Italy: Economic and financial data

Footnotes

Industrial production index, excluding constructions [back]

Change from previous period and change from same period of last year are in absolute value [back]

Differences in sources as well as in methodology account for (not significant) discrepancies between net borrowing and balance, that, "ideally", should be equal and of opposite sign [back]

Data include postal saving and the Treasury account with Bank of Italy [back]

Data are affected by EUROSTAT decisions on securization operations of July 3, 2002 [back]

Data inserted are taken from the tables of the quarterly Report "Relazione sulla stima del fabbisogno di cassa e situazione di cassa" that nevertheless are referred to the outstanding debt, net of the Deposits accounts held at the National Central Bank, whereas the data are referred to the gross outstanding debt [back]

This value is composed both of securities and loans. Securities issued in foreign markets, in compliance with UE methodology, are recorded after swaps [back]

This item includes both Postal bonds still pertaining to the Ministry of Finance and other deposits held at the Treasury by institutional units not belonging to the state sector. It also includes the coins in circulation and the loans in domestic currency in charge to the Central Government [back]

The residence criterion is "euro area". The domestic sector therefore comprises persons resident in Italy and in the other countries partecipating in the monetary union, the external sector persons not resident in the euro area. [back]

From January 2002, with the start of the circulation of the euro, the national contributions to the euro-area monetary aggregates are defined excluding currency in circulation, as agreed by the Eurosystem. [back]

Includes claims on non-financial public enterprises. [back]

The residence criterion is "euro area". The domestic sector therefore comprises persons resident in Italy and in the other countries partecipating in the monetary union, the external sector persons not resident in the euro area. [back]

The end-of-period stock may differ significantly from the statistical measure of the national contribution to euro-area 'base money', which is calculated as the average of daily stocks over the reserve requirements maintenance period and includes coins issued by the Treasury. [back]

The currency in circulation component does not correspond to the actual circulation of banknotes within the domestic territory. According to the accounting regime chosen by the Eurosystem, it is a portion of the 92 percent of the value of the euro banknotes in circulation allocated to the NCBs, corresponding to the Bank of Italy's paid-up share in the ECB's capital. [back]

Not applicable, as direct lending from the Bank of Italy to the government is not permitted under the terms of the Maastricht Treaty. Claims on general government originated before the start of stage two of monetary union are published by the Bank of Italy in the balance sheet aggregates under a separate item. [back]

Includes loans in euros to financial institutions (mainly refinancing operations with credit institutions). There is no credit from the Bank of Italy to non-financial public enterprises. Claims in the form of securities and claims in foreign currencies to the non-government sector are not separately identifiable in the accounting scheme. [back]

A sectoral breakdown for domestic credit is published, with a 1 month lag, in the Table "Summary data on resident Monetary Financial Institutions" (see: www.bancaditalia.it/statistiche/SDDS/stat_fin/Moneta_IFM/MON_IFM/MON_IFM_en.pdf). [back]

This item includes gold and gold receivables, claims on non-euro-area residents, both in domestic and foreign currencies. [back]

Includes counterparts to Special Drawing Rights and liabilities to non-euro-area resident (both in domestic and foreign currencies). [back]

For data on short and long-term government securities based on yields at auction see http://bip.bancaditalia.it/4972unix/homebipentry.htm?dadove=corr&lang=eng; The Financial Market:(Tables) TDEE0120, TDEE0121,TDEE0122, TDEE0123, TAME0130, and TAME0280. [back]

The dissemination of data concerning exchange rates is within the sphere of competence of the ECB. [back]

This item includes gold and gold receivables, claims on non-euro area residents denominated in foreign currency (bank accounts, securities and loans; claims on the IMF). [back]

For the General government the distinction between money market instruments and bonds and notes is provisional and under revision. [back]

This item includes gold and gold receivables, claims on non-euro area residents denominated in foreign currency (bank accounts, securities and loans; claims on the IMF). [back]