Joint Financial and Payments Systems Task Team (FITT)

The Joint Financial and Payments Systems Task Team (FITT) will advise the Inter‑secretariat Working Group on National Accounts (ISWGNA) and IMF’s Committee on Balance of Payments Statistics (BOPCOM) in the process of updating the System of National Accounts 2008 (2008 SNA) and the sixth edition of the Balance of Payments and International Investment Position Manual (BPM6). The FITT will deal with issues arising from evolution of financial/payments systems and on the treatment of specific issues relating to equity income within the framework of the revision.

FITT will be operational mostly throughout the Phase I of the update process (March 2020–March 2022). However, FITT may also be consulted during Phase II (drafting of the 2025 SNA and the BPM7 chapters) on an as-needed basis, should any significant issues arise during the worldwide consultation process.

Further details on the mandate and operations; guidance notes and working procedures; composition; and key issues to be addressed by the FITT are provided in the Terms of Reference.