Sweden among the first to adhere to new standard for financial statistics

Date 18/11/2014

Sweden is one of the first countries in the world to adhere to the IMF's new Special Data Dissemination Standard, SDDS Plus. This means that Sweden is committed to observing the IMF's requirements regarding dissemination of economic and financial statistics.

"Common standards for statistics with regard to transparency and accessibility contribute to strengthening global financial stability," says Governor Stefan Ingves of the Swedish central bank.

Statistics standard illustrates financial risks

Sweden has adhered to the IMF's SDDS since 1996. The purpose of this standard is to increase the quality and dissemination of comparable data between countries to avoid or more quickly resolve economic crises.

The standard is now being extended to include further requirements, primarily in the financial field. It will become easier to compare data internationally and to create deeper understanding of

risks in the financial sector
cross-border financial links
potential vulnerabilities

"Adhering to SDDS plus is in line with Sweden's and Sveriges Riksbank's views on openness and transparency, as well as the importance of good quality statistics that are internationally comparable. The fact that Sweden is a country with a large financial sector makes it natural for us to follow the IMF's recommendation for systemically-important countries to adhere to SDDS Plus," says Governor Ingves.

Several public authorities produce statistics

The statistics concerned are produced by Statistics Sweden, the Swedish National Debt Office, the Swedish National Financial Management Authority, the National Institute of Economic Research and Sveriges Riksbank (the Swedish central bank).

With effect from 1 January 2015, the responsibility for national coordination of SDDS Plus in Sweden will be assumed by Statistics Sweden.