Introduction to Monetary and Financial Statistics for Central Banks

Introduction

This course provides participants with an introduction to the compilation of monetary statistics covering the central bank (CB) and other depository corporations (ODCs) in accordance with international standards. Course materials are based on the Monetary and Financial Statistics Manual and Compilation Guide (MFSMCG). The course discusses the principles of residency and sectorization of institutional units, the characteristics, and types of financial instruments, valuation principles, and other accounting issues that are relevant to the compilation of monetary statistics. Participants also become familiar with the defining characteristics of depository corporations (DCs), notably their role as money issuers, and with the main principles on which analysis of monetary and credit aggregates is based. The course consists of lectures, and exercises covering practical aspects of compiling monetary statistics, especially the use of financial statements for filling out standardized report forms (SRFs 1SR and 2SR) and the derivation of the respective surveys for the CB, ODCs, and the consolidated DCs sector. Participants should be prepared to ask questions and discuss challenges related to MFS compilation practices. This course is an abbreviated version of the longer, introductory MFS course traditionally offered by STA in person.

Course Objectives: Introduction to Monetary and Financial Statistics for Central Banks

• Compile monetary statistics (sectoral balance sheets and surveys) for the CB, ODC, and DC sectors
• Participants should be able to properly classify balance sheet accounts according to residency, counterpart sector, and type of financial instrument, and to correctly apply valuation and other accounting principles.
• Understand how the DCs survey and the main monetary and credit aggregates support the analysis of monetary policy.  
• The objective of this course is to provide an introduction to monetary and financial statistics for central banks.
• Participants will gain an understanding of the scope and importance of data collection and analysis, and be able to use the data to better understand and analyze the impact of monetary and financial policies.

Course Outline: Introduction to Monetary and Financial Statistics for Central Banks

Day 1

• Introduction to Monetary and Financial Statistics
• Overview of Central Banks
• Understanding the scope of Data Collection

Day 2

• Money and Credit Aggregates
• Reserve Money and Currency Aggregates
• Balance of Payments and External Sector Statistics

Day 3

• Compile monetary statistics for the CB, ODC, and DC sectors according to the methodology recommended by the MFSMCG using the SRFs 1SR and 2SR.
• Interest Rate Statistics
• Financial Soundness Indicators
• Financial Market Statistics

Day 4

• Time Series Analysis and Trends in Monetary and Financial Statistics
• Understanding the Interdependence of Data
• Analyzing the Impact of Monetary and Financial Policies

Day 5

• Developing Databases, Dissemination Strategies and Accessibility
• Quality Assurance, Compliance and Capacity Building
• Demonstrating the Importance of Monetary and Financial Statistics

Day 6

• International Standards and Global Cooperation
• Cross-Country Comparisons and International Cooperation
• Managing the Challenges of Data Dissemination

Day 7

• Regulations and Compliance with International Standards
• Compilation and Data Linkages
• Statistical Methodologies and Forecasting

Day 8

• Current Issues and Challenges in Monetary and Financial Statistics
• Application of New Technologies and Econometric Models
• Case Studies of Central Banks

Day 9

• Assessing Monetary and Financial Statistics Quality
• Identification of Statistical Gaps and Prioritization of Statistical Projects
• Discussions on Best Practices

Day 10

• Summary and Reflection
• Group Presentations and Discussions
• Final Assess