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Central Bank of the Republic of China

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Central bank survey (Methodology)

The Republic of China
Central bank survey

Summary of Methodology

Contact person Financial Statistics Section
Economic Research Department, Central Bank of the Republic of China (Taiwan)
 
    Phone: 886-2-23571741
Fax: 886-2-23571760
E-mail: efsd@mail.cbc.gov.tw
  1. Analytical Framework, Concepts, Definitions and Classifications

    The items on the balance sheet, based on the IFS format, are classified by sector to separate claims on and liabilities to various sectors. Under this principle, the CBC's assets are divided into "foreign assets," "loans & advances to government," "securities bought through open market operations," "claims on financial institutions," "cash in vaults," and "other assets." Its liabilities are divided into "foreign liabilities," "currency issued," "government deposits," "deposits of financial institutions," "securities issued by the CBC," "equity," and "other liabilities." Based on the CBC's accounting records, the data on domestic claims on the public sector and on the private sector, and the gross foreign position are obtained. Domestic claims on the public sector include loans & advances to the government, holdings of securities of government enterprises, and holdings of securities of government agencies and government enterprises bought through open market operations. Domestic claims on the private sector include holdings of securities of private enterprises bought through open market operations, the amount of which is negligible, and claims on financial institutions. In addition, reserve money is equal to the sum of currency issued and reserve deposits with the CBC minus the CBC's cash in vaults. Adjusted annual growth rates of reserve money, calculated based on the latest required reserve ratios, are also released.
     
  2. Scope of the Data

    All of the data are derived from the CBC's accounting records.
     
  3. Accounting Convention

    The CBC's accounting records keep daily data, from which the averages of daily figures, such as the daily average of reserve money, are derived. All foreign currency items are converted to national currency equivalents based on the exchange rates at 10:00 a.m. on the balance sheet date.
     
  4. Nature of Basic Data

    The CBC's accounting records are kept by its transaction-related departments. Its accounting department then combines the records and produces the consolidated data of the CBC.
     
  5. Compilation Practices

    The CBC provides time series data and detailed components of the balance sheet of the CBC.
     
  6. Other Aspects

    The annual growth rates of reserve money, based on the latest required reserve ratios, are calculated and disseminated. Therefore, when the CBC adjusts the required reserve ratios on deposits, the time series are recalculated.

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