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Kazakhstan SDDS Metadata Revaluation
Document Sample
Kazakhstan: SDDS Metadata
Revision date: March 2006
SDDS Data Category: Analytical accounts of the Depository
Organizations
Contact person: Ms. Irina Anatolyevna Moiseyeva
Title: Chief of Statistics Division, Research and Statistics Department
Address: National Bank of Kazakhstan 21 Koktem-3, Almaty,
Kazakhstan
Phone: 7 3272 704984
Fax: 7 3272 704930
Internet e-mail: imoiseeva@nationalbank.kz
The Data: Coverage, Periodicity, and Timeliness
Coverage characteristics The given data includes the analytical accounts of the
Depository Organizations, in millions of Tenge. Data
cover the consolidated balance sheet of the commercial
banks operating in Kazakhstan, balance sheet of the
NBK, including the National Fund’s assets managed by
NBK. For the period from December 2003 till
December, 2005 accounts of credit companies were
included. Since January 2006 accounts of Credit
companies are excluded from Depository
Organizations analytical accounts in connection with
modification in the legislation of Republic Kazakhstan
on questions of licensing and the consolidated
supervision. As a result powers of the government
body that is carrying out regulation and supervision of
the financial market and the financial organizations are
not distributed to credit companies.
The accounts of the banks, which are being in the
process of liquidation, are not covered by the
Depository Organizations analytical accounts.
The following data are provided:
(1) Monetary aggregates (the position at the end of the
month) are (a) currency in circulation M0, (b)
narrow money M1, (c) broad money M2, and (d)
money supply M3. M0 is defined as currency
outside Depository Organizations (notes and coins
in the national currency in circulation minus cash
holdings in NBK, commercial banks and credit
companies); M1 is defined as M0 plus transferable
deposits of nonbank legal entities and households
in national currency; broad money M2 equals M1
plus other deposits in national currency and
transferable deposits in foreign currency of
nonbank legal entities and households. Money
supply M3 includes M2 plus other
(nontransferable) deposits in foreign currency of
nonbank legal entities and households. Deposits of
local governments have been included in the
monetary aggregates since December 2001.
(2) Net claims to the Central government (until
December 2001 data included General Government
data only).
(3) Domestic credit to the rest of the economy,
including claims on financial sector (other than
banks and credit companies), private and public
nonfinancial enterprises, region and local
government (since December 2001),
noncommercial organizations serving households
and population.
(4) Net foreign assets of the Depository Organizations
with details on assets and liabilities. A foreign
position differs from domestic positions on the
basis of residency.
(5) Other net domestic assets - with breakdown by
other financial assets, nonfinancial assets, other
liabilities and capital accounts.
The National Bank values the financial assets by their
fair value, except for investments, held till repayment,
loans and account receivable, not intended for trade
and the financial assets non traded on market which
fair cost cannot be determined with a sufficient degree
of reliability.
Securities are accounted by fair volume or at the
amortized cost depending on used classification on
corresponding categories.
Revaluation and amortization of cost of securities is
made monthly on the last business day of the month
and on the sale and redemption day.
Since automated estimation of foreign currency
securities is implemented the revaluation is done daily.
The cost estimation of securities of a foreign market is
made according to the quotations (prices) established at
the moment of closing of the tenders in the financial
market, in the penultimate working day of calendar
month and/or day, previous to day sales of the
securities.
For carrying out of revaluation of cost of securities in
the national currency, released for the reference in
Kazakhstan, including coupon indexed bonds, the
official weekly quotations (price) established by the
Kazakhstan stock exchange are used.
At concurrence of day of carrying out of revaluation of
cost of securities to day of the next publication for a
basis the quotations (price) established for the previous
date are accepted by the Kazakhstan stock exchange of
weekly quotations (prices).
To the account of a foreign currency it is applied the
weighted average rate of foreign currency set on
morning session 11:00 Almaty time, of the Kazakh
Stock Exchange on the previous business day.
Revaluation of foreign currency on which at the
Kazakhstan stock exchange the tenders are not carried
out calculated using cross-rates set on 15:00 Almaty
time, at date of revaluation, according to the quotations
received on channels of news agency REUTERS.
Revaluation is made at each change of the average
exchange rate of tenge for foreign currencies and last
day month.
Securities purchased for capital investment are valued
on their purchase price. The value of these securities is
not overpriced during the holding period except for the
institutions with negative equity.
Commercial banks' securities are valued by three
categories:
1) securities for trade
2) securities available for sale
3) securities held till repayment
First two categories are assessed on fair value. These
kinds of securities in local and foreign currencies are
valued on fair value (price) by reappraisal as foreign
and local financial markets quotation (prices) set,
depending on the bank’s accounting policy.
The third category of both local and foreign securities
is valued with depreciable expenses by effective
interest rate. There is no revaluation on these securities.
Capital investments (subsidiaries and associated
companies) is valued in accordance with №27
International Financial Reporting Standard “Summary
Financial reporting and accounting of the investment in
subsidiaries ” and №28 “Accounting of the investment
in associated companies”.
Foreign currency accounts are daily converted into the
local currency basing on Tenge weight-average stock
exchange rate.
Periodicity Monthly
Timeliness To the 25th day following the reporting month
Access by the Public
Advance dissemination NBK disseminates calendar of statistic data issue in
of release calendar advance at the National Bank’s web-site in Internet.
Simultaneous release to Monetary statistics is available at the NBK's web-site
all interested parties in Internet for all interested parties and published in the
“Statistical Bulletin”.
Integrity
Provision f terms and The monetary policy is pursued under the Articles 8
conditions under which and 61 of the Law of the Republic of Kazakhstan on
official statistics are The National Bank (1995) and Article 54 of the Law
produced, including On Banks and Banking Activity, which provides the
confidentiality of following: “the banks must provide the National Bank
individual respondents with any requested information about their funds,
including those outside the Republic of Kazakhstan,
amount of deposits and loans, banking operations and
other information including the data making bank
secret”.
Under the Law of the Republic of Kazakhstan on the
National Bank of the Republic of Kazakhstan, Article
8, drawing up and regularly publishing the composite
balance sheet of banks of the Republic of Kazakhstan
and own balance sheet is one of the key functions of
the National Bank. Article 67 requires the NBK to
publish, amongst other things the annual report on
activity of NBK and annual consolidated financial
reporting.
The confidentiality of respondents’ data is established
by in Article 54 of the Law on Banks and Banking
activity in the Republic of Kazakhstan specifying that
«Employees of the National Bank of Kazakhstan shall
be prohibited from disclosing or relaying to third
parties information obtained in the course of exercising
right of data collection, established by points 2 and 2-1
articles, are liable in accordance with legal acts of
Republic of Kazakhstan».
Further, Article 383 of the Republic of Kazakhstan
Code of Legal Offenses (January 2001) provides for
pecuniary penalties for disclosure of individual
institutional data to third parties without prior approval
of this institutions units.
Copies of the Laws and other legislative acts regulating
money-credit statistics issues in Kazakhstan are posted
the at National Bank’s web site in Internet.
Identification of internal Users outside the NBK do not have access to the
government access to statistical data prior their official publication
data before release
Identification of No comments by state bodies are applied.
ministerial commentary
on the occasion of
statistical releases
Provision of information The banks do not provide revised historical data in case
about data revision and of reclassification of the accounts determined in the
advance notice of major current period. Monetary statistics data, which
changes in methodology published by the National Banks, are final, except for
the data as of the end of December that is based on the
preliminary figures. Any changes in the methodology
are provided in advance before they are made.
Quality
Dissemination of Short description on Monetary Survey methodology is
documentation on published in the Statistical Bulletin, which is available
methodology and sources both in Russian and Kazakh and disseminated at the
used in preparing of NBK 's web-site in Internet
statistics
Dissemination of Monetary statistics data are posted at the NBK's web-
methodological and site and published in the monthly Statistical Bulletin in
sources, supporting the following way: the annual data is showed for the
statistical cross-checks last five years; and the monthly data – for the current
and assurance of year.
reasonableness The data breakdown is following:
1) disaggregated data of the National and commercial
banks’ balance sheet;
2) customers’ deposits;
3) loans to the customers;
4) interest rates on deposits and loans;
5) Government securities and National Bank’s
securities (primary and secondary markets);
6) currency market;
7) financial System information;
8) information on cumulative pension system;
9) insurance market data;
10) payments system’s key indicators.
The consolidated balance sheet of NBK is published in
the annual report of the National Bank. The
data is given as of the end of the reporting year
and as of the end of the previous year. The
information break-down is as follows: assets
(monetary gold, claims to banks and other
financial organizations, investment securities
available for sale, fixed assets and other assets),
liabilities (money in circulation, liabilities to
banks and other financial organization, accounts
of Ministry of finance RK, funds, clients, debt
securities and other liabilities) and own capital.
The annual report is available on the web-site of the
National Bank where periodical data on the monetary
aggregates can also be found.
Dissemination formats:
Hardcopy
( ) News release
( ) Weekly (x) monthly bulletin ( ) quarterly bulletin
(x) Other
Electronic
(x) electronic notice board or database of country
( ) Diskette ( )CD-ROM ( ) Other
Dissemination format page
Monthly: Statistical Bulletin of NBK in Kazakh, Russian and English.
Other: Annual Report of the NBK in Kazakh, Russian and English
The information on NBK editions, price and subscribe is available from official
distributor “Business literature and education”.
Address: Almaty, 44, Dostyk Ave.
Phone: 7 3272 585-085
7 3272 503-533
Fax: 7 3272 585-087
Electronic:
www.nationalbank.kz
