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Contents

1 Introduction
1.1 Monetary statistics publications of the MNB
2 Basic concepts of statistics
2.1 Balance sheet statistics
2.1.1 Resident and non-resident units
2.1.2 Institutional sectors and subsectors
2.1.3 Branches of the national economy
2.1.4 Instruments
2.1.5 Aggregated and consolidated balance sheets
2.1.6 Monetary aggregates and the monetary base
2.1.7 Valuation principles
2.1.8 Changes in stock and transactions
2.1.9 Seasonal adjustment, short-run indices
2.2 Interest rate statistics
2.3 Central bank interest rates
2.4 Money and foreign exchange markets
3 Data releases
3.1 Balance sheets, monetary aggregates
3.1.1 Maturity categories
3.1.2 Seasonal adjustment
3.1.3 The statistical balance sheet of the MNB (Tables 1.a.1, 1.a.2, 1.a.3, 1.a.4)
3.1.4 The average balance sheet of the MNB (Table 1.a.5)
3.1.5 Monetary base (Tables 1.b.1 and 1.b.2)
3.1.6 Aggregated balance sheet of other MFIs and Aggregated balance sheet of credit institutions (Tables 2.a.1, 2.a.2, 2.a.3, 2.a.4 and 2.b.1, 2.b.2, 2.b.3, 2.b.4)
3.1.7 Consolidated balance sheet of MFIs (Tables 3.1, 3.2, 3.3 and 3.4)
3.1.8 Monetary aggregates and counterparts (Tables 4.1, 4.2, 4.3, 4.4 and 4.5)
3.1.9 Further breakdown of the items in the consolidated balance sheet (Tables 5.1-11.2)
3.2 Credits of non-financial corporation sector by branches
3.3 Interest rates of the loans and deposits of the sectors of non-financial corporations and households
3.3.1 Methodology of calculating the aggregated average in interest rate statistics
3.3.2 Treatment of subsidised loans in the interest rate statistics
3.3.3 Treatment of the loan arrangements under the mortgage relief programme launched by the Government in interest rate statistics
3.3.4 Seasonal adjustment of interest statistical data
3.3.5 Treatment of overnight loans and overdrafts
3.3.6 Treatment of confidentiality in interest rate statistics
3.3.7 Sources of the data
3.4 Composition of loans to the household sector
3.4.1 Characteristics of the publication, data content
3.4.2 Structure of the report, content of the data
3.4.3 Breakdown of the loan portfolio by rating grade
3.4.4 Breakdown of the loan portfolio by overdue payment
3.4.5 Breakdown of the housing and home equity loans disbursed in the quarter by loan-to-value ratio (LTV) and purpose of lending
3.4.6 Principal outstanding in the quarter for housing and home equity loans by loan-to-value ratio (LTV)
3.4.7 Loans to the household sector
3.5 Central bank interest rates
3.6 Money and foreign exchange markets
3.6.1 Money market figures
3.6.2 Foreign exchange market data
3.7 Net asset value of investment funds
3.8 Statistical balance sheet of insurance companies
4 Relationship with other statistics
5 Legal framework
6 References
7 Legal regulations

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Introduction

The purpose of this publication is to provide general information on the scope of statistical data published by the Magyar Nemzeti Bank (MNB) and to facilitate the use and correct interpretation of monetary statistics. The introduction briefly describes the main objective and outputs of monetary statistics, outlines its areas of application by the MNB and international bodies and gives some useful references for the benefit of readers interested in the implementation of monetary policy and analyses of financial stability. Chapter 2 presents key concepts used to describe monetary statistics phenomena such as economic sectors and instruments. The chapter also discusses the ways of presenting data, for instance stocks, the breakdown of changes in stock, seasonal adjustment, short-termn indices, aggregated and consolidated sectoral balance sheets; in the context of interest rate statistics the concepts of new business, agreed interest rate, annualised interest rate, annual percentage rate of charge, etc. Chapter 3 explains the content and structure of the monetary statistical data and time series available on the MNB website and provides additional information to facilitate their interpretation. Chapter 4 summarises connection to the securities statistics and financial accounts published by the MNB while Chapter 5 outlines the legal framework for the statistical work of the MNB.

The principal purpose of monetary statistics is to supply data to the central bank for its monetary policy and maintenance of financial stability. Monetary statistics data are used not only by MNB decision makers but also by macroeconomic analysts, investors and several Hungarian and international organisations. The financial press regularly reports on monetary statistics data. The MNB helps the media through the publication of the data on its website (www.mnb.hu) and press releases on statistical issues when new data are disclosed.

Upon Hungary's EU accession, the Magyar Nemzeti Bank joined the European System of Central Banks (ESCB). On accession, Hungary also undertook to join the euro area, which obliges the MNB to adjust its statistical activities to the requirements of the European Central Bank (ECB).

The MNB started the restructure of its statistics in 1999 to respond to domestic user requirements and to meet the obligations arising from our EU membership. One stage of the development process has been completed; as a result, the monetary statistics operations of the MNB now comply with the ECB's requirements and standards.

The principal output of monetary statistics is balance sheet statistics, which presents the financial assets and liabilities of the sector of monetary financial institutions (MFIs), i.e. economic agents active in money creation.

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