Description of methods and sources for Albania - INSTAT
Description of methods and sources for Albania - INSTAT
Description of methods and sources for Albania - INSTAT
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IPA 2009 Multi-beneficiary StatisticalCooperation Programme3.3.3 Financial services (Banking <strong>and</strong> Insurance services)The main data <strong>sources</strong> <strong>for</strong> estimating the production, intermediate consumption <strong>and</strong>value added <strong>for</strong> banking services are the balance sheets provided by the Bank <strong>of</strong><strong>Albania</strong>, with which an agreement on exchange <strong>of</strong> data has been established. Thedata transmission includes: the centralized situation <strong>of</strong> the commercial banks <strong>and</strong> thebalance sheet <strong>of</strong> the Bank <strong>of</strong> <strong>Albania</strong> itself. Also, other data are used from FinancialSupervisory Authority, which receives annual financial statements <strong>for</strong> insurancemarket <strong>and</strong> its operators; securities market <strong>and</strong> its operators; private supplementarypensions market <strong>and</strong> its operators; other non-banking financial activities <strong>and</strong> passesthem in aggregated <strong>for</strong>m.3.3.3.1 Output <strong>of</strong> banking servicesIn the case <strong>of</strong> financial activities <strong>of</strong> banking services their output is equal to the sum<strong>of</strong> actual service charges <strong>and</strong> the value <strong>of</strong> financial intermediation services indirectlymeasured (FISIM). In <strong>for</strong>mal termsOutput <strong>of</strong> financial activities = FISIM + Actual services chargesThe service charges cover different kinds <strong>of</strong> revenues as commissions <strong>and</strong> fees. Thepaid commissions are considered as intermediate consumption expenditures.Financial intermediate services indirectly measure (FISIM) are estimated as servicecharge which is paid by the user <strong>of</strong> primary monetary services: deposits holdings aswell as credits (loan) lending services. FISIM is calculated as the difference betweenthe interests received <strong>and</strong> the interests paid. Yet, the estimations must be improvedlater on in accordance with the SNA’ 93 rules. The estimates <strong>of</strong> outputs includeincome <strong>of</strong> own capital. The data on own capital <strong>and</strong> its income are provided by the<strong>Albania</strong>n National Bank.According to the Commission Regulation 1889/2002, FISIM is not allocated yet byuser sectors <strong>and</strong> user industries. The regulation dem<strong>and</strong>s FISIM allocation <strong>for</strong>services <strong>of</strong> institutional sectors.So far, FISIM was not broken down by industries / institutional sectors but wasconsidered as intermediate consumption <strong>of</strong> a nominal sector with zero output <strong>and</strong>negative value added (equal but opposite as to intermediate consumption).3.3.3.2 Intermediate consumption <strong>of</strong> banking servicesIntermediate consumption covers the expenses <strong>for</strong> water, energy, small repairs,different other kinds <strong>of</strong> administrative expenses including travel <strong>and</strong> transport <strong>of</strong> theemployees50/236
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