Description of methods and sources for Albania - INSTAT

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IPA 2009 Multi-beneficiary StatisticalCooperation Programme3.3.3 Financial services (Banking and Insurance services)The main data sources for estimating the production, intermediate consumption andvalue added for banking services are the balance sheets provided by the Bank ofAlbania, with which an agreement on exchange of data has been established. Thedata transmission includes: the centralized situation of the commercial banks and thebalance sheet of the Bank of Albania itself. Also, other data are used from FinancialSupervisory Authority, which receives annual financial statements for insurancemarket and its operators; securities market and its operators; private supplementarypensions market and its operators; other non-banking financial activities and passesthem in aggregated form.3.3.3.1 Output of banking servicesIn the case of financial activities of banking services their output is equal to the sumof actual service charges and the value of financial intermediation services indirectlymeasured (FISIM). In formal termsOutput of financial activities = FISIM + Actual services chargesThe service charges cover different kinds of revenues as commissions and 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 of primary monetary services: deposits holdings aswell as credits (loan) lending services. FISIM is calculated as the difference betweenthe interests received and the interests paid. Yet, the estimations must be improvedlater on in accordance with the SNA’ 93 rules. The estimates of outputs includeincome of own capital. The data on own capital and its income are provided by theAlbanian National Bank.According to the Commission Regulation 1889/2002, FISIM is not allocated yet byuser sectors and user industries. The regulation demands FISIM allocation forservices of institutional sectors.So far, FISIM was not broken down by industries / institutional sectors but wasconsidered as intermediate consumption of a nominal sector with zero output andnegative value added (equal but opposite as to intermediate consumption).3.3.3.2 Intermediate consumption of banking servicesIntermediate consumption covers the expenses for water, energy, small repairs,different other kinds of administrative expenses including travel and transport of theemployees50/236
IPA 2009 Multi-beneficiary StatisticalCooperation Programme22Table 3.15: Output and intermediate consumption in data sources forbanking services, 2006____________________________________________________________________Components in data sources1. Bank services and commissions2. Other business and operating leasing services3. Financial services, netOutput in data sources (1 + 2 + 3)Plus: FISIMOutput in national accounts1. Costs of materials2. Services3. Bank servicesIntermediate consumption in data sources (1 + 2 + 3)3.3.3.3 Output of insurance servicesOutput of insurance activities covers both the direct insurance output plusreinsurance one. The output is calculated as difference between premiums receivedand claims paid. For the time being the estimates are made on a cash basis and not onan accrual one. Output of reinsurance activity is estimated by using data from thebalance of payments’ data.3.3.3.4 Intermediate consumption of insurance servicesIntermediate consumption for insurance activities is covering the same kind ofexpenses as explained above for banks and costs of insurance acquisitions as well,other expenditure on goods and services, other technical charges, other managementcosts, and reinsurance balance.23Table 3.16: Output and intermediate consumption in data sources forinsurance services, 2006____________________________________________________________________Components in data sourcesActual premiums payablePlus: premium supplementsLess: due claimsLess: increases in technical provisionsPlus: other insurance revenuesOutput in national accounts1. Materials and supplies2. Other technical charges3. Other administrative costs4. Reinsurance balanceIntermediate consumption in national accounts (1 + 2 + 3 + 4)51/236
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