality, precision, cost, and informant response level. Analytical accounts of the central bank The source data for compiling the Analytical Account of the Central Bank are the CRBES’s Balance Sheets, which are accessed from a database. The methodology used is that that satisfy the needs of information of the authorities of the Central Bank, the SDDS, and the publications of internationally comparable data. The data is disseminated in by electronic means. 1.1.3 Commenting on erroneous interpretation and misuse of statistics Central Reserve Bank of El Salvador The BCR monitors media coverage to detect inappropriate interpretation or misuse of statistics and staff members prepare internal reports explaining the technical reasons why data have been misinterpreted Analytical accounts of the central bank The Central Reserve Bank of El Salvador comments on erroneous interpretations or misuse of the statistics in the media or forums. The Central Bank monitors media coverage to detect inappropriate interpretation or misuse of statistics and staff members prepare internal reports explaining the technical reasons why data have been misinterpreted. In addition, the CRBES seeks to prevent misinterpretation or misuse of data by providing explanatory notes in its publications. 1.2.1 Disclosure of terms and conditions for statistical collection, processing, and dissemination Central Reserve Bank of El Salvador The laws are available in Spanish only, and copies can be obtained from the Communications Department, Central Reserve Bank of El Salvador (Phone: 503 22818111, Fax: 503 22818113, E-mail: comunicaciones@bcr.gob.sv). The law is also available at http://www.bcr.gob.sv/financiero/leyes_financ.html and http://www.ssf.gob.sv. Analytical accounts of the central bank The Organic Law on the Central Reserve Bank of El Salvador contains the terms and conditions under which statistics are collected, processed and disseminated. The law is available on the CRBES web site: http://www.bcr.gob.sv/financiero/leyes_financ.html There is an advance release calendar of dissemination of macroeconomic data, following the guidelines of the SDDS. All the information produced by the Central Bank is disseminated free of charge. 1.3.1 Guidelines for staff behavior Central Reserve Bank of El Salvador The BCR’s Internal Regulation on Work Practices defines staff obligations, establishing the norms of honesty, loyalty, responsibility, efficiency, and respect that employees should abide by. It also defines staff duties and specifies sanctions for non-compliance. The regulation has been widely disseminated to staff and is available on the BCR’s Intranet. Analytical accounts of the central bank Articles 17 and 18 of the Organic Law on the Central Bank prevents the president, vice president, and members of the Board of Directors from taking any public or private position or from offering services financed by public funds or from entities where government participates. There are clear guidelines outlining the correct behavior of staff in the Central Bank Labor Regulation, Article 19, section “p”, which states that staff should keep confidential information that could cause damage to the institution or the users of services. | |||||||||||
| Identification of internal government access to data before release | 1.2.2 Internal governmental access to statistics prior to release Central Reserve Bank of El Salvador No-one outside the BCR has access to the analytical accounts of the banking sector data prior to their release to the public. Analytical accounts of the central bank There is no access to the analytical accounts of the Central Bank outside the CBRES prior to their release. | |||||||||||
| Identification of ministerial commentary on the occasion of statistical releases | 1.2.3 Attribution of statistical products Central Reserve Bank of El Salvador The most important official compilers of statistics are: (i) the General Bureau of Statistics and Census (DIGESTYC); (b) the Ministry of Finance; and (c) BCR. In addition, other statistical compilers of sectoral data include several ministries (i.e., Health, Education, Agriculture, and Economy), and agencies such as Salvadorian Institute for Social Security, the Superintendence of the Financial System, and other sectoral superintendencies (i.e., Pensions, Electricity and Communications).
Analytical accounts of the central bank Every CRBES publication carries the CRBES logo and the unit that is responsible for its preparation. When other institutions use data from CRBES, they are requested to give attribution to CRBES. | |||||||||||
| Provision of information about revision and advance notice of major changes in methodology | 4.3.1 Revision schedule The data are generally considered to be final when first released but may be revised, in which case the central bank monetary balance sheet will contain an explanatory note for the revised data.4.3.2 Identification of preliminary and/or revised data Monthly figures are generally final but may be revised, in which case the central bank monetary balance sheet will contain an explanatory note.1.2.4 Advance notice of major changes in methodology, source data, and statistical techniques. Central Reserve Bank of El Salvador Users of statistics are informed of any major change in methodology in the BCR's monthly "Boletín Estadístico Mensual" and quarterly "Revista Trimestral" at the time the change is introduced. Analytical accounts of the central bank The public are informed of any major change in methodology in the BCR's monthly Boletín Estadístico Mensual and quarterly Revista Trimestral at the time the change is introduced. | |||||||||||
| Quality | ||||||||||||
| Dissemination of documentation on methodology and sources used in preparing statistics | 5.2.1 Dissemination of documentation on concepts, scope, classifications, basis of recording, data sources, and statistical techniques Although no documentation on methodology is disseminated at present, there are plans to do so in the future. In the meantime, information on the methodology can be obtained on request from the contact person above. (See also summary methodology) | |||||||||||
| Dissemination of component detail, reconciliations with related data, and statistical frameworks that support statistical cross-checks and provide assurance of reasonableness | 4.2.1 Internal consistency The monthly Boletín Estadístico Mensual publishes detailed monthly data on base money for the current year with a timeliness of one month and six working days after the end of the reference month. 4.2.2 Temporal consistency The quarterly Revista Trimestral publishes monthly data for the current year and the previous three years showing the consolidation of the central bank accounts and base money. The BCR Internet websites (http://www.bcr.gob.sv/estadisticas/smf_panorama.html in Spanish and http://www.bcr.gob.sv/ingles/estadisticas/smf_panorama.html in English) disseminate monthly time series data for the current year at the level of detail described in the coverage characteristics cell above. 4.2.3 Intersectoral and cross-domain consistency Internal review and cross checks with other macroeconomic accounts. | |||||||||||
Country Notes:
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