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Data Revisions of the Flow of Funds Accounts

June 18, 2014
Bank of Japan
Research and Statistics Department

The Bank of Japan has posted retroactively revised data on fiscal-year and quarter basis for the Flow of Funds Accounts (FFA) from the second quarter of 1998 in the "BOJ Time-Series Data Search."

The revision mainly intends to ensure consistency with the "rearranged data" based on BPM6 (the new statistical standard for balance of payment and international investment position statistics). The Ministry of Finance and the Bank of Japan started to release the balance of payments related statistics based on BPM6 on March 10, and simultaneously released the historical time series data consistent with the BPM6. The historical time series data are referred to as "rearranged data."

The revision also includes a new recording of the reconciliation between flows and stocks of insurance reserves and pension reserves in the life insurance sector. The revision also includes other updates of source data and methodological improvements.

The main points are as follows:

i) The rearranged data based on BPM6

The FFA reflects the rearranged data based on BPM6.

ii) New recording of the reconciliation between flows and stocks of insurance reserves and pension reserves in the life insurance sector

Previously, the FFA recorded flows of both transaction items as term-on-term difference of stock from the previous period, whereby the amount attributable to changes in market value and exchange rate in those reserves was recorded as flows.

The new method records the reconciliation between flows and stocks of insurance reserves and pension reserves in the life insurance sector. The figures are estimates from life insurers' separate accounts which typically fund variable insurance and annuity products.

Inquiries

Financial Statistics Group, Economic Statistics Division, Research and Statistics Department

E-mail : post.rsd5@boj.or.jp