Methodological Notes on Other Depository Corporations Survey
Other Depository Corporations1 (ODC) Survey is formed in accordance with the requirements of international statistical standards for compilation macroeconomic financial indicators and represents aggregated balance sheet items of other depository corporations.
The methodological basis for compilation data in Other Depository Corporations Survey are Monetary and Financial Statistics Manual and Compilation Guide (2016)2 and System of National Accounts Manual (SNA 2008).3 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 Russia4 publishes Other Depository Corporations Survey on a monthly basis.
The data in Other Depository Corporations Survey may be adjusted due to changes in reporting data, new sources of information, and methodological changes.
General information
The main source of data for Other Depository Corporations Survey is the monthly consolidated balance sheet for operating credit institutions (excluding Russian credit institutions’ foreign branches) and credit institutions with revoked licenses — reporting form 0409101 ‘Trial Balance Sheet on the Accounting Records of a Credit Institution’.
Other sources of information:
- the balance sheet of the State Development Corporation VEB.RF;
- reporting form 0420867 ‘Report on Performing Operations, Types and Cost of Securities Recorded in Accordance With Contracts for Providing Services of a Specialised Depository to a Management Company Engaged in Trust Management of Pension Savings that the Pension and Social Insurance Fund of the Russian Federation Transferred to it, and on Transactions That the Said Management Company Conducts Using Pension Savings’;
- reporting form 0409711 ‘Report on Securities and Digital Rights’;
- reporting form 0409303 ‘Information on Loans Granted to Legal Entities’;
- reporting form 0409110 ‘Details on Individual Indicators of a Credit Institution’s Activity‘;
- reporting form 0409316 ‘Information on Loans Granted to Individuals’;
- reporting form 0409115 ‘Information on the Quality of Assets of a Credit Institution (Banking Group)’;
- data of the Moscow Exchange on trading results;
- data from the register of issues (additional issues) of securities of credit institutions, registered and cancelled by the Bank of Russia, as well as issues (additional issues) of securities earlier suspended and then renewed.
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 consume and production cooperatives (excluding credit and insurance) 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 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 credit institutions in foreign currency, national currency of the Russian Federation, and precious metals.
Claims on nonresidents are credit institutions’ asset with nonresidents, including foreign currency — foreign cash in credit institutions’ cash vaults; deposits — deposits and other funds, including correspondent accounts with nonresident banks in foreign currency, rubles and precious metals; debt securities — debt securities and bills issued by foreign governments, banks and other nonresidents; loans to nonresident legal entities and nonresident households; shares and other equity — securities of nonresidents, including investment funds shares and other forms of institutional units equity participation; other claims — investment in shares of foreign companies and banks, settlements with nonresident organisations and households, and other transactions with nonresidents.
Liabilities to nonresidents are credit institutions’ liabilities with nonresidents: deposits — LORO accounts and other funds received from nonresident banks, deposits and other funds attracted from nonresident households and legal entities in foreign and national currency and precious metals, including interest accrued; debt securities — nonresidents’ investment in debt securities of Russian credit institutions; loans — funds received under repo operations and other funds raised from nonresident legal entities and households; other liabilities — other transactions with nonresidents, including liabilities under letters of credit and other settlements with nonresident organisations and households.
Claims on the central bank are cash in national currency in credit institutions’ cash vaults; deposits — credit institutions’ funds with the Bank of Russia (correspondent accounts, required reserves, deposits, credit institutions’ balances on other transactions); debt securities — credit institutions’ investments in the Bank of Russia’s bonds.
Net claims on general government are credit institutions’ 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 credit institutions’ liabilities to the general government.
Claims on general government are debt securities of federal government of the Russian Federation, government authorities of the constituent entities of the Russian Federation and local governments; loans granted to federal government of the Russian Federation, government authorities of the constituent entities of the Russian Federation and local governments, government extra-budgetary funds of the Russian Federation and extra-budgetary funds of the constituent entities of the Russian Federation; other claims — credit institutions’ other accounts receivables to general government.
Liabilities to general government are deposits and other funds of federal government of the Russian Federation, government authorities of the constituent entities of the Russian Federation and local governments, government extra-budgetary funds, extra-budgetary funds of the constituent entities of the Russian Federation and local governments, including funds on federal government accounts, government authorities of the constituent entities of the Russian Federation accounts and local governments accounts; other liabilities — credit institutions’ other payables with general government.
Claims on other sectors are credit institutions’ claims in rubles and foreign currency on other financial corporations, nonfinancial corporations and households.
Claims on other financial corporations are 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), credit institutions’ investments in debt and equity securities of other financial corporations, as well as other forms of equity of other financial corporations and other receivables on settlement transactions with other financial corporations.
Claims on nonfinancial corporations are loans granted to nonfinancial corporations in rubles, foreign currency and precious metals, including claims on accrued interest, overdue debt (including claims on overdue interest), credit institutions’ investments in debt and equity securities of nonfinancial corporations, as well as other forms of equity of nonfinancial corporations and other receivables on settlement transactions with nonfinancial corporations.
Claims on households are loans granted to households in rubles, foreign currency and precious metals, claims on interest accrued, and overdue debt (including claims on overdue interest).
Liabilities to the central bank are credit institutions’ amount outstanding on debt securities, amount outstanding of loans provided by the Bank of Russia, including accrued interest (as well as overdue debt and accrued overdue interest), as well as funds granted by the Bank of Russia to credit institutions under repo and other contracts to raise funds.
Deposits included in broad money are all funds held by the Russian Federation residents (legal entities and households) on operating credit institutions’ accounts and deposits. Deposits are classified by the level of liquidity as transferable deposits, including funds, which can be used immediately as means of payment, and other deposits that are not used directly as means of payment.
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 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 operating credit institutions in rubles.
Transferable and other deposits consist of deposits of other financial corporations, nonfinancial corporations 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 with 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 own funds of credit institutions. They include authorised capital and supplementary capital, reserve and other funds formed from profit, current year financial results and profits and losses of previous years.
Other items (net) are other assets and other liabilities of credit institutions (which are not included in the above-mentioned items) and the consolidation adjustment.
Other liabilities are deferred income, provisions for losses on active operations, depreciation of fixed assets, escrow accounts of households for the contracts for participation in shared-equity construction and under real estate sale and purchase transactions, as well as other payables of credit institutions.
Other assets are transactions related to credit institutions’ activities (items on fixed assets accounting, capital investment and other administrative expenditures), gold and other precious metal reserves, and expenses of the future periods.
Consolidation adjustment is the differences in credit institutions’ mutual liabilities and mutual claims.
The MEMO ITEM section provides details on the item Loans to households in rubles and foreign currency with a breakdown by the lending purpose:
- mortgages;
- car loans;
- consumer loans;
- other loans;
- claims for accrued interest.
Mortgages involves housing loans, housing mortgage loans and housing mortgage loans secured by claims under equity construction contracts granted by credit institutions to households-residents of the Russian Federation in rubles and foreign currency.
Housing loans include loans granted to households-residents in order to:
- purchase and land development for upcoming housing construction (land loans);
- finance construction (including repair) works (construction loans);
- purchase housing (loans to purchase housing).
Housing mortgage loans include housing loans secured by real estate granted to households- residents in accordance with the procedure established by the law on mortgages.
Housing mortgage loans secured by claims under equity construction contracts include housing mortgage loans granted to households in accordance with the procedure established by the law on participation in shared equity construction.
Car loans are loans for purchase of motor vehicles secured by a pledge of these motor vehicles.
Consumer loans are loans for purposes not related to business activity.
Other loans are other funds granted by credit institutions for other purposes.
Claims for accrued interest are accrued (accumulated) interest on granted loans (funds) that are to be received within the time frames set in contracts or when the circumstances provided for by the contract occur.
1 Other Depository Corporations — Credit Institutions.
2 Monetary and Financial Statistics Manual and Compilation Guide (IMF, 2016).
3 System of National Accounts 2008 (European Commission, United Nations, Organization for Economic Cooperation and Development, International Monetary Fund, World Bank).
4 Bank of Russia — Central Bank of the Russian Federation.
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 sectors of the economy used in compiling SNA accounts corresponds to Appendix B ‘Classification of Institutional Sectors of the Economy’ to the All-Russian Classification of Forms of Incorporation OK