NOTES TO THE RELEASE
MONETARY AND FINANCIAL INDICATORS
 
This document contains statistics, in some cases no longer measured,
of interest for the historical and economic analysis of monetary and
financial aggregates. In some cases the figures refer to actual
observations, in others they have been reconstructed on the basis of
estimates. The nature of the information provided and the procedures
used are described in the notes to the individual tables. The data
presented may be modified or supplemented in the light of new
information that becomes available or for other reasons.
Since some of the series reach far back into the past, it is
recommended that readers consult the methodological notes to the
publication for information on the statistical and institutional
context and the presence of estimates.
 
 
 
NOTES TO THE TABLE TSCF0090:
The tables reconstruct the main items of Italy's financial accounts
from 1950 through 1994. The data are in billions of current lire. The
statistics are not on a consolidated basis; that is, they are gross of
transactions between units belonging to the same institutional sector,
like the data being published at present (See the financial accounts
supplement to the Statistical Bulletin). The information refers to
end-of-year stocks and may be revised in the future.
For a full description of the statistical sources drawn on, the
methodology used and the composition of the sectors and financial
instruments, see Bonci and Coletta, "I Conti finanziari dell'Italia
dal 1950 a oggi", paper given at the conference I conti finanziari:
la storia, i metodi, l'Italia, i confronti internazionali, held in
Perugia on 1-2 December 2005; available at www.bancaditalia.it under
economic publications (section "Atti di convegni").
This note is intended to furnish relevant information for reading the
tables.
In constructing the series from 1950 to 1962 a number of
statistical sources have been used: the balance sheets of the Bank of
Italy and the Italian Foreign Exchange Office (Ufficio Italiano
Cambi, UIC); Istat's Annuario Statistico Italiano and Sommario di
statistiche storiche (1926-1958); statistics published by the UIC;
various statistics from government departments; and F. Cotula
and M. Caron, "I conti finanziari dell'Italia. Dimensioni e struttura
della ricchezza e del risparmio finanziario dell'Economia", extract
from Banca d'Italia's Bollettino No. 6, 1971.
In reconstructing the financial accounts from 1963 to 1994, the
following sources have been used: Caron and Cotula (1971) for the data
from 1963 to 1970; the annual reports of the Bank of Italy for the
years from 1971 to 1988; the electronic database for the financial
accounts prepared to the standards of the European System of Accounts
(1979 version), for the years from 1989 to 1994. The last update of
this database is available on CD-ROM from the public statistical
database (Base Informativa Pubblica), September 2001. The data,
originally corresponding to heterogeneous standards of classification
for institutional sectors and financial instruments, have been
organized for greater continuity, resulting in time series which,
though not always reconstructed at market values or on an accrual
basis as the European System of Accounts 1995 calls for, do have a
classification of sectors and instruments similar to that in use
today.
The approach used in the reconstruction, therefore, makes it
possible to link the series given here with those published from 1995
on in the"Financial Accounts" Supplement to the Statistical Bulletin
(annual tables) of the online public statistical database.
For correct updating of the series, a synthetic concordance schema is
given below.
___________________Institutional sectors___________________________
_Financial accounts 1950-1994_______Financial accounts from 1995___
_______Households_______________________Households and non-profit__
____________________________________institutions serving households
_Non-financial corporations____________Non-financial corporations__
_Financial corporations_______Sum of: Monetary financial institutions
____________________________________Otherfinancial intermediaries,__
____________________________________Financial auxiliaries, Insurance
____________________________________corporations and pension funds__
_____General_government__________Sum_of: Central_government, Local__
_________________________________government, Social security funds__
__Rest of the world______________________Rest of the world__________
__Unallocated items_____________________________(-)_________________
The historical reconstruction also gives statistics for the banks
alone, although today they are no longer shown separately in the
Financial Accounts. ESA95 no longer provides for unallocated items,
so this sector is found only through 1994.
____________________Financial instruments___________________________
_Financial accounts 1950-1994_______Financial accounts from 1995____
_____Gold and SDR_______________________Monetary gold and SDRs______
_______Currency___________________Currency and transferable deposits,
_______Deposits_______________________________Other deposits_________
_______ Loans________________________Short-term and long-term loans
_________Bonds________________________Short-term and long-term bonds,
_______________________________________________Derivatives___________
________Shares__________________________Shares and other equity______
___Mutual fund shares______________________Mutual fund shares________
___Technical reserves__________________Insurance technical reserves__
Other accounts receivable/payable___Other accounts receivable/payable
____Trade credits_____________________________Trade credits_________
_Total financial instruments_____________Total financial instruments_
 
 
 
NOTES TO THE COLUMN:
NO NOTES TO COLUMNS OF THIS TABLE
 
 
 
NOTES TO THE CODES
NO NOTES TO THE CODES OF THIS TABLE
 
 
NOTES TO THE OBSERVATION
NO NOTES TO THE OBSERVATIONS OF THIS TABLE