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![Page 1: Implementation of the 2008 SNA in the Financial Accounts The Australian Experience Amanda Seneviratne Australian Bureau of Statistics.](https://reader035.fdocuments.us/reader035/viewer/2022070414/5697c0061a28abf838cc54ca/html5/thumbnails/1.jpg)
Implementation of the 2008 SNA in the Financial Accounts
The Australian Experience
Amanda Seneviratne
Australian Bureau of Statistics
![Page 2: Implementation of the 2008 SNA in the Financial Accounts The Australian Experience Amanda Seneviratne Australian Bureau of Statistics.](https://reader035.fdocuments.us/reader035/viewer/2022070414/5697c0061a28abf838cc54ca/html5/thumbnails/2.jpg)
Overview
➢ Background
➢ Changes to Financial Corporations sector
➢ Reinvested earnings of Investment Funds
➢ Planning process
➢ Changes to data collections
➢ Systems specifications
➢ Conclusion/Questions
![Page 3: Implementation of the 2008 SNA in the Financial Accounts The Australian Experience Amanda Seneviratne Australian Bureau of Statistics.](https://reader035.fdocuments.us/reader035/viewer/2022070414/5697c0061a28abf838cc54ca/html5/thumbnails/3.jpg)
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
![Page 4: Implementation of the 2008 SNA in the Financial Accounts The Australian Experience Amanda Seneviratne Australian Bureau of Statistics.](https://reader035.fdocuments.us/reader035/viewer/2022070414/5697c0061a28abf838cc54ca/html5/thumbnails/4.jpg)
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
![Page 5: Implementation of the 2008 SNA in the Financial Accounts The Australian Experience Amanda Seneviratne Australian Bureau of Statistics.](https://reader035.fdocuments.us/reader035/viewer/2022070414/5697c0061a28abf838cc54ca/html5/thumbnails/5.jpg)
Financial corporations sector continued
➢ Treatment of wholesale trusts (WST's)
➢ Non-financial investment funds
➢ Securitisers
![Page 6: Implementation of the 2008 SNA in the Financial Accounts The Australian Experience Amanda Seneviratne Australian Bureau of Statistics.](https://reader035.fdocuments.us/reader035/viewer/2022070414/5697c0061a28abf838cc54ca/html5/thumbnails/6.jpg)
Financial corporations sector continued
![Page 7: Implementation of the 2008 SNA in the Financial Accounts The Australian Experience Amanda Seneviratne Australian Bureau of Statistics.](https://reader035.fdocuments.us/reader035/viewer/2022070414/5697c0061a28abf838cc54ca/html5/thumbnails/7.jpg)
Reinvested Earnings of Investment Funds
● Scope of reinvested earnings
● Reinvested earnings = Earnings (net of capital gains/losses) – Distributions
● Practical Issues
● Negative reinvested earnings
● Impacts
![Page 8: Implementation of the 2008 SNA in the Financial Accounts The Australian Experience Amanda Seneviratne Australian Bureau of Statistics.](https://reader035.fdocuments.us/reader035/viewer/2022070414/5697c0061a28abf838cc54ca/html5/thumbnails/8.jpg)
Reinvested Earnings of Investment Funds continued
![Page 9: Implementation of the 2008 SNA in the Financial Accounts The Australian Experience Amanda Seneviratne Australian Bureau of Statistics.](https://reader035.fdocuments.us/reader035/viewer/2022070414/5697c0061a28abf838cc54ca/html5/thumbnails/9.jpg)
Reinvested Earnings of Investment Funds continued
![Page 10: Implementation of the 2008 SNA in the Financial Accounts The Australian Experience Amanda Seneviratne Australian Bureau of Statistics.](https://reader035.fdocuments.us/reader035/viewer/2022070414/5697c0061a28abf838cc54ca/html5/thumbnails/10.jpg)
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
![Page 11: Implementation of the 2008 SNA in the Financial Accounts The Australian Experience Amanda Seneviratne Australian Bureau of Statistics.](https://reader035.fdocuments.us/reader035/viewer/2022070414/5697c0061a28abf838cc54ca/html5/thumbnails/11.jpg)
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
![Page 12: Implementation of the 2008 SNA in the Financial Accounts The Australian Experience Amanda Seneviratne Australian Bureau of Statistics.](https://reader035.fdocuments.us/reader035/viewer/2022070414/5697c0061a28abf838cc54ca/html5/thumbnails/12.jpg)
Systems specification
➢ Overview of Financial Accounts system
– Metadata driven system
– Forecasting and Modelling Environment (FAME)
➢ Implementation of changes
➢ Timing
![Page 13: Implementation of the 2008 SNA in the Financial Accounts The Australian Experience Amanda Seneviratne Australian Bureau of Statistics.](https://reader035.fdocuments.us/reader035/viewer/2022070414/5697c0061a28abf838cc54ca/html5/thumbnails/13.jpg)
Conclusion
● Concluding Remarks
● Questions/Comments?