| Table Name | France |
| 1.0 Contact Information | |
| 1.1 Name | M. Francois Mouriaux |
| 1.2 Designation (Job Title) | Director -Balance of Payments Directorate |
| 1.3 Organization | Banque de France |
| 1.4 Mailing Address | Paris-France, 75049 CEDEX 01 |
| 1.5 Country | France |
| 1.6 Email | francois.mouriaux@banque-france.fr |
| 1.7 Telephone | (33) 1 42 92 32 71 |
| 2.0 Concepts, Definitions and Scope | |
| 2.1 Statistical frameworks for the compilation of external debt data | 2013 External Debt Statistics Guide/6th Edition of Balance of Payments Manual (BPM6) |
| 2.2 Consistency with the external debt liabilities of the International Investment Position (IIP) | Yes |
| 2.3 Additional Information on Concepts, Definitions and Scope | The French external debt is the outstanding amount of the liability side of the French international investment position excluding equities and financial derivatives. The French external debt is compiled by Banque de France according to the conceptual framework of the External Debt Statistics: Guide for Compilers and Users. The French external debt is broken down by institutional sector - general government, monetary authorities, monetary financial institutions (MFIs) and other sectors - , by maturity (short and long term on an original maturity basis) and by type of debt instrument (debt securities, trade credit, loans, currency and deposit). |
| 3.0 Sector Classification/Coverage | |
| 3.1 Data coverage for General Government | Fully covered |
| 3.2 Data coverage for Central Bank | Fully covered |
| 3.3 Data coverage for Deposit-taking corporations, except the Central Bank | Fully covered |
| 3.4 Data coverage for Other Sectors | Fully covered |
| 3.5 Data coverage for Other financial corporations | Not covered |
| 3.6 Data coverage for Nonfinancial corporations | Not covered |
| 3.7 Data coverage for Households and nonprofit institutions serving households (NPISHs) | Not covered |
| 3.8 Data coverage for Direct Investment: Intercompany lending | Fully covered |
| 3.9 External debt statistics presented into Public and Publicly Guar. Private Sector and Private Sector Not Publicly Guar. Debt | No |
| 3.10 External debt include both foreign currency and domestic currency denominated debt instruments held by nonresidents | No - Traded debt instruments issued by residents abroad, but in hands of residents are excluded from the gross external debt position. |
| 3.11 Additional comments and explanations on Sector Classification/Coverage | External debt liabilities are attributed to the sector of the immediate borrower and they are classified under the sector category of the debtor and not of any guarantor. Monetary authorities and general government items are clearly identified; in the present compilation system, the disaggregation of "other sectors" into three subsectors (nonbank financial corporations, nonfinancial corporations, households and NPISH) is not possible. Data is not available to allow disaggregation into public sector external debt and publicly guaranteed private sector debt. While there is no available information on external debt liabilities of households, the amount are deemed not of a significant magnitude. Debt liabilities of the offshore enterprises —including banks—that are resident in the reporting economy are not included in the gross external debt position. “The private sector” debt position is included but not separately identified. External debt data are collected for small enterprises (stocks and flows). |
| 4.0 Debt Instrument Classification/Coverage | |
| 4.1 Data coverage for Currency and deposits | Fully covered |
| 4.2 Data coverage for Debt Securities | Fully covered |
| 4.3 Data coverage for Loans | Fully covered |
| 4.4 Data coverage for Trade credit and advances | Fully covered |
| 4.5 Data coverage for Other debt liabilities | Fully covered |
| 4.6 Data coverage for Special drawing rights (allocations) | Fully covered |
| 4.7 Data coverage for Debt liabilities of direct investment enterprises to direct investors | Fully covered |
| 4.8 Data coverage for Debt liabilities of direct investors to direct investment enterprises | Fully covered |
| 4.9 Data coverage for Debt liabilities to fellow enterprises | Fully covered |
| 4.10 Arrears (including interest that accrues on arrears) reported in the same debt instrument | No - arrears are included in the gross external debt position, thus arrears cannot be separately identified under "short-term, other debt liabilities". |
| 4.11 Arrears separately identified in the memorandum items | No |
| 4.12 Classification of maturity for short-term/long-term debt instruments | Original maturity |
| 4.13 Additional comments and explanations on Debt Instrument Classification/Coverage | (i) SDR allocations are included starting from 2002Q4. (ii) The coverage of liabilities is in line for most of financial instruments with the guidelines provided by the IMF. The French external debt is the outstanding amount of the liability side of the French international investment position excluding equities and financial derivatives. Deposits of nonresidents with domestic banks are included and trade credits owed to nonresidents are included, while positions in financial derivatives, equity securities, and equity capital are excluded from the gross external debt position. External debt includes securities issued in the domestic markets by residents and purchased by nonresidents. Financial leases with nonresidents are treated as loans and included in the gross external debt position. No arrears are included in the gross external debt position, thus arrears cannot be separately identified under "short-term, other debt liabilities". |
| 5.0 Valuation and Basis of Recording | |
| 5.1 Main valuation method for debt securities (in main table) | Market Value |
| 5.2 Main valuation method for debt securities (in memorandum items) | Market Value |
| 5.3 Other methods and weights used for valuation of debt securities | None |
| 5.4 Basis for compiling external debt statistics | Accrual Basis |
| 5.5 Inclusion of accrued interest costs that are not paid | Yes |
| 6.0 Data sources/Compiling Organizations | |
| 6.1 Main data source(s) for the external debt statistics | (i) Quarterly stocks are collected for monetary authorities, MFIs, and partly for other sectors (trade credits) and for general government.
(ii) Debt securities: External debt data on portfolio investment cover bonds and notes and money market instruments. Stocks are compiled from a quarterly survey of resident banks which report notably on the portfolio held on behalf of their non-resident clients. A very limited number of firms report directly on money market instruments on a yearly basis. Data are also collected quarterly from clearing houses for public debt instruments.
(iii) Other investment: Quarterly stocks of monetary authorities are directly reported by Banque de France. Stocks data of the general government sector are partly reported on a monthly basis by the reporting agencies and partly estimated with the balance flows. Quarterly stocks of monetary and financial institutions (MFIs) are derived from banks’ and monetary mutual funds’ balance sheets. For the other sectors, stocks are compiled from an annual survey of companies and flows are derived from the quarterly Balance of Payments. Stocks of trade credits are reported on a quarterly basis from a stock survey of a sample of firms. (iv)
Intercompany lending: Data on inward direct investment stocks of other capital are collected through an annual survey. Flows are derived from the quarterly Balance of Payments. |
| 6.2 Link(s) to national website where the external debt statistics are being disseminated | Data are disseminated on the Banque de France website (www.banque-france.fr) and the “Webstat” database (http://webstat.banque-france.fr) and on the website of INSEE (www.insee.fr). |
| 6.3 Link(s) to relevant metadata that currently exists and is consistent with your external debt statistics | External debt is a subset of the international investment position. The detailed statistical sources and compilation methods are made available on the Banque de France web pages (see: http://www.banque-france.fr/economie-et-statistiques/base-de-donnees/methodologie/methodologie-de-la-balance-des-paiements-et-de-la-position-exterieure-de-la-france.html) |
| 6.4 Primary agency responsible for compiling external debt statistics | Banque de France |
| 6.5 Primary agency responsibile for disseminating external debt statistics | Banque de France |
| 7.0 Periodicity and Timeliness | |
| 7.1 Frequency of external debt statistics compilation | Quarterly |
| 7.2 Frequency of external debt statistics dissemination | Quarterly and Annually |
| 7.3 Timeliness of the publication of the external debt statistics | Data are compiled and disseminated 3 months after the end of the reference period. |
| 7.4 Additional comments on Periodicity and Timeliness | None |
| 8.0 Revision Policy | |
| 8.1 Data revision policy | Regular schedule - Data are revised once a year in June when yearly data are available. |
| 9.0 Unit of Measure | |
| 9.1 Unit of Measure | Data are in USD. |
| 10.0 Reference Period | |
| 10.1 Reference Period | (i) Data are available starting from 2002Q4. (ii) Data converted through generic conversion from 2003 EDS Guide/BPM5 to 2013 EDS Guide/BPM6 basis by the World Bank from 2002Q4 to 2010Q4. (iii) Data reported by country on a 2013 EDS Guide/BPM6 basis starting from 2011Q1. (iv) As per 2013 EDS Guide/BPM6 methodology, data includes SDR allocations sourced from IMF (the creditor) for period 2004Q4 to 2010Q4, and reported by the country from 2011Q1 onward. |
| 11.0 Table Reporting | |
| 11.1 Table 1 - Gross External Debt Position: by Sector (Prescribed component) | Yes |
| 11.2 Table 2 - Gross External Debt Position: Foreign Currency and Domestic Currency Denominated Debt (Encouraged component) | No |
| 11.3 Table 3 - Debt-Service Payment Schedule for Outstanding External Debt as of End-Period: by Sector (Encouraged component) | No |
| 11.4 Table 4-Gross External Debt Position:Principal and Interest Payments Due in 1 Yr or less -by Sector (Encouraged component) | No |
| 11.5 Table 1.1 - Gross External Debt Position: Debt Securities - Reconciliation of Nominal and Market Value | No |
| 11.6 Table 1.2 - Gross External Debt Position: Other Sectors | No |
| 11.7 Table 1.3 - Gross External Debt Position: Public Sector Debt and Publicly-Guaranteed Private Sector Debt | No |
| 11.8 Table 1.4 - Gross External Debt Position: Arrears by Sector | No |
| 11.9 Table 1.5 - Net External Debt Position: by Sector | No |
| 11.10 Table 1.6 - Gross External Debt Position: Reconciliation of Positions and Flows | No |
| 11.11 Table 2.1 - Gross External Foreign Currency and Foreign-Currency-Linked Debt Position | No |
| 11.12 Table 3.1 - Gross External Debt Position: Short-Term Remaining Maturity - by Sector | No |
| 11.13 Table 3.2 - Debt-Service Payment Schedule for Outstanding External Debt as of End-Period: by Sector and Instrument | No |
| 12.0 Metadata Update | |
| 12.1 Metadata last updated | 12/14/2016 |