I. Bangladesh
GDDS - DQAF ViewDepository corporations survey
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II. H.Header data
III. 0. Prerequisites
A. 0.2 Resources
0.2.1 Staff, facilities, computing resources, and financing (Encouraged)
[Staff, facilities, computing resources, and financing for statistical programs currently available as well as what would be required for programmed statistical outputs.]
IV. 2. Methodology
A. 2.1 Concepts and definitions
2.1.1 Concepts and definitions (Required)
[Degree to which the overall structure of concepts and definitions follows internationally accepted standards, guidelines, or good practices.]
The statistics on the consolidated balance sheet of deposit money corporations (the central bank and other deposit corporations) are compiled by Bangladesh’s Bank Statistics Department in the Monetary Survey. The classification and methodology used in compiling the Monetary Survey are consistent with those recommended in the IMF’s "Monetary and Financial Statistics Manual". The analytical framework is the monetary survey, which present broad money and its counterparts comprising net domestic assets and net foreign assets. Net foreign assets are presented as the net positions of Bangladesh Bank and other depository corporations. Net domestic assets are classified by sector and include claims on central government (net), claims on other public sector, and claims on the private sector.Monthly data are first disseminated on the Bangladesh Bank’s website in the monthly "Economic Trends" which is also published in had copy. More detailed unconsolidated monthly data on the accounts of Bangladesh Bank and deposit money banks are published in the quarterly "Bangladesh Bank Bulletin".
Monetary aggregates: Broad money (M2) is defined as narrow money (M1), which is the sum of currency outside banks and demand deposits plus time deposits accepted by other deposit corporations. Interbank deposits and Government deposits are excluded from monetary measures. Broad Money (M3) is defined as M2 plus deposit liabilities of nonbank depository corporations plus national savings scheme deposits.
B. 2.2 Scope
2.2.1 Scope (Required)
2.2.1.1 Scope of the data
[Scope of the data.]
The monetary survey consolidates the positions of the monetary authorities , the deposit money banks, including industrial and agricultural development banks plus nonbank depository corporations. The monetary authority’s accounts are the accounts of Bangladesh Bank plus notes and coins issued by the government. The accounts of Bangladesh Bank include the head office and all Bangladesh Bank’s branches. International reserves in the monetary authorities account include only reserve holdings of Bangladesh Bank.There are 56 licensed (scheduled) banks. Of the 56 licensed banks, four are government owned. The remaining 50 banks are subdivided into 9 foreign-owned banks, five government owned specialized banks, 31 privately-owned commercial banks, and six Islamic banks. The non-bank depository corporations (NBDs) comprise 26 finance and leasing companies, 4 microcredit institutions, 71 central cooperative banks, 48 land mortgage banks, the national savings scheme (including postal savings scheme). The other co-operative societies/banks under the registrar of co-operatives and Bangladesh Rural Development Board do not report to the Bangladesh Bank. The commercial banks and specialized banks are called scheduled banks because they are licensed under the Banking Companies Act; scheduled banks are under the supervision of Bangladesh Bank.
The monthly data are presented as stock data in crores of taka (1 crore = 10 million).
2.2.1.2 Exceptions to coverage
[Exceptions to coverage.]
The other cooperative societies/banks under the registrar of cooperatives and Bangladesh Rural Development Board do not report to the Bangladesh Bank and are not included in the survey. 32 off-shore banking units are not covered here because of foreign exchange policy constraints DO YOU MEAN BECAUSE OF FORGIN EXCHANGE REGULATIONS?2.2.1.3 Unrecorded activity
[Unrecorded activity.]
C. 2.3 Classification/sectorization
2.3.1 Classification/sectorization (Required as relevant to data category)
[Broad consistency of classification/sectorization systems used with internationally accepted standards, guidelines, or good practices.]
The classification of domestic sectors is consistent with the guidelines of the 2008 "System of National Accounts". Foreign positions are distinguished from domestic positions on the basis of residence following the definitions of the sixth edition of the IMF "Balance of Payments Manual".The major aggregates are:
· Monetary aggregates M1 (narrow money), M2 (broad money) and M3 (Broad Money). M1 includes currency in circulation and demand deposits held by at the central bank and deposit money banks, M2 includes M1 plus time deposits held by at deposit money banks. M3 consists of currency outside depository corporations, demand and time deposits with deposit corporations, and national savings scheme deposits. Interbank deposits and government deposits are excluded from monetary measures in both cases.
· Domestic credit disaggregated by credit to central government (net), which is the liability to of the central government, credit to the rest of the public sector, and credit to the private sector. Sectoral breakdowns are consistent with the sectoral boundaries of the 2008 "System of National Accounts";
· Net foreign assets of Bangladesh Bank and other depository corporations. Foreign assets are distinguished from domestic assets in accordance with the residency criterion defined in the sixth edition of the IMF "Balance of Payments Manual".
D. 2.4 Basis for recording
2.4.1 Valuation (Required as relevant to data category)
[Types of prices (market, historical, administrative, basic, purchasers’, producer, etc.) used to value flows and stocks.]
Valuation standards: National currency denominated position are valued at historic cost.Valuation of foreign currency-denominated positions: Foreign currency-denominated assets and liabilities of deposit money banks are revalued on a monthly basis at the mid-value market exchange rates. Similarly, foreign currency denominated assets and liabilities of Bangladesh Bank are revalued on a daily basis at the weighted average market exchange rate.
2.4.2 Recording basis (Required as relevant to data category)
[Degree to which recording meets requirements for accrual accounting.]
The monetary survey is recorded on an accrual basis.2.4.3 Grossing/netting procedures (Encouraged)
[Broad consistency of grossing/netting procedures with internationally accepted standards, guidelines, or good practices.]
The grossing and netting of the components of the deposit corporations survey conform to the internationally accepted standards set out by the IMF’S MFSM. Positions are recorded on a gross basis except for foreign assets and credit to government ,which are recorded on a net basis.V. 3. Accuracy and reliability
A. 3.1 Source data
3.1.1 Source data collection programs (Required)
[Comprehensiveness of source data from administrative and survey data collection programs, and appropriateness of the collection modality for country-specific conditions.]
Monetary survey data are based entirely on administrative records--i.e., the accounts of Bangladesh Bank and other depository corporations. No surveys are used in compiling monetary survey data. Bangladesh Bank accounts are produced by the Accounts and Budgeting Department, Forex Reserve and Treasury Management Department and the Department of Currency Management and Payment Systems on a monthly basis. Complete accounts are generally available about four weeks after the end of the reference month.Other depository corporations report their monthly assets and liabilities to Bangladesh Bank on a detailed report form called a sectorized balance sheet (SBS-1returns for commercial banks and NBDC returns for non bank depository institutions). Banks transform their basic accounting data to the classification of the SBS based on instructions provided by Bangladesh Bank. All bank branches (about 6,654 in number) report their monthly positions to their head offices within 15 days of the end of the reference month. Head offices of the reporting banks must consolidate all their returns and enter the consolidated information into the RIT and upload it through Bangladesh Bank’s web portal by the 25th of each month following the month of reference. Banks also provide detailed classification of deposits and of advances (loans) on a quarterly basis. Reporting banks are required to certify to Bangladesh Bank that their monthly returns include reports from all branches.
3.1.2 Source data definitions, scope, sectorization, classifications, valuation, and time of recording (Encouraged)
[Degree to which source data approximate definitions, scope, sectorization, classifications, valuation, and time of recording required (as described in 2.1.1-2.4.3).]
The purpose of the SBS returns is to provide a reporting format that conforms to the statistical requirements of the MFSM.3.1.3 Source data timeliness (Encouraged)
[Source data timeliness relative to what is required for producing statistical outputs whose timeliness meets applicable data standard (SDDS requirements or GDDS recommendations).]
Head offices must report their consolidated position to Bangladesh Bank 25 days after the end of the reference month.B. 3.2 Assessment of source data
3.2.1 Source data assessment (Encouraged)
[Routine assessment of source data—including censuses, sample surveys, and administrative records (e.g., for coverage, sample error, response error, and nonsampling error); whether assessment results are monitored; how results are used to guide statistical processes.]
Detailed review of incoming bank reports are examined for anomalies and discrepancies. Questionable data are reviewed with the reporting bank.C. 3.3 Statistical techniques
3.3.1 Source data statistical techniques (Required as relevant to data category)
[Statistical techniques in data compilation to deal with data sources (e.g., to align them with target concepts from 2.1.1).]
The DCS data are compiled on the basis of accounting records and do not require the use of any specific techniques.3.3.2 Other statistical procedures (Required as relevant to data category)
[Statistical techniques employed in other statistical procedures (e.g., data adjustments and transformations, and statistical analysis).]
The DCS data are compiled on the basis of accounting records and do not require the use of any specific techniques or procedures.D. 3.4 Data validation
3.4.1 Validation of intermediate results (Encouraged)
[Assessment and investigation of statistical discrepancies in intermediate data.]
3.4.2 Assessment of intermediate data (Encouraged)
[Assessment and investigation of statistical discrepancies in intermediate data.]
Data verification: The primary system of data verification is a detailed review of incoming bank reports for anomalies and discrepancies. Questionable data are reviewed with the reporting bank.3.4.3 Assessment of discrepancies and other problems in statistical outputs (Encouraged)
[Investigation of statistical discrepancies and other potential indicators of problems in statistical outputs.]
A detailed review of incoming bank reports for anomalies and discrepancies is conducted. Questionable data are reviewed with the reporting bank.E. 3.5 Revision studies
3.5.1 Revision studies and analyses (Encouraged)
[Periodicity with which studies and analyses of revisions and/or updates are carried out; whether and how they are used internally to inform statistical processes (see also 4.3.3).]
Monetary survey data are rarely revised. However, if significant errors in banks' monthly reports are discovered, the data for the concerned month are revised and the publication indicates the revision.VI. 4. Serviceability
A. 4.1 Periodicity and timeliness
4.1.1 Periodicity (Required)
[Periodicity of statistical outputs relative to applicable dissemination standard (SDDS requirement or GDDS recommendation).]
Monthly4.1.2 Timeliness (Required)
[Timeliness of statistical outputs relative to applicable dissemination standard (SDDS requirement or GDDS recommendation).]
Data are compiled within five weeks and disseminated within six to seven weeks after the end of the reference month.B. 4.2 Consistency
4.2.1 Internal consistency (Required as relevant to data category)
[Consistency of statistics within the dataset.]
The data of the monetary survey are internally consistent. Components add up to totals and assets are equal to liabilities.Detailed data are of banks' deposits and advances are presented in the quarterly "Scheduled Banks Statistics", which permits cross-checking of data.
4.2.2 Temporal consistency (Encouraged)
[Consistency or reconcilability of statistics over a reasonable period of time.]
The data of the monetary survey are consistent over time. Trends, and deviation from trends canb e explained by the underlying economic and financial developments.4.2.3 Intersectoral and cross-domain consistency (Encouraged)
[Consistency or reconcilability of statistics with those obtained through other data sources and/or statistical frameworks.]
Monetary survey data are consistent with the data of other statistical systems, such as balance of payments statistics, the internal investment position, and government finance statistics. This is true by construction since the monetary constitute a source component for the other statistics or because it shares the same source data as those statistics.- Transactions in net foreign assets in monetary statistics are largely consistent with the corresponding measure derivable from balance of payments statistics.
- Government finance statistics on government deposits with tdeposit corporations and government borrowing deposit corporations are largely consistent with the comparable data in monetary statistics.
C. 4.3 Revision
4.3.1 Revision and/or update schedule (Required)
[Transparency and regularity of revision/update schedule.]
Monetary survey data are rarely revised.4.3.2 Identification of preliminary and/or revised/updated data (Required)
[Identification of preliminary and/or revised/updated data.]
In the rare instances they are revised, the revisions are indicated in the publication at the time they are first published.4.3.3 Dissemination of revision studies and analyses (Encouraged)
[Dissemination of revision studies and analyses (see also 3.5.1).]
There are no revision studies as the DCS data are rarely revised.VII. 5. Accessibility
A. 5.1 Data
5.1.1 Statistical presentation (Required)
[Statistics are presented in a way that facilitates proper interpretation and meaningful comparisons (layout and clarity of text, tables, and charts).]
Data related to the monetay survey are presented monthly in the statistical tables of Bangladesh Bank’s publication “Economic Trend” in Table IIA “Monetary Survey (M2)” and Table IIE “Monetary Survey (M3). The tables clearly identify the counterpart components of these two monetary aggregates and their counterparts. Specifically the tables show:· Money (M2 or M3)
In Table IID:
· Net foreign assets of Bangladesh Bank and deposit corporations
· Domestic credit of Bangladesh Bank and deposit corporations (and nonbank deposit corporations in the case of M3)
o To government (net)
o To other public sector
o To the private sector and
o Other assets (net)
The data are in crores (10 millions) of Taka at the endof the month.
Monetary and credit developments are also commented and illustrated in graphs in “Economic Trends”. The publication “Monthly economic indicators” and the quarterly publication “Economic and Financial Developments” also comment on immediate monetary developments as well as developments in recent years These developments are illustrated in the form of bar or line charts showing, among other things, the sources of reserve money and broad money in recent years. Related credit and financial developments are also commented in the text and illustrated by charts.
5.1.2 Dissemination media and format (Required)