Methodological Notes on Depository Corporations Survey
The Depository Corporations (DC) Survey is formed in accordance with the requirements of international statistical standards for forming macroeconomic financial indicators and represents aggregated balance sheet items of Other Depository Corporations (ODC)1 and the Central Bank of the Russian Federation2.
The methodological basis for compilation data in Depository Corporations Survey are Monetary and Financial Statistics Manual and Compilation Guide (2016)3 and the System of National Accounts (SNA 2008).4 In accordance with international standards, monetary indicators are broken down by financial instrument and by economic sector in rubles and foreign currency.
The Bank of Russia publishes the Depository Corporations Survey on a monthly basis.
The data in Depository Corporations Survey may be adjusted due to changes in reporting data, new sources of information and methodological changes.
General information
The Depository Corporations Survey consolidates data provided in the Central Bank Survey and the Other Depository Corporations Survey (data are consolidated by netting of all mutual claims and liabilities between credit institutions and the Bank of Russia, and by adding their operations with other economic sectors and nonresidents).
Institutional sectors5
Nonresidents are institutional units that have their centre of predominant economic interest outside the Russian Federation.
Nonfinancial corporations are organisations manufacturing products and rendering nonfinancial services at market prices irrespective of their ownership form and organisational and legal structure. The sector of nonfinancial corporations also includes unitary enterprises and agricultural consumer (excluding credit and insurance) and production cooperatives with the participation of legal entities.
Other financial corporations include investment companies, management companies, depositories, specialised depositories, stock exchanges and commodity exchanges, brokerage houses, insurance companies, mutual insurance companies, pension funds, consumer credit cooperatives, microfinance organisations, leasing companies, factoring companies, pawnshops, financial market self-regulatory organisations, insurance agents and insurance brokers which are legal entities, and other financial corporations provided other financial services.
General government comprises ministries, agencies, extra-budgetary funds, institutions, non-profit organisations involved in public and local administration, finance, regulation and planning of economy, research, defence, environmental protection, internal order maintenance, and provision of free or subsidised services in education, healthcare, arts, and social security to households.
Households are individuals and individual entrepreneurs.
Descriptions of individual items
Net foreign assets are net transactions with claims on nonresidents and liabilities to nonresidents made by monetary authorities (the Central Bank of the Russian Federation and the Government of the Russian Federation) and credit institutions in foreign currency, national currency and precious metals.
Claims on nonresidents are foreign assets of monetary authorities and credit institutions: monetary gold and Special Drawing Rights (SDRs), foreign cash, deposits, debt securities, loans, as well as accrued interest, overdue loans (including overdue interest), shares and other forms of participation in equity, other claims.
Liabilities to nonresidents are all types of liabilities of monetary authorities and credit institutions to nonresidents: deposits, debt securities, loans, liabilities on SDR allocations, and other liabilities.
Domestic claims are total amount of DCs claims on other financial corporations, nonfinancial corporations and households, as well as net claims on general government in national and foreign currencies and precious metals.
Net claims on general government are DCs claims on federal government of the Russian Federation, government authorities of the constituent entities of the Russian Federation and local governments, government extra-budgetary funds and extra-budgetary funds of the constituent entities of the Russian Federation and local governments less DCs liabilities to the general government.
Claims on general government are DCs investments in securities issued by the federal government of the Russian Federation, government authorities of the constituent entities of the Russian Federation and local governments, loans and other receivables of the central bank and credit institutions to general government.
Liabilities to general government are deposits and other liabilities of the DCs to federal government of the Russian Federation, the government authorities of the constituent entities of the Russian Federation and local authorities, government and other extra-budgetary funds.
Claims on other sectors are claims of DCs on other financial corporations, nonfinancial corporations and households, debt securities, loans, as well as accrued interest, overdue loans, (including overdue interest), and other claims.
Claims on other financial corporations are DCs loans, granted to other financial corporations in rubles, foreign currency and precious metals, including claims on accrued interest, overdue debt (including claims on overdue interest), DCs investments in debt and equity securities of other financial corporations, and other receivables.
Claims on nonfinancial corporations are DCs loans, granted to nonfinancial corporations including accrued interest, overdue loans (including accrued overdue interest), in rubles, foreign currency and precious metals, DCs investments in debt and equity securities of nonfinancial corporations, and other receivables.
Claims on households are loans, accrued interest, overdue loans (including accrued overdue interest), provided by DCs to households in national and foreign currency, and precious metals.
Broad money liabilities are currency outside the banking system, all deposits of Russian Federation residents (legal entities and households) in national and foreign currencies classified by the level of liquidity as transferable deposits (comprising funds that can be immediately used as means of payment), and other deposits of Russian Federation residents (comprising funds that cannot be immediately used as means of payment), and also debt securities such as certificates of deposit and savings certificates issued by credit institutions.
Money supply (national definition) is the total amount of currency outside the banking system and deposits of Russian Federation residents (nonfinancial corporations, other financial corporations, households) with the banking system of the Russian Federation in rubles.
Currency outside banking system is currency in circulation issued by the Bank of Russia less currency held in cash vaults of the Bank of Russia and credit institutions.
Transferable deposits are Russian Federation residents’ funds (legal entities and households) in settlement, current and other demand accounts (including banks’ card payment accounts) opened with the Bank of Russia and operating credit institutions in rubles.
Other deposits are Russian Federation residents’ funds (legal entities and households) in term deposits and other funds held in national currency, deposits in foreign-currency and in precious metals, including accrued interest on the deposits opened with the Bank of Russia and operating credit institutions.
Transferable and other deposits include deposits of other financial institutions, nonfinancial organisations and households.
Debt securities included in broad money are Russian Federation residents’ funds (legal entities and households) invested in certificates of deposit and savings certificates issued by credit institutions.
Deposits excluded from broad money are Russian Federation residents’ funds in credit institutions which cannot be used during a certain period of time according to contractual terms or current terms of credit institution’s activities (e.g., clients’ funds reserved for conducting FX buy/sell transactions, clients’ funds in incomplete settlement transactions, and also all deposits of Russian residents held with credit institutions with revoked licences).
Debt securities excluded from broad money are bonds issued by credit institutions.
Shares and other equity are total own funds of Depository Corporations.
Other items (net) are assets and liabilities, which are not included in the above-mentioned aggregates and the consolidation adjustment.
Other liabilities are sum of the total respective aggregates of the Central Bank Survey and the Other Depository Corporations Survey.
Other assets are sum of the total respective aggregates in the Central Bank Survey and the Other Depository Corporations Survey.
Consolidation adjustment is the differences in mutual liabilities and claims of the Bank of Russia and credit institutions.
1 Other Depository Corporations — Credit Institutions.
2 Central Bank of the Russian Federation — Bank of Russia.
3 Monetary and Financial Statistics Manual and Compilation Guide (IMF, 2016).
4 System of National Accounts 2008 (European Commission, United Nations, Organization for Economic Cooperation and Development, International Monetary Fund, World Bank).
5 Institutional sectors are classified in accordance with the System of National Accounts Manual (2008) and the Monetary and Financial Statistics Manual and Compilation Guide (2016). The classification of economic sectors used to form SNA accounts complies with Appendix C ‘Classification of institutional sectors of the economy’ to the All-Russian Classification of Forms of Incorporation OK