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ADMINISTRATIVE INFORMATION
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Title |
FVC - Financial Vehicle Corporation Statistics |
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Data source |
National Central Banks (NCBs) and ECB |
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Contact email address |
Statistical Information Request form |
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Contact organisation |
European Central Bank |
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TECHNICAL INFORMATION
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Dataset last update in SDW |
2023-05-24 10:00:00 |
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Catalog |
Download the series catalogue of the dataset FVC in CSV format, i.e. full list of series and associated metadata: Excel 2013 (zipped) or the earlier Excel versions. |
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LEGAL AND INSTITUTIONAL ENVIRONMENT
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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/2021/12. They are available for downloading here. |
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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/2021/12 on financial intermediaries other than monetary financial institutions |
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Confidentiality |
The protection of confidentiality when collecting statistical information is of paramount importance to the ECB and the ESCB. Article 8 of Council Regulation (EC) No 2533/98, as amended by Council Regulation (EC) No 951/2009 of 9 October 2009 and Council Regulation (EU) 2015/373 of 5 March 2015. A consolidated version is also available on EUR-Lex.europa.eu (html). A yearly report is prepared on the compliance by all ESCB members during the previous period. |
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SCOPE
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Data presentation - Summary description |
FVC statistics refer to the aggregated balance sheet of the financial vehicle corporation (FVC) sector resident in the euro area. |
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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. |
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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. For more information on a comprehensive list of FVCs, see here. |
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Reference area coverage |
Euro area |
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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. |
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Time coverage |
First reporting of quarterly data on the fourth quarter of 2014. Historical data is provided from the fourth quarter of 2009. |
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METHODOLOGICAL INFORMATION
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Source data type |
FVCs submit to the NCBs the data that the NCBs require in accordance with Guideline ECB/2021/12 on financial intermediaries other than monetary financial institutions. These in turn report national aggregates to the ECB. |
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Data collection method |
The framework for the collection of financial vehicle corporations statistics is laid down in Regulation ECB/2013/40. The Regulation is complemented by Guideline ECB/2021/12, which sets out the procedures to be followed by NCBs when reporting the data to the ECB. |
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Time period |
Quarterly |
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Time period - collection |
End of the period |
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Frequency of data collection |
Quarterly |
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Statistical concepts and definitions |
For information about the naming convention (series key dimensions and metadata), refer to the FVC underlying DSD (ECB_FVC1) maintained by the ECB. |
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STATISTICAL PROCESSING
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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. |
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Adjustment |
Neither seasonally nor working day adjusted |
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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. |
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Data revision - policy |
The revisions policy and procedures set by the ECB and the relevant NCB must be followed. |
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QUALITY
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Quality management |
Quality is ensured by means of a comprehensive legal framework included in the Guideline ECB/2021/12 on financial intermediaries other than monetary financial institutions. |
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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. |
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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. |
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DISSEMINATION
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Release policy |
Publication on the 34th working day after the end of the reference quarter |
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Release policy - release calendar |
See the release calendar for financial vehicle corporations statistics in the euro area on the ECB’s website. |
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Dissemination format |
Statistical Data Warehouse (SDW) and ECB website |
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Dissemination format - news release |
Press Release on the ECB website |
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MISCELLANEOUS
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Metadata last update |
26/APR/2023 11:28:57 |
