Enhancement and Expansion of Japan's Flow of Funds Accounts in Response to International Recommendations after the Financial Crisis
January 9, 2015
Research and Statistics Department
In response to the financial crisis in 2008, there are growing moves around the world to enhance statistics in order to identify the buildup of risks and financial and economic vulnerabilities that would not be captured through existing data. Accordingly, the Bank of Japan (BOJ) worked to enhance and expand Japan's Flow of Funds Accounts (J-FFA) and started to release three new data series (1."from-whom-to-whom" data of debt securities and loans, 2."Loans, Debt Securities, and Deposits by Maturity," and 3."Amounts Outstanding of Securitized Products") between 2011 and 2013. These data sets revealed recent notable trends such as: (1) an increase in cross-border transactions; (2) a shift of creditor from the public sector to the private sector; (3) differences in the maturity composition of fund investment and fund raising among economic entities; and (4) a downtrend in the amounts outstanding of securitized products.
Bank of Japan Review is published by the Bank of Japan to explain recent economic and financial topics for a wide range of readers. This report, 2015-E-1, is a translation of the original Japanese version, 2014-J-6, published in October 2014. The views expressed in the Review are those of the authors and do not necessarily represent those of the Bank of Japan.
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