Page 406 - Special Topic Session (STS) - Volume 3

STS552 Norhayati Razi
In view of the complex structures of external sector statistics and changing
needs users, the MDM is designed to allow maintainability of business rules
and centralised storage for reference data, such as standard codes, entity
information and ISIN profiles, to cater for any new development in the
international reporting standard. Upon completion of ETL linking the survey
submissions to the master data, the system will continue the mapping process
of transforming the granular data into reports, based on the hierarchy codes
which are designed to be aligned with the international Guidelines as follows:
i. Balance of Payments and International Investment Position Manual, Fifth
(BPM5) and Sixth (BPM6) Editions for the BOP Income and Financial
Account and the IIP;
ii. Coordinated Portfolio Investment Guide for CPIS;
iii. External Debt Statistics: Guide for Compilers and Users for EDS; and
iv. BIS Guidelines for Reporting IBS.

3. Compilation Challenges and Moving Forward
For the compilation of portfolio investment in the domestic market,
difficulties arise to obtain accurate information when the change of securities’
ownership are not fully settled through domestic custodians. These issues are
pertinent, particularly for ringgit debt securities, and pose increasing
challenges faced by the compilers in view of more sophisticated players,
mainly from the European markets. Nevertheless, as the aggregated stock by
custodian banks in RENTAS are transparent to the Central Bank, this has
helped the compilers to closely monitor the statistical reporting and ensure
the accuracy of the financial flow data for BOP compilation.
On the other hand, collecting information on portfolio investment abroad
has been hindered by insufficient details, and constraints imposed to limit the
reporting burden faced of the reporting entities. In addressing this issue, the
system was designed to provide flexibility to capture maximum information
that can be obtained from reporting entities, guided by the reporting
Guidelines. In addition, Malaysia has subscribed to the IMF initiatives for
sharing of ISIN information, mainly the ISIN codes, Country and the
Institutional Sector of the issuer through the secured channel IMF Box. Under
this arrangement, which is in pilot run, the participating countries are required
to share with IMF the ISIN codes for international securities subscribed by their
respective residents. IMF will then collate all ISIN submitted by the
participating countries and return these ISIN to the issuing countries to obtain
the accurate Institutional Sector. The updated information is stored in the
IMF’s ISIN database, and subsequently shared with the participating countries
of the securities subscribers. This will help all participating countries to
enhance the quality of the data on portfolio investment abroad, as well as the
CPIS data submission to IMF.

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