Methodological Notes on Financial Corporations Survey
Financial Corporations Survey (FCS) is formed in accordance with the requirements of international statistical standards for compilation macroeconomic financial indicators.
The methodological basis for compilation data in Financial Corporations Survey are Monetary and Financial Statistics Manual and Compilation Guide (2016)1 and the System of National Accounts (SNA 2008).2 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 Financial Corporations Survey on a quarterly basis.
The data in Financial Corporations Survey may be adjusted due to changes in reporting data, new sources of information, and methodological changes.
General information
Financial Corporations Survey consolidates the data of Depository Corporations Survey and Other Financial Corporations Survey. The consolidation was carried out by netting all mutual claims and liabilities between depository corporations, on the one hand, and other financial corporations, on the other hand, and by summing their claims and liabilities to other economic sectors and nonresidents.
Institutional sectors3
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 consume and production cooperatives (excluding credit and insurance) with the participation of legal entities.
Other financial corporations are 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 the 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.
Description of individual items
Net foreign assets are net transactions with claims on nonresidents and liabilities to nonresidents made by the Bank of Russia, credit institutions and other financial corporations in foreign currency and rubles.
Claims on nonresidents are assets of depository corporations and other financial corporations with nonresidents.
Liabilities to nonresidents are liabilities of depository corporations and other financial corporations to nonresidents.
Domestic claims are claims of depository corporations, other financial corporations on nonfinancial corporations and households, as well as net claims on general government.
Net claims on general government are claims of depository corporations and other financial corporations on federal government of the Russian Federation, government authorities of the constituent entities of the Russian Federation and local governments, government and other extra-budgetary funds less liabilities of depository corporations and other financial corporations to general government.
Claims on general government are investment of depository corporations and other financial corporations in securities of federal government of the Russian Federation, government authorities of constituent entities of the Russian Federation and local governments, loans extended to general government and other receivables.
Liabilities to general government are funds of federal government of the Russian Federation, government authorities of the constituent entities of the Russian Federation, deposits and other liabilities of depository corporations and state financial corporations to federal government of the Russian Federation, government authorities of the constituent entities of the Russian Federation and local governments, government and other extra-budgetary funds, insurance reserves under agreements with general government, loans extended by general government, and other liabilities to general government.
Claims on other sectors are claims of depository corporations and other financial corporations on nonfinancial corporations and households.
Claims on nonfinancial corporations are investments of depository corporations and other financial corporations in debt securities and shares of nonfinancial organisations, loans extended to nonfinancial corporations, other receivables.
Claims on households are loans extended by depository corporations and other financial corporations to individual entrepreneurs and households.
Currency outside financial sector is cash issued in circulation by the Bank of Russia less cash in vaults of the Bank of Russia, credit institutions and other financial corporations.
Deposits are funds of residents of the Russian Federation (nonfinancial corporations and households) in settlement, current and time deposits and other deposits with depository corporations, both included in and excluded from money supply.
Securities other than shares are bonds, savings certificates and certificates of deposit issued by credit institutions and other financial corporations.
Loans are loans extended to credit institutions and other financial corporations by nonfinancial corporations and to households.
Insurance technical reserves are total funds of other financial corporations to fulfil obligations to participants in pension plans and to resident insurers: nonfinancial organisations and households.
Shares and other equity are own funds of depository corporations and other financial corporations.
Other items (net) are other liabilities and assets not included in the above-mentioned aggregates, as well as discrepancies between mutual liabilities and claims of depository corporations and other financial corporations.
1 Monetary and Financial Statistics Manual and Compilation Guide (IMF, 2016).
2 System of National Accounts 2008 (European Commission, United Nations, Organization for Economic Cooperation and Development, International Monetary Fund, World Bank).
3 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 B ‘Classification of institutional sectors of the economy’ to the All-Russian Classification of Forms of Incorporation OK