OECD HOUSEHOLDS

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OECD HOUSEHOLDS ASSETS LIABILITIES Table
7HAL Progress report on data collection and
future perspectives

• Working Party on Financial Statistics
• Paris, 29 November 1 December 2010
• Federico GIOVANNELLI
• Quarterly National Accounts and Financial
  Statistics
• OECD Statistics Directorate

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OBJECTIVES OF THE PRESENTATION

• Main results of the 2010 data collection on
  Households Assets and Liabilities (T7HAL).
• Quarterly data main results of the survey on
  data availability and future perspectives.

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BACKGROUND

• 2005 first data collection on households
  financial and non-financial assets (Table 7HA).
• 2008 extension of the OECD households assets
  database by adding liabilities on short- and
  long-term loans (AF41 and AF42). The former
  questionnaire Table 7HA becomes the Table 7HAL.
• 2009 results of the first data collection on
  households liabilities OECD countries
  encountered difficulties to report detailed data
  on consumer credit.
• 2010 reorganisation of the households loans
  classification and additional requirements on
  non-financial assets.

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NEW ASSET STRUCTURE OF T7HAL

• On the financial side
• Creation of a new instrument called AF6124 (other
  pension plans and unfunded pension plans) which
  includes the former assets AF613 and AF614.
• On the non-financial side
• New items required new breakdown.

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NEW LIABILITY STRUCTURE OF T7HAL

• Consumer credit now appears on both short- and
  long-term side.
• Financial instruments at 6 digit level are
  eliminated.
• Financial instruments at 5 digit level are
  optional.

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MAIN RESULTS OF THE 2010 DATA COLLECTION

• The database contains data for 31 countries (two
  new countries ISR and SVN).
• Missing countries are Chile and Iceland.
• 28 countries report 2009 data.
• Most countries provide data back to 1995 as
  requested, except IRL, ISR, KOR, MEX, POL, SVN
  and CHE.
• 14 countries cover data for the sector S14
  (Households) as requested, and 18 for the
  aggregated sector S14_S15 (Households and NPISH).

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ASSET COVERAGE COMPARED WITH THE 2009 COLLECTION

• On the financial side the overall coverage
  increases, passing from 44 (in 2009) to 48 (in
  2010) of the total requested series.
• Some countries improve their data coverage, e.g.
  MEX (from 28 to 50).
• While others reduce it, e.g. POL (from 60 to
  13).
• On the non-financial side the overall coverage
  increases, mainly due to the breakdown
  enhancement.
• Too many agencies do not report non-financial
  data, because they do not compile them, even if
  data exist in another agency!

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LIABILITY COVERAGE COMPARED WITH THE 2009
COLLECTION

• The number of provided series
• increases from 61 (in 2009) to 75 (in 2010) for
  the 3 digit level series.
• increases from 22 (in 2009) to 29 (in 2010) for
  the 4 digit level series.
• Regarding consumer credit
• the new classification
• has considerably improved the data transmission
  for three countries (i.e. CAN, HUN and NLD).
• the rest of the OECD countries have recorded no
  significant variation.
• Regarding house purchase loans
• The number of series remains the same as last
  year.

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SOME INFO FIGURES

• The most complete questionnaires received in 2010
  are from
• the same countries as last year (i.e. HUN, USA,
  ITA, FRA, ESP).
• plus some new outsiders, e.g. NLD providing 43
  time series out of the 54 requested.
• The entire database is published on-line on the
  OECD data warehouse called OECD.Stat.
• Neither paper publication nor CD-ROMs are
  released for the time being.

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QUARTERLY DATA SURVEY MAIN RESULTS

• A survey on quarterly data availability has been
  sent this year to better know the current and
  future quarterly coverage of assets and
  liabilities of households.
• 30 countries out of 35 (including accession
  countries) filled out the survey.
• Some countries report a limited coverage, while
  others register a wider availability of quarterly
  data. However, the general assessment is positive
  on both the asset and liability side.
• Quarterly non-financial assets are generally
  reported as N.A. because the respondent
  institution is not the responsible for
  non-financial data gt To be further explored.

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QUARTERLY DATA SURVEY FUTURE PERSPECTIVES

• Following the positive results of the survey, the
  Secretariat is planning to collect quarterly data
  on Households assets and liabilities (T7HAL) next
  year (2011).
• Depending on the success of the collection,
  households financial indicators could be produced
  on a quarterly basis to complement the financial
  indicators based on Financial Accounts.

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CONCLUSIONS

• The OECD Secretariat thanks the delegates and all
  financial experts for their co-operation and
  contributions to the 7HAL database during the
  past year.
• The overall data collection has improved compared
  to last year, however efforts need to be done to
  report non-financial assets.
• The OECD Secretariat is looking forward to
  receiving quarterly data on T7HAL next year.

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THANK YOU FOR YOUR ATTENTION