## cr17303 — Executive Summary and Technical Findings (IMF STA mission, January 12–22, 2015)

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---

### Mission objectives and scope
- A monetary and financial statistics (MFS) mission from the IMF’s Statistics Department (STA) visited Kampala during January 12–22, 2015.
- Objective: review and map source data for savings and credit cooperatives (SACCOs) to the IMF’s Standardized Report Form (SRF) 2SR and other financial corporations (OFCs) to the SRF 4SR in line with the IMF’s Monetary and Financial Statistics Manual (MFSM).
- Outcomes:
  - Development of spreadsheets and bridge tables to map source data to SRF 2SR and SRF 4SR.
  - Identification of gaps in source data for certain OFC subsectors.

### Key findings — source data and mapping
- Source data sufficiency:
  - SACCOs, the National Social Security Fund (NSSF), and non deposit-taking microfinance institutions (NDTMFIs) — generally sufficient for mapping once clarifications provided.
  - Insurance corporations and private pension funds (excluding the NSSF) — source data not adequate; modified reporting forms agreed with URBRA and IRA to include required breakdowns for mapping.
- Mapping approach:
  - One bridge table used to map SACCOs to SRF 2SR.
  - For SRF 4SR, separate bridge tables for:
    1. insurance corporations;
    2. pension funds (including the NSSF and private pensions);
    3. other financial intermediaries (OFIs) — only NDTMFIs included; and
    4. foreign exchange (FOREX) bureaus (financial auxiliaries).
  - Each mapping includes input source-data tables, automatically calculated SRF 2SR or 4SR output forms, and a bridge table presenting mapping details.

### Institutional coverage and sectoral context
- Financial sector assets equal to 42 percent of GDP as of end-June 2014.
- OFC assets equaled just over nine percent of GDP, of which:
  - other financial intermediaries (excluding insurance corporations and pension funds) accounted for one percent,
  - insurance corporations and pension funds accounted for 8.8 percent (the NSSF accounted for 7.3 percent),
  - financial auxiliaries accounted for 0.2 percent.
- End-2014 ODC sector composition:
  - 25 commercial banks,
  - three credit institutions,
  - three deposit-taking microfinance institutions,
  - about 4,000 savings and credit cooperatives (SACCOs).
- Current SRF 2SR coverage: all ODCs except SACCOs (mission assisted to expand SRF 2SR to include SACCOs).

### Responsibilities and compilation
- Bank of Uganda (BOU) is solely responsible for compiling and disseminating monetary statistics; the Statistics Department (SD) and the Monetary Statistics and Data Dissemination Division (MSDDD) have operational responsibility.
- SACCOs:
  - Not supervised, no regulatory body, no harmonized reporting standard or standardized chart of accounts; reporting is voluntary and often minimal.
  - Data collection program implemented to have largest SACCOs cover 70 percent of total deposits; at the time of the mission, 133 SACCOs met the 70 percent threshold.
- Recommendation: Use mission spreadsheets to compile SRF 2SR for SACCOs and incorporate into SRF 2SR for the ODC sector by end-December 2015.

### Benchmarks and timelines (selected)
- Benchmark 1:
  - Review and begin using mission spreadsheets to compile and report SRF 2SR for SACCOs beginning with December 2014 data, by June 30, 2016.
- Benchmark 2:
  - Implement modified report forms for other pension funds and insurance corporations and begin compiling and reporting quarterly SRF 4SR including insurance corporations, the NSSF, other pension funds, NDTMFIs, and FOREX bureaus, by September 30, 2017.
- Project Framework selected outputs and dates:
  - Review and begin using spreadsheets to compile SRF 2SR for SACCOs beginning with December 2014 data; verifiable indicator: SRF 2SR for SACCOs compiled and incorporated beginning with December 2014 data; completion date: 12/31/2015.
  - Review and begin using spreadsheets to compile SRF 4SR for NSSF, NDTMFIs, and FOREX bureaus beginning with June 2014 data; verifiable indicator: SRF 4SR available from June 2014; completion date: 12/31/2015.
  - Submit expanded SRF 2SR including SACCOs beginning with December 2014 data; verifiable indicator: expanded SRF 2SR available for publication in IFS; completion date: 06/30/2016 (Benchmark Action).
  - Submit SRF 4SR for NSSF, NDTMFIs, and FOREX bureaus for publication in IFS; completion date: 06/30/2016 (first submission by 09/30/2015).
  - Implement modified report forms for other pension funds and insurance corporations; completion date: 12/31/2016.
  - Begin compiling quarterly SRF 4SR for other pension funds and insurance corporations from modified forms; completion date: 06/30/2017.
  - Submit SRF 4SR for insurance corporations, the NSSF, other pension funds, NDTMFIs, and FOREX bureaus for publication in IFS; completion date: 09/30/2017 (Benchmark Action).
  - Work with Uganda Development Bank to collect additional breakdowns needed for mapping to SRF 4SR; completion date: 06/30/2017.

### Action plan — main recommendations
- Use mission spreadsheets to compile and report monetary statistics for ODCs (including SACCOs) and for OFCs to the IMF for publication in IFS.
- Further improve source data for ODCs and OFCs based on MFSM methodology.
- Work with URBRA and IRA to implement modified reporting forms for private pension schemes and insurance corporations to collect breakdowns needed for mapping.

---

### Expansion of SACCO coverage and reporting logistics
- To expand coverage BOU would need to visit individual SACCO offices to encourage and assist voluntary submission of detailed reporting forms (imposes a cost on SACCOs).
- Data collection frequency mismatch:
  - SACCO data are collected quarterly; ODC survey reported monthly.
  - Interpolate SACCO data in ODC survey for missing months; typical interpolation: repeat data from last month of previous quarter for next two months.
- Reporting lags:
  - SACCO data may be reported with a lag of several months relative to other SRF 2SR data.
  - Because SACCOs represent a small share of SRF 2SR, authorities advised to carry forward most recent SACCO data when submitting SRF 2SR and revise later.
- Communication and regulatory developments:
  - UCSCU facilitates communication between BOU and SACCOs.
  - A regulatory regime is being developed for larger SACCOs; no deposit insurance currently; introducing deposit insurance is an objective.
- Extrapolation recommendation:
  - If reporting coverage incomplete, extrapolate reported aggregates by dividing reported aggregates by the reporting coverage share.
  - Example: If reporting SACCOs account for 75 percent of total deposits and report an aggregate of 150, report 150/0.75 = 200 for the sector.

### Source data characteristics and mapping for SACCOs (SRF 2SR)
- Coverage of source forms:
  - Detailed report forms represent 70 percent of SACCO deposits; after clarifications, forms accurately reflect SACCO balance sheet positions and are adequate for mapping to SRF 2SR.
- Asset side:
  - Majority of assets are loans with no sectoral or counterparty breakdown; BOU indicated no breakdown needed since overwhelming majority of loans are to households.
  - Final use breakdowns (agriculture, manufacturing, etc.) of limited use for mapping.
- Liability side:
  - Most liabilities are deposits from households or owners’ equity.
  - No currency breakdown; except for one nonresident item SACCOs do not transact in foreign currency.
- Classification clarifications:
  - “Other deposits” classified as other deposits (included in broad money) as they require depositor presence to withdraw.
  - “Other liabilities” classified as other deposits (included in broad money) by other residents because they include mainly safeguard deposits of nonmembers and building funds that cannot be easily withdrawn.
- Small items and data quality:
  - “Other borrowings” classified as loans from OFCs represent less than 1 percent of total assets and may require further sectoral breakdown verification.
  - Some inconsistencies observed; authorities identified mistakes to be corrected.
- Testing and validation:
  - Mapping to SRF 2SR tested using quarterly data: no irregularities observed and vertical check was zero for all periods.

### SACCO consolidated quarterly statement of financial position — Dec-13 (Ushs. '000)
- Assets (Dec-13):
  - Cash in hand: 5,323,620.39
  - Deposits (total): 44,784,034.99
    - with Commercial Banks: 23,645,375.43
    - with MDIs: 20,587,680.24
    - with Credit Institutions: 176,450.32
    - with SACCOs: 3,549.30
    - Others Deposits: 370,979.70
  - Investments (total): 5,204,675.30
    - Treasury Bills: 366,908.50
    - Treasury Bonds: 400,000
    - Shares in unions: 302,012.74
    - Shares in Companies: 69,128.18
    - Shares in SACCOs: 36,784.52
    - Mobile Money: 781,737.02
    - Other investments: 3,248,104.34
  - Gross Loans: 214,190,092.19
  - Loan loss Reserves: 5,000,328.26
  - Net Outstanding Loans: 209,189,763.93
  - Fixed Assets: 23,317,808.99
    - Depreciation: 4,352,122.42
    - Net Assets (fixed): 18,965,686.57
  - Other Assets: 9,359,962.42
  - TOTAL ASSETS: 292,827,743.60
- Liabilities and equity (Dec-13):
  - Total Deposits: 155,890,651.76
    - Deposits by SACCOs: 663,186.21
    - Compulsory deposits: 6,483,693.20
    - Voluntary deposits: 148,743,772.34
      - Time deposits: 30,966,058.04
      - Fixed Deposits: 7,144,212.46
      - Sight Deposits: 106,150,651.12
      - Other deposits: 4,482,850.72
  - Total Borrowings: 9,785,704.77
    - From Commercial Banks: 78,369.04
    - From Credit Institutions: 118,147.28
    - From Other Financial Institutions: 566,004.53
    - From Government e.g., MSC: 5,994,858.50
    - From Non residents: 259,092.51
    - Other borrowings: 2,769,232.90
  - Administered funds: 889,136.76
  - Grants (total): 4,578,854.01
    - From Government: 537,774.18
    - From UCA: 106,841.76
    - From UCSCU: 817,001.58
    - From Non residents: 230,213.13
    - Other Grants: 2,887,023.35
  - Other Liabilities: 21,439,116.49
  - Total Liabilities: 192,583,463.78
  - Capital (total): 100,244,279.82
    - Members share capital: 65,039,586.09
    - Reserves: 16,274,967.86
    - Retained Surplus/Deficit: 18,929,725.87
  - TOTAL LIABILITIES (and equity): 292,827,743.60

---

### Institutional and source-data coverage for OFCs and mapping to SRF 4SR
- OFC sector composition in Uganda:
  - NSSF (by far the largest OFC), 600-800 private pension schemes, 21 insurance corporations (four life, remainder nonlife), Uganda Development Bank Ltd. (UDBL), 224 foreign exchange bureaus, over 400 NDTMFIs, two leasing houses, and a stock exchange.
- Insurance sector:
  - IRA collects annual audited accounts but reporting lacks detail for SRF 4SR mapping.
  - IRA agreed to introduce new reporting forms (life and nonlife) with annexes providing breakdowns; BOU and IRA agreed on compromise annexes with added sectoral breakdowns.
  - Mapping assumptions:
    - Nonlife insurance: assumed 50 percent households and 50 percent private nonfinancial corporations; BOU should work with IRA to investigate and improve this split.
    - Life insurance: assumed all policy holders are households.
  - Recommendation: BOU should work with IRA to implement new report forms and annexes, begin reporting on a quarterly basis by end-December 2016, and start compiling SRF 4SR for insurance corporations to be incorporated into SRF 4SR for OFCs by June 2017.
- NSSF and private pension schemes:
  - NSSF provides detailed monthly data adequate for SRF 4SR mapping; most entries broken down by currency, instrument, and sector.
  - Mapping tested with monthly data: no irregularities; vertical check zero for all periods.
  - Recommendation: BOU should use mission spreadsheets to compile SRF 4SR for the NSSF and incorporate it in SRF 4SR for the OFC sector by end-December 2015.
  - Private pension schemes: URBRA proposed new forms; mission proposed modifications; modified forms mapped to SRF 4SR.
  - Recommendation: BOU should work with URBRA to implement modified forms, begin reporting quarterly by end-September 2016, and compile SRF 4SR for pension schemes to be incorporated into SRF 4SR for OFC sector by end-September 2016.
- NDTMFIs:
  - Larger NDTMFIs submit quarterly data to BOU; balance sheets simple (compulsory deposits from member households and loans to member households); little foreign currency denomination.
  - Compulsory deposits are restricted and not included in broad money.
  - Mapping tested with quarterly data: no irregularities; vertical check zero.
  - Recommendation: BOU should use mission spreadsheets to compile SRF 4SR for NDTMFIs and incorporate into SRF 4SR for OFC sector by end-June 2015.
- FOREX bureaus:
  - Report quarterly; balance sheets mainly cash and deposits (assets) and directors’ loans, paid up capital, retained earnings, small loans (liabilities).
  - All deposits assumed transferable.
  - About 15 percent of balance sheet classified as miscellaneous on both sides; clarification recommended.
  - Mapping tested with quarterly data: no irregularities; vertical check zero.
  - Recommendation: BOU should use mission spreadsheets to compile SRF 4SR for FOREX bureaus and incorporate into SRF 4SR for OFC sector by end-June 2015.
- UDBL:
  - Data provided but balance sheet small relative to OFC sector and lacks important breakdowns; decision made not to include UDBL in SRF 4SR until additional breakdowns collected.
- Electronic linkage and automation:
  - Reporting forms electronically linked to SRF 2SR and SRF 4SR; filling reporting forms in Excel will automatically populate SRF spreadsheets.

---

### Data reporting to IMF and operational recommendations
- Current reporting by BOU to IMF:
  - SRF 1SR for the central bank, SRF 2SR for ODCs, SRF 5SR for monetary aggregates, SRF 6SR for interest rates, and exchange rates for publication in IFS on a monthly basis.
  - Reports 35 financial soundness indicators (FSIs) for posting on IMF’s FSI website: all 12 core FSIs, 12 of the 13 encouraged FSIs for deposit takers, and 11 of the 14 encouraged FSIs for other sectors.
- Use of mission tools:
  - Spreadsheets developed electronically link SRF 2SR and SRF 4SR to SACCO and OFC source data via bridge tables; filling reporting forms in Excel will automatically populate SRF spreadsheets.
  - Tool can be used to compile and report expanded SRF 2SR including SACCOs and SRF 4SR for OFCs to STA for publication in IFS.
  - BOU compilers should be able to produce updated SRF 2SR and SRF 4SR and associated surveys as soon as source data are available.

### Recommendation (Submission)
- Recommendation: BOU should submit the expanded SRF 2SR including SACCOs and the SRF 4SR for the NSSF, NDTMFIs, and FOREX bureaus by end-June 2016 to STA for eventual publication in IFS.
- Coverage requirements:
  - Expanded SRF 2SR should cover commercial banks, credit institutions, deposit-taking microfinance institutions, and SACCOs beginning with June 2014 data.
  - SRF 4SR for OFC sector including NSSF, other pension funds, insurance corporations, NDTMFIs, and foreign exchange bureaus beginning with June 2014 data should be submitted by end-June 2017.

---

### MSDDD / BOU capacity, training, and technical assistance
- MSDDD staffing and training (as of January 2015):
  - MSDDD had five staff assigned to MFS work; three participated in STA monetary statistics training.
  - Assistant Director of SD (who heads MSDDD) directly involved and worked closely with mission.
- Mission observations:
  - Relevant BOU officials were familiarized with spreadsheets and data mappings produced by mission.
  - Staff capacity is adequate; BOU staff able to use spreadsheets to compile monetary statistics for OFCs without further technical support provided no further institutional coverage expansion is required.
- Contingency:
  - Any further assistance could be addressed through the DFID/IMF EDDI project.

---

### Appendix highlights — Insurance and Pension reporting structures and sample mappings
- Proposed new insurance reporting forms (Life and Nonlife) include consolidated balance sheet headings and Annex Tables with breakdowns by currency, instrument, and counterparty.
- Annex Tables and SRF 4SR mapping examples include explicit mappings of asset and liability items to SRF codes (e.g., Cash and deposits in banks mapped by shillings vs foreign currency; Loans by counterparty categories; Securities mapped to central government and other).
- Life Insurance Companies — consolidated balance sheet (reporting year 2012) sample totals and selected line items:
  - Total assets: 209
  - Cash and deposits in banks 1/: 40
  - Other receivables 1/: 25
  - Loans 1/: 39
  - Investment in securities/equities, unquoted shares, statutory deposits 1/: 12
  - Investment in affiliates 1/: 39
  - Balances due from related parties 1/: 19
  - Other assets 1/: 35
  - Total liabilities: 270
  - Borrowings/bank overdraft 1/: 130
  - Due to parent/affiliates company 1/: 86
  - Other liabilities/payables 1/: 54
  - Total capital and reserves: 3
- Nonlife Insurance Companies — consolidated balance sheet (reporting year 2012) sample totals and selected line items:
  - Total assets: 68
  - Cash and deposits in banks 1/: 20
  - Loans 1/: 36
  - Investment in affiliates 1/: 3
  - Balances due from related parties 1/: 4
  - Other assets 1/: 5
  - Total liabilities: 270
  - Borrowings/bank overdraft 1/: 130
  - Due to parent/affiliates company 1/: 86
  - Other liabilities/payables 1/: 54
  - Total capital and reserves: 3

---

### Appendix V — NSSF Balance Sheet with Mapping (UGX '000)
- Key totals (aggregate):
  - TOTAL ASSETS: 4,274,015,643
  - TOTAL LIABILITIES: 4,274,015,643
  - Vertical check: - 0
- Assets — National Currency (UGX '000):
  - CASH: 98,395
  - DEPOSITS (Lines 3 and 10): 729,154,945
    - TRANSFERABLE DEPOSITS (Lines 4–9): 1,380,298
    - OTHER DEPOSITS (Lines 11–16): 727,774,647
  - SECURITIES HELD (Lines 18 and 21): 2,640,591,027
    - CENTRAL GOVERNMENT SECURITIES (Lines 19 and 20): 1,938,458,839
      - Treasury Bonds: 1,938,458,839
    - OTHER SECURITIES: 702,132,188
  - OTHER INVESTMENTS (Lines 32 and 33): 463,218,385
    - Mortgage Finance: 39,279,111
    - Property Investments: 423,939,273
  - LOANS (Lines 35–44): 21,001,970
  - SHARES AND EQUITY (Lines 46–53): 386,458,276
  - FIXED ASSETS (Lines 56–60): 39,546,976
    - NET FIXED ASSETS (Lines 55 less 61): 11,372,667
  - OTHER ACCOUNTS RECEIVABLE (Lines 64 and 65): 22,119,979
- Assets — Foreign Currency (UGX '000):
  - DEPOSITS (Lines 3 and 10): 41,289,840
  - SECURITIES HELD (Lines 18 and 21): 557,906,957
  - SHARES AND EQUITY: 101,264,135
  - OTHER ACCOUNTS RECEIVABLE: 3,154,720
  - TOTAL ASSETS (Foreign Currency components): 703,615,653
- Liabilities — National Currency (UGX '000):
  - NET EQUITY OF HOUSEHOLDS IN PENSION FUNDS (Lines 92, 94–97 less 93): 4,193,915,048
    - Opening members' fund: 3,283,822,194
    - Benefits paid: 157,421,891
    - Contributions: 598,719,578
    - Interest due on contributions: 328,065,894
    - Surplus/(Deficit) Account: 91,506,842
    - Reserve Account: 49,222,431
  - OTHER ACCOUNTS PAYABLE (Lines 100 and 101): 41,422,347
  - CURRENT YEAR PROFIT /LOSS (Lines 110–112): 27,966,991
    - Revenue for Current Year: 475,227,988
    - Expenditure for Current Year: -119,195,103
    - Interest to Members expenses: -328,065,894
- Liabilities — Foreign Currency (UGX '000):
  - OTHER ACCOUNTS PAYABLE: 10,711,257
- Liabilities — Total (NC + FC):
  - NET EQUITY OF HOUSEHOLDS IN PENSION FUNDS (total): 4,193,915,048
  - OTHER ACCOUNTS PAYABLE (total): 52,133,604
  - CURRENT YEAR PROFIT /LOSS (total): 27,966,991
  - TOTAL LIABILITIES: 4,274,015,643
- Investment maturity profile and allocations (UGX '000):
  - Local Currency
    - (a) Short-term investments (up to 1 year) (9+10): 687,259,105
    - (b) Medium-term investments (above one year to 5 years) (12+13+14): 1,175,063,091
    - (c) Long-term investments (more than 5 years) (16+17+18+19+20): 1,599,684,088
    - (d) Mortgage finance: 39,279,111
    - (e) Investments Outside Uganda: 17,070,305
    - TOTAL (Local Currency): 3,374,671,940
    - Total after adjustment to include accrued interest: 3,518,355,700
  - Foreign Currency
    - (a) Short-term investments (up to 1 year) (9+10): 40,515,542
    - (c) Long-term investments (more than 5 years): 101,264,135
    - (e) Investments Outside Uganda: 557,906,957
    - TOTAL (Foreign Currency): 699,686,635
  - Total UGX'000 (Local + Foreign)
    - (a) Short-term investments (up to 1 year): 727,774,647
    - (b) Medium-term investments (above one year to 5 years): 1,175,063,091
    - (c) Long-term investments (more than 5 years): 1,700,948,223
    - (d) Mortgage finance: 39,279,111
    - (e) Investments Outside Uganda: 574,977,262
    - TOTAL: 4,218,042,334

### Appendix VI. A — Proposed New Reporting Forms for Private Pension Schemes (selected sample values)
- Form 6 (STATEMENT OF ASSETS AND LIABILITIES) sample numeric fields:
  - Total assets: 1110
  - Net assets: 1084
  - Total reserves: 1084
- Form 7 (DETAILS OF INVESTMENTS, OTHER ASSETS, AND ACCOUNTS PAYABLE) sample numeric entries:
  - Cash and cash equivalents — TOTAL: 9
  - Financial assets — TOTAL: 83
  - Commercial paper, corporate bonds, mortgage bonds, and asset backed securities — TOTAL: 33
  - Commercial banks and other deposit taking institutions — TOTAL: 12
  - Other financial corporations (non-deposit taking) — TOTAL: 13
  - Nonfinancial corporations — TOTAL: 18
  - Government securities in East African Community — TOTAL: 8
  - Shares in companies quoted in a stock exchange in East African Community — TOTAL: 13
  - Shares in collective investment schemes approved by the Capital Market Authority — TOTAL: 10
  - Private equity in the East African Community — TOTAL: 18
  - Immovable property in Uganda and related items — Uganda: 1000; TOTAL: 1009
  - Total Invested Assets 2/ — Uganda: 41; EAC(excl. Uganda): 1050; Other (Non-EAC): 10; TOTAL: 1101

*Source: IMF STA mission report (Executive Summary, January 12–22, 2015; cr17303).*

### Executive Summary ......................................................................................................

### Executive Summary

### Mission objectives and scope
- A monetary and financial statistics (MFS) mission from the IMF’s Statistics Department (STA) visited Kampala during January 12–22, 2015.
- Objective: review and map source data for savings and credit cooperatives (SACCOs) to the IMF’s Standardized Report Form (SRF) 2SR and other financial corporations (OFCs) to the SRF 4SR in line with the IMF’s Monetary and Financial Statistics Manual (MFSM).
- Outcomes: development of spreadsheets and bridge tables to map source data to SRF 2SR and SRF 4SR and identification of gaps in source data for certain OFC subsectors.

### Key findings — source data and mapping
- Source data for SACCOs, the National Social Security Fund (NSSF), and non deposit-taking microfinance institutions (NDTMFIs) were generally sufficient for mapping once various clarifications were provided.
- Source data for insurance corporations and private pension funds (excluding the NSSF) were not adequate; mission worked with Uganda Retirement Benefits Regulatory Authority (URBRA) and Insurance Regulatory Authority (IRA) to agree on modified reporting forms to include required breakdowns for mapping to SRF 4SR.
- Mapping approach:
  - One bridge table used to map SACCOs to SRF 2SR.
  - For SRF 4SR, separate bridge tables used for:
    1. insurance corporations;
    2. pension funds (including the NSSF and private pensions);
    3. other financial intermediaries (OFIs), which included only non deposit-taking microfinance institutions; and
    4. foreign exchange (FOREX) bureaus (financial auxiliaries).
  - Each mapping includes: input source-data tables, automatically calculated SRF 2SR or 4SR output forms, and a bridge table presenting mapping details.

### Institutional coverage and sectoral context
- Financial sector assets equal to 42 percent of GDP as of end-June 2014.
- OFC assets equaled just over nine percent of GDP, of which:
  - other financial intermediaries (excluding insurance corporations and pension funds) accounted for one percent,
  - insurance corporations and pension funds accounted for 8.8 percent (the NSSF accounted for 7.3 percent),
  - financial auxiliaries accounted for 0.2 percent.
- End-2014 ODC sector composition:
  - 25 commercial banks,
  - three credit institutions,
  - three deposit-taking microfinance institutions,
  - about 4,000 savings and credit cooperatives (SACCOs).
- Current SRF 2SR coverage: all ODCs except SACCOs (mission assisted to expand SRF 2SR to include SACCOs).

### Responsibilities and compilation
- Bank of Uganda (BOU) is solely responsible for compiling and disseminating monetary statistics; the Statistics Department (SD) and the Monetary Statistics and Data Dissemination Division (MSDDD) have operational responsibility.
- SACCOs: not supervised, no regulatory body, no harmonized reporting standard or standardized chart of accounts; reporting is voluntary and often minimal (call report forms, quarterly management accounts, audited annual reports).
- To address SACCO coverage, a data collection program implemented where the largest SACCOs (chosen to cover 70 percent of total deposits of the sector, accounting for potential noncompliance) report detailed data; at the time of the mission, 133 SACCOs met the 70 percent threshold.

### Reporting to IMF and publication
- Mission recommended BOU report the expanded SRF 2SR (including SACCOs) and the SRF 4SR for OFCs to STA for publication in International Financial Statistics (IFS) and to AFR for surveillance purposes.
- Mapping and spreadsheets developed during the mission were intended to support compilation and reporting.

### Benchmarks and timelines (benchmarks selected for evaluating effectiveness of technical assistance)
- Benchmark 1:
  - Review and begin using the spreadsheets developed during the mission to compile and report to STA the SRF 2SR for SACCOs and incorporate it in the SRF 2SR for ODCs, beginning with December 2014 data, by June 30, 2016.
- Benchmark 2:
  - Implement the modified report forms for other pension funds (pension schemes) and insurance corporations and begin compiling and reporting to STA quarterly SRF 4SR including insurance corporations, the NSSF, other pension funds, NDTMFIs, and FOREX bureaus, by September 30, 2017.

### Action plan — main recommendations
- Use the spreadsheets developed during the mission to compile and report monetary statistics for ODCs (including SACCOs) and for OFCs to the IMF for publication in IFS.
- Further improve the source data for ODCs and OFCs based on the MFSM methodology.
- Work with regulatory authorities (URBRA, IRA) to implement modified reporting forms for private pension schemes and insurance corporations to collect breakdowns needed for mapping.

### Project Framework Summary — selected outputs, targets, and dates
- Review and begin using spreadsheets to compile SRF 2SR for SACCOs beginning with December 2014 data; verifiable indicator: SRF 2SR for SACCOs compiled and incorporated beginning with December 2014 data; completion date: 12/31/2015.
- Review and begin using spreadsheets to compile SRF 4SR for NSSF, NDTMFIs, and FOREX bureaus beginning with June 2014 data; verifiable indicator: SRF 4SR available from June 2014; completion date: 12/31/2015.
- Submit to STA the expanded SRF 2SR including SACCOs beginning with December 2014 data; verifiable indicator: expanded SRF 2SR available for publication in IFS; completion date: 06/30/2016 (Benchmark Action).
- Submit to STA the SRF 4SR for the NSSF, NDTMFIs, and FOREX bureaus for eventual publication in IFS; verifiable indicator: SRF 4SR available for publication in IFS; completion date: 06/30/2016 (first submission should be made by 09/30/2015; note on confidentiality and publication timing related to insurance data).
- Implement modified report forms for other pension funds and insurance corporations; verifiable indicator: modified forms implemented and data available to BOU; completion date: 12/31/2016.
- Begin compiling quarterly SRF 4SR for other pension funds and insurance corporations from modified forms using spreadsheets; verifiable indicator: quarterly SRF 4SR compiled; completion date: 06/30/2017.
- Submit to STA the SRF 4SR for insurance corporations, the NSSF, other pension funds, NDTMFIs, and FOREX bureaus for publication in IFS; verifiable indicator: SRF 4SR for the OFC sector available for publication in IFS; completion date: 09/30/2017 (Benchmark Action).
- Work with Uganda Development Bank to collect additional breakdowns needed for mapping to SRF 4SR; verifiable indicator: source data adequate for MFSM-based compilation; completion date: 06/30/2017.

*Source: IMF STA mission report (Executive Summary, January 12–22, 2015).*

### 13.      The BOU would like to expand the coverage of SACCOs, but this would require that the

### 13.      The BOU would like to expand the coverage of SACCOs, but this would require that the

### Expansion of SACCO coverage and reporting logistics
- The BOU would need to visit individual SACCO offices to encourage and assist voluntary submission of the detailed reporting form, which imposes a cost on the SACCOs.
- Data collection frequency mismatch:
  - SACCO data are collected on a quarterly basis.
  - The ODC survey is reported monthly.
  - It is necessary to interpolate SACCO data in the ODC survey to account for the missing months.
  - Typical interpolation approach: repeat the data from the last month of the previous quarter for the next two months.
- Reporting lags:
  - SACCO data may be reported with a lag of several months relative to other SRF 2SR data.
  - Because SACCOs represent a small share of SRF 2SR, authorities were advised to carry forward the most recent SACCO data when submitting the SRF 2SR and then revise these data in later submissions when SACCO data become available.
- Communication and regulatory developments:
  - Communication between the BOU and SACCOs is facilitated by the Uganda Co-operative Savings and Credit Union (UCSCU).
  - A regulatory regime is being developed by the Government of Uganda in consultation with stakeholders, including BOU, at least for the larger SACCOs.
  - There is currently no deposit insurance; a main objective of the new regulatory regime is to introduce deposit insurance, perhaps by expanding the existing deposit insurance for banks.
- Extrapolation recommendation (example provided by the mission):
  - If reporting coverage is incomplete, extrapolate reported aggregates to estimate sector totals by dividing reported aggregates by the reporting coverage share.
  - Example: If reporting SACCOs account for 75 percent of total deposits and report an aggregate of 150 for an indicator, report 150/0.75 = 200 for the sector.

### Source data characteristics and mapping for SACCOs (SRF 2SR)
- Coverage of source forms:
  - The detailed report forms represent 70 percent of SACCO deposits.
  - The forms have limited breakdowns but, after clarifications, accurately reflect SACCO balance sheet positions and are adequate for mapping to the SRF 2SR.
- Asset side:
  - Majority of assets are loans with no sectoral or counterparty breakdown.
  - BOU officials indicated no breakdown is needed since all or the overwhelming majority of loans are to households.
  - There is a breakdown by final use of the loan (agriculture, manufacturing, etc) which was of limited use for mapping purposes.
- Liability side:
  - Most liabilities fall under deposits from households or owners’ equity.
  - No currency breakdown; except for one nonresident item (borrowing from nonresidents) SACCOs do not transact in foreign currency.
- Classification clarifications:
  - “Other deposits” in the reporting form were classified as other deposits (included in broad money) in the SRF because they require depositor presence to withdraw.
  - “Other liabilities” in the reporting form were classified as other deposits (included in broad money) by other residents because they include mainly safeguard deposits of nonmembers and building funds that cannot be easily withdrawn.
- Small items and data quality:
  - “Other borrowings” (liability) classified as loans from OFCs represent less than 1 percent of total assets and might require further sectoral breakdown verification.
  - Some inconsistencies were observed (e.g., deposits with other SACCOs on asset vs liability sides); authorities identified some mistakes to be corrected.
- Testing and validation:
  - Mapping to SRF 2SR tested using quarterly data: no irregularities observed and vertical check was zero for all periods.
  - Source data and mapping are presented in Appendix III.
- Recommendation:
  - The BOU should use the spreadsheets developed during the mission to compile the SRF 2SR for SACCOs and incorporate it in the SRF 2SR for the ODC sector by end-December 2015.

### Institutional and source-data coverage for Other Financial Corporations (OFCs) and mapping to SRF 4SR
- OFC sector composition in Uganda:
  - NSSF (by far the largest OFC), 600-800 private pension schemes, 21 insurance corporations (four life, remainder nonlife), Uganda Development Bank Ltd. (UDBL), 224 foreign exchange bureaus, over 400 non deposit-taking microfinance institutions (NDTMFIs), two leasing houses, and a stock exchange.
- Insurance sector:
  - Regulated by the Insurance Regulatory Authority of Uganda (IRA).
  - IRA collects annual audited accounts, but reporting is not harmonized and lacks sufficient detail for mapping to SRF 4SR.
  - IRA agreed to introduce new reporting forms (life and nonlife) supported by annexes providing breakdowns for specific line items; BOU and IRA agreed on a compromise set of annexes with several added sectoral breakdowns.
  - Mapping assumptions:
    - Nonlife insurance: assumed 50 percent households and 50 percent private nonfinancial corporations; BOU should work with the IRA to investigate and improve this split.
    - Life insurance: assumed all policy holders are households.
  - New insurance report forms and mapping are presented in Appendix IV. A and Appendix IV. B.
  - Recommendation: BOU should work with the IRA to implement the new report forms and annexes, begin reporting on a quarterly basis by end-December 2016, and start compiling SRF 4SR for insurance corporations to be incorporated into SRF 4SR for OFCs by June 2017.
- NSSF and private pension schemes:
  - NSSF provides detailed monthly data adequate for SRF 4SR mapping; most entries broken down by currency, instrument, and sector.
  - Small allocations made by the mission for minor items (e.g., mortgage finance allocated 80 percent to loans to private nonfinancial corporations and 20 percent to loans to other resident sectors).
  - Mapping tested with monthly data: no irregularities; vertical check zero for all periods. Source data and mapping in Appendix V.
  - Recommendation: BOU should use mission spreadsheets to compile SRF 4SR for the NSSF and incorporate it in SRF 4SR for the OFC sector by end-December 2015.
  - Private pension schemes: URBRA proposed new forms; mission proposed modifications (split cash and deposits, sectoral breakdowns for nongovernment securities, finer breakdowns for accounts payable). Modified forms mapped to SRF 4SR and presented in Appendix VI. A/B.
  - Recommendation: BOU should work with URBRA to implement modified forms, begin reporting quarterly by end-September 2016, and compile SRF 4SR for pension schemes to be incorporated into SRF 4SR for OFC sector by end-September 2016.
- NDTMFIs:
  - Larger NDTMFIs submit quarterly data to BOU; balance sheets are simple (compulsory deposits from member households and loans to member households); little FC denomination.
  - Compulsory deposits are restricted and not included in broad money.
  - Mapping tested with quarterly data: no irregularities; vertical check zero. Source data and mapping in Appendix VII.
  - Recommendation: BOU should use mission spreadsheets to compile SRF 4SR for NDTMFIs and incorporate into SRF 4SR for OFC sector by end-June 2015.
- FOREX bureaus:
  - Report quarterly; balance sheets mainly cash and deposits (assets) and directors’ loans, paid up capital, retained earnings, small loans (liabilities).
  - All deposits assumed transferable. “Directors’ loans” classified as loans from other resident sectors.
  - Unclear items: “debtors” (assets) and “creditors” (liabilities) classified as miscellaneous assets/liabilities; “other assets” represented over eight percent of total assets. Overall about 15 percent of the balance sheet classified as miscellaneous on both sides and would benefit from clarification.
  - Mapping tested with quarterly data: no irregularities; vertical check zero. Source data and mapping in Appendix VIII.
  - Recommendation: BOU should use mission spreadsheets to compile SRF 4SR for FOREX bureaus and incorporate into SRF 4SR for OFC sector by end-June 2015.
- UDBL:
  - Data provided but balance sheet small relative to OFC sector and lacks important breakdowns; decision made not to include UDBL data in SRF 4SR until additional breakdowns are collected.
- Electronic linkage and automation:
  - Reporting forms were electronically linked to SRF 2SR and SRF 4SR; when reporting forms are filled out in Excel, SRF spreadsheets will be automatically completed.

### Data reporting to IMF and operational recommendations
- Current reporting by BOU to IMF:
  - SRF 1SR for the central bank, SRF 2SR for ODCs, SRF 5SR for monetary aggregates, SRF 6SR for interest rates, and exchange rates for publication in IFS on a monthly basis.
  - Reports 35 financial soundness indicators (FSIs) for posting on the IMF’s FSI website: all 12 core FSIs, 12 of the 13 encouraged FSIs for deposit takers, and 11 of the 14 encouraged FSIs for other sectors.
- Use of mission tools:
  - Spreadsheets developed during the mission electronically link SRF 2SR and SRF 4SR to SACCO and OFC source data via bridge tables; filling reporting forms in Excel will automatically populate SRF spreadsheets.
  - The tool can be used to compile and report expanded SRF 2SR including SACCOs and the SRF 4SR for OFCs to STA for publication in IFS.
  - BOU compilers should be able to produce updated SRF 2SR and SRF 4SR and associated surveys as soon as source data are available.

*Source: cr17303 - 13.      The BOU would like to expand the coverage of SACCOs, but this would require that the*

### 51.      Recommendation: The BOU should submit the expanded SRF 2SR including SACCOs

### Recommendation: The BOU should submit the expanded SRF 2SR including SACCOs

### Submission requirements and timeline
- Recommendation: The BOU should submit the expanded SRF 2SR including SACCOs and the SRF 4SR for the NSSF, NDTMFIs, and FOREX bureaus by end-June 2016 to STA for eventual publication in IFS.
- Coverage requirements:
  - The expanded SRF 2SR should cover commercial banks, credit institutions, deposit-taking microfinance institutions, and SACCOs beginning with June 2014 data.
  - The SRF 4SR for the OFC sector as a whole including the NSSF, other pension funds, insurance corporations, NDTMFIs, and foreign exchange bureaus beginning with June 2014 data should be submitted to STA by end-June 2017.

### Rationale and expected outcome
- Expand institutional coverage of the ODC and OFC sectors to include SACCOs and broader OFC subsectors to improve completeness of monetary and financial statistics for reporting to the IMF (IFS).

### Recommendation action
- Submit:
  - Expanded SRF 2SR (including SACCOs) to STA by end-June 2016 (starting June 2014 data).
  - SRF 4SR for OFC sector (NSSF, other pension funds, insurance corporations, NDTMFIs, FOREX bureaus) to STA by end-June 2017 (starting June 2014 data).

---

### Training and technical assistance (MSDDD / BOU capacity)
- MSDDD staffing and training:
  - As of January 2015, the MSDDD had five staff who were assigned to work on MFS and other MFS-related work, three of whom have participated in training courses on monetary statistics that were conducted by STA.
  - The Assistant Director of the SD (who also heads the MSDDD) is directly involved in work on monetary statistics, and worked closely with the mission.
- Mission observations on capacity:
  - Relevant BOU officials were familiarized with the spreadsheets and data mappings produced by the mission.
  - The staff capacity is adequate.
  - The BOU staff are able to use the spreadsheets to compile monetary statistics for OFCs without further technical support.
  - The mission is of the view that the BOU already has adequate capacity without need for further technical assistance in monetary statistics as long as there is no need to further expand institutional coverage.
- Contingency for further assistance:
  - In the event that any need for further assistance arises this could be addressed through the DFID/IMF EDDI project.

---

### Project objectives, implementation status, and key milestones
- Objective: Adoption of internationally accepted methodologies and best practices as recommended by the IMF Monetary and Financial Statistics Manual (MFSM) and establishment of an Integrated Monetary Database (IMD).
- Verifiable indicators and achieved milestones (selected):
  - Standardized Report Forms (SRF) produced for central bank, ODC, and OFC sectors.
  - SRF 1SR (central bank):
    - Completion date: 06/30/2008.
    - Status: Form 1SR is produced on a regular basis and is used for reporting to the IMF. Data are regularly reported.
  - Central bank survey (CBS) based on Form 1SR:
    - Completion date: 06/30/2011.
    - Status: The CBS is now generated regularly from the 1SR data.
  - SRF 2SR for ODCs:
    - Dates: 09/30/2008 for historical data; 02/28/2010 for data based on the new reporting system.
    - Status: 2SR data for the period December 2001 to the present have been reported. 2SR based on new reporting system is regularly produced and reported to the IMF.
  - Expanded ODC survey to include credit institutions and microfinance deposit taking institutions:
    - Benchmark completion date: 07/31/2012.
    - Status: The ODCS is now produced including Credit Institutions and Microfinance deposit taking institutions.
  - Depository corporations survey (DCS) established using Forms 1SR and 2SR:
    - Dates: 09/30/2008 for historical data; 07/31/2012 for data based on new reporting system.
    - Status: A DCS is now generated using 1SR & 2SR data.
  - Methodology paper documenting sources and methods for compiling monetary statistics:
    - Benchmark completion date: 07/31/2012.
    - Status: Methodology paper was disseminated and note on changes in compilation of monetary statistics provided to users.
  - Harmonized monetary statistics for all East African Community (EAC) member countries:
    - Status: A reporting form with EAC positions broken down by individual EAC country was developed and pre-tested but not yet rolled out to all reporting institutions.
  - Expansion to incorporate SACCOs into the depository corporations survey:
    - Target: After 2014.
    - Status: Quarterly data collection for large SACCOs was initiated using Call Report Form from September 2011 but not yet included in the coverage of ODCS.
  - SRF 4SR for other financial corporations:
    - Target date: 12/31/2011.
    - Status: 4SR based on NSSF data is regularly produced but not disseminated. Data for 4SR has not been collected due to lack of harmonized reporting system. The regulatory authority is to introduce new quarterly regulatory reporting which would provide some useful and consistent data.
  - Integrated Monetary Database (IMD) for Uganda:
    - Target completion: 12/31/2011.
    - Status: IMD is operational for depository corporations (December 2011).

---

### SACCO consolidated quarterly statement of financial position (selected line items, Ushs. '000) — Dec-13
- Assets (Dec-13):
  - Cash in hand: 5,323,620.39
  - Deposits (total): 44,784,034.99
    - with Commercial Banks: 23,645,375.43
    - with MDIs: 20,587,680.24
    - with Credit Institutions: 176,450.32
    - with SACCOs: 3,549.30
    - Others Deposits: 370,979.70
  - Investments (total): 5,204,675.30
    - Treasury Bills: 366,908.50
    - Treasury Bonds: 400,000
    - Shares in unions: 302,012.74
    - Shares in Companies: 69,128.18
    - Shares in SACCOs: 36,784.52
    - Mobile Money: 781,737.02
    - Other investments: 3,248,104.34
  - Gross Loans: 214,190,092.19
  - Loan loss Reserves: 5,000,328.26
  - Net Outstanding Loans: 209,189,763.93
  - Fixed Assets: 23,317,808.99
    - Depreciation: 4,352,122.42
    - Net Assets (fixed): 18,965,686.57
  - Other Assets: 9,359,962.42
  - TOTAL ASSETS: 292,827,743.60

- Liabilities and equity (Dec-13):
  - Total Deposits: 155,890,651.76
    - Deposits by SACCOs: 663,186.21
    - Compulsory deposits: 6,483,693.20
    - Voluntary deposits: 148,743,772.34
      - Time deposits: 30,966,058.04
      - Fixed Deposits: 7,144,212.46
      - Sight Deposits: 106,150,651.12
      - Other deposits: 4,482,850.72
  - Total Borrowings: 9,785,704.77
    - From Commercial Banks: 78,369.04
    - From Credit Institutions: 118,147.28
    - From Other Financial Institutions: 566,004.53
    - From Government e.g., MSC: 5,994,858.50
    - From Non residents: 259,092.51
    - Other borrowings: 2,769,232.90
  - Administered funds: 889,136.76
  - Grants (total): 4,578,854.01
    - From Government: 537,774.18
    - From UCA: 106,841.76
    - From UCSCU: 817,001.58
    - From Non residents: 230,213.13
    - Other Grants: 2,887,023.35
  - Other Liabilities: 21,439,116.49
  - Total Liabilities: 192,583,463.78
  - Capital (total): 100,244,279.82
    - Members share capital: 65,039,586.09
    - Reserves: 16,274,967.86
    - Retained Surplus/Deficit: 18,929,725.87
  - TOTAL LIABILITIES (and equity): 292,827,743.60

---

### Proposed new reporting forms and annexes for insurance sector (structure highlights)
- Life Insurance Companies:
  - Consolidated Annual Balance Sheet headings include:
    - ASSETS: Cash and deposits in banks; Premiums receivable; Other receivables; Loans; Reinsurance shares on insurance liabilities and reserves; Investment in securities/equities, unquoted shares, statutory deposits; Investment in affiliates; Investment in properties; Property and Equipment; Intangible assets; Balances due from related parties; Reinsurance recoveries; Other assets; Total assets.
    - LIABILITIES: Outstanding claims; Unearned premium; IBNR provisions; Reinsurance payables; Borrowings/bank overdraft; Due to parent/affiliates company; Dividends payable; Tax payable; Payables under deposit administration; Other liabilities/payables; Life fund; Total liabilities.
    - CAPITAL AND RESERVES: Paid up capital; Share premiums; Retained earnings; Contingency reserves; Fair value reserves; Capital reserves; Other reserves; Total capital and reserves.
  - Annex Tables provide breakdowns by currency, instrument, and counterparty, including detailed schedules for:
    - Cash and deposits in banks (shillings vs foreign currency; breakdown by bank).
    - Other receivables (commissions receivable; other accounts receivable).
    - Loans (counterparty categories and percent of total).
    - Investment in securities/equities, unquoted shares, statutory deposits (market value, book value, acquisition cost).
    - Investment in affiliates (securities, shares).
    - Balances due from related parties (aging: current period, 0-365 days, over 365 days).
    - Other assets and borrowings/bank overdraft (breakdown by lender/counterparty).
    - Non loan due to parent/affiliates company and other liabilities/payables (detailed components and percent of total).
- Nonlife Insurance Companies:
  - Similar Consolidated Annual Balance Sheet structure and Annex Tables (with NA where applicable for managed funds / life fund).

*Source: cr17303 - 51.      Recommendation: The BOU should submit the expanded SRF 2SR including SACCOs (IMF, chapter content).*

### Annex Tables (Ushs. '000) (Enter data in the yellow cells)

### cr17303 - Annex Tables (Ushs. '000) (Enter data in the yellow cells)

### CASH AND DEPOSITS IN BANKS
- Currency breakdown (Shillings / Foreign currency (Shs. 000s) / Total (Shs. 000s) / Percent of total / Amount from previous period)
- In Ugandan shillings:
  - Cash: 4 4 8 22.9
- Demand deposits: 6 17 23 65.7 0
  - Nonresident: 7 7
  - Resident: 6 10 16 45.7 0
  - Bank 1: 1 8 9 25.7
  - Bank 2: 5 2 7 20.0
  - etc ... (add lines as needed) 0 0.0
- Other (time, savings, etc ...) deposits: 3 1 4 11.4 0
  - Nonresident: 0
  - Resident: 3 1 4 11.4 0
  - Bank 1: 1 1 2 5.7
  - Bank 2: 2 2 5.7
  - etc ... (add lines as needed) 0 0.0
- TOTAL: 13 22 35 100.0 0

### OTHER RECEIVABLES
- Current Period / Previous Period
  - Commissions receivable from insurers/reinsurers: 11 0
    - Residents: 8
    - Nonresidents: 3
  - Other accounts receivable (sundry letters, deferred payments, ...): 5
  - TOTAL: 27 0

### LOANS (EXCLUDING FROM RELATED PARTIES)
- Currency breakdown (Shillings / Foreign currency / Total / Percent of total / Amount from previous period)
  - Other financial corporations: 3 3 6 18.2
  - Public enterprises: 4 2 6 18.2
  - Companies/private enterprises: 1 5 6 18.2
  - Individuals/other residents: 6 9 15 45.5
- TOTAL: 14 19 33 100 0

### INVESTMENT IN SECURITIES/EQUITIES
- Market value / Book value / Acquisition cost (Shs. 000s) / Amount from Previous Period
- UNQUOTED SHARES, STATUTORY DEPOSITS (Number of shares / (Shs. 000s) / (Shs. 000s) / Previous Period)
  - Listed shares: 0 18 0 0 0
    - Commercial banks in Uganda: 2
    - Other financial corporations in Uganda: 7
    - Public enterprises: 4
    - Companies/private enterprises: 5
    - Nonresident companies:
  - Unlisted shares: 0 15 0 0 0
    - Commercial banks in Uganda: 4
    - Other financial corporations in Uganda: 6
    - Public enterprises: 5
    - Companies/private enterprises:
    - Nonresident companies:
  - Securities and statutory deposits: 0 15 0 0 0
    - Treasury bills: 6
    - Treasury bonds: 4
    - Commercial banks: 3
    - Other financial corporations: 2
    - Public entities:
    - Companies/private enterprises:
    - Nonresident companies:
- TOTAL: 0 48 0 0 0

### INVESTMENT IN AFFILIATES
- Securities / Shares / Total (Shs. 000s) / Percent of total / Amount from previous period
  - Commercial banks, MDIs, Credit Institutions: 3 3 6 30.0
  - Other Financial Corporations: 5 6 11 55.0
  - Companies/Private Enterprises: 0 0.0
  - Non Resident/Parent/Affiliate/Related Party: 1 2 3 15.0
- TOTAL: 9 11 20 100 0

### BALANCES DUE FROM RELATED PARTIES
- Current period / 0-365 days / Over 365 days / Total (Shs. 000s) / Percent of total / Amount from previous period
  - Other due from related parties: 11 11 11 33 39.3 0
    - Commercial banks, MDIs, Credit Institutions: 0 0.0
    - Other Financial Corporations: 5 5 5 15 17.9
    - Companies/Private Enterprises: 3 3 3 9 10.7
    - Non Resident/Parent/Affiliate/Related Party: 3 3 3 9 10.7
  - Premiums due from related insurers/reinsurers: 6 6 6 18 21.4 0
    - Resident: 2 2 2 6 7.1
    - Nonresident: 4 4 4 12 14.3
  - Other due from related parties: 11 11 11 33 39.3 0 (repeated block)
    - Commercial banks, MDIs, Credit Institutions: 0 0.0
    - Other Financial Corporations: 5 5 5 15 17.9
    - Companies/Private Enterprises: 3 3 3 9 10.7
    - Non Resident/Parent/Affiliate/Related Party: 3 3 3 9 10.7
- TOTAL: 28 28 28 84 100 0

### OTHER ASSETS
- Amount (Shs. 000s) / Percent of total / Amount from previous period
  - Other financial assets (not listed above): 2 18.2
  - Other fixed assets (not listed elsewhere): 5 45.5
  - Other nonfinancial assets (not used for insurance operations): 4 36.4
- TOTAL: 11 100 0

### BORROWINGS/BANK OVERDRAFT
- Shillings / Foreign currency / Total (in Shillings) / Percent of total / Amount from previous period
  - Commercial banks, MDIs, Credit Institutions: 9 4 13 25.5 0 0
    - Bank1: 6 6 11.8
    - Bank2: 3 4 7 13.7
    - etc ... (add lines as needed) 0 0.0
  - Parent/affiliates/related parties (nonbanks): 8 14 22 43.1 0 0
    - Other Financial Corporations: 4 5 9 17.6
    - Companies/Private Enterprises: 3 7 10 19.6
    - Nonresidents: 1 2 3 5.9
  - Other: 10 6 16 31.4 0 0
    - Other Financial Corporations: 4 4 7.8
    - Companies/Private Enterprises: 0 0.0
    - Nonresidents: 6 6 12 23.5
- TOTAL: 27 24 51 100 0 0

### DUE TO PARENT/AFFILIATES COMPANY (NON LOAN)
- Amount / Amount from previous period / Percent of total
  - Premiums due from related insurers/reinsurers: 2 2.4 0
    - Resident: 2 2.4
    - Nonresident: 0.0
  - Other due from related parties: 12 14.3 0
    - Commercial banks, MDIs, Credit Institutions: 0.0
    - Other Financial Corporations: 4 4.8
    - Companies/Private Enterprises: 5 6.0
    - Non Resident/Parent/Affiliate/Related Party: 3 3.6
- TOTAL: 14 16.7 0

### OTHER LIABILITIES/PAYABLES
- Amount (Shs. 000s) / Amount from previous period / Percent of total
  - Sundry creditors: 5 25.0
  - Provisions for loan losses: 4 20.0
  - Provisions for other losses: 3 15.0
  - Dividends payable: 5 25.0
  - Deferred Tax: 0.0
  - Other: 3 15.0
- TOTAL: 20 100 0

*cr17303 - Annex Tables (Ushs. '000) (Enter data in the yellow cells)*

### APPENDIX IV. B. SRF 4SR Mapping for Proposed New

### APPENDIX IV. B. SRF 4SR Mapping for Proposed New Reporting Forms and Annexes for Insurance Sector

### Life Insurance Companies — Consolidated Annual Balance Sheet (Ushs. '000)
- Reporting year: 2012
- Total assets: 209
- Key asset items:
  - Cash and deposits in banks 1/: 40
  - Premiums receivable: (not separately numbered in summary)
  - Other receivables 1/: 25
  - Loans 1/: 39
  - Reinsurance shares on insurance liabilities and reserves (Ins TR OFC NC A)
  - Investment in securities/equities, unquoted shares, statutory deposits 1/: 12
  - Investment in affiliates 1/: 39
  - Balances due from related parties 1/: 19
  - Reinsurance recoveries (Ins TR OFC NC A)
  - Other assets 1/: 35
- Total liabilities: 270
- Key liability items:
  - Outstanding claims (Ins TR HH Equity in Life Ins oRes NC L)
  - Unearned premium (Ins TR HH Equity in Life Ins oRes NC L)
  - IBNR provisions (Ins TR HH Equity in Life Ins oRes NC L)
  - Reinsurance payables (Tcred OFC NC L)
  - Borrowings/bank overdraft 1/: 130
  - Due to parent/affiliates company 1/: 86
  - Dividends payable (Dividends NC L)
  - Tax payable (Miscellaneous Res NC L)
  - Payables under deposit administration (Ins TR HH Equity in Pension oRes NC L)
  - Other liabilities/payables 1/: 54
  - Life fund (Ins TR HH Equity in Life Ins oRes NC L)
- Capital and reserves:
  - Other reserves: 3
  - Total capital and reserves: 3
- Note: 1/ See additional details in Annex Tables

### Life Insurance Companies — Annex Tables (Ushs. '000)
- Reporting year: 2012
- Cash and deposits in banks: 40
  - In Ugandan shillings: 10
    - Cash: 4
    - Demand deposits (Resident TDeps ODC NC A): 3
    - Other (time, savings, etc.,) deposits (Resident ODeps ODC NC A): 3
  - In foreign currency: 30
    - Cash: 4
    - Demand deposits (Resident TDeps ODC FC A): 3
    - Other (time, savings, etc.) deposits: 23
      - Resident ODeps ODC FC A: 23
- Other receivables: 25
  - Commissions receivable from insurers/reinsurers — Residents Tcred OFC NC A: 25
- Loans (excluding from related parties): 39
  - In Ugandan shillings: 18
    - Other financial corporations Loans OFC NC A: 3
    - Public enterprises Loans pNFC NC A: 4
    - Companies/private enterprises Loans oNFC NC A: 5
    - Individuals/other residents Loans oRes NC A: 6
  - In foreign currency: 21
    - Other financial corporations Loans OFC FC A: 3
    - Public enterprises Loans pNFC FC A: 4
    - Companies/private enterprises Loans oNFC FC A: 5
    - Individuals/other residents Loans oRes FC A: 9
- Investment in securities/equities, unquoted shares, statutory deposits: 12
  - Shares (listed and unlisted): 2
    - Commercial banks and other deposit taking institutions Shares ODC NC A: 2
  - Securities and statutory deposits: 6
    - Treasury bills and bonds Secs CG NC A: 6
- Investment in affiliates: 39
  - Securities: 34
    - Commercial banks, MDIs, Credit Institutions Secs ODC NC A: 33
    - Non Resident/Parent/Affiliate/Related Party Secs nRes FC A: 1
  - Shares: 5
    - Commercial banks, MDIs, Credit Institutions Shares ODC NC A: 3
    - Non Resident/Parent/Affiliate/Related Party Shares nRes FC A: 2
- Balances due from related parties: 19
  - Premiums due from related insurers/reinsurers: 9
    - Resident Tcred OFC NC A: 2
  - Other due from related parties:
    - Commercial banks, MDIs, Credit Institutions Tcred ODC NC A: 7
    - Companies/Private Enterprises Tcred oNFC NC A: 10
    - Non Resident/Parent/Affiliate/Related Party Tcred nRes FC A: 4
- Other assets: 35
  - Other financial assets: 5
  - Fixed assets: 6
  - Other Nonfinancial assets: 8

- Borrowings/bank overdraft: 130
  - In Ugandan shillings: 85
    - Commercial banks, MDIs, Credit Institutions Loans Other ODC NC L: 11
    - Other Financial Corporations Loans OFC NC L: 55
    - Companies/Private Enterprises Loans oNFC NC L: 3
    - Nonresidents Loans Other nRes NC L: 1
  - In foreign currency: 45
    - Commercial banks, MDIs, Credit Institutions Loans Other ODC FC L: 22
    - Other Financial Corporations Loans OFC FC L: 3
    - Companies/Private Enterprises Loans oNFC FC L: 7
    - Nonresidents Loans Other nRes FC L: 2
- Due to parent/affiliates company: 86
  - Premiums due to related insurers/reinsurers: 41
    - Resident Tcred OFC NC L: 8
    - Nonresident Tcred nRes FC L: 9
  - Other due from related parties:
    - Commercial banks, MDIs, Credit Institutions Tcred ODC NC L: 22
    - Companies/Private Enterprises Tcred oNFC NC L: 45
    - Non Resident/Parent/Affiliate/Related Party Tcred nRes FC L: 5
- Other liabilities/payables: 54
  - Settlement accounts: 29
  - Sundry creditors: 5
  - Provisions for loan losses: 8
  - Provisions for other losses: 9
  - Dividends payable: 2
  - Other: 5
- Revaluation/other reserves: 3
  - Revaluation (Shares and OE Valuation Adjustment NC L): 1
  - Other reserves (Shares and OE Reserves NC L): 2

### Nonlife Insurance Companies — Consolidated Annual Balance Sheet (Ushs. '000)
- Reporting year: 2012
- Total assets: 68
- Key asset items:
  - Cash and deposits in banks 1/: 20
  - Premiums receivable (SPLIT 50-50 hh and corps)
  - Other receivables 1/: - 
  - Loans 1/: 36
  - Reinsurance shares on insurance liabilities and reserves (Ins TR OFC NC A)
  - Investment in affiliates 1/: 3
  - Balances due from related parties 1/: 4
  - Other assets 1/: 5
- Total liabilities: 270
- Key liability items:
  - Outstanding claims (SPLIT 50-50 hh and corps NC L)
  - Unearned premium (SPLIT 50-50 hh and corps NC L)
  - IBNR provisions (SPLIT 50-50 hh and corps NC L)
  - Reinsurance payables (Tcred OFC NC L)
  - Borrowings/bank overdraft 1/: 130
  - Due to parent/affiliates company 1/: 86
  - Other liabilities/payables 1/: 54
- Capital and reserves:
  - Other reserves: 3
  - Total capital and reserves: 3
- Note: 1/ See additional details in Annex Tables

### Nonlife Insurance Companies — Annex Tables (Ushs. '000)
- Reporting year: 2012
- Cash and deposits in banks: 40 (annex repeats same breakdown as Life)
  - In Ugandan shillings: 10
    - Cash: 4
    - Demand deposits Resident TDeps ODC NC A: 3
    - Other (time, savings, etc ...) deposits Resident ODeps ODC NC A: 3
  - In foreign currency: 30
    - Cash: 4
    - Demand deposits Resident TDeps ODC FC A: 3
    - Other (time, savings, etc ...) deposits Resident ODeps ODC FC A: 23
- Other receivables: 25
  - Commissions receivable from insurers/reinsurers — Residents Tcred OFC NC A: 25
- Loans (excluding from related parties): 39
  - In Ugandan shillings: 18
    - Other financial corporations Loans OFC NC A: 3
    - Public enterprises Loans pNFC NC A: 4
    - Companies/private enterprises Loans oNFC NC A: 5
    - Individuals/other residents Loans oRes NC A: 6
  - In foreign currency: 21
    - Other financial corporations Loans OFC FC A: 3
    - Public enterprises Loans pNFC FC A: 4
    - Companies/private enterprises Loans oNFC FC A: 5
    - Individuals/other residents Loans oRes FC A: 9
- Investment in securities/equities, unquoted shares, statutory deposits: 12
  - Shares (listed and unlisted): 2 (Commercial banks and other deposit taking institutions Shares ODC NC A: 2)
  - Securities and statutory deposits: 6 (Treasury bills and bonds Secs CG NC A: 6)
- Investment in affiliates: 39
  - Securities: 34 (Commercial banks, MDIs, Credit Institutions Secs ODC NC A: 33; Non Resident/Parent/Affiliate/Related Party Secs nRes FC A: 1)
  - Shares: 5 (Commercial banks, MDIs, Credit Institutions Shares ODC NC A: 3; Non Resident/Parent/Affiliate/Related Party Shares nRes FC A: 2)
- Balances due from related parties: 19
  - Premiums due from related insurers/reinsurers: 9 (Resident Tcred OFC NC A: 2)
  - Other due from related parties:
    - Commercial banks, MDIs, Credit Institutions Tcred ODC NC A: 7
    - Companies/Private Enterprises Tcred oNFC NC A: 10
    - Non Resident/Parent/Affiliate/Related Party Tcred nRes FC A: 4
- Other assets: 35
  - Other financial assets: 5
  - Fixed assets: 6
  - Other Nonfinancial assets: 8
- Borrowings/bank overdraft: 130
  - In Ugandan shillings: 85
    - Commercial banks, MDIs, Credit Institutions Loans Other ODC NC L: 11
    - Other Financial Corporations Loans OFC NC L: 55
    - Companies/Private Enterprises Loans oNFC NC L: 3
    - Nonresidents Loans Other nRes NC L: 1
  - In foreign currency: 45
    - Commercial banks, MDIs, Credit Institutions Loans Other ODC FC L: 22
    - Other Financial Corporations Loans OFC FC L: 3
    - Companies/Private Enterprises Loans oNFC FC L: 7
    - Nonresidents Loans Other nRes FC L: 2
- Due to parent/affiliates company: 86
  - Premiums due from related insurers/reinsurers: 41
    - Resident Tcred OFC NC L: 8
    - Nonresident Tcred nRes FC L: 9
  - Other due from related parties:
    - Commercial banks, MDIs, Credit Institutions Tcred ODC NC L: 22
    - Companies/Private Enterprises Tcred oNFC NC L: 45
    - Non Resident/Parent/Affiliate/Related Party Tcred nRes FC L: 5
- Other liabilities/payables: 54
  - Settlement accounts: 29
  - Sundry creditors: 5
  - Provisions for loan losses: 8
  - Provisions for other losses: 9
  - Dividends payable: 2
  - Other: 5
- Revaluation/other reserves: 3
  - Revaluation (Shares and OE Valuation Adjustment NC L): 1
  - Other reserves (Shares and OE Reserves NC L): 2

*Source: cr17303 - APPENDIX IV. B. SRF 4SR Mapping for Proposed New*

### APPENDIX V. NSSF Balance Sheet with Mapping

### APPENDIX V. NSSF Balance Sheet with Mapping

### Key totals (aggregate)
- TOTAL ASSETS: 4,274,015,643
- TOTAL LIABILITIES: 4,274,015,643
- Vertical check: - 0

### Assets — National Currency (UGX '000)
- CASH: 98,395
- DEPOSITS (Lines 3 and 10): 729,154,945
  - TRANSFERABLE DEPOSITS (Lines 4–9): 1,380,298
    - Commercial banks in Uganda: 1,380,298
  - OTHER DEPOSITS (Lines 11–16): 727,774,647
    - Commercial banks in Uganda: 727,774,647
- SECURITIES HELD (Lines 18 and 21): 2,640,591,027
  - CENTRAL GOVERNMENT SECURITIES (Lines 19 and 20): 1,938,458,839
    - Treasury Bonds: 1,938,458,839
  - OTHER SECURITIES (NON-CENTRAL GOVERNMENT SECURITIES): 702,132,188
    - Commercial Banks in Uganda: 50,691,470
    - Private Enterprises: 76,463,455
    - Non-Resident Banks: 17,070,305
    - Other Non-Residents: 557,906,957
- OTHER INVESTMENTS (Lines 32 and 33): 463,218,385
  - Mortgage Finance: 39,279,111
  - Property Investments: 423,939,273
- LOANS (Lines 35–44): 21,001,970
  - Private Enterprises: 17,476,326
  - Other Residents: 3,525,644
- SHARES AND EQUITY (Lines 46–53): 386,458,276
  - Commercial banks in Uganda: 108,435,346
  - Other Financial Institutions in Uganda: 68,233,491
  - Non-Financial Public Enterprises in Uganda: 103,102,291
  - Private Enterprises: 5,423,012
  - Non-Resident Banks: 3,786,599
  - Other Non-Residents: 97,477,536
- FIXED ASSETS (Lines 56–60): 39,546,976
  - Land and Premises: 400,000
  - Furniture and Equipment: 16,662,264
  - Intangible Assets e.g., computer software: 18,891,757
  - Motor Vehicle & Other Fixed Assets: 3,592,955
  - Accumulated depreciation: 28,174,309 (listed as NC, Liability)
  - NET FIXED ASSETS (Lines 55 less 61): 11,372,667
- OTHER ACCOUNTS RECEIVABLE (Lines 64 and 65): 22,119,979
  - Dividends Receivable: 7,319,213
  - Miscellaneous Asset Items: 14,800,766
- TOTAL ASSETS (National Currency components aggregated above): included in TOTAL ASSETS: 4,274,015,643

### Assets — Foreign Currency (UGX '000)
- CASH: -
- DEPOSITS (Lines 3 and 10): 41,289,840
  - TRANSFERABLE DEPOSITS: 774,298
    - Commercial banks in Uganda: 774,298
  - OTHER DEPOSITS: 40,515,542
    - Commercial banks in Uganda: 40,515,542
- SECURITIES HELD (Lines 18 and 21): 557,906,957
  - CENTRAL GOVERNMENT SECURITIES: -
  - OTHER SECURITIES (NON-CENTRAL GOVERNMENT SECURITIES): 557,906,957
    - Other Non-Residents: 557,906,957
- OTHER INVESTMENTS: -
- LOANS: -
- SHARES AND EQUITY: 101,264,135
  - Non-Resident Banks: 3,786,599
  - Other Non-Residents: 97,477,536
- FIXED ASSETS: -
- OTHER ACCOUNTS RECEIVABLE: 3,154,720
  - Miscellaneous Asset Items: 3,154,720
- TOTAL ASSETS (Foreign Currency components): 703,615,653

### Liabilities — National Currency (UGX '000)
- SECURITIES ISSUED: (no amounts listed by category)
- BORROWINGS: -
- NET EQUITY OF HOUSEHOLDS IN PENSION FUNDS (Lines 92, 94–97 less 93): 4,193,915,048
  - Opening members' fund: 3,283,822,194
  - Benefits paid: 157,421,891
  - Contributions: 598,719,578
  - Interest due on contributions: 328,065,894
  - Surplus/(Deficit) Account: 91,506,842
  - Reserve Account: 49,222,431
- OTHER ACCOUNTS PAYABLE (Lines 100 and 101): 41,422,347
  - TRADE CREDIT AND ADVANCES: 1,333,772
  - OTHER ACCOUNTS PAYABLE OTHER: 40,088,575
    - Settlement Accounts: 1,574,338
    - Provisions for Bad Debts: 21,632,795
    - Miscellaneous Liability Items: 13,523,290
    - General Provisions: 3,358,152
- CURRENT YEAR PROFIT /LOSS (Lines 110–112): 27,966,991
  - Revenue for Current Year: 475,227,988
  - Expenditure for Current Year: -119,195,103
  - Interest to Members expenses: -328,065,894
- TOTAL LIABILITIES (National Currency components): included in TOTAL LIABILITIES: 4,263,304,387

### Liabilities — Foreign Currency (UGX '000)
- SECURITIES ISSUED: (no amounts listed by category)
- BORROWINGS: -
- NET EQUITY OF HOUSEHOLDS IN PENSION FUNDS: -
- OTHER ACCOUNTS PAYABLE: 10,711,257
  - OTHER ACCOUNTS PAYABLE OTHER: 10,711,257
    - Miscellaneous Liability Items: 10,711,257
- CURRENT YEAR PROFIT /LOSS: -
- TOTAL LIABILITIES (Foreign Currency components): 10,711,257

### Liabilities — Total (NC + FC)
- NET EQUITY OF HOUSEHOLDS IN PENSION FUNDS (total): 4,193,915,048
  - Opening members' fund: 3,283,822,194
  - Benefits paid: 157,421,891
  - Contributions: 598,719,578
  - Interest due on contributions: 328,065,894
  - Surplus/(Deficit) Account: 91,506,842
  - Reserve Account: 49,222,431
- OTHER ACCOUNTS PAYABLE (total): 52,133,604
  - TRADE CREDIT AND ADVANCES: 1,333,772
  - OTHER ACCOUNTS PAYABLE OTHER: 50,799,832
    - Settlement Accounts: 1,574,338
    - Provisions for Bad Debts: 21,632,795
    - Miscellaneous Liability Items: 24,234,547
    - General Provisions: 3,358,152
- CURRENT YEAR PROFIT /LOSS (total): 27,966,991
- Revenue for Current Year (total): 475,227,988
- Expenditure for Current Year (total): -119,195,103
- Interest to Members expenses (total): -328,065,894
- TOTAL LIABILITIES: 4,274,015,643

### Investment maturity profile and allocations (UGX '000)
- Local Currency
  - (a) Short-term investments (up to 1 year) (9+10): 687,259,105
    - Fixed deposits with banks and financial institutions: 687,259,105
  - (b) Medium-term investments (above one year to 5 years) (12+13+14): 1,175,063,091
    - Government Treasury Bonds: 1,175,063,091
  - (c) Long-term investments (more than 5 years) (16+17+18+19+20): 1,599,684,088
    - Government Treasury Bonds: 763,395,748
    - Bonds issued by Financial institutions: 50,691,470
    - Bonds issued by other institutions: 76,463,455
    - Shares, stocks and Equity: 285,194,141
    - Property Investments: 423,939,273
  - (d) Mortgage finance: 39,279,111
  - (e) Investments Outside Uganda: 17,070,305
  - TOTAL (Local Currency): 3,374,671,940
  - Total after adjustment to include accrued interest: 3,518,355,700
- Foreign Currency
  - (a) Short-term investments (up to 1 year) (9+10): 40,515,542
    - Fixed deposits with banks and financial institutions: 40,515,542
  - (c) Long-term investments (more than 5 years) (16+17+18+19+20): 101,264,135
    - Shares, stocks and Equity: 101,264,135
  - (e) Investments Outside Uganda: 557,906,957
  - TOTAL (Foreign Currency): 699,686,635
- Total UGX'000 (Local + Foreign)
  - (a) Short-term investments (up to 1 year): 727,774,647
    - Fixed deposits with banks and financial institutions: 727,774,647
  - (b) Medium-term investments (above one year to 5 years): 1,175,063,091
    - Government Treasury Bonds: 1,175,063,091
  - (c) Long-term investments (more than 5 years): 1,700,948,223
    - Government Treasury Bonds: 763,395,748
    - Bonds issued by Financial institutions: 50,691,470
    - Bonds issued by other institutions: 76,463,455
    - Shares, stocks and Equity: 386,458,276
    - Property Investments: 423,939,273
  - (d) Mortgage finance: 39,279,111
  - (e) Investments Outside Uganda: 574,977,262
  - TOTAL: 4,218,042,334
  - Vertical check: -

*Source: APPENDIX V. NSSF Balance Sheet with Mapping (cr17303)*

### APPENDIX VI. A. Proposed New Reportin

### APPENDIX VI. A. Proposed New Reporting Forms for Private Pension Schemes

### Overview of reporting forms
- Form 6 -- STATEMENT OF ASSETS AND LIABILITIES (UGX`000): layout captures assets, liabilities, net assets, and reserves for year-ended reporting. Key numeric fields in the sample:
  - Total assets: 1110
  - Net assets: 1084
  - Total reserves: 1084
- Form 7 -- DETAILS OF INVESTMENTS, OTHER ASSETS, AND ACCOUNTS PAYABLE: provides detailed invested asset allocation by geography (Uganda; EAC (excl. Uganda); Other (Non-EAC); TOTAL) and breakdowns of other assets and liabilities. Form 7 links to Form 6 (dark blue cells).

### Key asset categories (as presented)
- Investment property 1/
- Plant and equipment
- Financial assets 1/
- Pension contributions and other related receivables
- Cash and cash equivalents 1/
- Other assets 1/
- Total assets (linked to Form 7 breakdowns)

### Key liability and reserves categories (as presented)
- Accounts payable 1/
- Net assets
- Member accounts/reserves
- Reserve 1
- Reserve 2
- Reserve 3
- Total reserves

### Invested asset allocation (sample numeric entries from Form 7)
- Cash and cash equivalents — TOTAL: 9
- Financial assets — TOTAL: 83
- Commercial paper, corporate bonds, mortgage bonds, and asset backed securities approved by the Capital Market Authority — TOTAL: 33
- Commercial banks and other deposit taking institutions — TOTAL: 12
- Other financial corporations (non-deposit taking) — TOTAL: 13
- Nonfinancial corporations — TOTAL: 18
- Government securities in East African Community — TOTAL: 8
- Shares in companies quoted in a stock exchange in East African Community — TOTAL: 13
- Shares in collective investment schemes approved by the Capital Market Authority — TOTAL: 10
- Private equity in the East African Community — TOTAL: 18
- Immovable property in Uganda, real estate investment trusts, property unit trust approved by the Capital Market Authority, and other invested nonfinancial assets 1/ — Uganda: 1000; TOTAL: 1009
- Total Invested Assets 2/ — Uganda: 41; EAC(excl. Uganda): 1050; Other (Non-EAC): 10; TOTAL: 1101

Notes linked to numbering in forms:
- 1/ Input from form 7.
- 2/ In Form 6 this should be equal to the sum of total assets minus plant and equipment, contributions and other receivables, and other assets.

### Other assets and liabilities detail (sample)
- Other assets:
  - Miscellaneous financial assets (not invested)
  - Other nonfinancial assets (excluding plant and equipment)
- Liabilities (sample line-items):
  - Accounts payable 1/
  - Settlement accounts
  - Provisions for losses on investments
  - Provisions for other losses
  - Other

### SRF/sectoral mapping highlights (Appendix VI. B)
- Form 6 and Form 7 mapped to SRF codes and institutional/sectoral counterparts:
  - Investment property, plant and equipment shown as Nonfinancial Fixed Assets (NC, Asset)
  - Contributions and other receivables mapped to Tcred / oRes (NC, Asset)
  - Cash and cash equivalents mapped to Cur/NC (Asset) and to Cur/FC where applicable
  - Financial assets and their subcomponents mapped to Secs, Shares, etc., with counterparties specified (e.g., CG, ODC, OFC, oNFC, nRes)
  - Member accounts/reserves and reserves mapped to Ins TR / HH Equity in Pension / oRes (NC, Liability)
  - Accounts payable and settlement accounts mapped to Settlement / oRes (NC, Liability)
- Mapping specifies whether balances are in National currency (NC) or Foreign currency (FC) and whether items are Assets (A) or Liabilities (L).
- Footnote: “See Form 7 for breakdowns.”

### Practical reporting and reconciliation guidance (implied by form links)
- Dark blue cells in Form 7 are linked to the footnoted rows in Form 6; data consistency must be maintained between forms.
- Total Invested Assets in Form 7 should reconcile with the corresponding total in Form 6 after excluding plant and equipment, contributions and receivables, and other assets.

*Source: APPENDIX VI. A. Proposed New Reporting Forms for Private Pension Schemes (Form 6 and Form 7) and APPENDIX VI. B. SRF mapping as provided in the source PDF.*

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_Source: https://www.imf.org/-/media/files/publications/cr/2017/cr17303.pdf_