Background

Mandate and collaboration

Under the Dutch Bank Act (Bankwet) we must perform a statistics function, i.e. collect statistical information and compile statistics. This task is based on the following regulations and legislation:

  • ECB regulations
  • Dutch Financial Supervision Act (Wet op het financieel toezicht – Wft)
  • Dutch External Financial Relations Act (Wet financiële betrekkingen buitenland – Wfbb)

Under the Pensions Act, DNB in its capacity as the supervisory authority also has a duty to provide the Minister responsible for pensions with any data and information necessary for implementing policy pertaining to pensions and for assessing the adequacy of pension legislation. DNB manages a data bank for this purpose, and draws up a Pensions Act Information and Management Plan.

The legal framework is revised on an ongoing basis, which allows us to improve the quality of our statistics and create new ones to identify current trends and provide policymakers with relevant figures. For instance, we develop statistics at European level on the operations of investment funds, securitisation vehicles and money market funds. We are also taking steps to generate more in-depth insights, for instance in the Securities Holdings Statistics (SHS), the European database on investors’ equity and bond holdings. These statistics are based on detailed data collected by all euro area central banks.

In collecting data and developing statistics, we actively collaborate with various partners, nationally as well as internationally.

Statistics Netherlands

We collaborate closely with Statistics Netherlands (CBS). In our collaboration, we seek to:
  • make our national statistics processes more efficient
  • increase the quality and consistency of our statistics
  • reduce the reporting burden on institutions

We have divided responsibilities between us in terms of collecting data from institutions and assume each other's obligations. The tasks are allocated such that we focus on monetary trends and the development of the financial sector. Statistics Netherlands uses the data on financial institutions we have collected to prepare the National Accounts. Conversely, in compiling statistics and performing other tasks we use data collected by Statistics Netherlands, including on inflation, mortgage debt and house prices.

ESCB

As a member of the European System of Central Banks (ESCB) and the Eurosystem, we collaborate with our European counterparts in the areas of monetary policy, payment systems and foreign exchange operations. This includes collecting data on financial and economic developments, using uniform definitions and categories. In this video, the ECB underlines the importance of reliable statistics for monetary policy. All collected data are centralised in the ECB's Statistical Data Warehouse. Euro area statistics presents a set of key financial and monetary data on the euro area countries. See here for additional information on euro area statistics

IMF

We are involved in IMF initiatives to improve the comparability of statistics on the financial sector, capital flows and financial interconnectedness. To this end, we publish a set of data tables. We also participate in IMF consultations on guidelines for compiling the balance of payments. The Netherlands meets the requirements of SDDS Plus, the upper tier of the IMF's data dissemination standards for countries with systemically important financial sectors.

OECD

We also deliver data to the OECD, particularly regarding inward direct investment and institutional investors. The data about institutional investors – pension funds, insurers and investment funds – are based on National Accounts figures on these sectors (see https://stats.oecd.org/ under National Accounts and Institutional Investors Statistics). The figures in the National Accounts are mutually aligned and processed, which is why the data deviate from our own statistics for these investors.

Methodology

We use several different sources when compiling statistics, depending on the type of data.

  • Our macroeconomic statistics are based mainly on macroeconomic reports submitted by financial and other institutions. We sometimes retrieve additional information from other sources. For the balance of payments current account, for instance, we use Statistics Netherlands data on trade in goods and services and secondary income flows.  
  • We derive our monetary statistics primarily from reports submitted by monetary financial institutions, compiling interest rate statistics on debit and credit interest rates and the Bank Lending Survey on actual and expected lending conditions on the basis of surveys among banks.
  • Our supervision statistics derive from various supervisory reports submitted by financial institutions, including CRD IV, FINREP, COREP and Solvency II.

For monetary and macro-economic statistics we usually request only part of the population to submit data, applying a grossing-up factor to correct for the non-surveyed part to ensure that the statistics are representative for the whole population. All reports are assessed for data quality.

Guidelines

Our macroeconomic statistics meet the applicable international guidelines:

The sector classification in our macro-economic and monetary tables concurs with ESA 2010:

  • non-financial corporations (S.11)
  • central bank (S.121)
  • deposit-taking corporations except the central bank (S.122)
  • money market funds (S.123)
  • investment funds (S.124)
  • other financial intermediaries (S.125)
  • financial auxiliaries (S.126)
  • captive financial institutions and money lenders (S.127)
  • insurance corporations (S.128)
  • pension funds (S.129)
  • general government (S.13)
  • households (S.14 and S.15)

Most tables concern the financial activities of monetary financial institutions (MFIs), i.e. central banks, credit institutions, deposit-taking corporations and money market funds.

The tables on the balance of payments sometimes include a breakdown for special financial institutions (SFIs). An SFI is a subsidiary established in the Netherlands performing a function in a foreign multinational's cross-border financial infrastructure. We introduced this concept to identify pass-through capital.

In the tables we publish, the non-financial sector (businesses, governments and households) appears only as "counterparty sector", for instance when banks provide credit to non-financial institutions.

Breaks in statistical series and calculations

We aim to adjust statistical series for breaks that occur in the event of, for instance, an amendment to the reporting framework or a reclassification, without compromising on quality. We have devised break-adjusted versions for key series.
In the event of rounding, published aggregates may differ slightly from the sum of the sub-items.
Average prices on an annual, quarterly and monthly basis are calculated using daily prices. Weekends and national holidays are not reflected in calculations.

For further explanation of the applied methodology click here.