## F.7 Impact of Fintech on Macroeconomic Statistics

## Source details

**Canonical URL:** [F.7 Impact of Fintech on Macroeconomic Statistics](https://www.imf.org/-/media/files/data/statistics/bpm6/fitt/fitt-f7-global-consultation-questionnaire.pdf)

## Other formats

- [Markdown version](/-/media/files/data/statistics/bpm6/fitt/fitt-f7-global-consultation-questionnaire.pdf.md)
- [Structured JSON version](/-/media/files/data/statistics/bpm6/fitt/fitt-f7-global-consultation-questionnaire.pdf.json)

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### Purpose and scope
- Questionnaire issued by the Financial and Payments Systems Task Team to gather coordinated responses from national agencies responsible for national accounts and balance of payments compilation.
- Aims to assess the implications of Fintech for macroeconomic statistics and to solicit views on proposed recommendations for the updated BPM6 and the 2008 SNA.

### Respondent information and procedural items
- Requests respondent details: Country; Institution/Organization; Name; Position/Title; Email.
- Question 2 asks which area the response concerns: 1: National Accounts; Balance of Payments; Both National Accounts and Balance of Payments.
- Question 3 asks respondents to rate topic relevance: High Relevance; Medium Relevance; Low Relevance; Not Relevant.
- Contact emails provided for queries: STABPM6Update@imf.org and sna@un.org.
- Question 12 requests consent for publication of questionnaire responses: Yes / No.

### Conceptual recommendations presented for consultation
- Recommendation 1
  - Fintech companies should be classified within the existing institutional sectors/subsectors depending on economic objectives, functions, and behavior (see BPM6, paragraph 4.57 and subsection 3 in Chapter 4 of the 2008 SNA) without introducing a new sector “Fintech”.
  - Institutional sector breakdowns for fintech companies in the BPM and SNA could be revisited depending on TT-ISIC discussion results.
  - Questionnaire solicitates agreement: Yes / No / Undecided and requests explanation (free-text).
- Recommendation 2
  - Countries with significant fintech activities could consider introducing an “of which” category from an institutional perspective to identify which institutions may be considered Fintech companies.
  - “Of which” categories could be introduced at sector level (e.g., other sectors in ESS) or sub-sector level (e.g., other financial corporations).
  - Note: such “of which” categories could become irrelevant in some years given fast technological developments.
  - Questionnaire solicitates agreement: Yes / No / Undecided and requests explanation (free-text).
- Recommendation 3
  - Financial instruments and services provided by Fintech should be classified in existing categories of macroeconomic statistics (e.g., deposits, financial services) without introducing new financial instruments or services categories.
  - New manuals and guides should elaborate descriptions and statistical recording of items requiring clarification (examples given: insurance-related Fintech activities, peer-to-peer lending, other Fintech-enabled activities such as capital raising through crowdfunding).
  - Questionnaire solicitates agreement: Yes / No / Undecided and requests explanation (free-text).
- Recommendation 4
  - The new edition of BPM and SNA should include explicit guidance on “e-money” including “mobile money” consistent with the MFSMCG to indicate that e-money that can be used for direct payments to third parties, including when used for cross-border payments, is to be classified as transferable deposits.
  - Questionnaire solicitates agreement: Yes / No / Undecided and requests explanation (free-text).
- Guidance on compilation materials
  - Recommends that compilation guides for the next edition of BPM and SNA address compilation issues related to fintech and may use results of other GNs (e.g., GNs by the DZTT on digital products/services) to provide guidance.
  - Questionnaire solicitates agreement: Yes / No / Undecided and requests explanation (free-text).

### Practical implementation queries
- Question 9: Asks whether statistical or analytical needs in the respondent’s country may require an “of which” category for Fintech companies: Yes / No / Undecided.
- Question 10 (conditional on Q9 = YES): Asks for which sectors the “of which” classification would be most relevant (free-text).
- Question 11: Invites any other comments on the GN (free-text).

### Structure of the questionnaire (numbered items)
- The instrument is organized as 12 numbered questions:
  - 1: Respondent information fields.
  - 2: Area of macroeconomic statistics concerned (National Accounts / Balance of Payments / Both).
  - 3: Topic relevance (High / Medium / Low / Not Relevant).
  - 4–8: Agreement and comments on Recommendations 1–4 and compilation guides.
  - 9–11: Practical implementation and additional comments.
  - 12: Consent for publication of the response (Yes / No).

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_Source: https://www.imf.org/-/media/files/data/statistics/bpm6/fitt/fitt-f7-global-consultation-questionnaire.pdf_