Introduction to the System of National Accounts (SNA) Lesson 9
Implementation of the 2008 SNA in the Financial Accounts The Australian Experience
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Implementation of the 2008 SNA in the Financial Accounts The Australian Experience Amanda Seneviratne Australian Bureau of Statistics
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Implementation of the 2008 SNA in the Financial Accounts The Australian Experience Amanda Seneviratne Australian Bureau of Statistics. Overview. Background Changes to Financial Corporations sector Reinvested earnings of Investment Funds Planning process Changes to data collections - PowerPoint PPT Presentation
Transcript of Implementation of the 2008 SNA in the Financial Accounts The Australian Experience
Implementation of the 2008 SNA in the Financial Accounts
The Australian Experience
Amanda Seneviratne
Australian Bureau of Statistics
Overview
➢ Background
➢ Changes to Financial Corporations sector
➢ Reinvested earnings of Investment Funds
➢ Planning process
➢ Changes to data collections
➢ Systems specifications
➢ Conclusion/Questions
Background
➢ History of Australian Financial Accounts
➢ Timing of changes
➢ Concurrent implementation
– BPM6
– SESCA08
– ANZSIC06
➢ Two main changes
– Financial Corporations Sector
– Reinvested Earnings of Investment Funds
Financial corporations sector
➢ Seperate identification of investment funds
– Money market funds
– Other investment funds
➢ Development of ABS definition
➢ Centers around 4 criteria:
– Pooling of investors' monies
– Seperate legal entity
– Open to the public
– Ability to dispose of shares/units
Financial corporations sector continued
➢ Treatment of wholesale trusts (WST's)
➢ Non-financial investment funds
➢ Securitisers
Financial corporations sector continued
Reinvested Earnings of Investment Funds
● Scope of reinvested earnings
● Reinvested earnings = Earnings (net of capital gains/losses) – Distributions
● Practical Issues
● Negative reinvested earnings
● Impacts
Reinvested Earnings of Investment Funds continued
Reinvested Earnings of Investment Funds continued
Planning Process
➢ Review Boards
– MESC
– MAMB
➢ Consultation/Communication with users
– Feedback from users
– Impact of changes to key aggregates
– Impact of changes to statistical products
Changes to data collections
➢ Main data sources
– Survey of Financial Information
– Survey of International Investment
– Australian Prudential Regulatory Authority
➢ Minimal changes in general
– Existing collection for investment funds
– Identification of investment funds in counterparty reporting
Systems specification
➢ Overview of Financial Accounts system
– Metadata driven system
– Forecasting and Modelling Environment (FAME)
➢ Implementation of changes
➢ Timing
Conclusion
● Concluding Remarks
● Questions/Comments?
