Methodological notes on the extended indicator of debt of the non-financial sector and households
The Bank of Russia constructs the extended indicator of debt of the non-financial sector and households by economic sector, financial instrument and currency (rubles and foreign currency) and publishes it on a quarterly basis.
The extended indicator of debt comprises domestic and foreign borrowings of the non-financial organizations and households and non-profit institutions serving households (NPISHs).
Domestic borrowings of the non-financial sector and households comprise:
- non-financial organizations debt on bank loans and debt securities,
- households and non-profit institutions serving households (NPISHs) debt on bank lending; debt on housing mortgage loans sold by credit institutions to mortgage agents (including repayment), debt on consumer loans sold by credit institutions to specialized financial companies.
Foreign borrowings of the non-financial sector and households comprise:
- outstanding amounts on loans to non-residents less outstanding amounts on repos, as well as debt securities of non-financial organizations held in non-residents’ portfolio (including outstanding amounts on promissory notes).
- debt of the households and NPISHs comprise their outstanding amounts on loans to non-residents less outstanding amounts on repos.
The classification of sectors and instruments corresponds to the System of National Accounts, 2008 (2008 SNA) (European Commission, IMF, OECD, UN, World Bank, 2009)1.
Data for constructing the extended indicator of debt of the non-financial sector and households include information from monetary statistics, external sector statistics, securities statistics, credit institutions reporting by Form 0409711 ‘Securities and digital rights‘, according to Form 0420459 ‘Securities register ‘ and Form 0420415 ‘Report of professional securities market participants, clearing house and trade organiser under securities and digital rights, including PJSC repos Moscow Exchange’, form 0409316 ‘Information on Loans Granted to Individuals’ and professional securities market participants’, form 0420525 ‘Statement of a Mortgage Coverage Manager’ submitted by the management company of investment funds, unit investment funds and non-governmental pension funds involved in the issue of mortgage participation certificates, by the state management company to which the property constituting mortgage coverage has been transferred for trust management and federal statistical survey form No. P-6 ‘Information on financial investments and liabilities’.
Debt indicator of the non-financial sector and households on bank loans and debt securities can be updated due to changes in reporting data, the emergence of new sources of information, methodological changes.