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Recording financial derivatives in the UK National Accounts
Explains the process and analyses the data collected so far on Financial Derivatives positions held by securities dealers.
This article explains the process and analyses the data collected so far on Financial Derivatives positions held by securities dealers. It follows on from work started at the Bank of England in 1998 on UK banks' gross positions in derivatives.
Work on the collection of financial derivatives positions data began when the UK National Accounts followed the European System of Accounts changes in 1998. The new standards bring financial derivatives within the financial asset boundary, placing them alongside deposits and loans etc. However, implementation in full of the new requirements in respect of financial derivatives is an outstanding issue. The article explains the difficulties in data collection and describes what future work will be undertaken.
Data on derivatives positions will be published as separate tables in the Blue Book and Pink Book this year for the first time. These tables will remain until the data are fully incorporated into the National Accounts.
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