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ADMINISTRATIVE INFORMATION
  Title FVC - Financial Vehicle Corporation Statistics
  Data source NCBs and ECB
  Contact email address Statistical Information request form
 
LEGAL AND INSTITUTIONAL ENVIRONMENT
  Institutional mandate The framework for the collection of FVC statistics is laid down in the ECB Regulation concerning statistics on the assets and liabilities of financial vehicle corporations engaged in securitisation transactions (ECB/2013/40). This Regulation is complemented by Guideline ECB/2014/15. They are available for downloading here.
  Legal acts and other agreements Regulation ECB/2013/40 concerning statistics on the assets and liabilities of financial vehicle corporations engaged in securitisation transactions (recast)

Guideline ECB/2014/15 on monetary and financial statistics (recast)
 
SCOPE
  Data presentation - Summary description FVC statistics refer to the aggregated balance sheet of the financial vehicle corporation (FVC) sector resident in the euro area.
  Data presentation - Detailed description Aggregated results are compiled for the following four vehicle sub-categories:
(i) FVCs engaged in traditional securitisation;
(ii) FVCs engaged in synthetic securitisation;
(iii) FVCs engaged in insurance-linked securitisation; and
(iv) other FVCs. For more information, see here.
  Statistical population FVCs resident in the territory of a euro area Member State  form the reference reporting population.

NCBs are entitled to exempt FVCs from statistical reporting requirements that would cause unreasonably high costs compared to their statistical benefit, see Annex I of Regulation ECB/2013/40.
  Reference area coverage Euro area
  Sector coverage Financial vehicle corporations belonging to the sub-sector “Other financial intermediaries, except insurance corporations and pension funds", subsector (S.125) in the ESA 2010.
  Time coverage First reporting of quarterly data on the fourth quarter of 2014. Historical data is provided from the fourth quarter of 2009.
 
METHODOLOGICAL INFORMATION
  Source data type FVCs submit to the NCBs the data that the NCBs require in accordance with Guideline ECB/2014/15 on monetary, financial institutions and markets statistics. These in turn report national aggregates to the ECB.
  Time period Quarterly
  Time period - collection End of the period
  Frequency of data collection Quarterly
 
STATISTICAL PROCESSING
  Data compilation Data are aggregated across the FVC sector in each Member State by NCBs to derive national contributions to the euro area aggregated balance sheet of the FVC sector.

No consolidation. Inter-FVC positions are shown on the balance sheet.

All growth rate computations refer to an index of notional stocks, rather than to the stock data directly. This allows to present developments in the series free of the effects that non-transactions would have on the growth rate of stocks. The index of notional stocks is computed as a chain index I(t) = I(t-1)*[1+F(t)/S(t-1)], where F(t) are transactions during the period and S(t-1) are stocks at the end of the previous period. The index is computed in a way similar to that used in monetary financial institutions (MFI) statistics, on which more information is available in the Technical Notes to the Euro area statistics section of the ECB Statistical Bulletin.
  Adjustment Not adjusted
  Data validation Validation is based on the verification of balance sheet constraints, and on checks on the plausibility of developments at various levels of aggregation.
  Data revision - policy The revisions policy and procedures set by the ECB and the relevant NCB must be followed.
 
QUALITY
  Quality management Quality is ensured by means of a comprehensive legal framework included in the Guideline ECB/2014/15 on monetary and financial statistics (recast).
  Accuracy Minimum standards for accuracy:
(a) the statistical information must be correct: all linear constraints must be fulfilled (e.g. assets and liabilities must balance, subtotals must add up to totals);
(b) reporting agents must be able to provide information on the developments implied by the transmitted data;
(c) the statistical information must be complete and must not contain continuous and structural gaps; existing gaps should be acknowledged, explained to the relevant NCB and, where applicable, bridged as soon as possible;
(d) reporting agents must follow the dimensions, rounding policy and decimals set by the relevant NCB for the technical transmission of the data.
  Timeliness Quarterly data are reported by close of business on the 28th working day following the end of the quarter to which the data relate.
 
DISSEMINATION
  Release policy Publication on the 35rd working day after the end of the reference quarter
  Release policy - release calendar See the release calendar for financial vehicle corporations statistics in the euro area on the ECB’s website (https://www.ecb.europa.eu/press/calendars/statscal/mfm/html/stpfvc.en.html).
  Dissemination format Statistical Data Warehouse (SDW) and ECB website (https://www.ecb.europa.eu/stats/financial_corporations/financial_vehicle_corporations/html/index.en.html)
  Dissemination format - news release Press Release on the ECB website (https://www.ecb.europa.eu/press/pr/stats/fvc/html/index.en.html)
 
MISCELLANEOUS
  Metadata last update 19/NOV/2018 13:55:48

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