G20 DGI Recommendations
DGI-3 Recommendations
To support the production of data for the most urgent policy needs, IMF staff, in close cooperation with the Financial Stability Board (FSB) Secretariat and the Inter-Agency Group on Economic and Financial Statistics (IAG), and in consultation with participating economies, have developed a workplan for a new Data Gaps Initiative (DGI-3). The workplan was welcomed by the Finance Ministers and Central Bank Governors (FMCBGs) in October 2022. The DGI-3 covers 14 recommendations addressing priority policy needs in the areas of: (i) climate change; (ii) distribution of household income and wealth; (iii) fintech and financial inclusion; and (iv) access to private sources of data and administrative data, and data sharing to improve the timeliness and granularity of official statistics.
RECOMMENDATION III.1: GREENHOUSE GAS EMISSION ACCOUNTS AND NATIONAL CARBON FOOTPRINTS
RECOMMENDATION III.2: ENERGY ACCOUNTS
RECOMMENDATION III.3: CARBON FOOTPRINT OF FOREIGN DIRECT INVESTMENT
RECOMMENDATION III.4: CLIMATE FINANCE (GREEN DEBT AND EQUITY SECURITY FINANCING)
RECOMMENDATION III.5: FORWARD LOOKING PHYSICAL AND TRANSITION RISK INDICATORS
RECOMMENDATION III.6: GOVERNMENT CLIMATE IMPACTING SUBSIDIES
RECOMMENDATION III.7: CLIMATE CHANGE MITIGATION AND ADAPTATION CURRENT AND CAPITAL EXPENDITURES
RECOMMENDATION III.8: INCOME, CONSUMPTION, AND SAVINGS DISTRIBUTION
RECOMMENDATION III.9: WEALTH DISTRIBUTION
RECOMMENDATION III.10: FINTECH CREDIT
RECOMMENDATION III.11: DIGITAL MONEY
RECOMMENDATION III.12: FINTECH-ENABLED FINANCIAL INCLUSION
RECOMMENDATION III.13: ACCESS TO PRIVATE AND ADMINISTRATION DATA
RECOMMENDATION III.14: DATA SHARING
CLIMATE CHANGE-RELATED DATA GAPS
RECOMMENDATION III.1: GREENHOUSE GAS EMISSION ACCOUNTS AND NATIONAL CARBON FOOTPRINTS
The G20 FMCBGs have identified a need to monitor progress towards emission targets and the transition towards a low carbon economy. All G20 economies have updated their Nationally Determined Contributions (NDCs) as outlined under the Paris Climate Agreement. Consequently, there will be a need to track progress towards these targets on a regular and timely basis. In order to achieve these targets, G20 economies will need to undergo important industrial and structural reforms— in particular within the energy sector. There will be a need to monitor the progress of these reforms and their impact on Greenhouse Gas (GHG) emissions and carbon footprints. The development of internationally comparable annual Air Emission accounts and National Carbon Footprints will assist G20 and participating economies in monitoring the source of emissions and whether or not climate mitigation policies are having the desired effect.
RECOMMENDATION III.2: ENERGY ACCOUNTS
Transformation of the energy sector is key to addressing climate change. To achieve Nationally Determined Contributions (NDCs) defined under the Paris Agreement, policymakers will need to employ policies to facilitate the energy transition towards a low carbon economy. The energy accounts can be used to monitor the energy mix (including the share of renewable energy sources) used by economic activities in production, energy transformation and final consumption. As such, they are useful to monitor a wide variety of energy policies. Due to their consistency with the supply and use tables of the national accounts, energy accounts allow for the calculation of energy intensities (by economic activities), calculating multipliers, energy footprints, or performing structural decomposition analysis.
RECOMMENDATION III.3: CARBON FOOTPRINT OF FOREIGN DIRECT INVESTMENT
Understanding the source of Greenhouse Gas (GHG) emissions is key in developing effective policy. Estimates of GHG emissions broken down by Multinational Enterprises (MNEs) and domestic enterprises would help policymakers better understand where CO2 emissions are generated, who owns the enterprises generating them, and where the associated goods and services are consumed.
RECOMMENDATION III.4: CLIMATE FINANCE (GREEN DEBT AND EQUITY SECURITY FINANCING)
There is a growing need for policies that incentivize investment in green projects and activities that can mitigate climate change and help countries adapt to its implications. Policymakers will require data to track the source of funds available to fund these projects. Green financing is considered globally as a key instrument to support the transition to a more resilient economy.
Templates and other reporting information
Recommendation III.4 reporting templates
Other documentation
Recommendation 4 Self-Commitments for Green Debt Securities
RECOMMENDATION III.5: FORWARD LOOKING PHYSICAL AND TRANSITION RISK INDICATORS
There is a need to monitor risk related to increasingly frequent and severe climate hazards (such as floods, drought, and fires) and the transition effect of climate policy on populations, national wealth, and firms’ profitability and stability. These indicators will assist policymakers in determining the timing and scope of climate policies. It will also provide them an important tool to develop support for climate action.
RECOMMENDATION III.6: GOVERNMENT CLIMATE IMPACTING SUBSIDIES
Subsidies are one of the government policy tools available to tackle climate change. Policymakers required comparable estimates that provide insights into the extent government subsidy regimes are conducive to tackling climate change (or exasperating climate change).
RECOMMENDATION III.7: CLIMATE CHANGE MITIGATION AND ADAPTATION CURRENT AND CAPITAL EXPENDITURES
The Paris Climate agreement represents a key global effort to reduce greenhouse gas emissions and adapt to a changing climate. There is a need to track the level of expenditures incurred across G20 economies to mitigate and adapt to the effects of climate change to ensure G20 economies are on track to achieve national commitments.
INCOME, CONSUMPTION, SAVINGS AND WEALTH DISTRIBUTION RELATED DATA GAPS
RECOMMENDATION III.8: INCOME, CONSUMPTION, AND SAVINGS DISTRIBUTION
Policymakers are requesting statistics that allow them to understand the distributional impacts of policy choice. They require timely and granular distributional data alongside aggregate estimates to understand who is benefiting from economic growth, and how inequality develops over time. This will assist them in developing policies that are targeted towards specific household groups, to assess the distributional impact of specific policies and events, and to foster inclusive growth.
RECOMMENDATION III.9: WEALTH DISTRIBUTION
See Recommendation 8.
DIGITALIZATION AND FINANCIAL INNOVATION AND INCLUSION DATA GAPS
RECOMMENDATION III.10: FINTECH CREDIT
Policymakers need more comprehensive information to understand the access and usage of non-bank Fintech credit services and the potential build-up of vulnerabilities that could affect global financial stability.
RECOMMENDATION III.11: DIGITAL MONEY
The growing presence of new forms of digital money and crypto-assets used as a means of payment poses the potential for various policy issues such as cross-border usage and currency substitution. Establishing a data collection framework and collecting data on digital money will help policymakers to monitor these developments and any associated risks in the future, including on use of foreign Central Bank Digital Currencies (CBDCs), stablecoins, and other types of crypto-assets used as means of payment to ensure the proper coverage of monetary aggregates and international capital flows.
RECOMMENDATION III.12: FINTECH-ENABLED FINANCIAL INCLUSION
Financial inclusion is critical for sustainable and inclusive growth. Digitalization and fintech are having a significant impact on financial inclusion and access; yet the data to assist in understanding these trends are very scarce. Enhanced indicators on access to and usage of digital financial services, such as mobile payments, internet banking, and alternative financing platforms is key to monitoring the impact of financial innovation on financial inclusion of individuals, especially for the most vulnerable and financially underserved groups.
ACCESS TO PRIVATE AND ADMINISTRATIVE DATA, AND DATA SHARING DATA GAPS
RECOMMENDATION III.13: ACCESS TO PRIVATE AND ADMINISTRATION DATA
The G20 Finance Ministers and Central Bank Governors (FMCBGs) recognized that “improving data availability and provision, including on environmental issues, and harnessing the wealth of data produced by digitalization, while ensuring compliance with legal frameworks on data protection and privacy, will be critical to better inform [their] decisions.”
RECOMMENDATION III.14: DATA SHARING
Access to data is not sufficient. Procedures to share data in a secure and privacy preserving manner is required. Recommendation 14 aims to work towards an international microdata standard would cover principles, enablers, use cases of best practice data sharing (e.g., access for research purposes, cooperation between public and private sectors, open data initiatives, and good practices from non-statistical examples of data sharing), and measures of success.
DGI-2 Recommendations
In 2009, the G20 Finance Ministers and Central Bank Governors (FMCBG) endorsed a set of recommendations to support enhanced policy analysis of emerging risks and close the data gaps identified following the global financial crisis. In September 2015, the G20 FMCBG acknowledged the progress made and endorsed the completion of the first phase of the Data Gaps Initiative (DGI-1) and the launch of its second phase (DGI-2). The DGI-2 maintains continuity with the DGI-1 and its main objective is to implement the regular collection and dissemination of reliable and timely statistics for policy use. DGI-2 also includes new recommendations to reflect evolving policymaker needs.
RECOMMENDATION II.1: MANDATE OF THE DGI
RECOMMENDATION II.2: FINANCIAL SOUNDNESS INDICATORS (FSIS)
RECOMMENDATION II.3: FSI CONCENTRATION AND DISTRIBUTION MEASURES (CDM)
RECOMMENDATION II.4: DATA FOR GLOBAL SYSTEMICALLY IMPORTANT FINANCIAL INSTITUTIONS (G-SIFIS)
RECOMMENDATION II.5: NON-BANK FINANCIAL INTERMEDIATION (NBFI)
RECOMMENDATION II.6: DERIVATIVES
RECOMMENDATION II.7: SECURITIES STATISTICS
RECOMMENDATION II.8: INSTITUTIONAL SECTOR ACCOUNTS
RECOMMENDATION II.9: HOUSEHOLD DISTRIBUTIONAL INFORMATION
RECOMMENDATION II.10: INTERNATIONAL INVESTMENT POSITION (IIP)
RECOMMENDATION II.11: INTERNATIONAL BANKING STATISTICS (IBS)
RECOMMENDATION II.12: COORDINATED PORTFOLIO INVESTMENT SURVEY (CPIS)
RECOMMENDATION II.13: COORDINATED DIRECT INVESTMENT SURVEY (CDIS)
RECOMMENDATION II.14: CROSS-BORDER EXPOSURES OF NON-BANK CORPORATIONS
RECOMMENDATION II.15: GOVERNMENT FINANCE STATISTICS (GFS)
RECOMMENDATION II.16: PUBLIC SECTOR DEBT STATISTICS
RECOMMENDATION II.17: RESIDENTIAL PROPERTY PRICES
RECOMMENDATION II.18: COMMERCIAL PROPERTY PRICES
RECOMMENDATION II.19: INTERNATIONAL DATA COOPERATION AND COMMUNICATION
RECOMMENDATION II.20: PROMOTION OF DATA SHARING
Recommendation II.1: Mandate of the DGI
The G20 economies to regularly compile comparable and high quality economic and financial statistics in accordance with international standards and disseminate such statistics in a timely manner. The IAG to coordinate and monitor the implementation of the DGI recommendations, and promote the DGI webpage as a global reference. Staff of the FSB and IMF to provide annual updates on progress to G20 Finance Ministers and Central Bank Governors.
Monitoring Risks in the Financial Sector
Recommendation II.2: Financial Soundness Indicators (FSIs)
The G20 economies to report the seven Financial Soundness Indicators (FSIs) required from SDDS Plus adherent economies on a quarterly frequency, with a timeliness of one quarter. The G20 economies are encouraged to report the core and expanded lists of FSIs, with a particular focus on other (non-bank) financial corporations. The IMF to coordinate the work and monitor progress.
Lead IAG Member Agency: IMF*
Data
Financial Soundness Indicators (IMF)
Table 1 – Seven FSIs Required Under SDDS Plus
- Regulatory Tier 1 capital to risk-weighted assets
- Regulatory Tier 1 capital to assets
- Nonperforming loans net of provisions to capital
- Nonperforming loans to total gross loans
- Return on assets
- Liquid assets to short-term liabilities
- Residential real estate prices
Table 2 – FSIs for Other Financial Corporations
- OFC assets (percent of total financial system assets)
- OFC assets (percent of GDP)
Templates and other reporting information
Other documentation
IMF 2019 Financial Soundness Indicators Compilation Guide (publication)
FSI project and other related documents
Recommendation II.3: FSI Concentration and Distribution Measures (CDM)
The IMF to investigate the possibility of regular collection of CDMs for FSIs. The G20 economies to support the work of the IMF.
Lead IAG Member Agency: IMF*
Data
IMF will start collecting CDM data in new report templates by end of 2021 but currently the CDM tool for selected FSIs is provided to member countries only for their information and use.
Templates
CDM Computational tool (IMF)
Other documentation
IMF 2019 Financial Soundness Indicators Compilation Guide (publication)
Recommendation II.4: Data for Global Systemically Important Financial Institutions (G-SIFIs)
The G20 economies to support the BIS International Data Hub to ensure the regular collection and appropriate sharing of data about global systemically important banks (G-SIBs). In addition, the FSB, in close consultation with the IMF and relevant supervisory and standard setting bodies, to investigate the possibility of a common data template for non-bank G-SIFIs starting with insurance companies.
Lead IAG Member Agencies: FSB* (IMF)
Data
BIS collects:
- Monthly data on credit and funding exposures of reporting firms
- Quarterly data on balance-sheet exposures, by counterparty jurisdiction, sector, currency and maturity
Templates and other reporting information
Templates for Global Systemically Important Banks are available to G-SIB reporting jurisdictions
Other documentation
Monitoring Systemic Institutions for the Analysis of Micro-Macro Linkages and Network Effects (paper)
Globally Systemically Important Financial Institutions (G-SIFIs)
FSB welcomes insurance holistic framework (press release)
Recommendation II.5: Non-Bank Financial Intermediation (NBFI)
The FSB to conduct the annual monitoring exercise on NBFI and to implement the global data collection and aggregation on securities financing transactions (SFT). In addition, the OECD, in coordination with the FSB and the BIS, to investigate possibilities for further breakdown of the financial corporations sector (in SNA-based sectoral accounts) to better capture NBFI in macroeconomic statistics.
Lead IAG Member Agencies: FSB* (OECD)
Data
Global Monitoring Report on NBFI (FSB)
Main Monitoring Aggregates of the Global Monitoring Report on NBFI (FSB)
Global SFT Data Collection (FSB) – to be announced
Annual NBFI Statistics (OECD) – to be announced
Templates and other reporting information
FSB Global SFT Data Collection and Aggregation
FSB Global Securities Financing Data Collection and Aggregation - Frequently Asked Questions
Submitting SFT data to the BIS as the global data aggregator
OECD Questionnaire on NBFI – Table NASEC_TSB720_A_OECD.xlsx available by download
Other documentation
Standards and Processes for Global Securities Financing Data Collection and Aggregation
Non-cash Collateral Re-Use: Measure and Metrics (report)
OECD guidelines on non-bank financial intermediation (publication)
Sectoral accounts are consistent with the framework of the System of National Accounts 2008
Recommendation II.6: Derivatives
The BIS to conduct the Triennial Central Bank Survey and to review the derivatives data collected for the International Banking Statistics (IBS) and the semi-annual over-the-counter (OTC) derivatives statistics survey. The FSB, in line with its 2014 feasibility study on approaches to aggregate OTC derivatives data, to investigate the legal, regulatory, governance, technological, and cost issues that would support a future FSB decision on the potential development of a mechanism to aggregate and share at global level OTC derivatives data from Trade Repositories (TR).
Lead IAG Member Agencies: BIS*, FSB*
Data
National results published as part of the Triennial Central Bank Survey (BIS)
Semiannual OTC derivatives outstanding (BIS)
Templates and other reporting information
Reporting guidelines for the BIS Triennial Central Bank Survey
Reporting guidelines for OTC derivatives, amounts outstanding at end-June 2019 for non-regular reporting institutions (publication)
Other documentation
Research and analysis using the BIS derivatives statistics
Governance arrangements for OTC derivatives identifiers (press release)
BIS OTC derivatives statistics: explanatory notes (document)
FSB Progress Reports on Implementation
FSB feasibility study on approaches to aggregate OTC derivatives data (report)
FSB Thematic Review on OTC Derivatives Trade Reporting (report)
FSB Trade reporting legal barriers: Follow-up of 2015 peer review recommendations (report)
CPMI-IOSCO Technical Guidance - Harmonisation of the Unique Transaction Identifier (publication)
CPMI-IOSCO Technical Guidance - Harmonisation of the Unique Product Identifier (publication)
CPMI-IOSCO Technical Guidance - Harmonisation of critical OTC derivatives data elements (other than UTI and UPI) (publication)
Recommendation II.7: Securities Statistics
The G20 economies to provide on a quarterly frequency (with a timeliness of four months) debt securities issuance data to the BIS consistent with the Handbook on Securities Statistics (HSS) starting with sector, currency, type of interest rate, original maturity and, if feasible, market of issuance. Reporting of holdings of debt securities and the sectoral from-whom-to-whom data prescribed for SDDS Plus adherent economies would be a longer term objective. The BIS, with the assistance of the Working Group on Securities Databases, to monitor regular collection and consistency of debt securities data.
Lead IAG Member Agencies: BIS*, ECB* (WGSD)
Data
Debt securities statistics (BIS)
Reporting Template 1 – Debt securities issuance statistics
- Stocks at nominal value
- Stocks at market value
- Transactions at market value
Reporting Template 2 – Debt securities holdings statistics
- Stocks at market value
- Transactions at market value
Reporting Template 3 – From whom-to-whom debt securities statistics
- Stocks at market value
Templates and other reporting information
Recommendation II.7 reporting templates
Other documentation
Self-commitments by G20 economies
Self-commitments by non-G20 FSB member economies
Questionnaire responses on implementation of self-commitment for 2018 targets
Questionnaire responses on implementation of self-commitment for 2021 targets
BIS-ECB-IMF Handbook on Securities Statistics (HSS) (publication)
Complementary Note 1 to the HSS regarding calculation of accrued interest (document)
Complementary Note 2 to the HSS regarding classification of debt securities by interest rate type (document)
For further information on the work on Recommendation II.7, please also refer to the Working Group on Securities Databases (WGSD)
Vulnerabilities, Interconnections, and Spillovers
Recommendation II.8: Institutional Sector Accounts
The G20 economies to compile and disseminate, on a quarterly and annual frequency, sectoral accounts flows and balance sheet data, based on the internationally agreed template, including data for the other (non-bank) financial corporations sector, and develop from-whom to-whom matrices for both transactions and stocks to support balance sheet analysis. The IAG, in collaboration with the Inter-Secretariat Working Group on National Accounts (ISWGNA), to encourage and monitor the progress by G20 economies. The target by 2021 comprises data dissemination of non-financial and financial accounts and balance sheets, on an annual and quarterly basis. More advanced ambitions include annual and quarterly financial sector accounts presented on a from-whom-to-whom basis and annual non-bank financial intermediation statistics.
Lead IAG Member Agencies: IMF* and OECD* (IAG and ISWGNA)
Data
OECD
Target by 2021
-
Annual financial accounts transactions by sector - consolidated and non-consolidated
-
Annual financial balance sheets by sector - consolidated and non-consolidated
-
Quarterly financial accounts transactions by sector - consolidated and non-consolidated
-
Quarterly financial balance sheets by sector - consolidated and non-consolidated
More advanced ambitions (all encouraged)
- Annual financial sector accounts transactions from-whom-to-whom basis – flows and stocks
- Quarterly financial sector accounts transactions from-whom-to-whom basis – flows and stocks
- Annual non-bank financial intermediation statistics - to come
Templates and other reporting information
Other Documentation
Sectoral accounts are consistent with the framework of the System of National Accounts 2008
Institutional sector accounts compilation guide - to come
Eurostat-OECD Compilation Guide on Land Estimation (publication)
Eurostat-OECD Practical guidance on measuring Intellectual Property Products (publication)
Eurostat-OECD Compilation Guide on inventories (publication)
OECD Compiling mineral and mineral and energy resources according to SEEA 2012 (paper)
OECD Guidelines on collection of data on non-bank financial intermediation (publication)
Recommendation II.9: Household Distributional Information
The IAG, in close collaboration with the G20 economies, to encourage the production and dissemination of distributional information on income, consumption, saving, and wealth, for the household sector in line with national accounts. The OECD to coordinate the work in close cooperation with Eurostat and ECB.
Lead IAG Member Agencies: OECD* (Eurostat, ECB) - IAG
Data
Distributional results on income, consumption, and saving (OECD)
Table 1: Experimental statistics: Distributional information on household income, consumption and saving
Table 2: Experimental statistics: Supplementary socio-demographic information
Distributional results on income and consumption (Eurostat)
Table 1: Distributional national accounts for household income
Table 2: Distributional national accounts for household consumption
Table 3: Metadata
Templates and other reporting information
Other documentation
Guidelines for the compilation of distributional information on household income, consumption and saving in line with national accounts totals (publication)
Recommendation II.10: International Investment Position (IIP)
The G20 economies to provide IIP data to the IMF consistent with the Balance of Payment and International Investment Position Manual, sixth edition (BPM6), and including the enhancements such as the currency composition of financial assets and liabilities and separate identification of other (non-bank) financial corporations (OFCs), introduced in the Manual, on a quarterly frequency and maximum of one-quarter timeliness. IMF to monitor reporting and the consistency of IIP data, and consider separate identification of nonfinancial corporations, in collaboration with IMF Committee on Balance of Payments Statistics (BOPCOM).
Lead IAG Member Agency: IMF*
Data
Balance of Payments and International Investment Position Statistics (IMF)
IIP Data Tables (IMF)
- IIP by Country
- IIP by Indicator
- Currency composition by country, including reserve-related liabilities data
Data Query (customize data variables) (IMF)
Templates and other reporting information
Data template exist within the framework of BPM6 Appendix 9
Memorandum Tables (required):
- Currency Composition of Assets and Liabilities, Table A9-I
- Reserve-related Liabilities, Table A9-V short-term RRL nonresidents
Supplementary Tables (voluntary):
- Currency Composition of Assets and Liabilities, Tables A9-II (time series data), and Table A9-III Debt Claims and Liabilities with Instrumental Breakdown.
- Remaining Maturity of Debt Liabilities to nonresidents (at a reference date), Table A9-IV
- Reserve-related Liabilities, Table A9-V Reserve assets, RRL (short- and long-term), other foreign currency assets/liabilities
Other documentation
Archive IIP metadata and publications
IMF Balance of Payments Manual, 6th edition (BPM6) (publication)
BPM6 Compilation Guide (publication)
Recommendation II.11: International Banking Statistics (IBS)
The G20 economies to provide enhanced BIS international banking statistics. The BIS to work with all reporting countries to close gaps in the reporting of IBS, to review options for improving the consistency between the consolidated IBS and supervisory data, and to support efforts to make data more widely available. The target is for all G20 economies to fully implement the agreed enhancements by 2021.
Lead IAG Member Agency: BIS*
Data
Locational banking statistics (BIS)
Consolidated banking statistics (BIS)
Templates and other reporting information
Reporting guidelines for the BIS IBS
Information on submitting IBS to the BIS
Other documentation
Study group recommendations on potential enhancements to the BIS IBS (report)
IBS Metadata for reporting countries
Recommendation II.12: Coordinated Portfolio Investment Survey (CPIS)
The G20 economies to provide, on a semi-annual frequency, data for the IMF CPIS, including the sector of holder table and, preferably, also the sector of nonresident issuer table. The data to be reported with a maximum six-and-a-half months of timeliness. The IMF to monitor the regular reporting and consistency of data, to continue to improve the coverage of significant financial centers, and to investigate the possibility of quarterly reporting. The target is for the G20 economies to report CPIS by 2021.
Lead IAG Member Agency: IMF*
Data
Coordinated Portfolio Investment Survey (IMF)
CPIS Data Tables (IMF)
Core: Table 1-Total Portfolio Investment Assets
Encouraged:
Table 2-Portfolio Investment Assets by Currency of Denomination of the Securities Held
Table 3-Total Portfolio Investment Assets by Sector of Resident Holder
Table 4-Reported Portfolio Investment Liabilities by Economy of Nonresident Holder
Table 5-Total Portfolio Investment Assets by Sector of Nonresident Issuer
Table 6-Portfolio Investment Assets (Total Holdings) by Sector of Resident Holder, and Economy and Sector of Nonresident Issuer for Specified Economies
Table 7-Portfolio Investment Assets, Short or Negative Positions
Data Query (customize data variables) (IMF)
Templates and other reporting information
Table templates available in the Documents tab under the CPIS page.
Other documentation
CPIS Cross-Economy Metadata Comparison
CPIS Cross-Economy Metadata Detail
- CPIS Guide, 3rd edition
- CPIS FAQ
- CPIS Notes and definition
- Metadata Questionnaire
Recommendation II.13: Coordinated Direct Investment Survey (CDIS)
The G20 economies to participate in the IMF CDIS and provide a minimum of inward data by 2019. The reporting to improve including both inward and outward data with the split by net equity and net debt positions by 2021. Data reporting is on an annual frequency and with a maximum nine-month timeliness. The IMF to monitor the progress.
Lead IAG Member Agency: IMF*
Data
Coordinated Direct Investment Survey (IMF)
CDIS Data Tables (IMF)
Data Query (customize data variables) (IMF)
Templates and other reporting information
Table templates available in the Documents tab under the CDIS page.
Other documentation
CDIS Cross-Economy Metadata Comparison
CDIS Cross-Economy Metadata Detail
- CPIS Guide, 3rd edition
- CPIS FAQ
- Metadata Questionnaire
Recommendation II.14: Cross-Border Exposures of Non-Bank Corporations
The IAG to improve the consistency and dissemination of data on non-bank corporations’ cross-border exposures, including those through foreign affiliates and intra-group funding, to better analyze the risks and vulnerabilities arising from such exposures, including foreign currency mismatches. The work will draw on existing data collections by the BIS and the IMF, and on the development of the OECD framework for foreign direct investment. The G20 economies to support the work of the IAG.
Lead IAG Member Agencies: BIS*, IMF*, OECD*
Data
Locational Banking Statistics (BIS)
Consolidated Banking Statistics (BIS)
Other Financial Corporations Surveys based on Standard Report Form (SRF) 4SR (IMF)
Templates and other reporting information
Other documentation
Nonbank counterparties in international banking
About the BIS international banking statistics
IBS metadata for reporting countries
Research and analysis using the BIS International Banking Statistics
See notes for Other Financial Corporations within the IMF International Financial Statistics Country Notes
Monetary and Financial Statistics Manual and Compilation Guide (includes the new 4SR)
Recommendation II.15: Government Finance Statistics (GFS)
The G20 economies to disseminate quarterly general government data consistent with the Government Finance Statistics Manual 2014 (GFSM 2014). Adoption of accrual accounting by the G20 economies is encouraged. The IMF to monitor the regular reporting and dissemination of timely, comparable, and high-quality government finance data.
Lead IAG Member Agency: IMF*
Data
Government Finance Statistics (IMF)
Table 1 – Revenue, Expenditure, GOB - Gross operating balance, NOB - Net operating balance and NLB - Net lending (+) / net borrowing (-)
Table 2 – General Government debt and other balance sheet aggregates
Templates and other reporting information
Other documentation
Government Finance Statistics Metadata
Government Finance Statistics Manual (publication)
Recommendation II.16: Public Sector Debt Statistics
The G20 economies to provide comprehensive general government debt data with broad instrument coverage to the World Bank/IMF/OECD Public Sector Debt Statistics Database. The target is for G20 economies to report both general and central government debt statistics on a quarterly frequency with broad instrument coverage. The World Bank to coordinate the work.
Lead IAG Member Agencies: World Bank* (IMF, OECD, BIS)
Data
All participating economies
Quarterly Public Sector Debt (World Bank)
Public Sector Debt Statistics Prebuilt Tables (World Bank)
Table 1 Gross General Government Debt Position
Table 1.1 Gross Central Government Debt Position
Table 1.1.1 Gross Budgetary Central Government Debt Position
Table 2 Gross Nonfinancial Public Corporations Debt Position
Table 3 Gross Financial Public Corporations Debt Position
Table 4 Total Gross Public Sector Debt Position
OECD countries
Quarterly Public Sector Debt (OECD)
Quarterly Public Sector Debt by instrument coverage (OECD)
Templates and other reporting information
Quarterly Public Sector Debt Data Template (World Bank)
Public Sector Debt Template for OECD countries (OECD)
See section “Public Sector Debt”
Other documentation
About the Quarterly Public Sector Debt data
Public Sector Debt Statistics: Guide for Compilers and Users (publication)
Measuring Government Debt: From D1 to D4 (note)
Recommendation II.17: Residential Property Prices
Compile and publish residential property price indices (RPPI) broadly representative of the residential property market and consistent with the Handbook on Residential Property Price Indices, preferably as part of official statistics, and make these data available to the relevant international organizations, including the BIS, Eurostat, and OECD.
Lead IAG Member Agency: IWGPS* (IAG)
Data
Property Price Statistics, summary information (BIS)
Residential property prices: detailed series (nominal)
Residential property prices: selected series (nominal and real)
Preferred breakdown:
- RPPIs for both the whole country and the capital city
- RPPIs for all types of dwellings and its breakdown for single and multi-family dwellings
Additional indicators collected by Eurostat and the OECD:
- CPI for housing according to the COICOP classification
- Housing transactions (number and value)
Other documentation
Handbook on Residential Property Price Indices (RPPIs) (publication)
G20 Thematic Workshop on Residential and Commercial Property Price Indices (workshop)
International Conference on Real Estate Statistics (conference)
Recommendation II.18: Commercial Property Prices
Provide available Commercial Property Price Indicators (data and associated metadata, including descriptions of data source(s) and compilation procedures) to BIS, from private sources or sourced from official statistics, the latter being the preferred option.
Lead IAG Member Agency: IWGPS* (IAG)
Data
Commercial Property Prices, summary information (BIS)
Commercial Property Price time series (BIS)
Other documentation
Eurostat (2017) Commercial Property Price Indicators: Sources, Methods and Issues (publication)
G20 Thematic Workshop on Residential and Commercial Property Price Indices (workshop)
IFC Report (2019) Mind the Data Gap: Commercial Property Prices for Policy (report)
International Conference on Real Estate Statistics (conference)
Communication of Official Statistics
Recommendation II.19: International Data Cooperation and Communication
This recommendation fosters improved international data cooperation among international organizations and supports timely standardized transmission of data through internationally agreed formats (e.g., SDMX), to reduce the burden on reporting economies, and promote outreach to users. The IAG to continue to work with the G20 economies to present timely, consistent national data on the PGI website* and on the websites of participating international organizations.
Lead IAG Member Agencies: IMF*, Eurostat*
Data
International data exchange database (UN)
Pilot 1 – data on GDP and its main components, employment, and population
Pilot 2 – sectoral accounts data
Documentation
Statistical Data and Metadata eXchange (SDMX)
Status Report on the Implementation of Recommendation II.19 - to come
*The PGI website was decommissioned in June 2021 and replaced with this webpage.
Recommendation II.20: Promotion of Data Sharing
This recommendation promotes and encourages the exchange of data and metadata among and within G20 economies, and with international agencies, to improve the quality (e.g., consistency) of data, and availability for policy use.
Lead IAG Member Agencies: IMF*, Eurostat*
Documentation
2020 Status Report on the Implementation of Recommendation II.20
March 2017 Update on the DGI and the Outcome of the Workshop on Data Sharing
Proceedings of the 2017 G20 Workshop on Data Sharing - Part 1, Part 2, Part 3, Part 4, Part 5
2021 G20 Workshop on Promotion of Data Sharing
- Main Takeaways
- Main Feedback
- Agenda
- Welcome speech
- Session 1 – Data Sharing Solutions at Statistics Canada
- Session 1 – Recent Developments in the Field of Data Sharing
- Session 1 – Principled Data Access
- Session 2 –SDMX as a Standard for Data Sharing/Standardization
- Session 2 – INEXDA Work on Access Regimes and Metadata Structures for Micro Datasets
- Session 2 – What Role for Privacy-Preserving Computation for Inter-Institutional Data Sharing?
- Session 3 – Data Sharing in Cross-Border Enforcement in the Securities Markets
- Session 3 – Data Sharing and Administrative Data
- Session 3 – Sharing of Sensitive Health Data
- Session 4 – IMF Framework for Data Dissemination
DGI-1 Recommendations
RECOMMENDATION I.1: MANDATE OF THE DGI
RECOMMENDATION I.2: FINANCIAL SOUNDNESS INDICATORS (FSI)
RECOMMENDATION I.4: AGGREGATE LEVERAGE AND MATURITY MISMATCHES
RECOMMENDATION I.5: CREDIT DEFAULT SWAPS (CDS)
RECOMMENDATION I.6: STRUCTURED PRODUCTS
RECOMMENDATION I.7: SECURITIES STATISTICS
RECOMMENDATION I.8: DATA FOR GLOBAL SYSTEMICALLY IMPORTANT FINANCIAL INSTITUTIONS (G-SIFIS)
RECOMMENDATION I.9: DATA FOR GLOBAL SYSTEMICALLY IMPORTANT FINANCIAL INSTITUTIONS (G-SIFIS)
RECOMMENDATION I.12: INTERNATIONAL INVESTMENT POSITION (IIP)
RECOMMENDATION I.13: FINANCIAL AND NON-FINANCIAL CORPORATIONS’ CROSS BORDER EXPOSURES
RECOMMENDATION I.14: FINANCIAL AND NON-FINANCIAL CORPORATIONS’ CROSS BORDER EXPOSURES
RECOMMENDATION I.15: SECTORAL ACCOUNTS
RECOMMENDATION I.16: DISTRIBUTIONAL INFORMATION
RECOMMENDATION I.17: GOVERNMENT FINANCE STATISTICS (GFS)
RECOMMENDATION I.18: PUBLIC SECTOR DEBT
RECOMMENDATION I.19: REAL ESTATE PRICES
RECOMMENDATION I.20: PRINCIPAL GLOBAL INDICATORS
Recommendation I.1: Mandate of the DGI
Staffs of FSB and the IMF report back to G20 Finance Ministers and Central Bank Governors by June 2010 on progress, with a concrete plan of action, including a timetable, to address each of the outstanding recommendations. Thereafter, staffs of FSB and IMF to provide updates on progress once a year. Financial stability experts, statisticians, and supervisors should work together to ensure that the program is successfully implemented.
Monitoring Risk in the Financial Sector
Recommendation I.2: Financial Soundness Indicators (FSI)
The IMF to work on increasing the number of countries disseminating Financial Soundness Indicators (FSIs), including expanding country coverage to encompass all G20 members, and on other improvements to the FSI website, including preferably quarterly reporting. FSI list to be reviewed.
Recommendation I.3: Tail Risk
In consultation with national authorities, and drawing on the Financial Soundness Indicators Compilation Guide, the IMF to investigate, develop, and encourage implementation of standard measures that can provide information on tail risks, concentrations, variations in distributions, and the volatility of indicators over time.
Recommendation I.4: Aggregate Leverage and Maturity Mismatches
Further investigation of the measures of system-wide macroprudential risk to be undertaken by the international community. As a first step, the BIS and the IMF should complete their work on developing measures of aggregate leverage and maturity mismatches in the financial system, drawing on inputs from the Committee on the Global Financial System (CGFS) and the Basel Committee on Banking Supervision (BCBS).
Recommendation I.5: Credit Default Swaps (CDS)
The CGFS and the BIS to undertake further work in close cooperation with central banks and regulators on the coverage of statistics on the credit default swap markets for the purpose of improving understanding of risk transfers within this market.
Recommendation I.6: Structured Products
Securities market regulators working through IOSCO to further investigate the disclosure requirements for complex structured products, including public disclosure requirements for financial reporting purposes, and make recommendations for additional improvements if necessary, taking account of work by supervisors and other relevant bodies.
Recommendation I.7: Securities Statistics
Central banks and, where relevant, statistical offices, particularly those of the G20 economies, to participate in the BIS data collection on securities and contribute to the further development of the BIS-ECB-IMF Handbook on Securities Statistics (Handbook). The Working Group on Securities Databases to develop and implement a communications strategy for the Handbook.
Documents
BIS-ECB-IMF Handbook on Securities Statistics (HSS) (publication)
Working Group on Securities Databases on the Handbook on Securities Statistics (HSS) (communication)
International Network Connections
Recommendation I.8: Data for Global Systemically Important Financial Institutions (G-SIFIs)
The FSB to investigate the possibility of improved collection and sharing of information on linkages between individual financial institutions, including through supervisory college arrangements and the information exchange being considered for crisis management planning. This work must take due account of the important confidentiality and legal issues that are raised, and existing information sharing arrangements among supervisors.
Recommendation I.9: Data for Global Systemically Important Financial Institutions (G-SIFIs)
The FSB, in close consultation with the IMF, to convene relevant central banks, national supervisors, and other international financial institutions, to develop by end 2010 a common draft template for systemically important global financial institutions for the purpose of better understanding the exposures of these institutions to different financial sectors and national markets. This work should be undertaken in concert with related work on the systemic importance of financial institutions. Widespread consultation would be needed, and due account taken of confidentiality rules, before any reporting framework can be implemented.
Recommendation I.10: Coordinated Portfolio Investment Survey (CPIS) and International Banking Statistics (IBS) Participation & Enhancement
All G20 economies are encouraged to participate in the IMF’s Coordinated Portfolio Investment Survey (CPIS) and in the BIS’s International Banking Statistics (IBS). The IMF and the BIS are encouraged to continue their work to improve the coverage of significant financial centers in the CPIS and IBS, respectively.
Recommendation I.11: Coordinated Portfolio Investment Survey (CPIS) and International Banking Statistics (IBS) Participation & Enhancement
The BIS and the CGFS to consider, amongst other improvements, the separate identification of nonbank financial institutions in the consolidated banking data, as well as information required to track funding patterns in the international financial system. The IMF, in consultation with the IMF’s Committee on Balance of Payments Statistics, to strive to enhance the frequency and timeliness of the CPIS data, and consider other possible enhancements, such as the institutional sector of the foreign debtor.
Recommendation I.12: International Investment Position (IIP)
The IMF to continue to work with countries to increase the number of International Investment Position (IIP) reporting countries, as well as the quarterly reporting of IIP data. The Balance of Payments and International Investment Position Manual, sixth edition (BPM6) enhancements to the IIP should be adopted by G20 economies as soon as feasible.
Recommendation I.13: Financial and Non-financial corporations’ cross border exposures
The Interagency Group on Economic and Financial Statistics (IAG) to investigate the issue of monitoring and measuring cross-border, including foreign exchange derivative, exposures of nonfinancial, and financial, corporations with the intention of promoting reporting guidance and the dissemination of data.
Recommendation I.14: Financial and Non-financial corporations’ cross border exposures
The IAG consulting with the FSB to revisit the recommendation of the G-22 to examine the feasibility of developing a standardized template covering the international exposures of large nonbank financial institutions, drawing on the experience with the BIS’s IBS data, other existing and prospective data sources, and consulting with relevant stakeholders.
Sectoral and Other Financial and Economic Datasets
Recommendation I.15: Sectoral Accounts
The IAG, which includes all agencies represented in the Inter-Secretariat Working Group on National Accounts, to develop a strategy to promote the compilation and dissemination of the balance sheet approach (BSA), flow of funds, and sectoral data more generally, starting with the G20 economies. Data on nonbank financial institutions should be a particular priority. The experience of the ECB and Eurostat within Europe and the OECD should be drawn upon. In the medium term, including more sectoral balance sheet data in the data categories of the Special Data Dissemination Standard could be considered.
Documents
Recommendation I.16: Distributional Information
As the recommended improvements to data sources and categories are implemented, statistical experts to seek to compile distributional information (such as ranges and quartile information) alongside aggregate figures, wherever this is relevant. The IAG is encouraged to promote production and dissemination of these data in a frequent and timely manner. The OECD is encouraged to continue in its efforts to link national accounts data with distributional information.
Recommendation I.17: Government Finance Statistics (GFS)
The IMF to promote timely and cross-country standardized and comparable government finance data based on the accepted international standard, the Government Finance Statistics Manual 2001.
Recommendation I.18: Public Sector Debt
The World Bank, in coordination with the IMF, and consulting with the Inter-Agency Task Force on Finance Statistics, to launch the public sector debt database in 2010.
Recommendation I.19: Real Estate Prices
The Inter-Secretariat Working Group on Price Statistics to complete the planned handbook on real estate price indices. The BIS and member central banks to investigate dissemination on the BIS website of publicly available data on real estate prices. The IAG to consider including real estate prices (residential and commercial) in the Principal Global Indicators (PGI) website.
Documents
Note on the Progress in Recommendation 19
Communication of Official Statistics
Recommendation I.20: Principal Global Indicators
The G20 economies to support enhancement of the Principal Global Indicators website, and close the gaps in the availability of their national data. The IAG should consider making longer runs of historical data available.