Progress report Item 2 Eurostat Task Force on Annual Financial Accounts Frankfurt, 4 March 2016.

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Presentation transcript:

Progress report Item 2 Eurostat Task Force on Annual Financial Accounts Frankfurt, 4 March 2016

About the report This report is supplementary to the one produced annually in November, soon after the official AFA transmission deadline. The focus is on completeness and timeliness of transmissions. It reports more completely on the 2015 reporting round of data for year T-1 (March 2015 to March 2016).

2015 reporting round Table 1 of the report shows the timeliness of transmissions and length of series provided: By end-June, 8 Member States had provided 2014 data. By mid-July this had risen to 11 MS. Transmissions from all 28 EU Member States were validated by 23 October, an improvement on a year earlier (when ESA 2010 introduced). Since then, 8 Member States have sent data (BE, DK, DE, ES, PL, SK, SE, UK).

Date of first validation of 2014 data

Time series available (Transactions and balance sheets) Derogations account for most of gap for earlier years

Non-EU countries Norway: 1996-2014 data validated already in April 2015 Iceland (validated Nov 2015): 2004-2013 data, non-consolidated only Switzerland (validated Dec 2015): incomplete dataset for 2000-2013 Turkey (validated Jan 2016): incomplete stocks data for year 2014 only Serbia (validated Dec 2015): S.13 for 2013-2014

Non-compliance issues See Table 2 of the report. Excludes minor issues. Eurostat follows up with the countries on non-compliance, and monitors progress on compiling the data under derogation.

Other flows tables Non-consolidated: data for 2012-2014 are obligatory. These years (and sometimes earlier) have been provided by all Member States except for the 5 countries with a derogation. Consolidated: data are voluntary and have been provided by 14 Member States. Norway has provided all 4 tables, and Switzerland a limited dataset.

Counterpart tables Financial transaction and balance sheet tables by counterpart main sector (non-consolidated) have been provided on a voluntary basis by 5 countries (EL, HU, AT, MT, FI). More would be welcome.

TF AFA members are invited to: comment on the report, including the non-compliance issues. mention progress being made towards compiling the data missing under derogations. mention intentions regarding compilation of who-to-whom tables. discuss the possibility of earlier and more frequent transmissions (whenever AFA are published nationally, Eurostat should receive the data).