Statistics on Non-Bank Financial Sector: Experience of Central Bank of Turkey

1
Statistics on Non-Bank Financial
SectorExperience of Central Bank of Turkey

• Aycan Ozek
• Statistics Department
• Deputy Director

Joint National Bank of the Republic of Macedonia
and ECB Seminar on Statistics October 2-5,
2013 Skopje
2
Outline

• Changing Environment
• CBTs Experience
• - Other Financial Intermediaries
• - Financial Auxiliaries
• - Insurance Corporations and pension Funds
• 3. Future Work

3
Changing Environment
4
Changing Environment

• Emerging Statistical Needs
• Move from traditional data collection systems to
  emerging statistical needs (G-20 data gaps
  initiative)
• Strengthening the coverage of balance sheets
• Flow of funds data
• Data on non-bank financial institutions
• More timely and comparable statistics

5
Changing Environment

• The Need for Non-Bank Financial Institutions
  Data
• G-20 Data Gaps Initiative
• Reporting requirements from international
  institutions (OECD, BIS)
• Harmonization with international standards
  (ESA95, MFSM)

6
CBTs Experience
Traditional Data Sources
7
CBTs Experience
New Data Sources
8
CBTs Experience

• CBT Classification of Financial Corporations
  (S.12)
• Central Bank
• Other Monetary Financial Institutions
• Non-Bank Financial Institutions
• - Financial Intermediaries
• - Financial Auxiliaries
• - Insurance Corporations and Pension Funds

9
Other Financial
Intermediaries

• Other Financial Intermediaries (S.123) in ESA 95
• .All financial corporations which are
  principally engaged in financial intermediation
  by incurring liabilities in forms other than
  currency, deposits and/or close substitutes for
  deposits from institutional units other than
  monetary financial institutions, or insurance
  technical reserves. (paragraph 2.53)

10
Other
Financial Intermediaries
Comparison between other monetary financial
institutions and OFIs
OFIs Liabilities - from non MFIs
other than currency, deposits and / or
close substitutes for deposits


MFIs Liabilities - from non MFIs
deposits and / or close substitutes for
deposits
11
Other Financial
Intermediaries

• Institutional Units in S.123
• financial leasing corporations
• personal or commercial finance corporations
• factoring corporations
• security and derivative dealers (on own account)
• venture and development capital companies
• export and import financing companies
• financial vehicle corporations, created to be
  holders of securitized assets
• financial intermediaries which receive deposits
  or close substitutes for deposits from MFIs

12
Other Financial
Intermediaries
COVERAGE OF OTHER FINANCIAL INTERMEDIARIES  
   
Financial Leasing Companies 31
Factoring Companies 74
Finance Companies 12
Mutual Funds 685
   
TOTAL 802
Source BRSA, CMB  
13
Other Financial
Intermediaries

• Data Sources for S.123
• Unified Chart of Accounts of Financial Leasing,
  Factoring and Finance Companies compiled by BRSA
• Capital Market Board data set for Investment
  Funds
• Data on holder sectors of investment funds
  compiled by Central Registry Agency

14
Other Financial
Intermediaries
Thousand TRY Financial corporations Financial corporations Financial corporations Financial corporations Financial corporations Financial corporations Financial corporations
2012 Total Monetary financial institutions Central Bank Other monetary financial institutions Other financial intermediaries Financial auxiliaries Insurance corporations and pension funds
Stocks of financial instruments S.12 S.121S.122 S.121 S.122 S.123 S.124 S.125
Financial assets 1.729.127.699 1.584.998.314 253.637.684 1.331.360.630 59.274.639 53.652.937 31.201.810
Monetary gold and SDRs 36.965.494 36.965.494 36.965.494 0 0 0 0
Monetary gold 34.297.820 34.297.820 34.297.820 0 0 0 0
Special drawing rights 2.667.674 2.667.674 2.667.674 0 0 0 0
Currency and deposits 237.696.503 211.525.065 6.858.542 204.666.523 6.718.431 7.690.588 11.762.419
Currency 13.509.156 13.501.788 790.220 12.711.568 5.646 1.401 321
Transferable deposits 172.986.327 160.923.102 0 160.923.102 479.432 464.642 11.119.152
Other deposits 51.201.019 37.100.175 6.068.322 31.031.853 6.233.353 7.224.545 642.946
Securities other than shares 458.642.356 434.281.643 177.164.873 257.116.770 2.794.499 12.590.577 8.975.638
Securities other than shares, excluding financial derivatives 455.902.888 431.545.510 177.164.873 254.380.637 2.794.499 12.587.241 8.975.638
Financial derivatives 0 2.736.133 0 2.736.133 0 3.336 0
Loans 901.684.725 850.643.893 32.603.352 818.040.541 45.982.383 4.818.840 239.609
Shares and other equity 34.447.664 29.057.632 45.424 29.012.209 1.664.956 1.783.314 1.941.762
Shares and other equity, excluding mutual funds shares 34.200.467 29.057.632 45.424 29.012.209 1.664.956 1.783.314 1.694.565
Mutual funds shares n.a n.a n.a n.a n.a n.a 247.197
Insurance technical reserves - - - - - - -
Other accounts receivable 59.690.957 22.524.587 0 22.524.587 2.114.370 26.769.618 8.282.383
15
Other Financial
Intermediaries
Thousand TRY Financial corporations Financial corporations Financial corporations Financial corporations Financial corporations Financial corporations Financial corporations
2012 Total Monetary financial institutions Central Bank Other monetary financial institutions Other financial intermediaries Financial auxiliaries Insurance corporations and pension funds
Stocks of financial instruments S.12 S.121S.122 S.121 S.122 S.123 S.124 S.125
Financial Liabilities 1.744.007.371 1.624.828.425 246.661.396 1.378.167.029 54.662.143 24.801.461 39.715.342
Currency and deposits 1.059.702.174 1.054.960.214 223.328.150 831.632.064 0 4.741.961 0
Currency 60.525.482 60.525.482 60.525.482 0 0 0 0
Transferable deposits 305.842.197 305.842.197 144.528.524 161.313.673 0 0 0
Other deposits 693.334.495 688.592.534 18.274.144 670.318.391 0 4.741.961 0
Securities other than shares 50.444.486 47.255.597 0 47.255.597 3.085.139 103.750 0
Securities other than shares, excluding financial derivatives 46.092.164 42.908.577 0 42.908.577 3.085.139 98.448 0
Financial derivatives n.a 4.347.020 n.a 4.347.020 0 5.301 0
Loans 223.094.385 186.564.511 1.379.950 185.184.561 35.697.805 661.004 171.065
Shares and other equity 327.419.755 285.858.623 21.581.843 264.276.781 12.476.448 11.400.693 17.683.990
Shares and other equity, excluding mutual funds shares 319.403.191 285.858.623 21.581.843 264.276.781 4.459.884 11.400.693 17.683.990
Mutual funds shares n.a 0 0 0 8.016.564 n.a 0
Insurance technical reserves 19.166.818 - - - - - 19.166.818
Other accounts payable 64.179.753 50.189.480 371.454 49.818.026 3.402.751 7.894.053 2.693.469
16
Financial Auxiliaries

• Financial Auxiliaries (S.124) in ESA 95
• .All financial corporations which are
  principally engaged in auxiliary financial
  activities, that is to say activities closely
  related to financial intermediation but which are
  not financial intermediation themselves.
  (paragraph 2.57)

17
Financial Auxiliaries

• Institutional Units in S.124
• insurance brokers, insurance and pension
  consultants, etc
• loan brokers, security brokers, investment
  advisers, etc.
• corporations that manage the issue of securities
• corporations whose principal function is to
  guarantee, by indorsement, bills and similar
  instruments
• corporations which arrange derivative instruments
• corporations providing infrastructure for
  financial markets
• central supervisory authorities
• managers of pension funds, mutual funds, etc.
• corporations providing stock exchange, insurance
  exchange

18
Financial Auxiliaries

COVERAGE OF FINANCIAL AUXILIARIES  
   
Savings Deposit Insurance Fund 1
Capital Market Dealer Companies 97
   
TOTAL 98
Source SDIF, CMDC Association  
19
Financial Auxiliaries

Thousand TRY Financial corporations Financial corporations Financial corporations Financial corporations Financial corporations Financial corporations Financial corporations
2012 Total Monetary financial institutions Central Bank Other monetary financial institutions Other financial intermediaries Financial auxiliaries Insurance corporations and pension funds
Stocks of financial instruments S.12 S.121S.122 S.121 S.122 S.123 S.124 S.125
Financial assets 1.729.127.699 1.584.998.314 253.637.684 1.331.360.630 59.274.639 53.652.937 31.201.810
Monetary gold and SDRs 36.965.494 36.965.494 36.965.494 0 0 0 0
Monetary gold 34.297.820 34.297.820 34.297.820 0 0 0 0
Special drawing rights 2.667.674 2.667.674 2.667.674 0 0 0 0
Currency and deposits 237.696.503 211.525.065 6.858.542 204.666.523 6.718.431 7.690.588 11.762.419
Currency 13.509.156 13.501.788 790.220 12.711.568 5.646 1.401 321
Transferable deposits 172.986.327 160.923.102 0 160.923.102 479.432 464.642 11.119.152
Other deposits 51.201.019 37.100.175 6.068.322 31.031.853 6.233.353 7.224.545 642.946
Securities other than shares 458.642.356 434.281.643 177.164.873 257.116.770 2.794.499 12.590.577 8.975.638
Securities other than shares, excluding financial derivatives 455.902.888 431.545.510 177.164.873 254.380.637 2.794.499 12.587.241 8.975.638
Financial derivatives 0 2.736.133 0 2.736.133 0 3.336 0
Loans 901.684.725 850.643.893 32.603.352 818.040.541 45.982.383 4.818.840 239.609
Shares and other equity 34.447.664 29.057.632 45.424 29.012.209 1.664.956 1.783.314 1.941.762
Shares and other equity, excluding mutual funds shares 34.200.467 29.057.632 45.424 29.012.209 1.664.956 1.783.314 1.694.565
Mutual funds shares n.a n.a n.a n.a n.a n.a 247.197
Insurance technical reserves - - - - - - -
Other accounts receivable 59.690.957 22.524.587 0 22.524.587 2.114.370 26.769.618 8.282.383
20
Financial Auxiliaries

Thousand TRY Financial corporations Financial corporations Financial corporations Financial corporations Financial corporations Financial corporations Financial corporations
2012 Total Monetary financial institutions Central Bank Other monetary financial institutions Other financial intermediaries Financial auxiliaries Insurance corporations and pension funds
Stocks of financial instruments S.12 S.121S.122 S.121 S.122 S.123 S.124 S.125
Financial Liabilities 1.744.007.371 1.624.828.425 246.661.396 1.378.167.029 54.662.143 24.801.461 39.715.342
Currency and deposits 1.059.702.174 1.054.960.214 223.328.150 831.632.064 0 4.741.961 0
Currency 60.525.482 60.525.482 60.525.482 0 0 0 0
Transferable deposits 305.842.197 305.842.197 144.528.524 161.313.673 0 0 0
Other deposits 693.334.495 688.592.534 18.274.144 670.318.391 0 4.741.961 0
Securities other than shares 50.444.486 47.255.597 0 47.255.597 3.085.139 103.750 0
Securities other than shares, excluding financial derivatives 46.092.164 42.908.577 0 42.908.577 3.085.139 98.448 0
Financial derivatives n.a 4.347.020 n.a 4.347.020 0 5.301 0
Loans 223.094.385 186.564.511 1.379.950 185.184.561 35.697.805 661.004 171.065
Shares and other equity 327.419.755 285.858.623 21.581.843 264.276.781 12.476.448 11.400.693 17.683.990
Shares and other equity, excluding mutual funds shares 319.403.191 285.858.623 21.581.843 264.276.781 4.459.884 11.400.693 17.683.990
Mutual funds shares n.a 0 0 0 8.016.564 n.a 0
Insurance technical reserves 19.166.818 - - - - - 19.166.818
Other accounts payable 64.179.753 50.189.480 371.454 49.818.026 3.402.751 7.894.053 2.693.469
21
Financial Auxiliaries

• Data Sources for S.124
• Unified Financial Reporting System of Capital
  Market Dealer Companies compiled from Capital
  Market Dealers Association
• Detailed balance sheet items of Savings Deposit
  Insurance Fund

22
Insurance Corp.
and Pension Funds

• Insurance Corporations and Pension Funds (S.125)
  in ESA 95
• .All financial corporations which are
  principally engaged in financial intermediation
  as the consequence of the pooling of risks.
  (paragraph 2.60)

23

Insurance Corp. and Pension Funds

• Institutional Units in S.125
• insurance corporations
• reinsurance corporations
• (autonomous) pension funds

24

Insurance Corp. and Pension Funds

• Data Sources for S.125
• Financial reports of Insurance Companies and
  Pension Funds compiled by Treasury

COVERAGE OF INSURANCE COMPANIES AND PENSION FUNDS  
   
Insurance Companies 41
Reinsurance Companies 1
Pension Funds 17
   
TOTAL 59
Source Undersecratariat of Treasury  
25

Insurance Corp. and Pension Funds

Thousand TRY Financial corporations Financial corporations Financial corporations Financial corporations Financial corporations Financial corporations Financial corporations
2012 Total Monetary financial institutions Central Bank Other monetary financial institutions Other financial intermediaries Financial auxiliaries Insurance corporations and pension funds
Stocks of financial instruments S.12 S.121S.122 S.121 S.122 S.123 S.124 S.125
Financial assets 1.729.127.699 1.584.998.314 253.637.684 1.331.360.630 59.274.639 53.652.937 31.201.810
Monetary gold and SDRs 36.965.494 36.965.494 36.965.494 0 0 0 0
Monetary gold 34.297.820 34.297.820 34.297.820 0 0 0 0
Special drawing rights 2.667.674 2.667.674 2.667.674 0 0 0 0
Currency and deposits 237.696.503 211.525.065 6.858.542 204.666.523 6.718.431 7.690.588 11.762.419
Currency 13.509.156 13.501.788 790.220 12.711.568 5.646 1.401 321
Transferable deposits 172.986.327 160.923.102 0 160.923.102 479.432 464.642 11.119.152
Other deposits 51.201.019 37.100.175 6.068.322 31.031.853 6.233.353 7.224.545 642.946
Securities other than shares 458.642.356 434.281.643 177.164.873 257.116.770 2.794.499 12.590.577 8.975.638
Securities other than shares, excluding financial derivatives 455.902.888 431.545.510 177.164.873 254.380.637 2.794.499 12.587.241 8.975.638
Financial derivatives 0 2.736.133 0 2.736.133 0 3.336 0
Loans 901.684.725 850.643.893 32.603.352 818.040.541 45.982.383 4.818.840 239.609
Shares and other equity 34.447.664 29.057.632 45.424 29.012.209 1.664.956 1.783.314 1.941.762
Shares and other equity, excluding mutual funds shares 34.200.467 29.057.632 45.424 29.012.209 1.664.956 1.783.314 1.694.565
Mutual funds shares n.a n.a n.a n.a n.a n.a 247.197
Insurance technical reserves - - - - - - -
Other accounts receivable 59.690.957 22.524.587 0 22.524.587 2.114.370 26.769.618 8.282.383
26

Insurance Corp. and Pension Funds

Thousand TRY Financial corporations Financial corporations Financial corporations Financial corporations Financial corporations Financial corporations Financial corporations
2012 Total Monetary financial institutions Central Bank Other monetary financial institutions Other financial intermediaries Financial auxiliaries Insurance corporations and pension funds
Stocks of financial instruments S.12 S.121S.122 S.121 S.122 S.123 S.124 S.125
Financial Liabilities 1.744.007.371 1.624.828.425 246.661.396 1.378.167.029 54.662.143 24.801.461 39.715.342
Currency and deposits 1.059.702.174 1.054.960.214 223.328.150 831.632.064 0 4.741.961 0
Currency 60.525.482 60.525.482 60.525.482 0 0 0 0
Transferable deposits 305.842.197 305.842.197 144.528.524 161.313.673 0 0 0
Other deposits 693.334.495 688.592.534 18.274.144 670.318.391 0 4.741.961 0
Securities other than shares 50.444.486 47.255.597 0 47.255.597 3.085.139 103.750 0
Securities other than shares, excluding financial derivatives 46.092.164 42.908.577 0 42.908.577 3.085.139 98.448 0
Financial derivatives n.a 4.347.020 n.a 4.347.020 0 5.301 0
Loans 223.094.385 186.564.511 1.379.950 185.184.561 35.697.805 661.004 171.065
Shares and other equity 327.419.755 285.858.623 21.581.843 264.276.781 12.476.448 11.400.693 17.683.990
Shares and other equity, excluding mutual funds shares 319.403.191 285.858.623 21.581.843 264.276.781 4.459.884 11.400.693 17.683.990
Mutual funds shares n.a 0 0 0 8.016.564 n.a 0
Insurance technical reserves 19.166.818 - - - - - 19.166.818
Other accounts payable 64.179.753 50.189.480 371.454 49.818.026 3.402.751 7.894.053 2.693.469
27
CBTs Experience

Financial Assets of Non-Bank Financial Sector
28
CBTs Experience

Financial Liabilities of Non-Bank Financial Sector
29
CBTs Experience

FINANCIAL SECTOR RATIOS IN PERCENT OF GDP FINANCIAL SECTOR RATIOS IN PERCENT OF GDP
Total Assets in Millions of TRY as of 2012 In Percentage of GDP
Monetary Financial Intitutions 1.584.998 111,9
Other Financial Intermediaries 59.275 4,2
Financial Auxiliaries 53.653 3,8
Insurance Companies and Pension Funds 31.202 2,2
Source CBT, Turkstat
30
CBTs Experience

Asset Composition of Non-Bank Financial
Institutions
31
CBTs Experience

Liability Composition of Non-Bank Financial
Institutions
32
CBTs Experience

• Periodic Reports on Non-Bank Financial Sector
• OECD Institutional Investors Survey
• Financial Accounts (OECD, Eurostat, CBT web site)
• Statistics on Non-Bank Financial Sector (CBT web
  site)

33
Future Work
34
PLEASE CONTACT FOR FURTHER INFORMATIONAYCAN
ÖZEKPHONE 90 312 5076915E-MAIL
aycan.ozek_at_tcmb.gov.tr CENTRAL BANK OF
TURKEYSTATISTICS DEPARTMENTMONETARY AND
FINANCIAL STATISTICS DIVISION