## 1. Overall Implementation Status and Progress for the DGI-2 Recommendations

## Source details

**Canonical URL:** [1. Overall Implementation Status and Progress for the DGI-2 Recommendations](https://www.imf.org/-/media/files/research/imf-and-g20/2021/g20-data-gaps-initiative-dgi-2-sixth-progress-report.pdf)

## Other formats

- [Markdown version](/-/media/files/research/imf-and-g20/2021/g20-data-gaps-initiative-dgi-2-sixth-progress-report.pdf.md)
- [Structured JSON version](/-/media/files/research/imf-and-g20/2021/g20-data-gaps-initiative-dgi-2-sixth-progress-report.pdf.json)

---

### Key messages
- 2021 is the final year of the second phase of the Data Gaps Initiative (DGI-2) and the twelfth year since the G20 FMCBG endorsed the twenty recommendations.
- Despite the COVID-19 pandemic, significant progress has been made in strengthening data collection for monitoring and policy responses; however, the pandemic slowed implementation and may prevent full completion of some recommendations by end-2021.
- The initiative’s value was demonstrated during the COVID-19 crisis by improving policymakers’ access to information on financial and nonfinancial sectors, interconnectedness, and cross-border spillovers.
- Four main statistical and data priorities identified for a possible new post-2021 initiative: (i) climate change; (ii) household distributional information; (iii) Fintech and financial inclusion data; and (iv) access to private sources of data and administrative data, and data sharing.
- Participating economies and international organizations have started developing a detailed workplan for a new initiative to be developed beyond 2021.

### Introduction (purpose, scope, and structure of the report)
- Accurate and timely data are critical to policymakers and market participants for understanding risks and designing responses.
- Participating economies have been implementing DGI recommendations since October 2009; DGI-2 concludes at the end of 2021.
- The Sixth Progress Report covers:
  - progress since the end of 2020;
  - remaining work to complete recommendations through December 2021;
  - a possible new DGI beyond 2021.
- Report structure:
  - Section II: outcomes of 2020-21 work program and progress on DGI-2 recommendations.
  - Section III: remaining work to complete DGI-2 by December 2021.
  - Section IV: overview of a possible new data gaps initiative.
  - Annexes: progress on common priority recommendations, status of implementation at mid-2021 for G20 and selected non-G20 FSB economies.

### Progress since October 2020 in light of the continued COVID-19 pandemic
- The pandemic continued to disrupt the DGI-2 workplan in 2020-21; many activities moved to virtual formats.
- Virtual events held since October 2020 included:
  - Four virtual seminars on Financial Soundness Indicators (FSIs) (Recommendation II.2) organized by IMF staff from January to March 2021, familiarizing participants with the IMF 2019 FSI Compilation Guide and focusing on deposit-taking corporations.
  - A virtual workshop on securities statistics (Recommendation II.7) in October 2020 organized by BIS, ECB, and IMF staff; participants confirmed self-commitments for 2021 reporting objectives.
  - A virtual seminar on securities statistics (Recommendation II.7) in March 2021 organized by ECB, BIS, and IMF staff with IMF-Singapore Training Institute introducing the 2015 Handbook on Securities Statistics.
  - A virtual workshop on the IIP (Recommendation II.10) in March 2021 on currency composition of the IIP; several economies plan to start reporting currency composition data by end of 2021.
  - A virtual workshop on promotion of data sharing (Recommendation II.20) in March 2021 organized by IMF, Eurostat, and Deutsche Bundesbank; participants agreed to follow-up work on an international micro data standard and documentation of good practices covering: (i) benefits of data sharing; (ii) assurance of privacy and cybersecurity; (iii) tools to facilitate use of micro data; (iv) legal issues relating to exchange of confidential information; and (v) cooperation with public and private data holders.
- The IAG held frequent videoconferences and the DGI Global Conferences were held virtually on January 19, 2021 and on June 10, 2021, enabling experience sharing and peer learning.
- Monitoring of implementation included, for the first time in this progress report, the status of global SFT data collection (Recommendation II.5).

### Overall progress and notable implementation outcomes (high-level findings)
- Significant improvements during DGI phases 1 and 2 in conceptual frameworks, coverage, timeliness, or periodicity for:
  - Financial Soundness Indicators (FSIs).
  - Global systemically important financial institutions (G-SIBs) and global systemically important insurers (G-SIIs).
  - Non-bank financial intermediation.
  - Derivatives data.
  - Securities statistics.
  - International investment position (IIP).
  - Coordinated Direct Investment Survey (CDIS).
  - Coordinated Portfolio Investment Survey (CPIS).
  - Residential and Commercial Property Price Indices (RPPI and CPPI).
- The peer pressure mechanism, regular monitoring, thematic workshops, seminars, and virtual Global Conferences supported implementation despite pandemic constraints.
- Remaining challenges and slower progress observed particularly for:
  - Securities financing transaction (SFT) data (Recommendation II.5).
  - Institutional sectoral accounts (Recommendation II.8).
  - Household distributional information (Recommendation II.9).
  - Data on general government debt and operations (Recommendations II.15 and II.16).
  - Commercial Property Price Index (CPPI) (Recommendation II.18).
- Work is underway to develop a detailed workplan for a new initiative beyond the end of DGI-2 in 2021.

### Highlights from the monitoring dashboard and status by recommendation (selected exact findings)
- FSIs:
  - All G-20 economies report at least six FSIs (except RPPI), with 16 economies reporting all seven (one economy reports RPPI with a long lag).
  - All, except three, meet SDDS Plus periodicity and timeliness requirements for the six FSIs.
  - The IMF 2019 Financial Soundness Indicators Compilation Guide was published in December 2019.
- Concentration and Distribution Measures (CDMs, #II.3):
  - FSI compilers supported CDM collection; guidance incorporated in revised FSI Guide.
  - An IMF CDM compilation tool was posted on the FSI website in December 2019.
  - Collection of CDM data is expected to start by end-2021 in the context of implementing the 2019 FSI Guide.
- G-SIBs and G-SIIs:
  - G-SIBs Phase 3 data reporting has started in all jurisdictions.
  - Action plan for G-SIIs postponed in light of the new IAIS holistic framework on systemic risk in the insurance sector.
- Non-bank financial intermediation (#II.5):
  - FSB is conducting annual global monitoring exercises on non-bank financial intermediation.
  - Technical and governance work for global SFT data collection and aggregation has been completed. Reporting of aggregated national data has started.
- Derivatives and trade reporting:
  - All G20 economies participated in the 2019 Triennial Surveys, including reporting new data on CCPs.
  - Work completed in 2018 on UTI/UPI technical guidance; implementation expected by Q3 2022.
  - Work completed in 2019 on UTI/UPI governance.
  - Economies are taking actions on barriers to OTC derivatives trade data reporting.
- Securities statistics (#II.7):
  - All G20 economies provided self-commitments.
  - All G20 economies (except for one) fully or mostly implemented the self-commitments for the 2018 intermediate target; some economies implemented additional series.
- Sectoral accounts (#II.8):
  - Further progress needed, especially regarding quarterly non-financial accounts transactions which are not reported by half of the G20 economies.
  - 16 G20 economies report all or part of the target series for annual non-financial accounts transactions.
  - 10 G20 economies report all or part of the target series for quarterly non-financial accounts transactions.
  - 12 G20 economies report all or part of the target series for annual stocks of non-financial assets.
  - 16 G20 economies report all or part of the target series for annual financial accounts and balance sheets.
  - 13 G20 economies report all or part of the target series for quarterly financial accounts and balance sheets.
- Household distributional information (#II.9):
  - Sources and compilation methods developed for non-financial accounts transactions; first experimental estimates published by Eurostat and the OECD for a range of countries.
  - Sources and methods under development for financial transactions and balance sheets.
- International Investment Position (#II.10):
  - 20 G20 economies report quarterly data on a BPM6 basis.
  - 17 G20 economies identify OFCs.
  - 8 G20 economies are reporting the currency composition data and several economies plan to start reporting data by the end of 2021.
- International Banking Statistics (#II.11):
  - 18 G20 economies report the locational banking statistics (only AR does not report).
  - 13 G20 economies report the agreed enhancements.
  - 13 G20 economies report consolidated banking statistics; 10 fully report the agreed enhancements.
- CPIS (#II.12) and CDIS (#II.13):
  - All G20 countries report core CPIS data on a semi-annual basis except for one which reports annually.
  - 16 G20 economies report the sector of holder table.
  - 18 G20 economies report inward data (one provides only equity).
  - 18 G20 economies report outward data (16 with net equity and net debt split). Two economies can only provide equity data.
  - 13 G20 economies report NFC sector in LBS.
  - 12 G20 economies (including the EU) report data for OFCs, eight via the SRF 4SR and four via the ECB. Of the remaining G20 economies, 1 reports with incomplete coverage.
- Government finance and public debt (#II.15 and #II.16):
  - 15 G20 economies report annual general government data based on GFSM 2014.
  - 12 G20 economies report quarterly general government data.
  - 2 economies report budgetary central government debt; 16 economies report central government debt; 12 G20 economies report general government debt. Progress has been made to broaden instrument and sectoral coverage.
- Property price indices (#II.17 and #II.18):
  - At least one RPPI is available for 19 G20 economies.
  - Progress on methodological issues affecting RPPI comparability is being made.
  - Template for internationally comparable RPPI data and related housing indicators endorsed.
  - 10 G20 economies report CPPI data.
  - Publication: “Commercial Property Price Indicators: Sources, Methods and Issues” published in December 2017 by Eurostat.
  - Eurostat launched Task Force on Commercial Real Estate Indicators in 2018.
  - No harmonized methodological framework nor detailed methodological guidance available yet for CPPI; action plan still to be elaborated.
- International data cooperation and promotion of data sharing (#II.19 and #II.20):
  - Regular exchange of GDP, population, employment, and sectoral accounts data is in progress. Implementation for Balance of payments data exchange is ongoing.
  - IAG IDC Steering Group and SDMX-Macro Economic Statistics (MES) Ownership Group merged into new MES Ownership Group.
  - A virtual workshop on promotion of data sharing was held in March 2021 and a questionnaire on Data Sharing was completed with results shared based on thematic workshop recommendations.

### Remaining work towards completing DGI-2 recommendations (selected priorities and likely shortfalls)
- Given the limited time to end-2021, it is very likely that some recommendations will not be fully completed by the end of 2021.
- Key areas with remaining work:
  - Collection and reporting of national aggregates of SFTs (Recommendation II.5).
  - Compilation and dissemination of institutional sectoral accounts (Recommendation II.8), notably quarterly non-financial accounts transactions where half of G20 economies do not yet report.
  - Compilation and dissemination of household distributional information (Recommendation II.9) for financial transactions and balance sheets (sources and methods still under development).
  - Reporting complete quarterly general government debt and operations (Recommendation II.16).
  - Reporting CPPI and elaborating a harmonized methodological framework with a detailed action plan (Recommendation II.18).
- Workstreams broadly categorized in the monitoring dashboard:
  - Fully or nearly completed workstream.
  - Significant progress made, workstream broadly on track.
  - Early stage of implementation or lack of timely progress.

---

### 10. Participating economies continue to take forward the agreed DGI-2

### Progress and monitoring
- Participating economies and international organizations will continue to monitor progress to successfully conclude the targets under the twenty DGI-2 recommendations by the end of 2021.
- The final status of each DGI-2 recommendation will be carefully assessed as of the end of December 2021 and included in the Final Report.
- The IMF staff and the FSB Secretariat will report the assessment, as well as the way forward for recommendations where work remains unfinished for certain targets and jurisdictions, to the G20 FMCBG in the Final Report in early 2022.

### Planned workshops and events (remainder of 2021)
- A workshop on SFT data collection and aggregation is planned to be organized by the BIS and the FSB in late 2021 (Recommendation II.5).
- The Bank of Italy is planning to host a workshop on distributional financial accounts in early November 2021, along with the Italian National Institute of Statistics, Eurostat, ECB and the Organisation for Economic Co-operation and Development (OECD) (Recommendation II.9).
- A closing Global Conference is planned for the remainder of 2021.
- Other workshops originally planned for 2021 were postponed due to the COVID-19 pandemic.

### Implementation challenges and likely incomplete targets by end-2021
- It is very likely that in some economies a number of recommendations will not be completed by the end of 2021.
- Specific recommendations and targets where many participating economies face significant implementation challenges:
  - Recommendation II.5: reporting of aggregated national data on SFTs.
  - Recommendation II.8: dissemination of institutional sectoral accounts.
  - Recommendation II.9: reporting of household distributional information.
  - Recommendation II.16: reporting complete quarterly general government debt and operations.
  - Recommendation II.18: reporting of CPPI.
- Additional areas where gaps are likely to remain for several jurisdictions:
  - Recommendation II.7: certain targets for securities statistics.
  - Recommendation II.10: currency breakdown of IIP.
  - Recommendation II.11: IBS.
  - Recommendation II.14: cross-border exposures of non-bank corporations.
  - Recommendation II.15: government finance statistics.
  - Recommendation II.17: RPPI.
- Causes of delays:
  - Initial effort needed to develop methodology and reporting templates.
  - Delays in the underlying legislative process.
  - Delays in planned workshops due to the pandemic.
  - Participating economies shifting resources to other priorities, especially in light of the pandemic.

### Follow-up monitoring and support after end-2021
- International organizations will continue to provide guidance, support or consultation on remaining DGI-2 recommendations even after the close of the DGI-2 at the end of 2021.
- IMF staff and the FSB Secretariat, along with the IAG, have begun to identify monitoring processes for addressing gaps that may remain after 2021.
- Many follow-up monitoring efforts will be covered by regular data collection processes and technical assistance activities.
- Lead agencies will continue to work with participating economies to improve coverage, quality, and timeliness of data under existing international statistical cooperation arrangements.

### New international cooperation initiative on data gaps (possible new DGI)
- In July 2021, the G20 FMCBG took note of a Concept Note on a possible new DGI prepared by the IMF, in close cooperation with the FSB and the IAG, reflecting input from the Italian G20 presidency and other participating economies.
- The Concept Note identified four main statistical and data priorities for a possible new DGI:
  - (i) climate change;
  - (ii) household distributional information;
  - (iii) Fintech and financial inclusion data;
  - (iv) access to private sources of data and administrative data, and data sharing.
- A detailed work plan for a possible new DGI will be developed in light of the July 2021 G20 FMCBG communiqué.
- The IMF, in close cooperation with the FSB and the IAG, has begun to draw up a workplan that will define the scope and timeline for the initiative; participating economies will be fully consulted.
- The new initiative will include a consultation process with users and compilers of data, carefully formulated targets that take into account resource implications and feasibility for G20 and any other participating economies, and coordination with other existing international statistical workstreams to avoid duplication and develop synergies.

### Monitoring dashboards (annex material — status snapshots at mid-2021)
- Annex 1 and Annex 2 present Monitoring Traffic Light Dashboards showing progress in implementation of common priority recommendations and G20 economies’ status at mid-2021.
- Examples of monitored recommendations and explicit targets shown in the dashboards:
  - Recommendation II.2: Target — Reporting of Seven FSIs w Q frequency, T+Q timeliness; 2018-Intermediate target: Six FSIs except RPPI w. Q frequency, T+Q timeliness.
  - Recommendation II.7: Target — Report Core data on Debt Securities Issuance Statistics in line with the HSS; 2016-Provide self commitments for reporting of securities statistics; 2018-Intermediate Target: Reporting of Core stock data at nominal value on Debt Securities Issuance Statistics in line with the HSS; 2021-Target: Reporting of Core data on Debt Securities Issuance Statistics and More Advanced Ambitions data on Debt Securities Issuance, Holdings and From-Whom-To-Whom Statistics in line with the HSS.
  - Recommendation II.8: Target — Disseminate non-financial, financial accounts and balance sheet data (annual and quarterly breakdowns and stocks).
  - Recommendation II.11: Target — Fully implement the agreed IBS (LBS/CBS) enhancements; 2018-Intermediate target 1: Reporting of LBS.
  - Recommendation II.12: Target — Reporting of semi-annual CPIS data including sector of holder; Intermediate target: Semi-annual CPIS (reporting of the core table).
  - Recommendation II.15: Target — Disseminate quarterly General Government Data in line with GFSM 2014; 2019-Intermediate target: General Government data with annual frequency.
  - Recommendation II.16: Target — Reporting general and central government debt data; 2018-Intermediate target: Reporting central government.
  - Recommendation II.17: Target — Compilation and dissemination of RPPI in line with the Handbook on RPPI (2018-Intermediate target: Some data reported to BIS, Eurostat and OECD).
  - Recommendation II.18: Target — Encouraged reporting of available CPPI (2018-Intermediate target: Some nationally available data reported to the BIS or to the ECB for EU economies).
- Dashboards use traffic-light notation: Target/Intermediate target met; Target/Intermediate target partially met; Target/Intermediate target not met; N/A Not Applicable; ** Target supported but commitment depends on further IAG guidance/national consideration; *** Suspended in light of the new IAIS holistic framework on systemic risk in the insurance sector.

---

### Annex 3. Monitoring Traffic Light Dashboard: Status of Progress in the Voluntary Implementation by non-G20 FSB Economies at mid-2021

### Overview and scope
- Non-G20 FSB member economies participate in the DGI-2 on a voluntary basis, implementing those recommendations they deem appropriate for their respective economy.
- The table includes traffic lights only for a subset of recommendations for some jurisdictions, reflecting their current decisions on implementation.
- Cells left blank indicate recommendations/targets that are currently not being implemented by the non-G20 FSB member jurisdictions.
- Notes: Targets of Recommendations II.19 and II.20 have a qualitative nature and are not included in this monitoring table.

### Selected recommendation statuses (examples and exact flags/notes)
- Recommendation II.2 — Financial Soundness Indicators (COMMON PRIORITY)
  - Target: Reporting of Seven FSIs w Q frequency, T+Q timeliness.
  - 2018-Intermediate target: Six FSIs except RPPI w. Q frequency, T+Q timeliness.
  - Status flags shown: (2/1)(2/3)(2/3)
  - Notes:
    - (2/1) RPPI is not reported.
    - (2/2) Reporting timeliness is beyond quarterly for some/all seven FSIs.
    - (2/3) Not all seven FSIs are provided with a quarterly frequency.
- Recommendation II.3 — Concentration and Distribution Measures
  - Target: Contribute to the discussions.
  - Status indicator in source: **********
- Recommendation II.4 — Globally Systemically Important Financial Institutions
  - Target 1: Provision of I-A data with T+50 timeliness.
    - Status in table: N/A
    - Note (4/1): As reporting has just started the agreed timeliness for reporting (T+50) will be gradually phased in.
  - Target 2: Work towards provision of I-I data on a weekly frequency.
    - Status in table: N/A
  - Target 3: Support sharing of GSIBs data.
    - Status in table: N/A
  - Target 4: Participate in the work on GSIIs.
    - Status indicator in source: ***************
    - Notes:
      - Some economies are also submitting data for selected Domestically Systemically Important Banks and this is reflected for Target 4.
      - Action plan on Global Systemically Important Insurers (G-SIIs) postponed until after completion of the IAIS holistic framework on systemic risk in insurance.
      - (4/2) China is not participating in the Global Systemically Important Banks (G-SIBs) data collection exercise.
      - (4/3) Work is well underway and full implementation is scheduled for Q2/2022 aligning with the effective date of recent International Data Hub guideline revisions.
- Recommendation II.5 — Non-Bank Financial Intermediation (previously called Shadow Banking)
  - Target 1: Report data to FSB annual monitoring exercise on non-bank financial intermediation.
  - Target 2: Start reporting to the FSB data on SFTs.
  - Status: included in dashboard; no numeric status flags listed in excerpt.
- Recommendation II.6 — Derivatives
  - Target 1: Participate in the BIS 2019 Triennial Survey.
  - Target 2: Separately identify CCPs in BIS Semiannual Survey.
  - Target 3: Support the FSB work.
  - Notes:
    - (6/1) The FSB reported in November 2018 on actions taken by economies to implement recommendations of the 2015 thematic peer review of OTC derivatives trade reporting. The report concluded that three jurisdictions (China, Mexico and Saudi Arabia) have outstanding issues with implementing the recommendations to remove barriers to full trade reporting and/or to authorities’ access to Trade Repository data. Subsequently in 2020, Mexico reported that it addressed the issues identified in the November 2018 report.
- Recommendation II.7 — Securities Statistics (COMMON PRIORITY)
  - Target: Report Core data on Debt Securities Issuance Statistcs in line with the HSS.
  - Status flags: (7/1)(7/1)(7/1)(7/1)
  - Timeline and targets:
    - 2016-Provide self commitments for reporting of securities statistics.
    - 2018-Intermediate Target: Reporting of Core stock data at nominal value on Debt Securities Issuance Statistcs in line with the HSS.
    - 2021-Target: Reporting of Core data on Debt Securities Issuance Statistics and More Advanced Ambitions data on Debt Securities Issuance, Holdings and From-Whom-To-Whom Statistics in line with the HSS.
    - Status flags for 2021: (7/5)(7/5)(7/5)(7/5)
  - Notes:
    - (7/1) Assessment based on self-commitments provided by all participating economies, starting with reference date Q4/2018 to be reported by May 2019 at the latest. Reporting templates for debt securities issuance, holdings and from-whom-to-whom statistics including Core data and More Advanced Ambitions data are available (links in source).
    - (7/2) Some self-commitments of the 2018 intermediate target have been implemented.
    - (7/3) Most self-commitments of the 2018 intermediate target have been implemented.
    - (7/4) Self-commitments do not cover intermediate target data on stocks of debt securities issuances at nominal value in reporting template 1.1.
    - (7/5) Assessment of implementation of the target is based on self-commitments and will be performed by Q4/2021.
- Recommendation II.8 — Sectoral Accounts (COMMON PRIORITY)
  - Target: Disseminate non-financial, financial accounts and balance sheet data (annual and quarterly breakdowns and stocks).
  - Notes:
    - Explanatory notes elaborating on the status of reporting by G20 economies are separately provided.
    - (8/1) Assessment based on revised templates following discussions at the February 2018 thematic workshop on institutional sectoral accounts. Templates explicitly endorsed by a very large majority of participating economies; others did not express objections.
- Recommendation II.9 — Household Distributional Information
  - Target: Encouraged to compile and disseminate distributional data.
  - Status indicator in source: **********
- Recommendation II.10 — International Investment Position
  - Target: Provide quarterly IIP data including currency breakdown and OFCs.
  - Intermediate targets and timeline:
    - 2018-Intermediate target 1: Quarterly IIP.
    - 2019-Intermediate target 2: Separate identification of OFCs.
    - 2021-Intermediate target 3: Currency breakdown.
  - Notes:
    - (10/1) Data for OFCs are separately identified in limited financial instruments.
- Recommendation II.11 — International Banking Statistics (COMMON PRIORITY)
  - Target: Fully implement the agreed IBS enhancements.
  - Status flags shown: (11/1) (11/4)
  - Notes:
    - (11/1) Required subsectors in LBS are not yet reported.
    - (11/2) Required subsectors in CBS are not yet reported.
    - (11/3) CBS data are not yet reported.
    - (11/4) Domestic positions in LBS are not yet reported.
    - (11/5) Domestic positions in CBS are not yet reported.
    - 2018-Intermediate target 1: Reporting of LBS.
- Recommendation II.12 — Coordinated Portfolio Investment Survey (COMMON PRIORITY)
  - Target: Reporting of semi-annual CPIS data including sector of holder.
  - Intermediate target: Semi-annual CPIS (reporting of the core table).
  - Note:
    - (12/1) Reporting on an annual basis.
- Recommendation II.13 — Coordinated Direct Investment Survey
  - Target: Reporting inward and outward data split by equity and debt.
  - Intermediate target: inward data with net equity and net debt split.
  - Notes:
    - (13/1) Counterpart country information is not provided for debt.
    - (13/2) Outward debt positions are not reported.
- Recommendation II.14 — Cross-border Exposures of Non-bank Corporations
  - Target 1: Provision of IBS and Securities data separately identifying the NFC sector.
  - Target 2: Reporting of SRF 4SRs.
  - Notes:
    - (14/1) Non-financial sector is reported as required, but not subsectors (its breakdown in subsectors is encouraged but not required). Japan reports in CBS but not in LBS.
    - (14/2) OFC coverage needs to be broadened.
    - (14/3) Non-financial sector is not reported.
    - (14/4) NFC and OFC coverage and breakdown needs to be improved.
- Recommendation II.15 — Government Finance Statistics (COMMON PRIORITY)
  - Target: Disseminate quarterly General Government Data in line with GFSM 2014.
  - Status flags: (15/7); 2019-Intermediate target: General Government data with annual frequency; (15/5)
  - Notes:
    - (15/1) General government data are reported with annual frequency. Quarterly financial balance sheet data not available.
    - (15/2) Annual GFS covering consolidated central government operations are reported. Financial balance sheet data not available.
    - (15/3) General government institutional coverage is under discussion regarding local government financing vehicles; expenditure data currently only available as Classification of the Functions of Government data, economic transaction breakdown under development.
    - (15/4) Budgetary central government and SSFs reported with annual frequency. EBFs and balance sheets under development.
    - (15/5) Annual GFS covering consolidated general government operations are reported. Financial balance sheet data not available.
    - (15/6) Currently reported quarterly (cash) and annual (combination of accrual and adjusted cash) stock and flow data is not fully GFSM2014 compliant.
    - (15/7) Fallback solution for 2021 is met, although quarterly data including financial balance sheet information require dissemination to fully meet the recommendation.
- Recommendation II.16 — Public Sector Debt Statistics (COMMON PRIORITY)
  - Target: Reporting general and central government debt data.
  - Intermediate target: 2018-Reporting central government.
  - Notes:
    - (16/1) General government debt is not reported.
    - (16/2) Annual data reported.
    - (16/3) Data are not consolidated and reported at market value.
    - (16/4) Budgetary central government data reported.
    - (16/5) Bi-annual data reported.
- Recommendation II.17 — Residential Property Prices
  - Target: Compilation and publishing RPPI in line with the Handbook on RPPI.
  - Status indicators in source: ** and **
  - 2018-Intermediate target: Some data reported to relevant international organisations, including BIS, Eurostat and OECD.
- Recommendation II.18 — Commercial Property Prices
  - Target: Encouraged reporting of available CPPI.
  - Status indicators in source: **** and ******
  - 2018-Intermediate target: Some nationally available data reported to the BIS (or to the ECB for EU economies).
- Legend and status indicators (as provided)
  - Target/Intermediate target met.
  - Target/Intermediate target partially met.
  - Target/Intermediate target not met.
  - ** Target supported but commitment depends on further IAG guidance/national consideration.
  - *** Suspended in light of the new IAIS holistic framework on systemic risk in the insurance sector.
  - N/A Not Applicable

*Source: g20-data-gaps-initiative-dgi-2-sixth-progress-report (mid-2021 excerpts).*

### 1. Overall Implementation Status and Progress for the DGI-2 Recommendations ................ 10

### 1. Overall Implementation Status and Progress for the DGI-2 Recommendations

### Key messages
- 2021 is the final year of the second phase of the Data Gaps Initiative (DGI-2) and the twelfth year since the G20 FMCBG endorsed the twenty recommendations.
- Despite the COVID-19 pandemic, significant progress has been made in strengthening data collection for monitoring and policy responses; however, the pandemic slowed implementation and may prevent full completion of some recommendations by end-2021.
- The initiative’s value was demonstrated during the COVID-19 crisis by improving policymakers’ access to information on financial and nonfinancial sectors, interconnectedness, and cross-border spillovers.
- Four main statistical and data priorities identified for a possible new post-2021 initiative: (i) climate change; (ii) household distributional information; (iii) Fintech and financial inclusion data; and (iv) access to private sources of data and administrative data, and data sharing.
- Participating economies and international organizations have started developing a detailed workplan for a new initiative to be developed beyond 2021.

### Introduction (purpose, scope, and structure of the report)
- Accurate and timely data are critical to policymakers and market participants for understanding risks and designing responses.
- Participating economies have been implementing DGI recommendations since October 2009; DGI-2 concludes at the end of 2021.
- The Sixth Progress Report covers progress since the end of 2020, remaining work to complete recommendations through December 2021, and a possible new DGI.
- Report structure:
  - Section II: outcomes of 2020-21 work program and progress on DGI-2 recommendations.
  - Section III: remaining work to complete DGI-2 by December 2021.
  - Section IV: overview of a possible new data gaps initiative.
  - Annexes: progress on common priority recommendations, status of implementation at mid-2021 for G20 and selected non-G20 FSB economies.

### Progress since October 2020 in light of the continued COVID-19 pandemic
- The pandemic continued to disrupt the DGI-2 workplan in 2020-21; many activities moved to virtual formats.
- Virtual events held since October 2020 included:
  - Four virtual seminars on Financial Soundness Indicators (FSIs) (Recommendation II.2) organized by IMF staff from January to March 2021, familiarizing participants with the IMF 2019 FSI Compilation Guide and focusing on deposit-taking corporations.
  - A virtual workshop on securities statistics (Recommendation II.7) in October 2020 organized by BIS, ECB, and IMF staff; participants confirmed self-commitments for 2021 reporting objectives.
  - A virtual seminar on securities statistics (Recommendation II.7) in March 2021 organized by ECB, BIS, and IMF staff with IMF-Singapore Training Institute introducing the 2015 Handbook on Securities Statistics.
  - A virtual workshop on the IIP (Recommendation II.10) in March 2021 on currency composition of the IIP; several economies plan to start reporting currency composition data by end of 2021.
  - A virtual workshop on promotion of data sharing (Recommendation II.20) in March 2021 organized by IMF, Eurostat, and Deutsche Bundesbank; participants agreed to follow-up work on an international micro data standard and documentation of good practices covering: (i) benefits of data sharing; (ii) assurance of privacy and cybersecurity; (iii) tools to facilitate use of micro data; (iv) legal issues relating to exchange of confidential information; and (v) cooperation with public and private data holders.
- The IAG held frequent videoconferences and the DGI Global Conferences were held virtually on January 19, 2021 and on June 10, 2021, enabling experience sharing and peer learning.
- Monitoring of implementation included, for the first time in this progress report, the status of global SFT data collection (Recommendation II.5).

### Overall progress and notable implementation outcomes (high-level findings)
- Significant improvements during DGI phases 1 and 2 in conceptual frameworks, coverage, timeliness, or periodicity for:
  - Financial Soundness Indicators (FSIs).
  - Global systemically important financial institutions (G-SIBs) and global systemically important insurers (G-SIIs).
  - Non-bank financial intermediation.
  - Derivatives data.
  - Securities statistics.
  - International investment position (IIP).
  - Coordinated Direct Investment Survey (CDIS).
  - Coordinated Portfolio Investment Survey (CPIS).
  - Residential and Commercial Property Price Indices (RPPI and CPPI).
- The peer pressure mechanism, regular monitoring, thematic workshops, seminars, and virtual Global Conferences supported implementation despite pandemic constraints.
- Remaining challenges and slower progress observed particularly for:
  - Securities financing transaction (SFT) data (Recommendation II.5).
  - Institutional sectoral accounts (Recommendation II.8).
  - Household distributional information (Recommendation II.9).
  - Data on general government debt and operations (Recommendations II.15 and II.16).
  - Commercial Property Price Index (CPPI) (Recommendation II.18).
- Work is underway to develop a detailed workplan for a new initiative beyond the end of DGI-2 in 2021.

### Highlights from the monitoring dashboard and status by recommendation (selected exact findings)
- FSIs:
  - All G-20 economies report at least six FSIs (except RPPI), with 16 economies reporting all seven (one economy reports RPPI with a long lag).
  - All, except three, meet SDDS Plus periodicity and timeliness requirements for the six FSIs.
  - The IMF 2019 Financial Soundness Indicators Compilation Guide was published in December 2019.
- Concentration and Distribution Measures (CDMs, #II.3):
  - FSI compilers supported CDM collection; guidance incorporated in revised FSI Guide.
  - An IMF CDM compilation tool was posted on the FSI website in December 2019.
  - Collection of CDM data is expected to start by end-2021 in the context of implementing the 2019 FSI Guide.
- G-SIBs and G-SIIs:
  - G-SIBs Phase 3 data reporting has started in all jurisdictions.
  - Action plan for G-SIIs postponed in light of the new IAIS holistic framework on systemic risk in the insurance sector.
- Non-bank financial intermediation (#II.5):
  - FSB is conducting annual global monitoring exercises on non-bank financial intermediation.
  - Technical and governance work for global SFT data collection and aggregation has been completed. Reporting of aggregated national data has started.
- Derivatives and trade reporting:
  - All G20 economies participated in the 2019 Triennial Surveys, including reporting new data on CCPs.
  - Work completed in 2018 on UTI/UPI technical guidance; implementation expected by Q3 2022.
  - Work completed in 2019 on UTI/UPI governance.
  - Economies are taking actions on barriers to OTC derivatives trade data reporting.
- Securities statistics (#II.7):
  - All G20 economies provided self-commitments.
  - All G20 economies (except for one) fully or mostly implemented the self-commitments for the 2018 intermediate target; some economies implemented additional series.
- Sectoral accounts (#II.8):
  - Further progress needed, especially regarding quarterly non-financial accounts transactions which are not reported by half of the G20 economies.
  - 16 G20 economies report all or part of the target series for annual non-financial accounts transactions.
  - 10 G20 economies report all or part of the target series for quarterly non-financial accounts transactions.
  - 12 G20 economies report all or part of the target series for annual stocks of non-financial assets.
  - 16 G20 economies report all or part of the target series for annual financial accounts and balance sheets.
  - 13 G20 economies report all or part of the target series for quarterly financial accounts and balance sheets.
- Household distributional information (#II.9):
  - Sources and compilation methods developed for non-financial accounts transactions; first experimental estimates published by Eurostat and the OECD for a range of countries.
  - Sources and methods under development for financial transactions and balance sheets.
- International Investment Position (#II.10):
  - 20 G20 economies report quarterly data on a BPM6 basis.
  - 17 G20 economies identify OFCs.
  - 8 G20 economies are reporting the currency composition data and several economies plan to start reporting data by the end of 2021.
- International Banking Statistics (#II.11):
  - 18 G20 economies report the locational banking statistics (only AR does not report).
  - 13 G20 economies report the agreed enhancements.
  - 13 G20 economies report consolidated banking statistics; 10 fully report the agreed enhancements.
- CPIS (#II.12) and CDIS (#II.13):
  - All G20 countries report core CPIS data on a semi-annual basis except for one which reports annually.
  - 16 G20 economies report the sector of holder table.
  - 18 G20 economies report inward data (one provides only equity).
  - 18 G20 economies report outward data (16 with net equity and net debt split). Two economies can only provide equity data.
  - 13 G20 economies report NFC sector in LBS.
  - 12 G20 economies (including the EU) report data for OFCs, eight via the SRF 4SR and four via the ECB. Of the remaining G20 economies, 1 reports with incomplete coverage.
- Government finance and public debt (#II.15 and #II.16):
  - 15 G20 economies report annual general government data based on GFSM 2014.
  - 12 G20 economies report quarterly general government data.
  - 2 economies report budgetary central government debt; 16 economies report central government debt; 12 G20 economies report general government debt. Progress has been made to broaden instrument and sectoral coverage.
- Property price indices (#II.17 and #II.18):
  - At least one RPPI is available for 19 G20 economies.
  - Progress on methodological issues affecting RPPI comparability is being made.
  - Template for internationally comparable RPPI data and related housing indicators endorsed.
  - 10 G20 economies report CPPI data.
  - Publication: “Commercial Property Price Indicators: Sources, Methods and Issues” published in December 2017 by Eurostat.
  - Eurostat launched Task Force on Commercial Real Estate Indicators in 2018.
  - No harmonized methodological framework nor detailed methodological guidance available yet for CPPI; action plan still to be elaborated.
- International data cooperation and promotion of data sharing (#II.19 and #II.20):
  - Regular exchange of GDP, population, employment, and sectoral accounts data is in progress. Implementation for Balance of payments data exchange is ongoing.
  - IAG IDC Steering Group and SDMX-Macro Economic Statistics (MES) Ownership Group merged into new MES Ownership Group.
  - A virtual workshop on promotion of data sharing was held in March 2021 and a questionnaire on Data Sharing was completed with results shared based on thematic workshop recommendations.

### Remaining work towards completing DGI-2 recommendations (selected priorities and likely shortfalls)
- Given the limited time to end-2021, it is very likely that some recommendations will not be fully completed by the end of 2021.
- Key areas with remaining work:
  - Collection and reporting of national aggregates of SFTs (Recommendation II.5).
  - Compilation and dissemination of institutional sectoral accounts (Recommendation II.8), notably quarterly non-financial accounts transactions where half of G20 economies do not yet report.
  - Compilation and dissemination of household distributional information (Recommendation II.9) for financial transactions and balance sheets (sources and methods still under development).
  - Reporting complete quarterly general government debt and operations (Recommendation II.16).
  - Reporting CPPI and elaborating a harmonized methodological framework with a detailed action plan (Recommendation II.18).
- Workstreams broadly categorized in the monitoring dashboard:
  - Fully or nearly completed workstream.
  - Significant progress made, workstream broadly on track.
  - Early stage of implementation or lack of timely progress.

_This summary is based on the Sixth Progress Report section: "1. Overall Implementation Status and Progress for the DGI-2 Recommendations"._

### 10.      Participating economies continue to take forward the agreed DGI-2

### 10.      Participating economies continue to take forward the agreed DGI-2

### Progress and monitoring
- Participating economies and international organizations will continue to monitor progress to successfully conclude the targets under the twenty DGI-2 recommendations by the end of 2021.
- The final status of each DGI-2 recommendation will be carefully assessed as of the end of December 2021 and included in the Final Report.
- The IMF staff and the FSB Secretariat will report the assessment, as well as the way forward for recommendations where work remains unfinished for certain targets and jurisdictions, to the G20 FMCBG in the Final Report in early 2022.

### Planned workshops and events (remainder of 2021)
- A workshop on SFT data collection and aggregation is planned to be organized by the BIS and the FSB in late 2021 (Recommendation II.5).
- The Bank of Italy is planning to host a workshop on distributional financial accounts in early November 2021, along with the Italian National Institute of Statistics, Eurostat, ECB and the Organisation for Economic Co-operation and Development (OECD) (Recommendation II.9).
- A closing Global Conference is planned for the remainder of 2021.
- Other workshops originally planned for 2021 were postponed due to the COVID-19 pandemic.

### Implementation challenges and likely incomplete targets by end-2021
- It is very likely that in some economies a number of recommendations will not be completed by the end of 2021.
- Specific recommendations and targets where many participating economies face significant implementation challenges:
  - Recommendation II.5: reporting of aggregated national data on SFTs.
  - Recommendation II.8: dissemination of institutional sectoral accounts.
  - Recommendation II.9: reporting of household distributional information.
  - Recommendation II.16: reporting complete quarterly general government debt and operations.
  - Recommendation II.18: reporting of CPPI.
- Additional areas where gaps are likely to remain for several jurisdictions:
  - Recommendation II.7: certain targets for securities statistics.
  - Recommendation II.10: currency breakdown of IIP.
  - Recommendation II.11: IBS.
  - Recommendation II.14: cross-border exposures of non-bank corporations.
  - Recommendation II.15: government finance statistics.
  - Recommendation II.17: RPPI.
- Causes of delays:
  - Initial effort needed to develop methodology and reporting templates.
  - Delays in the underlying legislative process.
  - Delays in planned workshops due to the pandemic.
  - Participating economies shifting resources to other priorities, especially in light of the pandemic.

### Follow-up monitoring and support after end-2021
- International organizations will continue to provide guidance, support or consultation on remaining DGI-2 recommendations even after the close of the DGI-2 at the end of 2021.
- IMF staff and the FSB Secretariat, along with the IAG, have begun to identify monitoring processes for addressing gaps that may remain after 2021.
- Many follow-up monitoring efforts will be covered by regular data collection processes and technical assistance activities.
- Lead agencies will continue to work with participating economies to improve coverage, quality, and timeliness of data under existing international statistical cooperation arrangements.

### New international cooperation initiative on data gaps (possible new DGI)
- In July 2021, the G20 FMCBG took note of a Concept Note on a possible new DGI prepared by the IMF, in close cooperation with the FSB and the IAG, reflecting input from the Italian G20 presidency and other participating economies.
- The Concept Note identified four main statistical and data priorities for a possible new DGI:
  - (i) climate change;
  - (ii) household distributional information;
  - (iii) Fintech and financial inclusion data;
  - (iv) access to private sources of data and administrative data, and data sharing.
- A detailed work plan for a possible new DGI will be developed in light of the July 2021 G20 FMCBG communiqué.
- The IMF, in close cooperation with the FSB and the IAG, has begun to draw up a workplan that will define the scope and timeline for the initiative; participating economies will be fully consulted.
- The new initiative will include a consultation process with users and compilers of data, carefully formulated targets that take into account resource implications and feasibility for G20 and any other participating economies, and coordination with other existing international statistical workstreams to avoid duplication and develop synergies.

### Monitoring dashboards (annex material — status snapshots at mid-2021)
- Annex 1 and Annex 2 present Monitoring Traffic Light Dashboards showing progress in implementation of common priority recommendations and G20 economies’ status at mid-2021.
- Examples of monitored recommendations and explicit targets shown in the dashboards:
  - Recommendation II.2: Target — Reporting of Seven FSIs w Q frequency, T+Q timeliness; 2018-Intermediate target: Six FSIs except RPPI w. Q frequency, T+Q timeliness.
  - Recommendation II.7: Target — Report Core data on Debt Securities Issuance Statistics in line with the HSS; 2016-Provide self commitments for reporting of securities statistics; 2018-Intermediate Target: Reporting of Core stock data at nominal value on Debt Securities Issuance Statistics in line with the HSS; 2021-Target: Reporting of Core data on Debt Securities Issuance Statistics and More Advanced Ambitions data on Debt Securities Issuance, Holdings and From-Whom-To-Whom Statistics in line with the HSS.
  - Recommendation II.8: Target — Disseminate non-financial, financial accounts and balance sheet data (annual and quarterly breakdowns and stocks).
  - Recommendation II.11: Target — Fully implement the agreed IBS (LBS/CBS) enhancements; 2018-Intermediate target 1: Reporting of LBS.
  - Recommendation II.12: Target — Reporting of semi-annual CPIS data including sector of holder; Intermediate target: Semi-annual CPIS (reporting of the core table).
  - Recommendation II.15: Target — Disseminate quarterly General Government Data in line with GFSM 2014; 2019-Intermediate target: General Government data with annual frequency.
  - Recommendation II.16: Target — Reporting general and central government debt data; 2018-Intermediate target: Reporting central government.
  - Recommendation II.17: Target — Compilation and dissemination of RPPI in line with the Handbook on RPPI (2018-Intermediate target: Some data reported to BIS, Eurostat and OECD).
  - Recommendation II.18: Target — Encouraged reporting of available CPPI (2018-Intermediate target: Some nationally available data reported to the BIS or to the ECB for EU economies).
- Dashboards use traffic-light notation: Target/Intermediate target met; Target/Intermediate target partially met; Target/Intermediate target not met; N/A Not Applicable; ** Target supported but commitment depends on further IAG guidance/national consideration; *** Suspended in light of the new IAIS holistic framework on systemic risk in the insurance sector.

*Source: g20-data-gaps-initiative-dgi-2-sixth-progress-report (mid-2021 excerpts).*

### Annex 3. Monitoring Traffic Light Dashboard: Status of Progress in the Voluntary

### Annex 3. Monitoring Traffic Light Dashboard: Status of Progress in the Voluntary Implementation of Selected DGI-2 Recommendations by non-G20 FSB Economies at mid-2021

### Overview and scope
- Non-G20 FSB member economies participate in the DGI-2 on a voluntary basis, implementing those recommendations they deem appropriate for their respective economy.
- The table includes traffic lights only for a subset of recommendations for some jurisdictions, reflecting their current decisions on implementation.
- Cells left blank indicate recommendations/targets that are currently not being implemented by the non-G20 FSB member jurisdictions.
- Notes: Targets of Recommendations II.19 and II.20 have a qualitative nature and are not included in this monitoring table.

### Recommendation II.2 — Financial Soundness Indicators (COMMON PRIORITY)
- Target: Reporting of Seven FSIs w Q frequency, T+Q timeliness.
- 2018-Intermediate target: Six FSIs except RPPI w. Q frequency, T+Q timeliness.
- Status flags shown: (2/1)(2/3)(2/3)
- Notes:
  - (2/1) RPPI is not reported.
  - (2/2) Reporting timeliness is beyond quarterly for some/all seven FSIs.
  - (2/3) Not all seven FSIs are provided with a quarterly frequency.

### Recommendation II.3 — Concentration and Distribution Measures
- Target: Contribute to the discussions.
- Status indicator in source: **********

### Recommendation II.4 — Globally Systemically Important Financial Institutions
- Target 1: Provision of I-A data with T+50 timeliness.
  - Status in table: N/A
  - Note (4/1): As reporting has just started the agreed timeliness for reporting (T+50) will be gradually phased in.
- Target 2: Work towards provision of I-I data on a weekly frequency.
  - Status in table: N/A
- Target 3: Support sharing of GSIBs data.
  - Status in table: N/A
- Target 4: Participate in the work on GSIIs.
  - Status indicator in source: ***************
  - Notes:
    - Some economies are also submitting data for selected Domestically Systemically Important Banks and this is reflected for Target 4.
    - Action plan on Global Systemically Important Insurers (G-SIIs) postponed until after completion of the IAIS holistic framework on systemic risk in insurance.
    - (4/2) China is not participating in the Global Systemically Important Banks (G-SIBs) data collection exercise.
    - (4/3) Work is well underway and full implementation is scheduled for Q2/2022 aligning with the effective date of recent International Data Hub guideline revisions.

### Recommendation II.5 — Non-Bank Financial Intermediation (previously called Shadow Banking)
- Target 1: Report data to FSB annual monitoring exercise on non-bank financial intermediation.
- Target 2: Start reporting to the FSB data on SFTs.
- Status: included in dashboard; no numeric status flags listed in excerpt.

### Recommendation II.6 — Derivatives
- Target 1: Participate in the BIS 2019 Triennial Survey.
- Target 2: Separately identify CCPs in BIS Semiannual Survey.
- Target 3: Support the FSB work.
- Notes:
  - (6/1) The FSB reported in November 2018 on actions taken by economies to implement recommendations of the 2015 thematic peer review of OTC derivatives trade reporting. The report concluded that three jurisdictions (China, Mexico and Saudi Arabia) have outstanding issues with implementing the recommendations to remove barriers to full trade reporting and/or to authorities’ access to Trade Repository data. Subsequently in 2020, Mexico reported that it addressed the issues identified in the November 2018 report.

### Recommendation II.7 — Securities Statistics (COMMON PRIORITY)
- Target: Report Core data on Debt Securities Issuance Statistcs in line with the HSS.
- Status flags: (7/1)(7/1)(7/1)(7/1)
- Timeline and targets:
  - 2016-Provide self commitments for reporting of securities statistics.
  - 2018-Intermediate Target: Reporting of Core stock data at nominal value on Debt Securities Issuance Statistcs in line with the HSS.
  - 2021-Target: Reporting of Core data on Debt Securities Issuance Statistics and More Advanced Ambitions data on Debt Securities Issuance, Holdings and From-Whom-To-Whom Statistics in line with the HSS.
  - Status flags for 2021: (7/5)(7/5)(7/5)(7/5)
- Notes:
  - (7/1) Assessment based on self-commitments provided by all participating economies, starting with reference date Q4/2018 to be reported by May 2019 at the latest. Reporting templates for debt securities issuance, holdings and from-whom-to-whom statistics including Core data and More Advanced Ambitions data are available (links in source).
  - (7/2) Some self-commitments of the 2018 intermediate target have been implemented.
  - (7/3) Most self-commitments of the 2018 intermediate target have been implemented.
  - (7/4) Self-commitments do not cover intermediate target data on stocks of debt securities issuances at nominal value in reporting template 1.1.
  - (7/5) Assessment of implementation of the target is based on self-commitments and will be performed by Q4/2021.

### Recommendation II.8 — Sectoral Accounts (COMMON PRIORITY)
- Target: Disseminate non-financial, financial accounts and balance sheet data.
  - Dissemination of non-financial accounts transactions (Annual data).
  - Dissemination of non-financial accounts transactions (Quarterly data).
  - Dissemination of stocks of non-financial assets (Annual data).
  - Dissemination of financial accounts and balance sheets (Annual data).
  - Dissemination of financial accounts and balance sheets (Quarterly data).
- Notes:
  - Explanatory notes elaborating on the status of reporting by G20 economies are separately provided.
  - (8/1) Assessment based on revised templates following discussions at the February 2018 thematic workshop on institutional sectoral accounts. Templates explicitly endorsed by a very large majority of participating economies; others did not express objections.

### Recommendation II.9 — Household Distributional Information
- Target: Encouraged to compile and disseminate distributional data.
- Status indicator in source: **********

### Recommendation II.10 — International Investment Position
- Target: Provide quarterly IIP data including currency breakdown and OFCs.
- Intermediate targets and timeline:
  - 2018-Intermediate target 1: Quarterly IIP.
  - 2019-Intermediate target 2: Separate identification of OFCs.
  - 2021-Intermediate target 3: Currency breakdown.
- Notes:
  - (10/1) Data for OFCs are separately identified in limited financial instruments.

### Recommendation II.11 — International Banking Statistics (COMMON PRIORITY)
- Target: Fully implement the agreed IBS enhancements.
- Status flags shown: (11/1) (11/4)
- Notes:
  - (11/1) Required subsectors in LBS are not yet reported.
  - (11/2) Required subsectors in CBS are not yet reported.
  - (11/3) CBS data are not yet reported.
  - (11/4) Domestic positions in LBS are not yet reported.
  - (11/5) Domestic positions in CBS are not yet reported.
  - 2018-Intermediate target 1: Reporting of LBS.

### Recommendation II.12 — Coordinated Portfolio Investment Survey (COMMON PRIORITY)
- Target: Reporting of semi-annual CPIS data including sector of holder.
- Intermediate target: Semi-annual CPIS (reporting of the core table).
- Note:
  - (12/1) Reporting on an annual basis.

### Recommendation II.13 — Coordinated Direct Investment Survey
- Target: Reporting inward and outward data split by equity and debt.
- Intermediate target: inward data with net equity and net debt split.
- Notes:
  - (13/1) Counterpart country information is not provided for debt.
  - (13/2) Outward debt positions are not reported.

### Recommendation II.14 — Cross-border Exposures of Non-bank Corporations
- Target 1: Provision of IBS and Securities data separately identifying the NFC sector.
- Target 2: Reporting of SRF 4SRs.
- Notes:
  - (14/1) Non-financial sector is reported as required, but not subsectors (its breakdown in subsectors is encouraged but not required). Japan reports in CBS but not in LBS.
  - (14/2) OFC coverage needs to be broadened.
  - (14/3) Non-financial sector is not reported.
  - (14/4) NFC and OFC coverage and breakdown needs to be improved.

### Recommendation II.15 — Government Finance Statistics (COMMON PRIORITY)
- Target: Disseminate quarterly General Government Data in line with GFSM 2014.
- Status flags: (15/7); 2019-Intermediate target: General Government data with annual frequency; (15/5)
- Notes:
  - (15/1) General government data are reported with annual frequency. Quarterly financial balance sheet data not available.
  - (15/2) Annual GFS covering consolidated central government operations are reported. Financial balance sheet data not available.
  - (15/3) General government institutional coverage is under discussion regarding local government financing vehicles; expenditure data currently only available as Classification of the Functions of Government data, economic transaction breakdown under development.
  - (15/4) Budgetary central government and SSFs reported with annual frequency. EBFs and balance sheets under development.
  - (15/5) Annual GFS covering consolidated general government operations are reported. Financial balance sheet data not available.
  - (15/6) Currently reported quarterly (cash) and annual (combination of accrual and adjusted cash) stock and flow data is not fully GFSM2014 compliant.
  - (15/7) Fallback solution for 2021 is met, although quarterly data including financial balance sheet information require dissemination to fully meet the recommendation.

### Recommendation II.16 — Public Sector Debt Statistics (COMMON PRIORITY)
- Target: Reporting general and central government debt data.
- Intermediate target: 2018-Reporting central government.
- Notes:
  - (16/1) General government debt is not reported.
  - (16/2) Annual data reported.
  - (16/3) Data are not consolidated and reported at market value.
  - (16/4) Budgetary central government data reported.
  - (16/5) Bi-annual data reported.

### Recommendation II.17 — Residential Property Prices
- Target: Compilation and publishing RPPI in line with the Handbook on RPPI.
- Status indicators in source: ** and **
- 2018-Intermediate target: Some data reported to relevant international organisations, including BIS, Eurostat and OECD.

### Recommendation II.18 — Commercial Property Prices
- Target: Encouraged reporting of available CPPI.
- Status indicators in source: **** and ******
- 2018-Intermediate target: Some nationally available data reported to the BIS (or to the ECB for EU economies).

### Legend and status indicators (as provided)
- Target/Intermediate target met.
- Target/Intermediate target partially met.
- Target/Intermediate target not met.
- ** Target supported but commitment depends on further IAG guidance/national consideration.
- *** Suspended in light of the new IAIS holistic framework on systemic risk in the insurance sector.
- N/A Not Applicable

*Source: Annex 3. Monitoring Traffic Light Dashboard — g20-data-gaps-initiative-dgi-2-sixth-progress-report (mid-2021).*

---


_Source: https://www.imf.org/-/media/files/research/imf-and-g20/2021/g20-data-gaps-initiative-dgi-2-sixth-progress-report.pdf_