Highlights of Enhanced Japan's Flow of Funds Accounts Based on 2008SNA

Financial Statistics Group, Economic Statistics Division, Research and Statistics Department
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Financial Statistics Group, Economic Statistics Division, Research and Statistics Department: Bank of Japan

No 16-E-3, Bank of Japan Review Series from Bank of Japan

Abstract: In light of an increased importance of statistics related to the nonbanking sector -- such as corporate pensions and investment trusts -- with the rapidly ageing of Japan's population and a trend shift "From Saving to Investment" promoted by the government and industries, the Bank of Japan has made substantial revisions to Japan fs Flow of Funds Accounts for the first time since 1999. Highlights of the revisions are: (1) regarding corporate pensions, defined benefit schemes and defined contribution schemes are recorded separately as independent sectors, and the discounted present value of future benefits based on the actuarial calculation of pensions is recorded as pension entitlements and (2) regarding investment trusts, distributions from the principal are recorded not as income but as outflows of funds from investment trusts. As a result, issues of the balance between assets and liabilities of pension funds and distribution amounts from the principal of investment trusts are brought to the fore, allowing to capture financial surplus and deficits of households and private nonfinancial corporations in a more accurate fashion. This makes it possible for Japan's Flow of Funds Accounts to produce a more accurate picture of financial activities than those furnished by other advanced countries.

Date: 2016-05-25
New Economics Papers: this item is included in nep-acc and nep-age
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