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Notice to Readers<br />

MONETARY FINANCIAL INSTITUTIONS<br />

Notice to readers<br />

NOTICE TO READERS<br />

The supplement is divided into three sections:<br />

1. Monetary policy statistics;<br />

2. Banking system balance sheet items and other information;<br />

3. Banking interest rates.<br />

The Methodological appendix describes the content of the supplement.<br />

The complete time series are available on the Bank of Italy's website under Statistics/Statistical<br />

Database (BDS). In this database are also available additional tables, listed in the index of the<br />

Supplement. An extract of the information contained in the this publication will be released<br />

monthly, a few days beforehand, on the Bank of Italy's website under Statistics/Special Data<br />

Dissemination Standard (SDDS).<br />

Data on stocks comprise variations not arising from financial transactions, such as exchangerate<br />

variations, value adjustments, and reclassifications (for example, non-bank financial<br />

institutions reclassified as banks). This implies that the rates of growth of the aggregates should<br />

not be computed using only data on stocks. The rates of growth of the main aggregates adjusted to<br />

take account of statistical breaks and of all the other components not attributable to financial<br />

transactions are published in the press release "Main items of banks' balance sheets", in the<br />

figures of this Supplement, and on the Bank of Italy's website under Statistics/Statistical Database<br />

(BDS).<br />

The time series on the twelve month rate of change of bank loans are calculated including<br />

loans not stated in banks' balance sheets because securitized or otherwise sold, and excluding<br />

transactions concluded with central counterparties. The time series on the twelve month rate of<br />

change of total deposits is calculated excluding deposits related to securitizations and loan sales,<br />

and transactions concluded with central counterparties.<br />

The entry into force of the new Regulation ECB/2008/32 as of June 2010 and some changes to<br />

the supervisory reports have produced some breaks in the time series on loans, deposits, securities<br />

other than shares and capital and reserves. Series on total assets and total liabilities also show a<br />

statistical break in June 2010 as a consequence of these discontinuities. Interest rates have also<br />

been affected by some discontinuities due to the entry into force of Regulation ECB/2009/7 (see<br />

attachment).<br />

In January 2014 corporate actions carried out by some banking groups caused statistical breaks<br />

in the outstanding amounts of loans (especially to non-financial corporations and "other financial<br />

institutions"), bad debts (especially of non-financial corporations) and interbank deposits and<br />

loans. These operations explain most of the changes compared with the preceding months. Rates<br />

of growth are net of these changes.<br />

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