New Financial Sector Delineation in SNA 2008: How To Compile and How To Analyse – First Assessment for Austria
Michael Andreasch
Statistics Department, Oesterreichische Nationalbank, Vienna, Austria

The new sector delineation for the financial sector in line with the requested breakdowns in SNA 2008 and ESA 2010 respectively will have various consequences. The major challenges from the viewpoint of the compilation will be to split the so-called sector “other financial intermediaries, except insurance corporations and pension funds” into three sub-sectors and to allocate properly holding companies and head offices as well as financial vehicle corporations engaged in securitisation transactions.

Apart from the changes in the compilation routine the new sector delineation will have an impact on the analyses of the financial sector and non-financial corporations as all holdings companies will be allocated as units within the new sector “captive financial institutions and money lenders”. At present holding companies are allocated either as nonfinancial corporations or as financial corporations depending on the main activities of the daughter companies. Therefore the shift will change both the total position of assets and liabilities of the economic sectors and the structure of the balance sheets data.

The envisaged paper is structured as follows: Section 1 will elaborate the main changes in the sector delineation of the financial sector between SNA93/ESA95 and SNA2008/ESA2010 from a theoretical viewpoint. Section 2 will describe the existing data sources used in Austria and requested changes to fulfil the new sector breakdowns. Section 3 is designated to explore the “from-whom-to-whom” relationship between the subsectors within the financial sector and their linkages with other sectors based both on the existing scenario and the new scenario with the main focus on the treatment of holding companies and head offices. Section 4 will conclude by showing further steps in the process of implementation in Austria.

Keywords: SNA 2008; Financial sector; Delineation; Austria

Biography: Michael Andreasch was born in Vienna on 1 August 1961. He is working at the Oesterreichische Nationalbank since 1981. Initially he worked in the area of balance of payments statistics, since 2000 in the area of financial accounts. He is Senior Expert and represents the central bank in various international meetings. He is married and has two children.