FAME in a Smaller Central Bank: Issues and solutions

Transcription

1 FAME in a Smaller Central Bank: Issues and solutions Thor Saari, Central Bank of Iceland

2 CBI Information Architecture 110 workstations 40 Windows NT/2000, 70 Windows 98/95 20 FAME User Licenses Apollo SQL Server Ares NT Server Artemis File Server & FAME Server Hera SQL Server & Agresso Server VAX/VMS Seifur Athena Hades File Server/Domain Contoller Iris Exchange Server Hermes Mars Backup Domain Controller Perseus Domino Web Server

3 Data Sources CBI Credit System Data Interest Rates Foreign Exchange BOP Statistics Securities Auctions Stock Exchange Statistics Iceland Labour Data Unemployment Data Wages/Earnings CPI Foreign Trade Statistics National Economic Institute National Accounts Industrial Production General Goverment Ops. Ministry of Finance Central Government Ops. Reuters, OECD, IMF CBI Data Operations CBI Processing Economics Department Labour Data Unemployment Wages/Earnings CPI Foreign Trade Statistics Central Government Ops. General Government Ops. National Accounts Industrial Production Monetary Department Interest Rates Foreign Exchange Rates Money Market Statistics Department Credit System Data BOP Statistics Foreign Exhange Volume Securities Auctions Stock Exchange Data Output Central Bank Statistics (weekly Web publication) Monetary Bulletin (quarterly print publication) Annual Report (annual print publication) Weekly Summaries\ Analysis (for internal use) Monthly Summaries\ Analysis (for internal use) Working Papers

4 December Data Interest Rates FX Rates Money Market Data Stock Exchange CB Accounts CBI Good Old Days Monthly Statistics Publication, December example Credit System, Preliminary Pension Funds Leasing Companies Credit System Data FX Volume Central Gov. Opserations Securities Auctions Payment Intermediation December Data Ready January, Week I January, Week II January, Week III December Data collected throughout January, sent to the printer in early February and published in the 3rd week of February. A lag of 7 weeks for some data. Securities Market Operations Mutual/Equity Funds Investment Funds January, Week IV

5 FAME in Iceland Cooperation between: The Central Bank of Iceland The National Economic Institute The Ministry of Finance Allows us to: Pool data and data knowlege Pool computer knowledge Pool programming knowledge Pool costs

6 The Data Model 9 s SI_GEN (CB_FXR) FX Rates SI_VEX (CB_INR) Interest Rates SI_EHR (CB_BSI) Bal. Sheet Items SI_GRJ (CB_BOP) Balance of Payments SI_HAF (CB_P&M) Prices and Markets FMR_RIK (MoF_CGO) Central Gov. Ops. ÞHS_ÞHR (NEI_NAC) National Accounts OECD_MEI Main Economic Indicators IMF_IFS Internat. Financial Statistics Monetary Department Monetary Department Statistics Department Statistics Department Statistics Department Ministry of Finance National Econ. Inst. Statistics Department Statistics Department

7 Mnemonic System FX Rates Mnemonics in database on FX Rates have 5 dimensions US Dollar against Icelandic Króna, Central Bank quotations, buy, daily Currency Exchange rate type USD. ISK. OVKA. S. D Currency denominator Exchange rate suffix Frequency

8 Mnemonic System Interest Rates Mnemonics in database on Interest Rates have 9 dimensions T-Bill, 3-month, yield, bond-market, Reuters, US Dollar, U.S., non-indexed, daily Interest rate item Interest rate type Currency Area RIVX. 03M. A. VBM. REU. USD. US. O. D Original maturity Sector Source Data type Frequency

9 Mnemonic System Balance Sheet Items Mnemonics in database on BSI have 10 dimensions Banking sector, National Bank, assets, loans, home mortgages, indexed, 25 years, Iceland króna. Iceland, non-adjsuted, monhtly Sector Balance sheet item Data type Currency Adjustment VID. LAN. EUMUAS. IBU. SV. 25A. ISK. IS. N. M Organization Counterpart sector Maturity Area Frequency

10 Mnemonic System Balance of Payments Mnemonics in database on BOP have 9 dimensions Current account, services, air-freight, exports, Iceland, world, flows, non-adjusted, quarterly Current account, Services Air-freight Area Data type Adjustment VT. SG. FLFARM. D. IS. A1. F. N. F Transportation Direction Counterpart Area Frequency

11 Management and Operation Techincal Manager: Techincal Direction Server\Local set-up User licences FACS Development JAVA Working groups FAME technical relations Other FAME relations Process design\development Programming Technical Manager Administrators CB data Data Base Manager FAME Working group, CBI, NEI, MOF Administrators External data Data Base Manager: General Direction Data model design Mnemonic system design Metadata design Descriptions design Documentation design User licenses Working groups Process design\development FAME general relations Other FAME relations CB Info Web CB Data Handbook CB_FXR CB_INR CB_BSI CB_BOP CB_P&M OECD_MEI IMF_IFS MOF_CGO NEI_NAC Administrators: Regular updates of time-series and announcements Data, Description and Docum. qual. control Process design\development Other: CBI FAME users meetings: Every 3 months All FAME users meetings: Every 6 months FAME Users Conference: Every 18 months

12 4 Stages of FAME Implementation Stage 1: Population of 9 databases, Data Warehousing, General read access # of time-series CB_FXR 115 CB_INR 106 CB_BSI CB_BOP 380 CB_P&M? MOF_GGO? NEI_NAC? OECD_MEI IMF_IFS Stage 3: Creation of automatic media (distribution vehicles) for routine distribuiton of data in final form such as: Reports, Graphs, Tables, Summaries Stage 2: Population of databases with all underlying raw data and neccessary procedures, formulae and processes for the data. Data Warehousing, Data Processing, Selected Access Restrictions, Confidential infromation, sub-databases. Example: CB_BSI 180 Organizations, companies & funds, there of: Exp. # of time-series Total 30 Banks and Savings institutitons Investment credit funds Insurance companies Leasing companies Mutual funds Equity funds Pension funds (monthly) Pension funds (annual) TOTAL (approx) Stage 4: Public access to selected databases on the CB Web-site via: Web Factory, Text files, JAVA, other.

13 User Interfaces FAME 4GL MYFAME FAME\Excel Navigator FAME Populator TROLL

14 Takk Thank you Toda