Special Data Dissemination Standard
|I. Analytical Framework, Concepts, Definitions, and Classifications|
2.1.1 Concepts and definitions
Analytical framework: The depository corporations survey is compiled and disseminated on monthly basis in accordance with the analytical framework of the IMF's Monetary and Financial Statistics Manual (MFSM).
The depository corporations survey is the consolidation of the accounts of the Central Bank of Armenia (CBA), commercial banks, and credit organizations. Depository corporations survey data are compiled and disseminated based on balance sheets of the Central Bank, commercial banks, and credit organizations.
In the annual publication the Central Bank disseminates depository corporations survey data using a more detailed classification. Detailed monthly balance sheet data are also disseminated for the CBA, commercial banks, and credit organizations.
Classification: Foreign positions are distinguished from domestic positions on the basis of residency. The statistical definition of residency is given in the CBA’s Manual on Compilation of Monetary and Financial Statistics in Armenia (section "Sectors of Economy") and conforms to that of Balance of Payments and International Investment Position Manual, sixth edition (BPM6).
In the case of banks and credit organizations, and following the definition of residency of the BPM6, the accounts of subsidiaries and branches of foreign banks and credit organizations in Armenia are included in the depository corporations survey and the accounts of foreign subsidiaries of domestic banks and credit organizations abroad are excluded from the depository corporations survey.
The depository corporations survey is presented with the following classification:
Domestic positions are classified by sectors of economy: government, banking sector (other than the central bank), other financial corporations, non-financial corporations, households, NPISHs.
Within each category accounts are broken down by currency (domestic currency, foreign convertible currencies, foreign non-convertible currencies).
Major aggregates are monetary aggregates comprising national currency in circulation, narrow money M1, broad money in national currency M2, and broad money M2X, as follows:
|II. Scope of the data|
Scope of the data
Exceptions to coverage
Institutional coverage—other banks and credit organizations: Accounts of banks and credit organizations under interim administration– whose liabilities are not liquid – are excluded from the depository corporations survey.
|III. Accounting Conventions|
2.4.2 Recording basis
Accounting practices: The accounts of the CBA and those of the commercial banks and credit organizations are recorded on accrual basis. Accrued interests receivable and payable are classified by instruments.
2.4.3 Grossing/netting procedures
Provisions: Central bank’s, commercial banks’, and credit organizations' provisions for loan losses and other purposes are included in other accounts receivable/payable of the depository corporations survey. Provisions are not netted against domestic credit.
|IV. Nature of the Basic Data Sources|
3.1.1 Source data collection programs
3.1.2 Source data definitions, scope, classifications, valuation, and time of recording
Source data generally meet the internationally accepted practices.
3.1.3 Source data timeliness
The source data are available timely to meet recommended standards of timeliness and periodicity for dissemination of the monetary statistics.
3.2.1 Source data assessment
The CBA source data are analyzed for accuracy by Statistics and Accounting Departments. The software program for generating monetary statistics offers the possibility of data cross-checking. The data are reviewed by the Internal Audit Department of the CBA.
The source data on other depository corporations are double checked by Supervision Department during on-sight inspections. There is a monitoring system which tests the internal consistency of each institution's data (cross-check) and identifies out-of-trend movements. Formal data inconsistencies and out-of-trend values are confirmed with respondents and records are kept with the reporting forms.
|V. Compilation Practices|
3.3.1 Source data statistical techniques
Estimation/sampling: The depository corporations survey is based on actual accounting records of the CBA, commercial banks, and credit organizations. No estimations are applied.
The Central Bank Survey is compiled daily on the basis of balance sheet of the previous day. The commercial banks survey is compiled weekly and monthly, those of credit organizations are compiled monthly. The weekly balance sheets of commercial banks are provided to the CBA by the second working day of the following week and the analytical accounts for the reporting week are compiled by the end of the following week. Monthly balance sheets of commercial banks and credit organizations are provided to the CBA by the 7th of the next month. The monthly depository corporations survey is compiled by the 20th of the next month.
3.3.2 Other statistical procedures
Statistical adjustments: No statistical adjustments are made to the data.
3.4.1 Validation of intermediate results
Data verification: Depository corporations survey is verified with data from other reports submitted by commercial banks and credit organizations, such as: report on banks’ and credit organizations' lending, receivables and investment securities, report on average interest rates on attracted and allocated funds, etc. Depository corporations survey data are not adjusted with regard to auditing results of commercial banks and credit organizations. Accounting errors when occurring are corrected in the statistical publications for the reporting period.
3.4.2 Assessment of intermediate data
Data are regularly monitored to investigate statistical discrepancies and to ensure data accuracy.
When a large movement is noted in the submitted data, the Statistics Department contacts the reporting institution for clarifications.
3.4.3 Assessment of discrepancies and other problems in statistical outputs
The CBA is committed to investigate any significant discrepancies that may be found.
When relatively large fluctuations occur in the accounts due to random effects, they are thoroughly explained in statistical publications.
|VI. Other Aspects|
5.1.5 Dissemination on request
Additional information (non-confidential) is available upon request. Users can request additional information either by contacting the contact point or the Public Relations Service of the CBA, which will forward the inquiries to the relevant department for response. The contact points are available on the CBA website and in the publications for inquiries.
5.3.1 Dissemination of information on contact points
Contact information (e-mail addresses and telephone numbers) are available on the CBA website. Assistance and support is provided to users, who can pose queries by contacting the contact point or the Public Relations Service of the CBA, which will forward the inquiries to the relevant department.
5.3.2 Availability of documents and services catalogs
The CBA website provides users with considerable amount of information about electronic and paper-based publications and documents.