Bank of Russia amends methodology for reporting escrow accounts in monetary and financial statistics

To improve the estimate of households' investments in various types of financial assets, the Bank of Russia has amended the methodology for reporting funds in escrow accounts in monetary statistics and statistics on borrowings, and in financial accounts and financial balance sheets of the System of National Accounts of the Russian Federation (SNA).

The Credit Institutions Survey and Banking System Survey will exclude funds in escrow accounts from the 'Deposits excluded from broad money' indicator, instead, they will be reflected as a separate item in the 'Other liabilities' indicator.

Financial accounts and financial balance sheets of the SNA will report funds in escrow accounts for the 'Households' sector as a separate item in 'Accounts receivable', and will exclude them from the 'Currency and deposits' indicator.

The statistics on borrowings, which is generated in compliance with reporting Form 0409302 'Information on borrowings', will exclude funds in escrow accounts from the 'Deposits and other funds of individuals' indicator and include them, after some preparation, in the separate 'Funds in escrow accounts' indicator. Thus, the escrow account balances will remain as a part of the 'Customer funds' indicator. Tables containing the 'Deposits and other funds of individuals' indicator, which includes funds in escrow accounts, will be moved to the retrospective section.

These amendments to the statistics and methodological commentary will be reflected in the related publications when they are issued.

The reference to the Press Service is mandatory if you intend to use this material.

29.01.2021 18.30.00