1. Compilation of EU and EMU BOP aggregates
THE CONTRACTOR IS ACTING UNDER A FRAMEWORK CONTRACT CONCLUDED WITH THE COMMISSION

2. Content
EU requirements for BOP – EU Regulation 184/2005 amended by 555/2012
Requirements specified by Vademecum
EMU requirements – the Guideline
Harmonisation of sources and methods or outputs??

3. EU requirements EU Regulation 184/2005, amended by Reg 555/2012 (BPM6)
Vademecum sets out detailed requirements (but is not the legal instrument)
Focus on quarterly and annual breakdowns
Current account and FDI
Partner country breakdowns in order to compile EU aggregates

4. EMU requirements Monthly and quarterly BOP and quarterly IIP
Monetary presentation of euro area BOP
links developments in the broad money supply aggregate M3 to the cross-border transactions of the money-holding sector in the euro area.
Shows how financial and non-financial transactions of resident non-MFIs with non-residents of the euro area affect monetary conditions, as these transactions mirror the changes in the net external assets of the MFI sector, which is one of the components of the M3

5. Comments ?