Home > Statistics > Central government guarantees > 2014 > 4th quarter > Quality Description: Central government guarantees

Quality Description: Central government guarantees

• 1. Relevance of statistical information
• 2. Methodological description of the statistics
• 3. Correctness and accuracy of data
• 4. Timeliness of published data
• 5. Accessibility of data
• 6. Comparability of statistics
• 7. Coherence

1. Relevance of statistical information

The statistics on central government guarantees include guarantees for which the state is ultimately liable.

As Finland has made a commitment to deliver to the International Monetary Fund (IMF) data according to the so-called SDDS standard and as Finland’s guarantee debt exceeds 5 per cent of total central government debt, the IMF requires quarterly reports on guarantee data. The European Commission also requires regular reports on guarantee data. Other international data users include various agencies which assess creditworthiness.

2. Methodological description of the statistics

The guarantee statistics are a census survey carried out as a direct data collection from institutions granting guarantees.

3. Correctness and accuracy of data

The statistics can be regarded as quite reliable. The revised data are released retrospectively in connection with the next releases. The data are compared to the guarantee data published in the report on the Final Central Government Accounts.

4. Timeliness of published data

The statistics on guarantees are compiled quarterly. Precise release dates are announced in advance under the heading “Future releases” on this home page.

5. Accessibility of data

Since 2007 the data have been published only on Statistics Finland’s website. Data on 1999-2006 were published in Statistics Finland’s paper publication “Monthly Series on Financial Markets”.

6. Comparability of statistics

There are two breaks in the time series of the statistics on guarantees. The first break is between the last quarter of 1999 and the first quarter of 2000. The second break is between the third and fourth quarters of 2005.

At the beginning of 2000 new types of guarantees were included in central government guarantees. This revision increased e.g. the stock of guarantees at the end of 2000 by roughly EUR 3.9 billion. During the last quarter of 2005 one institution granting government guarantees revised its calculation of government guarantees to housing corporations. Of the roughly EUR 4 billion increase in the stock of guarantees, which occurred between the end of 2004 and the end of 2005, some EUR 2.3 billion resulted from this revision.

7. Coherence

In addition to the Statistics Finland statistics on central government guarantees, data on government guarantees are published in the Central Government Final Accounts. The stock of government guarantees reported in the Final Accounts is smaller than the stock of guarantees in Statistics Finland’s statistics. This is due to the Central Government Final Accounts only reporting the government guarantees included in the State Budget. By contrast, Statistics Finland’s statistics on central government guarantees include all guarantees for which the state is ultimately liable.

Source: Central government guarantees, Statistics Finland

Inquiries: Olavi Savolainen 029 551 3303, Hilkka Jaatinen 029 551 3630, rahoitusmarkkinat@stat.fi

Director in charge: Leena Storgårds

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Updated 5.3.2015