Methodological notes on from-whom-to-whom tables of financial accounts of the system of national accounts of the Russian Federation

I. General provisions

Financial accounts from-whom-to-whom tables compile in compliance with the System of National Accounts 2008 (SNA-2008)¹ and contain detailed information on the creditor/debtor relationship by financial instrument.

From-whom-to-whom matrix represent a set of statistical indicators by a specific financial instrument, where the sectors’ balance sheet positions or financial transactions are given by counterparty sector (i.e. creditors and borrowers are shown for each asset and liability).

The presented statistical information compiles in two formats: as a matrix or as time series. From-whom-to-whom matrix shows assets by sector of the economy horizontally and liabilities — vertically. Interrelations within one sector shown at the intersections of respective columns and rows.

II. From-whom-to-whom tables by the F.2 instrument (currency and deposits)

From-whom-to-whom tables compile for the following sectors of the economy²:

Classification and definitions of financial instruments in from-whom-to-whom tables correspond to SNA-2008.

Currency and deposits include currency (F.21, SNA-2008: 11.52), transferable deposits (F.22, SNA-2008: 11.54) and other deposits (F.29, SNA-2008: 11.59).

Currency consists of all notes and coins issued by central banks. Currency may be a liability only of two sectors, i.e. the subsector of the central bank (the currency of the Russian Federation) and the sector of the rest of the world (foreign currency). Currency may be an asset of institutional units in any sector.

Deposits include bank accounts, demand deposits, letters of credit, fixed-term deposits, financial corporations’ required reserves with the Bank of Russia and the reserve position in the IMF. Transactions between credit institutions (including non-resident banks), that involve both deposits and loans, are classified as deposits in accordance with the SNA-2008 (Inter-bank Position, F.221, SNA-2008: 11.56). Deposits can be the liabilities only for units within the deposit-taking corporations subsector and within the rest of the world sector.

The from-whom-to-whom tables compile on a non-consolidated basis, which implies that transactions in assets and the corresponding transactions in liabilities not eliminated within one institutional sector.

In some cases, there may be insignificant discrepancy between the total amount and the sum of components, as well as between respective indicators of financial accounts and balance sheets of financial assets and liabilities due to the rounding of data.

III. Data sources

The following data sources use for the compilation of the from-whom-to-whom tables by the currency and deposits:

In the absence of data on counterparts of transactions, some indicators in from-whom-to-whom table estimate using algorithms based on available sectoral accounts and balances as a residual or on a pro rata basis. The pro rata method employs relative asset and liability shares of sectors-counterparts in the total volume of assets/liabilities.

Mathematical techniques use to fill the gaps and to balance available data in from-whom-to-whom tables (specifically, the RAS method — a biproportional adjustment model).

The use of data source schemes for the compilation of from-whom-to-whom tables by the F.2 instrument (currency and deposits)