Joint Financial and Payments Systems Task Team (FITT)
The Joint Financial and Payments Systems Task Team (FITT) will advise the Inter‑secretariat Working Group on National Accounts (ISWGNA) and IMF’s Committee on Balance of Payments Statistics (BOPCOM) in the process of updating the System of National Accounts 2008 (2008 SNA) and the sixth edition of the Balance of Payments and International Investment Position Manual (BPM6). The FITT will deal with issues arising from evolution of financial/payments systems and on the treatment of specific issues relating to equity income within the framework of the revision.
FITT will be operational mostly throughout the Phase I of the update process (March 2020–March 2022). However, FITT may also be consulted during Phase II (drafting of the 2025 SNA and the BPM7 chapters) on an as-needed basis, should any significant issues arise during the worldwide consultation process.
Further details on the mandate and operations; guidance notes and working procedures; composition; and key issues to be addressed by the FITT are provided in the Terms of Reference.
Draft Guidance Notes for Global Consultation
The purpose of this global consultation is to receive feedback from worldwide compilers/users of macroeconomic statistics not involved in the update process, with a view to informing further the proposals to be presented for formal approval to the IMF’s Committee on Balance of Payments Statistics (BOPCOM)/Advisory Expert Group on National Accounts (AEG). Each GN will be available for a period of four-weeks for global consultation after its posting on this webpage. Please refer to the BPM6 Update: Compendium of Research Issues for the full list of topics on which GNs will be prepared by the BPM6 Update Task Teams and made available for global consultation.
If you want to provide comments on a GN, please click the accompanying link to access the survey.
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F.1 More Disaggregated Institutional Sector and Financial Instrument Breakdowns (Survey on this Guidance Note closed on February 4, 2022) |
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F.2 Asymmetric Treatment of Retained Earnings (Survey on this Guidance Note closed on June 19, 2021) |
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F.3 Reverse Transactions (Survey on this Guidance Note closed on February 1, 2021) |
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F.4 Financial Derivatives by Type (Survey on this Guidance Note closed on May 31, 2021) |
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F.5 Treatment of Credit Default Swaps (Survey on this Guidance Note closed on October 19, 2020) |
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F.6 Capturing Non-Bank Financial Intermediation in the System of National Accounts and the External Sector Statistics (Survey on this Guidance Note closed on June 19, 2021) |
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F.7 Impact of Fintech on Macroeconomic Statistics (Survey on this Guidance Note closed on February 4, 2022) |
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F.8 Valuation of Debt Securities at Both Market and Nominal Value (Survey on this Guidance Note closed on October 19, 2020) |
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F.9 Valuation of Loans (Fair Value) (Survey on this Guidance Note closed on October 20, 2021) |
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F.10 Treatment of Cash Collateral (Survey on this Guidance Note closed on February 10, 2021) |
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| F.12 Covering Hybrid Insurance and Pension Products (Survey on this Guidance Note closed on October 22, 2021) | |
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F.13 Margins on Buying and Selling Transactions (Survey on this Guidance Note closed on June 10, 2022) |
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F.14 Treatment of Factoring Transactions (Survey on this Guidance Note closed on June 10, 2022) |
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F.15 Debt Concessionality (Survey on this Guidance Note closed on February 25, 2022) |
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F.16 Subscription Rights (Survey on this Guidance Note closed on May 31, 2021) |
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F.18 The Recording of Crypto Assets in Macroeconomic Statistics (Survey on this Guidance Note closed on February 25, 2022) |
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F.18 The Recording of Fungible Crypto Assets in Macroeconomic Statistics: Users Consultation (Survey closes March 3, 2023) |
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| BN F.18 Survey | |