Brief

ECB STATI STIC S

A BRIEF OVERVIEW
ApRI l 2010

EN

The main purpose of the European statistics developed, produced and disseminated by the European Central Bank (ECB) is to support the monetary policy of the ECB, as well as the other tasks of the Eurosystem and the European System of Central Banks (ESCB), including tasks related to financial stability. In addition, the ECB’s Europeanstatistics serve users such as financial market analysts, academics and the general public. This leaflet briefly describes the statistics which the ECB – assisted by the national central banks (NCBs) of the European Union – develops, collects, compiles and disseminates. BACKGROUND INFORMATION In compiling statistics, the ECB is assisted by the national central banks. The NCBs (and, in some cases,other national authorities) collect data from monetary financial institutions (MFIs), other financial intermediaries, and other reporting agents and sources in their respective countries. They calculate aggregates at the national level, which they send to the ECB, and the ECB then compiles and disseminates aggregates for the euro area.

The main features of the ECB’s statistics are as follows.focus mainly on • They have to be basedthe euro area. All underlying national data on a common set of definitions and classifications in order to ensure that they are sufficiently comparable and to produce a meaningful aggregate. Most EU Member States outside the euro area have adopted the same standards, allowing EU-wide coverage where relevant. The legal basis • compilation andfor the ECB’sdevelopment, iscollection, in dissemination of statistics laid down the Statute of the European System of Central Banks and of the European Central Bank. The ECB has adopted and published a number of legal acts concerning a wide range of different types of statistics. that its statistical requirements • While ensuringto minimise the burden that the are met, the ECB seeks reporting of statistics places oncredit institutions and other reporting agents. It therefore uses existing statistics wherever possible. The ECB the quality of • statistics. attaches great importance to internationallyits It therefore takes account of agreed quality standards in the performance of its statistical function and is committed to good governance and the highest ethical standards. It is also committed to conductingits tasks in a spirit of cooperation and teamwork. The ECB other institutions • Europeanworks closely with thefor statistics at the of the Union. Responsibility European level is shared between the ECB and Eurostat (the Statistical Office of the European Union; part of the European Commission). The precise division of labour is set out in the Memorandum of Understanding on Economic and FinancialStatistics of March 2003, which can be found on the ECB’s website. The ECB also maintains a with other • international organisationsclose relationshipdomain. in the statistical Wherever possible, ECB statistics conform to international standards.

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WHAT STATISTICS DOES THE ECB pRODUCE? The main types of statistics published by the ECB are as follows. Monetary statistics and statistics relatingto financial institutions and markets Each month, the ECB compiles and disseminates a wide range of monetary statistics and indicators, including details of the broad monetary aggregate M3 (a measure of the money supply), its components (banknotes and coins, short-term deposits and short-term marketable instruments issued by MFIs) and its counterparts (notably credit granted by MFIs, and MFIs’longer-term liabilities). The ECB also adjusts these monthly statistics to take account of seasonal factors, which makes it easier to analyse trends. Monetary aggregates and their counterparts are calculated from the balance sheet of the MFI sector (including the Eurosystem), which is also published on a monthly basis. MFIs are institutions – such as banks and money market funds – that take...