Page 457 - Invited Paper Session (IPS) - Volume 1

IPS177 Sayako K. M. et al.
1. Introduction
Following the financial crisis of 2008, which highlighted the data gaps in
economic and financial statistics, the G20 Finance Ministers and Central Bank
Governors endorsed the Data Gaps Initiative (DGI) in 2009, listing 20
recommendations for future statistical improvements. Currently, G20
economies and some non-G20 FSB member jurisdictions have been working
to advance the implementation of the second phase of the DGI (DGI-2)
recommendations, which are due for completion by 2021. Accordingly, the
Bank of Japan (BOJ) is implementing initiatives enabling better analysis of
economic and financial movements. This paper focuses on our progress on
the recommendations II.7 on securities statistics and II.8 on institutional sector
accounts. Section 2 outlines our progress in accessing new data sources,
methodology and preliminary outputs for securities statistics. Section 3
introduces our progress in compiling the institutional sector accounts with
partial outputs. Finally, section 4 concludes.

2. Securities Statistics
2.1 Requirements
Recommendation II.7 on securities statistics requests reporting of
issuance, holdings and from-whom-to-whom securities statistics to the
BIS. 1,2,3 This section focuses on our development of issuing data corresponding
to the intermediate target data for which economies are required to report
2018 data in alignment with their publicly made commitments, by May 2019
at the latest. More specifically, the intermediate target data focus on debt
securities issued by residents at the nominal values which are classified by
issuing sector, currency (domestic, foreign), maturity (original, remaining),
interest rate (fixed, variable), and market (domestic, international).

1 This recommendation requests G-20 economies "provide on a quarterly frequency, debt
securities issuance data to the BIS consistent with the Handbook on Security Statistics (HSS)
starting with sector, currency, type of interest rate, original maturity and, if feasible, market of
issuance. Reporting of holdings of debt securities and the sectorial from-whom-to-whom data
prescribed for SDDS Plus adherent economies would be a longer term objective."
2 G-20 DGI templates are available from Principal Global Indicator’s website
(http://www.principalglobalindicators.org/?sk=E30FAADE-77D0-4F8E-953C-
C48DD9D14735&sId=1452784383161).
3 The Securities Statistics data consist of three reporting templates: (1) reporting template 1
presents debt securities issues statistics by sector, currency, maturity, type of interest rate, and
by market of issuance; (2) reporting template 2 presents debt securities holdings statistics by
holding sector, residence of issuer, currency, maturity, type of interest rate, and by market of
issuance; and (3) reporting template 3 presents from-whom-to-whom debt securities issues and
holdings statistics by residence and sector of issuers and by residence and sector of holders.
Template 1 has three tables: tabl e 1.1 for stock at nominal value; table 1.2 for stock at
market value; and table 1.3 for net transactions at market value.
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