DOCSLIB.ORG

The Mongolian Economy and Financial Markets

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
The Mongolian Economy and Financial Markets The Mongolian Economy and Financial Markets Chart Pack 2021 - 1st quarter Bank of Mongolia Research and Statistics Department The Mongolian Economy and Financial Markets Contents Graphs 1 World Economy 2 Mongolian Economic Growth 3 Mongolian Inflation 4 Household Sector 5 Business Sector 6 Credit and Money 7 Labor Market 8 Regions and Industries 9 Government 10 Commodity Prices 11 Interest Rates 12 Stock Markets 13 Bonds 14 Exchange Rates 15 Offical Foreign Exchange Reserves 16 Banking Indicators 17 Foreign Trade and Commodity Prices 18 Balance of Payments 19 International Investment Position 20 Foreign Direct Investment 21 Foreign Portfolio Investment 22 External Debt BANK OF MONGOLIA 1.World Economy GDP growth-World (%, YoY) GDP growth-China (%, YoY) 18 World 18 Major trading partners (China, Russia) 15 15 15 15 12 12 9 9 10 10 6 6 5 5 3 3 0 0 0 0 3 3 6 6 5 5 9 9 2004Q1 2008Q2 2012Q3 2016Q4 2021Q1 2004Q1 2008Q2 2012Q3 2016Q4 2021Q1 GDP growth-Advanced economies (%, YoY) GDP growth-Developing economies (%, YoY) USA Advanced economies 5.0 Euro area 5.0 Developing economies Japan 10 Developing Asian economies 10 2.5 2.5 8 8 0.0 0.0 6 6 2.5 2.5 4 4 5.0 5.0 2 2 7.5 7.5 0 0 10.0 10.0 2 2 12.5 12.5 4 4 15.0 15.0 2004Q1 2008Q2 2012Q3 2016Q4 2021Q1 Y2000 Y2005 Y2010 Y2015 Y2021Q1 1.World Economy Inflation-Advanced economies (%, YoY) Inflation-China, Russia (%, YoY) USA Russia 5 Japan 5 China Euro area 15.0 15.0 4 4 12.5 12.5 3 3 10.0 10.0 2 2 7.5 7.5 1 1 5.0 5.0 0 0 2.5 2.5 1 1 0.0 0.0 2 2 2004Q1 2008Q2 2012Q3 2016Q4 2021Q1 2004Q1 2008Q2 2012Q3 2016Q4 2021Q1 Unemployment rate (%) Wage growth (%, YoY) USA USA Euro area Japan Japan 15 15 12 12 10 10 10 10 8 8 5 5 6 6 0 0 4 4 5 5 2 2 2004Q1 2008Q2 2012Q3 2016Q4 2021Q1 2004Q1 2008Q2 2012Q3 2016Q4 2021Q1 1.World Economy - China Fixed asset investment Manufacturing PMI (index) Industrial production (%, share of GDP) (%, share of total capital expenditure) Retail price growth (%, real, annual) 36 36 58 30 32 32 56 24 28 54 28 18 24 52 24 12 20 50 20 6 16 48 16 0 46 12 6 12 44 8 12 8 42 4 18 4 2005Q1 2009Q1 2013Q1 2017Q1 2021Q1 Y2000 Y2005 Y2010 Y2015 Y2021Q1 Y2000 Y2005 Y2010 Y2015 Y2021Q1 2012Q1 2014Q2 2016Q3 2018Q4 2021Q1 Total social financing (%, share of GDP) Finance (%, share of GDP) Production (index) Production (index) Total social financing Budget balance Electricity Cement 18 Unprocessed iron Plate glass 225 260 195 15 240 210 180 12 220 195 165 9 200 180 6 180 150 165 3 160 135 150 0 140 120 3 120 135 105 100 6 120 2004Q1 2008Q2 2012Q3 2016Q4 2021Q1 2004Q1 2008Q2 2012Q3 2016Q4 2021Q1 2008Q1 2011Q2 2014Q3 2017Q4 2021Q1 2008Q1 2011Q2 2014Q3 2017Q4 2021Q1 2. Mongolian economic growth GDP growth (%) Contributions to GDP growth (%) 20 20 50 50 15 15 40 40 10 10 30 30 5 5 20 20 0 0 10 10 5 5 0 0 YoY, cumulative quarter from beginning of the year 10 10 YoY, by quarter 10 10 2004Q1 2008Q2 2012Q3 2016Q4 2021Q1 GDP Consumption Government Investment Export Import expenditure Mining GDP growth (%) Non-mining GDP growth (%) 60 60 YoY, cumulative quarter from beginning of the year YoY, cumulative quarter from beginning of the year YoY, by quarter 25 YoY, by quarter 25 40 40 20 20 15 15 20 20 10 10 5 5 0 0 0 0 20 20 5 5 2004Q1 2008Q2 2012Q3 2016Q4 2021Q1 2004Q1 2008Q2 2012Q3 2016Q4 2021Q1 3. Mongolian Inflation Inflation (%, estimated by CPI) Core inflation (%, YoY) Annually 35 Core inflation 35 Quarterly Inflation 30 30 30 30 25 25 20 20 20 20 15 15 10 10 10 10 0 0 5 5 0 0 2007Q1 2010Q3 2014Q1 2017Q3 2021Q1 2007M1 2010M7 2014M1 2017M7 2021M3 Import inflation (%) Non-import inflation (%) 35 35 Annually Annual 30 Quarterly 30 Quarterly 30 30 25 25 25 25 20 20 20 20 15 15 15 15 10 10 10 10 5 5 5 5 0 0 0 0 5 5 2007Q1 2010Q3 2014Q1 2017Q3 2021Q1 2007Q1 2010Q3 2014Q1 2017Q3 2021Q1 4. Household Sector Household consumption (%, real, YoY) Household debt (ratio, share of GDP) 60 Disposable income 60 Depository corporations outstanding loan/GDP Consumption 25 25 50 50 40 40 20 20 30 30 20 20 15 15 10 10 10 10 0 0 10 10 5 5 Y2000 Y2005 Y2010 Y2015 Y2021Q1 Y2000 Y2005 Y2010 Y2015 Y2021Q1 Housing price index Individual mortgage loan General index Mortgage loan outstanding (left, billion tugriks) 15 15 5,000 100 New house index Total number of borrowers (right, thousands of people) Old house index 10 10 4,000 80 5 5 3,000 60 0 0 2,000 5 5 40 10 10 1,000 20 15 15 0 2015M1 2016M7 2018M1 2019M7 2021M3 2008M1 2011M4 2014M7 2017M10 2021M3 5. Business Sector Business investment (%, share of GDP) Business investment components (%, share of GDP) Capital 72 72 60 Inventories 60 64 64 50 50 56 56 40 40 48 48 30 30 40 40 20 20 32 32 10 10 24 24 0 0 16 16 10 10 8 8 2005Q1 2009Q1 2013Q1 2017Q1 2021Q1 2005Q1 2009Q1 2013Q1 2017Q1 2021Q1 6. Credit and Money Broad money and credit growth (%, YoY) Total credit (%, share of GDP) Broad money, M2 100 Credit 100 55 55 80 80 50 50 60 60 45 45 40 40 20 20 40 40 0 0 35 35 20 20 30 30 40 40 2000M1 2005M4 2010M7 2015M10 2021M3 Y2005 Y2009 Y2013 Y2017 Y2021Q1 Monetary aggregates growth (%, YoY) Credit growth by sector (%, YoY) 100 100 Currency issued in circulation Private sector M1 Individuals M2 80 80 80 80 60 60 60 60 40 40 40 40 20 20 20 20 0 0 0 0 20 20 20 20 2000M1 2005M4 2010M7 2015M10 2021M3 2005M1 2009M1 2013M1 2017M1 2021M3 6. Credit and Money Credit growth by economic activities (%, YoY) Individual credit growth by sector (%, YoY) Mining Consumption loan 200 200 150 150 Manufacturing Mortgage Construction Trade 125 125 150 150 100 100 100 100 75 75 50 50 50 50 25 25 0 0 0 0 25 25 2004Q1 2008Q2 2012Q3 2016Q4 2021Q1 2009Q1 2012Q1 2015Q1 2018Q1 2021Q1 7. Labor Market Employment (thousands) Average nominal wage growth (%) Population aged 15 and over 70 Annual 70 2,200 Labor force 2,200 Quarterly Employees 60 60 2,000 2,000 50 50 1,800 1,800 40 40 1,600 1,600 30 30 1,400 1,400 20 20 1,200 1,200 10 10 1,000 1,000 0 0 2008Q1 2011Q2 2014Q3 2017Q4 2021Q1 2004Q1 2008Q1 2012Q1 2016Q1 2020Q4 Labor market (%) Employment and Participation rates (%) 13 13 Unemployment rate Labor force participation rate Employment-population ratio 64 64 12 12 62 62 11 11 60 60 10 10 58 58 9 9 56 56 8 8 54 54 52 52 7 7 50 50 6 6 2008Q1 2011Q2 2014Q3 2017Q4 2021Q1 2008Q1 2011Q2 2014Q3 2017Q4 2021Q1 8. Regions and Industries Regional employment (%) Regional employment (%) Western region 70 Central region 70 Khangai region Eastern region Ulaanbaatar 70 70 65 65 65 65 60 60 60 60 55 55 50 50 55 55 45 45 50 50 2010Q1 2012Q4 2015Q3 2018Q2 2021Q1 2010Q1 2012Q4 2015Q3 2018Q2 2021Q1 Employment by industry (thousands of people) Employment by industry (thousands of people) Agriculture Wholesale and retail trade Mining Transport Manufacturing 200 Public administration and defence 200 400 400 Construction Education 180 180 160 160 300 300 140 140 120 120 200 200 100 100 100 100 80 80 60 60 2010Q1 2012Q4 2015Q3 2018Q2 2021Q1 2010Q1 2012Q4 2015Q3 2018Q2 2021Q1 8. Regions and Industries Regional percent share of GDP Industry percent share of GDP 30 Agriculture 30 Mining Manufacturing 60 60 Wholesale and retail trade 25 Transport 25 Service 50 50 20 20 Western region 40 40 Khangai region Central region Eastern region 15 15 30 Ulaanbaatar 30 20 20 10 10 10 10 5 5 Y2000 Y2004 Y2008 Y2012 Y2019 Y2000 Y2005 Y2010 Y2015 Y2021Q1 9. Government Government budget balance (%, share of GDP) Government budget revenue (%, YoY) Government budget balance 3 3 150 150 0 0 100 100 3 3 6 6 50 50 9 9 0 0 12 12 15 15 50 50 Y2005 Y2009 Y2013 Y2017 Y2021Q1 2000M1 2005M4 2010M7 2015M10 2021M3 Government budget expenditure (%, YoY) Government debt (billion tugriks) 100 100 Total 25,000 Internal 25,000 External 80 80 20,000 20,000 60 60 15,000 15,000 40 40 10,000 10,000 20 20 0 0 5,000 5,000 20 20 0 0 2000M1 2005M4 2010M7 2015M10 2021M3 2015Q1 2016Q3 2018Q1 2019Q3 2021Q1 10. Commodity Prices Commodity price index (World Bank) Commodity price index (2003.12=100) 180 180 Energy 700 Gold 700 Precious metals Copper 160 Agriculture 160 Coal Metals & minerals 600 600 140 140 500 500 120 120 400 400 100 100 80 80 300 300 60 60 200 200 40 40 100 100 20 20 2000M1 2005M4 2010M7 2015M10 2021M3 2000M1 2005M4 2010M7 2015M10 2021M3 Export commodity prices ($/tonne, free on board basis) Terms of trade (2015.12=100) Copper 120 Coal (right) 110 110 2,000 100 80 105 105 1,500 60 100 100 1,000 40 95 95 500 20 2003M3 2007M9 2012M3 2016M9 2021M3 2019M1 2019M7 2020M1 2020M7 2021M3 11.
Load more

Recommended publications
  • Monetary Policy Rule and Taylor Principle in Mongolia: GMM and DSGE Approaches
    International Journal of Financial Studies Article Monetary Policy Rule and Taylor Principle in Mongolia: GMM and DSGE Approaches Hiroyuki Taguchi * and Ganbayar Gunbileg Graduate School of Humanities and Social Sciences, Saitama University, 225 Shimo-Okubo, Sakura-ku, Saitama 338-8570, Japan; [email protected] * Correspondence: [email protected]; Tel.: +81-48-858-3324 Received: 22 October 2020; Accepted: 11 November 2020; Published: 16 November 2020 Abstract: This article aims to examine the monetary policy rule under an inflation targeting in Mongolia with a focus on its conformity to the Taylor principle, through two kinds of approaches: a monetary policy reaction function by the generalized-method-of-moments (GMM) estimation and a New Keynesian dynamic stochastic general equilibrium (DSGE) model with a small open economy version by the Bayesian estimation. The main findings are summarized as follows. First, the GMM estimation identified an inflation-responsive rule fulfilling the Taylor principle in the recent phase of the Mongolian inflation targeting. Second, the DSGE-model estimation endorsed the GMM estimation by producing a consistent outcome on the Mongolian monetary policy rule. Third, the Mongolian rule was estimated to have a weaker response to inflation than the rules of the other emerging Asian adopters of an inflation targeting. Keywords: monetary policy rule; Taylor principle; Mongolia; inflation targeting; GMM; the New Keynesian DSGE model; E52; E58; O53 1. Introduction Mongolia has evolved her monetary policy framework, since she transformed the economic system from a centrally planned economy to a market-based economy in the early 1990s. In 1991, the Bank of Mongolia (BOM) started implementing monetary policy as a central bank.
    [Show full text]
  • International Directory of Deposit Insurers
    Federal Deposit Insurance Corporation International Directory of Deposit Insurers September 2015 A listing of addresses of deposit insurers, central banks and other entities involved in deposit insurance functions. Division of Insurance and Research Federal Deposit Insurance Corporation Washington, DC 20429 The FDIC wants to acknowledge the cooperation of all the countries listed, without which the directory’s compilation would not have been possible. Please direct any comments or corrections to: Donna Vogel Division of Insurance and Research, FDIC by phone +1 703 254 0937 or by e-mail [email protected] FDIC INTERNATIONAL DIRECTORY OF DEPOSIT INSURERS ■ SEPTEMBER 2015 2 Table of Contents AFGHANISTAN ......................................................................................................................................6 ALBANIA ...............................................................................................................................................6 ALGERIA ................................................................................................................................................6 ARGENTINA ..........................................................................................................................................6 ARMENIA ..............................................................................................................................................7 AUSTRALIA ............................................................................................................................................7
    [Show full text]
  • List of Certain Foreign Institutions Classified As Official for Purposes of Reporting on the Treasury International Capital (TIC) Forms
    NOT FOR PUBLICATION DEPARTMENT OF THE TREASURY JANUARY 2001 Revised Aug. 2002, May 2004, May 2005, May/July 2006, June 2007 List of Certain Foreign Institutions classified as Official for Purposes of Reporting on the Treasury International Capital (TIC) Forms The attached list of foreign institutions, which conform to the definition of foreign official institutions on the Treasury International Capital (TIC) Forms, supersedes all previous lists. The definition of foreign official institutions is: "FOREIGN OFFICIAL INSTITUTIONS (FOI) include the following: 1. Treasuries, including ministries of finance, or corresponding departments of national governments; central banks, including all departments thereof; stabilization funds, including official exchange control offices or other government exchange authorities; and diplomatic and consular establishments and other departments and agencies of national governments. 2. International and regional organizations. 3. Banks, corporations, or other agencies (including development banks and other institutions that are majority-owned by central governments) that are fiscal agents of national governments and perform activities similar to those of a treasury, central bank, stabilization fund, or exchange control authority." Although the attached list includes the major foreign official institutions which have come to the attention of the Federal Reserve Banks and the Department of the Treasury, it does not purport to be exhaustive. Whenever a question arises whether or not an institution should, in accordance with the instructions on the TIC forms, be classified as official, the Federal Reserve Bank with which you file reports should be consulted. It should be noted that the list does not in every case include all alternative names applying to the same institution.
    [Show full text]
  • Tax Relief Country: Italy Security: Intesa Sanpaolo S.P.A
    Important Notice The Depository Trust Company B #: 15497-21 Date: August 24, 2021 To: All Participants Category: Tax Relief, Distributions From: International Services Attention: Operations, Reorg & Dividend Managers, Partners & Cashiers Tax Relief Country: Italy Security: Intesa Sanpaolo S.p.A. CUSIPs: 46115HAU1 Subject: Record Date: 9/2/2021 Payable Date: 9/17/2021 CA Web Instruction Deadline: 9/16/2021 8:00 PM (E.T.) Participants can use DTC’s Corporate Actions Web (CA Web) service to certify all or a portion of their position entitled to the applicable withholding tax rate. Participants are urged to consult TaxInfo before certifying their instructions over CA Web. Important: Prior to certifying tax withholding instructions, participants are urged to read, understand and comply with the information in the Legal Conditions category found on TaxInfo over the CA Web. ***Please read this Important Notice fully to ensure that the self-certification document is sent to the agent by the indicated deadline*** Questions regarding this Important Notice may be directed to Acupay at +1 212-422-1222. Important Legal Information: The Depository Trust Company (“DTC”) does not represent or warrant the accuracy, adequacy, timeliness, completeness or fitness for any particular purpose of the information contained in this communication, which is based in part on information obtained from third parties and not independently verified by DTC and which is provided as is. The information contained in this communication is not intended to be a substitute for obtaining tax advice from an appropriate professional advisor. In providing this communication, DTC shall not be liable for (1) any loss resulting directly or indirectly from mistakes, errors, omissions, interruptions, delays or defects in such communication, unless caused directly by gross negligence or willful misconduct on the part of DTC, and (2) any special, consequential, exemplary, incidental or punitive damages.
    [Show full text]
  • Mongolia's Private Sector Led Renewable Energy Programme
    MONGOLIA’S PRIVATE SECTOR LED RENEWABLE ENERGY PROGRAMME WWW.NDC-CLUSTER.NET/GOOD-PRACTICES WWW.TRANSPARENCY-PARTNERSHIP.NET/GOOD-PRACTICE-DATABASE LAST UPDATED: ________ 11/2019 ACTION AREA: _________ Mitigation FOCUS AREA: __________ Financing COUNTRY: ____________ Mongolia SECTORS INVOLVED: ____________ Energy TIMEFRAME: __________ 2017 – 2027 CASE SUMMARY: _______ Mongolia has committed to supply 30% of the country’s energy through renewable energy by 2030 as part of its NDC targets. However, financial barriers such as high interest rates and prohibitively short tenors have limited renewable energy investments. As a result, renewable energy projects were more expensive to realise than coal-fired power plants. The development of a 10MW solar photovoltaic (PV) farm located in the Sumber Soum area of Mongolia has been jointly implemented by the XacBank and the Mongolian project developer ESB Solar Ener- gy, following the Green Climate Fund’s (GCF) approval in late 2017. GCF supported the solar power plant project through a long-term concessional loan, co-financed by domestic sources, including project developers. The project started feeding into Mongolia’s main electricity grid in the first quarter of 2019. The project is forecasted to generate 15,395 megawatt hours (MWh) of electricity each year and thus reduce greenhouse gas (GHG) emissions by 12,270 tonnes of carbon dioxide equivalent (tCO2eq) annually. Moreover, the solar plant comes with significant environmental and social co-benefits. It is projected to save 170,000,000 litres of water, which would otherwise have been required by a coal- fired generator. This project is a boon for the worsening air quality conditions of the Mongolian capi- tal Ulaanbaatar, which has been plagued with problems of air pollution for many years.
    [Show full text]
  • Participant List
    Participant List 10/20/2019 8:45:44 AM Category First Name Last Name Position Organization Nationality CSO Jillian Abballe UN Advocacy Officer and Anglican Communion United States Head of Office Ramil Abbasov Chariman of the Managing Spektr Socio-Economic Azerbaijan Board Researches and Development Public Union Babak Abbaszadeh President and Chief Toronto Centre for Global Canada Executive Officer Leadership in Financial Supervision Amr Abdallah Director, Gulf Programs Educaiton for Employment - United States EFE HAGAR ABDELRAHM African affairs & SDGs Unit Maat for Peace, Development Egypt AN Manager and Human Rights Abukar Abdi CEO Juba Foundation Kenya Nabil Abdo MENA Senior Policy Oxfam International Lebanon Advisor Mala Abdulaziz Executive director Swift Relief Foundation Nigeria Maryati Abdullah Director/National Publish What You Pay Indonesia Coordinator Indonesia Yussuf Abdullahi Regional Team Lead Pact Kenya Abdulahi Abdulraheem Executive Director Initiative for Sound Education Nigeria Relationship & Health Muttaqa Abdulra'uf Research Fellow International Trade Union Nigeria Confederation (ITUC) Kehinde Abdulsalam Interfaith Minister Strength in Diversity Nigeria Development Centre, Nigeria Kassim Abdulsalam Zonal Coordinator/Field Strength in Diversity Nigeria Executive Development Centre, Nigeria and Farmers Advocacy and Support Initiative in Nig Shahlo Abdunabizoda Director Jahon Tajikistan Shontaye Abegaz Executive Director International Insitute for Human United States Security Subhashini Abeysinghe Research Director Verite
    [Show full text]
  • Extended Annual Review Report Senior Loan Xacbank Supporting Micro, Small, and Medium-Sized Enterprises (Mongolia)
    Extended Annual Review Report Project Number: 47930-001 Investment Number: 7401 Loan Number: 3102 September 2017 Senior Loan XacBank Supporting Micro, Small, and Medium-Sized Enterprises (Mongolia) This is the abbreviated version of the document that excludes commercially sensitive and confidential business information that is subject to exceptions to disclosure set forth in ADB’s Public Communications Policy 2011. CURRENCY EQUIVALENTS Currency unit – togrog (MNT) At At Project Appraisal Review 31 October 2013 31 January 2017 MNT1.00 = $0.0006 $0.0004 $1.00 = MNT1,638 MNT2,479 ABBREVIATIONS ADB – Asian Development Bank MSMEs – micro, small, and medium-sized enterprises TFG TenGer Financial Group LLC XacBank – XacBank Limited Liability Company NOTES In this report, “$” refers to United States dollars. Vice-President D. Gupta, Private Sector and Cofinancing Operations Director General M. Barrow, Private Sector Operations Department (PSOD) Director C. Roberts, Portfolio Management Division, PSOD Team leader M. Gunawardhena, Investment Specialist, PSOD Team members I. Aguilar, Social Development Officer (Safeguards), PSOD P. Flegler, Senior Investment Specialist, PSOD J. Gomez, Safeguards Officer (Environment), PSOD M. Gregorio, Risk Management Officer, Office of Risk Management In preparing any country program or strategy, financing any project, or by making any designation of or reference to a particular territory or geographic area in this document, the Asian Development Bank does not intend to make any judgment as to the legal or other status of any territory or area. CONTENTS Page BASIC DATA i EXECUTIVE SUMMARY ii I. THE PROJECT 1 A. Project Background 1 B. Key Project Features 2 C. Progress Highlights 2 II. EVALUATION 3 A.
    [Show full text]
  • CAPITAL FLOWS and THEIR IMPLICATION for CENTRAL BANK POLICIES: the CASE of MONGOLIA by Gan-Ochir Doojav Doojav Ganochir@Y
    CAPITAL FLOWS AND THEIR IMPLICATION FOR CENTRAL BANK POLICIES: THE CASE OF MONGOLIA ♣♣ by Gan-Ochir Doojav ♣ [email protected] December 2008 1. General Framework and Major Capital Flows Management Policies 1.1 General Framework At the beginning of the transition to market economies, Mongolia had relatively closed capital accounts. In Mongolian case, economic liberalization, such as reduction of price controls, floating exchange rates, the privatization of state-owned enterprises and trade and capital liberalization processes, was implemented in 1990s. Most of the changes had occurred between 1990 and 1993. Also The Government of Mongolia has accepted the obligations of Article VIII, Sections 2, 3, and 4 of the IMF Articles of Agreement, with effect from February 1, 1996 1. The implementations of the current and capital account liberalization have had both negative and positive impacts in the economy. Mongolia was the first country in transition to join the World Trade Organization (WTO) in January 1997. The opening-up of Mongolian markets (foreign trade liberalization ) as well as the integration into the multilateral trading system under the WTO has created not only new opportunities and prospects for economic development of Mongolia but also limitations and restrictions for its domestic policies. Like other SEACEN countries, liberalization of financial market and capital account has resulted in large capital inflows in Mongolia. On the other hand, the inflows were motivated by good macroeconomic performance and strong demand of foreign investors in mining and financial sectors. The large capital inflows has financed a higher economic growth, although it has created pressures that lead to inflation, real appreciation of the exchange rate, and a reduction in the domestic interest rate in recent years.
    [Show full text]
  • Classification of Accounts Guide Last Updated – January 2018
    Classification of Accounts Guide Last updated – January 2018 Contents Part I: General introduction Part II: Residence Part III: Sector categories Part IV.1 – IV.2: Industrial classification Part IV.3: Relationship between sector and industrial classifications Part V.1: Sector components (ESA 10) and sub components Part V.2: List of countries 1 Part I Classification of Accounts Guide – General Introduction I.1 Foreword This guide is intended for all institutions completing a range of Bank of England statistical returns. It describes the two most important systems of classification used in compiling economic and financial statistics in the United Kingdom – the economic sector classification, and the industrial classification. This guide is intended to serve both as an introduction for newcomers and as a source of reference. The nomenclature in the sector classification is in line with international standards – in particular, the European System of National and Regional Accounts (abbreviated to ‘ESA10’). In addition, the analysis of industrial activity is in line with the 2007 standard industrial classification of economic activities (SIC) introduced by the Office for National Statistics. Those without knowledge of accounts classification are recommended to refer to the ‘Guide to Classification’ (Part I Section 3) which takes the reader through the main questions to be answered to help classify accounts correctly. The system of classification used in this guide is solely for statistical purposes. Parts II to IV of the guide describe the main aspects of the classification system in more detail, including lists of examples of institutions, or a web link reference, for many categories. I.2 An introduction to the classification of accounts Sector and industrial classification To understand the underlying behaviour which is reflected in movements in economic and financial statistics, it is necessary to group those entities engaged in financial transactions into broad sectors with similar characteristics.
    [Show full text]
  • International Directory of Deposit Insurers
    A listing of addresses of deposit insurers, central banks and other entities involved in deposit insurance functions. Division of Insurance and Research Federal Deposit Insurance Corporation Washington, DC 20429 The FDIC thanks the countries listed for their cooperation, without which the directory would not have been possible. Please direct any comments or corrections to: Donna Vogel Division of Insurance and Research, FDIC by phone +1 202 898 8703 or by e-mail [email protected] FDIC INTERNATIONAL DIRECTORY OF DEPOSIT INSURERS ■ OCTOBER 2018 Table of Contents AFGHANISTAN ......................................................................................................................................6 ALBANIA ...............................................................................................................................................6 ALGERIA ................................................................................................................................................6 ARGENTINA ..........................................................................................................................................6 ARMENIA ..............................................................................................................................................7 AUSTRALIA ............................................................................................................................................7 AUSTRIA ................................................................................................................................................7
    [Show full text]
  • The Bank of Mongolia the BANK of MONGOLIA
    THE BANK OF MONGOLIA THE BANK OF MONGOLIA ANNUAL REPORT 2020 FOREWORD BY THE GOVERNOR OF THE BANK OF MONGOLIA On behalf of the Bank of Mongolia, I extend my sincere greetings to all of you and am pleased to present the Bank of Mongolia's annual report. It was a year marked with facing unprecedented challenges economically and socially. The Mongolian economy contracted by 5.3 percent in 2020, the worst contraction in the past 20 years, driven by non-economic shock. Despite the COVID-19 pandemic affecting every country across all sectors and people's lives, we successfully overcame economic and financial challenges together. In this regard, highlighting 3 crucial courses of actions: First, the Bank of Mongolia is taking necessary measures following international experience and laws to reduce the negative impact on the economy and the financial sector, to alleviate the financial difficulties and pressures of citizens, businesses, and financial institutions during the COVID-19 pandemic. The monetary policy outlook was eased through countercyclical measures, and the policy rate was reduced from 11 percent to a historically low of 6 percent. These policy measures will have a direct impact on economic recovery and lower interest rates. Second, Mongolia was removed from the Financial Action Task Force (FATF)'s list of jurisdictions under increased monitoring in a short amount of time. The European Commission also decided to remove Mongolia from its list of high-risk third countries with strategic deficiencies in their regime on anti-money laundering and counter-terrorist financing. Third, the togrog's exchange rate has remained stable despite the pandemic.
    [Show full text]
  • ANNUAL REPORT 2013 2 the Development Bank of Mongolia - Annual Report 2013 the Development BANK of MONGOLIA
    THE DEVELOPMENT BANK OF MONGOLIA ANNUAL REPORT 2013 2 The Development Bank of Mongolia - Annual Report 2013 THE DEVELOPMENT BANK OF MONGOLIA TABLE OF CONTENTS MISSION VISION MESSAGE FROM THE CHAIRMAN OF THE BOARD OF Directors MESSAGE from THE CHIEF EXECUTIVE OFFICER economic OVERVIEW BANKING AND FINANCE sector overview INTERNATIONAL DEVELOPMENT BANKS THE INSTITUTION’S DEVELOPMENT CORPORATE GOVERNANCE BOARD OF Directors ORGanisation STRUCTURE CHRONOLOGY FINANCIAL INDICATORS BUSINESS OPERATION credit AND FINANCING OPERATIONS FUNDING OPERATIONS BUSINESS COOPERATION RISK MANAGEMENT INDEPENDENT AUDITOR’S REPORT The Development Bank of Mongolia - Annual Report 2013 3 To be a leading institution investigating financial solutions Mission which ensure and diversify sustainable economic development in multiple sectors, support manufacturing of value added products, and consolidate and implement the country’s development policies. 4 The Development Bank of Mongolia - Annual Report 2013 THE DEVELOPMENT BANK OF MONGOLIA To make Mongolia a developed country Vision ranking high in competitiveness and economic strength. The Development Bank of Mongolia - Annual Report 2013 5 MESSAGE FROM THE CHAIRMAN OF THE BOARD OF Directors By successfully raising low-cost funds from the international markets and by financing projects which accelerate the country’s development, the Development Bank of Mongolia has expanded its operations and succeeded in strengthening its position for future stability and success. This is a result of the efforts of the Bank’s employees, customers and cooperating entities. During the reporting period, the Bank financed MNT2,179.6 billion for major projects and programmes, and placed MNT652.3 billion with commercial banks. As a result, the Bank’s total assets reached MNT3,230.9 billion.
    [Show full text]