Page 464 - Invited Paper Session (IPS) - Volume 1

IPS177 Sayako K. M. et al.

(Chart 4) Holdings of Foreign Debt (Chart 5) Ratio of Foreign Debt Securities
Securities in Foreign Securities

CB: Central Bank, NFC: Non-financial corporations, ODC:
Other deposit-taking corporations,
OFC: Other financial corporations,
GG: General government, ICPF: Insurance corporations and
pension funds, HH&NPISH: Households & NPISH

3.5 Future issues
We are still in the early stage in terms of achieving the DGI-2
recommendations II.8 on Institutional Sector Accounts. There is still more
room to enhance the foreign debt securities data if more granular data are
available. In addition, we have other remaining issues as mentioned in 3.2,
including the breakdown of loans and debt securities by maturity and currency
in both asset and liability sides. We plan to further collect new additional
disaggregated/granular data to compile the breakdown of loans, debt
securities, and foreign securities, while giving due consideration to the balance
between respondent burden and users’ convenience for economic and
financial analysis.

4. Summary
This paper presented our progress in the implementations of the DGI-2
recommendations II.7 on securities statistics and II.8 on institutional sector
accounts. Regarding securities statistics, we describe what type of new data
sources and methodology will be applied to identify the breakdown data by
currency, maturity, interest rate, and the domestic/international market. The
preliminary outcomes on debt securities show some important features of
Japan’s debt securities market. Regarding institutional sector accounts, we
present our initiatives to decompose the foreign securities into foreign debt
securities, foreign equities and foreign investment funds with some
outstanding features based on the tentative outputs. Toward the final deadline
in 2021, we will continue to work on the remaining issues relating to the DGI-
2 recommendations.

453 | I S I W S C 2 0 1 9