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Dataset Level Metadata

GFS - Government Finance Statistics



ADMINISTRATIVE INFORMATION
	Title	GFS - Government Finance Statistics
	Data source	ECB Government finance
	Contact email address	Statistical Information Request form

TECHNICAL INFORMATION
	Dataset last update in SDW	2021-09-20 16:00:00
	Catalog	Download the series catalogue of the dataset GFS in CSV format, i.e. full list of series and associated metadata: Excel 2013 (zipped) or the earlier Excel versions.

LEGAL AND INSTITUTIONAL ENVIRONMENT
	Institutional mandate	European System of Accounts 2010 (ESA 2010).
	Legal acts and other agreements	In accordance with the ESA 2010, Regulation (EC) 220/2014 amending Regulation 479/2009 for government debt. ECB Guideline on government finance statistics (ECB/2014/21) for annual GFS, ESA 2010 for quarterly GFS.

SCOPE
	Data presentation - Summary description	Government finance statistics (GFS) provide a comprehensive overview of fiscal developments in the euro area, the European Union, and individual EU Member States. GFS data presented in the ECB Statistical Data Warehouse (SDW) are organized within eight sub-categories: 1. revenue 2. expenditure 3. deficit/surplus and consumption 4. EU budget transactions 5. government debt 6. change in debt 7. financial accounts 8. Government assistance to the financial sector More details related to GFS data can be accessed on the government finance website (link).
	Data presentation - Detailed description	Government finance statistics (GFS) provide a comprehensive overview of fiscal developments in the euro area, the European Union, and individual EU Member States. Annual GFS data are based on the data transmitted at least twice a year to the European Central Bank (ECB) by the national central banks (NCBs). Quarterly GFS are based on the data transmitted by Eurostat and are defined by reference to the European System of Accounts 2010. Monthly government debt securities indicators are compiled from the security-by-security information collected in the ESCB’s Centralised Securities Database (CSDB). This information allows the compilation of the outstanding amounts, issuances, redemptions, average residual maturity, annual growth rates, schedules of maturing debt, and other indicators. Government assistance to the financial sector is also referred to as financial assistance measures (FAM), this dataset is part of the GFS. These data are highly requested by economists to analyse the economic impact (actual and potential) of such public policy interventions, and by policymakers to attune fiscal policy instruments. Further information and analysis on FAM data can be found in the Statistics Paper Series. GFS data presented in the ECB Statistical Data Warehouse (SDW) are organized within eight sub-categories: 1. revenue 2. expenditure 3. deficit/surplus and consumption 4. EU budget transactions 5. government debt 6. change in debt 7. financial accounts 8. Government assistance to the financial sector More details related to GFS data can be accessed on the government finance website (link). More details on monthly “Debt securities issuance and service by EU governments” can be accessed (link).
	Reference area coverage	Individual EU Member States, the euro area and the EU aggregates, US and Japan.
	Sector coverage	General government sector (S13) and the sub-sectors: central government (S1311), state government (S1312), local government (S1313) and social security funds (S1314).

METHODOLOGICAL INFORMATION
	Source data type	ESCB for annual GFS; European Commission (Eurostat) for quarterly GFS; ECB for monthly government debt securities indicators; OECD for US and Japan GFS.
	Time period	Mainly from 1995 for annual GFS; from 1999Q1 for quarterly GFS; and from Dec-2009 for monthly GFS.
	Statistical concepts and definitions	For information about the naming convention (series key dimensions and metadata), refer to the GFS underlying DSD (NA_SEC) maintained by the ESTAT.
	Statistical unit	National currency and EUR.
	Valuation	Accrual. Market prices for non-financial and financial transactions and financial positions; face value for government debt and change in government debt. Mainly consolidated. Intergovernmental lending within the context of the financial crisis is consolidated in government debt and change in debt data for the euro area and the EU aggregates.
	Adjustment	Not adjusted; calendar and seasonally adjusted.

MISCELLANEOUS
	Metadata last update	03/DEC/2019 14:52:54

QSA - ESA2010 quarterly financial and non-financial sector accounts



ADMINISTRATIVE INFORMATION
	Title	QSA - Quarterly Sector Accounts (MUFA and NFA Eurostat ESA2010 TP, table 801)
	Data source	ECB and Eurostat
	Contact email address	Statistical Information Request form

TECHNICAL INFORMATION
	Dataset last update in SDW	2021-10-07 16:30:00
	Catalog	Download the series catalogue of the dataset QSA in CSV format, i.e. full list of series and associated metadata: Excel 2013 (zipped) or the earlier Excel versions.

LEGAL AND INSTITUTIONAL ENVIRONMENT
	Institutional mandate	GUIDELINE (EU) 2014/3 OF THE EUROPEAN CENTRAL BANK of 25 July 2013 (ECB/2013/24) Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union

SCOPE
	Data presentation - Summary description	Quarterly financial and non-financial sector accounts
	Data presentation - Detailed description	The European sector accounts provide a comprehensive and comparable overview of the European economy as a whole. They record all “transactions” between economic agents grouped by “sector”. Stocks of assets and liabilities are recorded in balance sheets. The system forms a sequence of interlinked accounts. The institutional sectors bring together economic agents with broadly similar behaviour: non-financial corporations (code S11), financial corporations (S12), general government (S13), households and non-profit institutions serving households (S14 + S15). Moreover, an additional sector detail of MFIs (S12K), OFIs (S12P) and insurance corporations and pension funds (S12Q) is provided for financial transactions and stocks. Transactions and financial claims between economic agents resident in the euro area/EU28 and economic agents resident elsewhere are recorded in the “rest of the world” (W1.S1) accounts. The sector accounts thus show the interactions among the different sectors of the European economy, and between them and the rest of the world. Transactions are classified according to their economic nature (e.g.: payment and receipt of wages or taxes, consumption, assumption of a loan, etc.). For each transaction in the current accounts (and for capital transfers) “resources” and “uses” are recorded. For instance, the resources side of the transaction category “interest” records the amounts of interest receivable by the different sectors of the economy. The uses side shows interest payable. For each type of transaction, total resources of all sectors and the rest of the world equal total uses. For the transactions in the capital accounts (other than capital transfers) and the financial accounts, the distinction is between “changes in liabilities” and “changes in assets”. Transactions are grouped into a sequence of accounts covering a specific aspect of the economic process, ranging from production, generation and (re)distribution of income through consumption and investment to borrowing and lending. Each account leads to a balancing item, which is calculated as total resources minus total uses or total changes in financial assets minus total changes in liabilities. Balance sheets record for each domestic sector the (non-financial and financial) assets and liabilities valued at market prices on the date to which the balance sheet relates. The external financial assets and liabilities account shows the financial position of the euro area vis-à-vis the rest of the world and vice versa. The financial balance sheets group similar types of financial instrument into financial asset and liability categories, such as holdings of deposits, loans and shares. The changes in financial balance sheets can be divided into changes arising from financial transactions and other changes. The financial transactions cover net acquisitions of financial assets and net incurrence of liabilities, while the other changes mainly reflect revaluations due to changes in the market prices of financial instruments. For more information refer to ESA2010 manual and ESA2010 Transmission Program (Table 801).
	Sector coverage	Detailed sector breakdown of financial accounts for the financial sector (MFIs, OFIs, money market funds, investment funds, insurance corporations, pension funds, financial auxiliaries and captive financial institutions).

METHODOLOGICAL INFORMATION
	Source data type	Quarterly national financial and non-financial accounts. Other data sources cover MFI statistics, balance of payments statistics, general government statistics.
	Time period	Quarterly
	Statistical concepts and definitions	For information about the naming convention (series key dimensions and metadata), refer to the QSA underlying DSD (NA_SEC) maintained by the ESTAT.
	Accounting conventions	Timing of observations: Accrual Types of prices: Current prices
	Valuation	Market prices

STATISTICAL PROCESSING
	Data compilation	Non-financial accounts are generally non-consolidated except the general government sector. Also financial accounts are not consolidated.
	Quality documentation	Euro area and national quarterly financial accounts - 2019 Quality Report

DISSEMINATION
	Dissemination format	Data are disseminated to ECB Statistical Data Warehouse on the internet. At the same time, quarterly updates are published in a Statistical press release. In addition, the data are presented in the ECB Economic Bulletin, ECB Statistics Bulletin, Euro area accounts report and Household Sector Report.
	Documentation on methodology	See ECB website, Eurostat website for metadata for Non-financial transactions and Quarterly financial flows and stocks.

MISCELLANEOUS
	Metadata last update	18/AUG/2020 19:05:59

Series Level