03 February 2016

FSC Mauritius launches IMF Monetary and Financial Statistics Survey

In light of the preparation of Mauritius’ adherence to International Monetary Fund (IMF) Special Data Dissemination Standard (SDDS) Plus (which is the third and highest tier of the IMF’s data standards initiatives), one of the requirements is to collect Monetary and Financial Statistics (MFS) from Other Financial Corporations (OFCs). The latter are all under the purview of the Financial Services Commission (FSC) Mauritius.

An IMF mission visited Mauritius from 19 March to 01 April 2014 and made recommendations to expand the coverage of monetary statistics. Accordingly, FSC Mauritius and the Bank of Mauritius have set up a Joint Working Group (JWG) to look at what data are readily available. The JWG started working on a Mapping Exercise which aimed to look at what data are reported by the licensees in their Audited Financial Statements (AFS) and Statutory Returns and map them with the MFS requirements. This has been completed.

The FSC Mauritius will be conducting the First Phase of the IMF MFS Survey soon. The purpose is to cover all financial and non-financial assets, and liabilities of all institutional sectors within an economy, with a particular focus on the financial corporations (FCs) sector. The entities include the following: [First Phase]: Long Term and General Insurer, Private Pension Scheme under administration of PSA & Long Term Insurer; Private Pension Scheme administered by a Governing Body; Pension Scheme Administrator Own Account; CIS Managers (Own Account); CIS and Closed-end Funds; [and Second Phase] Category 1 Global Business Companies under the management / administration of Management Companies.

Monetary statistics cover the stock positions and flows of the assets and liabilities of the resident FC sector with respect to all other resident institutional sectors and non residents.

Financial statistics (or flow-of-funds statistics) extend the range of monetary statistics to include stock positions and flows of the assets and liabilities between all sectors of the economy and between the sectors of the economy and non-residents. The financial statistics are organised and presented in formats designed to show financial flows among the sectors of an economy and corresponding financial asset and liability stock positions.

The monetary and financial statistics provide a framework for analysing the relationship between the FCs sector and other institutional sectors, including through broad money, credit aggregates, and liquidity measures.

You may wish to refer to the Financial Services Commission Website (http://www.fscmauritius.org - click on Media & Publications followed by Statistics & Surveys - then, select ‘Surveys’) to have more information on MFS and to download the Survey Forms & Guidance Notes.

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