Central banks increasingly need to use business intelligence (BI) systems to collect, manage and analyse data in order to inform policy decisions. This report presents the results of a survey conducted by the BIS’s Irving Fisher Committee on Central Bank Statistics (IFC) in 2019.
Information and internet technology has fostered new web-based services that affect every facet of today’s economic and financial activity. This creates enormous quantities of “big data” – defined as “the massive volume of data that is generated by the increasing use of digital tools and information systems” (FSB (2017)). Such data are produced in real time, in differing formats, and by a wide range of institutions and individuals. For their part, central banks face a surge in “financial big data sets”, reflecting the combination of new, rapidly developing electronic footprints as well as large and growing financial, administrative and commercial records.
The European Central Bank Statistics Paper Series (SPS) is a channel for statisticians, economists and other professionals to publish innovative work undertaken in the area of statistics and related methodologies that is of interest to central banks.
The SPS nr 28 titled " Disentangling euro area portfolios: new evidence on cross-border securities holdings” presents a detailed set of new, quantity-based indicators of financial integration in the euro area.
The indicators are based on granular data from securities holdings statistics and help us disentangle the main drivers of the portfolio changes observed since the financial crisis. Three key developments since the crisis stand out.
First, we find that financial integration in equity is less than that in the debt market, although the equity market was the main contributor to the partial recovery in financial integration observed since mid-2012.
Second, we observe a gradual shift in cross-border investment activity from the banking sector towards other non-bank financial entities. In particular, our results show that euro area banks significantly decreased their investment in debt securities issued by banks in other euro area countries and that this decrease explains around 55% of the decline in financial integration in the debt market observed since the crisis.
Finally, we find that the sharp decrease in financial integration between 2009 and 2012 was mainly driven by foreign investor flight from government debt securities, a trend that has since reversed.
Invitation to the 2018 Conference of European Statistics Stakeholders at the University of Bamberg in Bamberg, Germany from 18 to 19 October 2018
Are you a data user looking for an integrated picture of complex economic and social developments to prepare better decisions for the development of Europe? Are you a researcher interested in experimenting with new statistical methods to expand and improve our understanding of complex phenomena? Are you involved in the production of European statistics and interested in exploring innovative methods and ways of communication and dissemination? Are you a data analyst interested in further developing the use of micro-data, while still applying the rules of statistical confidentiality?
Then the 2018 Conference of European Statistics Stakeholders (CESS 2018) is the right place for you to present your work and to discuss the challenges that you face when using or producing statistics, and the ways in which you would like statistics to improve. The Conference will be organised according to three thematic blocks - Statistics, Science and Society.