The International  Investment  Position Reference Metadata in Euro SDMX Metadata Structure Agency for Statistics of Bosnia and Herzegovina
	1. Contact
	2. Metadata update
	3. Statistical presentation
	4. Unit of measure
	5. Reference period
	6. Institutional mandate
	7. Confidentiality
	8. Release policy
	9.  Frequency of dissemination
	10. Accessibility and clarity
	11. Quality management
	12. Relevance
	13. Accuracy and reliability
	14. Timeliness and punctuality
	15. Coherence and comparability
	16. Cost and burden
	17. Data revision
	18. Statistical processing
	19. Comment
	1. Contact
	1.1. Contact organisation	Central Bank of Bosnia and Herzegovina
	1.2. Contact organisation unit	Statistics  and Publication Department
	1.3. Contact name	Vedran Milisav
	1.4. Contact person function	Head of Section for Balance of payments statistics
	1.5. Contact mail address	Maršala Tita 25, 71 000 Sarajevo, Bosnia and Herzegovina
	1.6. Contact email address	vedran.milisav@cbbh.ba
	1.7. Contact phone number	+387 33 278 187
	1.8. Contact fax number	+387 33 278 188
	2. Metadata update
	2.1. Metadata last certified	31.10.2021
	2.2. Metadata last posted	31.10.2021
	2.3. Metadata last update	31.10.2021
	3. Statistical presentation
	3.1. Data description	The International  Investment  Position  is a statistical  report which, for a  specific date, shows the values and composition of: -financial assets of  residents of an economy, representing claims of residents of that economy on non—residents, as well as gold bullions held as reserve assets, and -financialliabilities of residen.s of an economy, representing  liabilities of residents of that economy towards non—residents. The difference between financial assets and liabilities is a net lnternational investment position. If net international investment  position  is  negative, it means that the  residents  of  the  observed economy have higher net liabilities than net assets, while a positive net position means the reverse situation. Therefore, for the case of negative  IIP, the observed economy has a net debt, while in case of positive net IIP, economy is a net lender to the rest of the world. In addition to IIP reflecting the consequences of financial transactions, IIP is significantly affected by other economic changes which took place over the observed period.
	3.2. Classification system	The methodological framework  followed in the compilation  of International  Investment Position for Bosnia and Herzegovina (BH) is defined in the IMF’s Balance ot Payments and International lnvestmen and data presented in accordance with BPM6 are available from 2007 onward. Balance of Payments manual fifth edition (BPM5) was the reference for the data published  by the Central Bank of Bosnia and Herzegovina (hereinafter the CBBH) until 2011.
	3.3. Sector coverage	Entire economy.
	3.4. Statistical concepts and definitons	The concept of 'resident' in the BPM6 is identical to the one used in the 2003 System of National Accounts (SNA) and the 2010 European System of National and Regional Accounts (ESA2010). The residence of each institutional unit is the economic territory  with  which  it has the strongest connection,  expressed  as its centre of predominant economic interest. Each institutional unit is a resident of one and only one economic territory determined by its centre of predominant economic interest. The  net  international  investment  position  represents  the  difference  between  financial assets and financial liabilities. Items of financial assets: •     Direct investment abroad •     Portfolio investment abroad •     Other Investments are classified as follows: -Other equity -Currency and deposits -Loans -Insurance, pensions and standardized guarantee schemes -Trade loans and advance payments -Other accounts recei-vable •     Reserve .Assets Items of financial liabilities: •     Direct investment in BH •     Portfolio investment in BH •     Financial derivatives (other than reserves) and employee stock options •     Other Investments are classified as follows: -Other equity -Currency and deposits -Loans -Insurance, pensions and standardizcd guarantee schemes -Trade loans and advance payments -Other accounts payable Special drawing rights (Net incurrence of liabilities).
	3.5. Statistical unit	Resident institutional units are defined in conformity with the relevant manual (BPM6) and relate to any individual, corporaion or other institution that has a predominant centre of economic interest in the country/territory during a given period.
	3.6. Statistical population	All positions in financial claims between resident institutional units of a country/territory and non- residents are included in the IIP.
	3.7. Reference area	Data refer to Bosnia and Herzegovina.
	3.8 Time coverage	The international  investment position data are quarterly and annual time series. The inierimtional investment position data at the end of year is equal to the position at the end of the fourth quarter of this year. The international investment position data series are available as of 2007.
	3.9. Base period	Not applicable.
	4. Unit of measure	Data available in BH currency - KM.
	5. Reference period	Variable available quarterly and for the calculation of MIP indicator reference period is calendar year.
	6. Institutional mandate
	6.1. Legal acts and other agreements	In accordance  with Central Bank of Bosnia and Herzegovina legal and sublegal acts CBBH is in charge of compilation the net IIP for the state.
	6.2. Data sharing	Pursuant to the Law on the CBBH, BH Statistics Law and the Memorandum signed between BH Agency for Statistics and the CBBH, the Central Bank of Bosnia and Herzegovina is an institution in charge  of compilation and dissemination of International Investment Position Statistics for Bosnia and Herzegovina (BH).
	7. Confidentiality
	7.1. Confidentiality-policy	Confidentiality policy is determined  with the CBBH regulation on compilation of statistics and it follows the UN General Assembly Resolution on Statistical Principles. The Resolution adopted by the UN General Assembly on 23 January 2014, Fundamental Principles of Official Statistics, LV statistical principles, establish common principles and guidelines ensuring the confidentiality of data used for the production of statistics and the access to those data.
	7.2. Confidentiality-data treatment	Individual data are not published nor shared. Data are disaggregated  and published in a form that will not reveal or jeopardize individual data.
	8. Release policy
	8.1. Release calendar	Yes, Release calendar exists.
	8.2. Release calendar access	An Advanced Release Calendar for all statistics compiled in the CBBH is available on the CBBH website:
		https://www.cbbh.ba/Content/Read/29
	8.3. User access	CBBH disseminates statistics respecting professional independence and in an objective, professioml and transparent manner in which all users are treated equally.
	9.  Frequency of dissemination	Net HP available and disseminated on the quarterly bases.
	10. Accessibility and clarity
	10.1. News release	Not available.
	10.2. Publications	Quarterly Bulletins and Annual Reports available on-line and hard copy.
		https://www.cbbh.ba/Content/Archive/35?lang=en
		https://www.cbbh.ba/Content/Archive/36?lang=en
	10.3. On-line database	Reporting table containing the main balancing items of the net IIP on CBBH web database:
		http://statistics.cbbh.ba/Panorama/novaview/SimpleLogin_en_html.aspx
	10.4. Micro-data access	Yes, respecting confidentiality policy.
	10.5. Other	Data available upon request in a form of specially prepared reporting table.
	10.6. Documentation on methodology	/
	10.7. Quality documentation	/
	11. Quality management
	11.1. Quality assurance	Quality is assured by the application of concepts according to the IMF's Balance of Payments anal lnternational Investment Positions Manual and thorough validation of data:
		https://www.imf.org/external/pubs/ft/bop/2007/pdf/bpm6.pdf
		Information on source and methods applied in Compilation of International Investment Position for Bosnia and Herzegovina (available on the Statistics web portal CBBH) ensures that data are collected from reliable source applying high standards with regard to the methodology and ensuring high comparability.
		https://cbbh.ba/content/read/1109
	11.2. Quality assessments	In compliance with Commission Regulation (EC) No 1227/2010 of 20 December 20.0 implementing  Regulation (EC) No 184/2005 (OJ No L 283/3), CBBH  prepared a Quality Report on the quality of the data for the balance of payments and international trade in services but do not transmit it since Bosnia  and Herzegovina  is not a Member State. The quality assessment verifies compliance with the quality criteria (relevance, accuracy, timeliness, punctuality, aceessibility, clarity, comparability and coherence) laid down in the Regulation on European Statistics No 223/2009.
		https://eur-lex.europa.eu/LexUriServ/LexUriServ.do?uri=OJ:L:2010:336:0015:0016:EN:PDF
	12. Relevance
	12.1. User needs	The indicator  Net International  Investment  Position is one of the headline indicators  of the MIP Scoreboard. The MIP Scoreboard is used as an early warning system in the context of the macroeconomic surveillance of EU Member States. The MIP  Scoreboard consists of a set of fourteen indicators, covering the major sources of macroeconomic imbalances. The aim of the scoreboard is to trigger in-depth studies, which will do analyses to determine whether potential imbalances identified in the early-warning system are benign or problematic. Beside IMF and Eurostat major users of data on International Investment Position for BH are: BH Directorate for Economic Planning, BH Ministry of Finance and Treasury, businesses, media and general public.
	12.2. User satisfaction	Not available.
	12.3. Completeness	Data offer complete and consistent descriotion of the components of the International Investment Position for BH in accordance with the IMF's Palance of Pavinents and International IrvestineH Positions Manual, Sixth Edition (BPM6) but without geographical breakdown.
	13. Accuracy and reliability
	13.1. Overall accuracy	The indicators are associated with a high level of overall accuracy. Data are transmitted to Eurostat and checked for their consistency and plausibility. In the compilation of International Investment Position, the CBBH 'ases the following way of collecting data, as it follows: — direct survey (survey on direct investment, survey on trade credits and advance payments), — sfiistical and administrative sources of ‹rata (publications of the IMF, BIS bank), and — statistics compiled in the CBBH (Monetary and Financial Statistics (MFS), Government Finance and Financial Accounts Statistics (GFFAS), and data received from Banking Department, Cash Management Department, Monitoring and Analyses Department, Accminting  and Finance Department, and BH Balance of Payments Statistics).
	13.2. Sampling error	Not applicable.
	13.3. Non -sampling error	Not applicable.
	14. Timeliness and punctuality
	14.1. Timeliness	Quarterly data on International Investment Position for BH are compiled and published 3 months after the reference period. Annual data are updated when the corresponding quarterly data are available.
	14.2. Punctuality	CBBH disseminates International Investment Position for BH on CBBH's website in line with Advanced Release Calendar. Generally CBBH meet the delivery deadlines - 85 days acer the reference period for the complete quarterly Intenational Investment Position.
	15. Coherence and comparability
	15.1. Comparability-geographical	Compilation  and dissemination of International Investment Position for BH is in line with BPM6 whica ensures a high degree of comparability with other countries. Currently, the International Investment Position for BH, is presented in relaton to the rest of the world, without geographical breakdown.
	15.2. Comparability-over time	Data are generally considered highly comparable over time. The methodology is revised according to the revnions of the sixth edition of IMF's Balance of Payments and International Investment Position hlanual(BPM6). Backward calculations of time series are provided to ensure full time coherence in a case of methodological changes. Information on data, breaks in series, and methodological notes are provided in the footnotes, published under each data table on Statistics web portal CBBH.
	15.3. Coherence-cross domain	Not applicable.
	15.4. Coherence-internal	Not applicable.
	16. Cost and burden	Not applicable.
	17. Data revision
	17.1. Data revision-policy	In compilation of the quarterly IIP report the data for the previous quarters of the current year are also revised, while together with compilation of HP to- the second quarter of the current year quarterly data are revised for the total of three years backwards. Additionally, data are raased if new statistical standards and concepts are introduced or major changes in methodology are made.
	17.2. Data revision-practice	Quarterly data are revised in accordance with the revisions of Monetary statistics, Direct investment statistics, as well as in accordance with the results of conducted annual surveys for trade credits and advances surveys. Revisions that are related to changes of methodology  and significant  data  revisions are described in detail.
	18. Statistical processing
	18.1. Source data	Direct investment data are collected tough CBBH regular quarterly (on a sample) and annual survey (full coverage of companies with DI exceeding a KM 100,000 threshold) or direct investment. The survey includes financial and non—financial corporations-which have, or are assumed to have, foreign investment from abroad, which invest abroad or are borrowing fandsfrom foreign countries. For the companies with direct investment below than the mentioned threshold, CBBH makes estimates based on data obtained by courts on registered foreign capital in BH. Data on portfolio investment are also obtained through survey on direct  investment. As an additional data source for deposit-taking corporations (DTC) and other financial corporations, Monetary and Financial Statistics (MFS) data are used. Regarding liabilities positions of General government sector data are obtained from Government Finance and Financial Accounts Statistics (GFFAS). Data on position of financial derivatives in BH IIP assets and liabilities are collected though the regular quarterly surveys on DI. In the compilation of IIP for BH the data on other equity, as part of other investment, are obtained from the survey on direct investment conducted in the CBBH and GFFAS for General Government shares in international organizations. The data on positions of currency and deposits for DTC and other financial corporations are obtained from the Monetary and Financial Statistics. These data for General government sector are obtained from CBBH Banking Department.  Data from Bank for intemational Settlements  (BIS) quarterly reports are used as a source of currency and deposits of non-financial corporation.
		Data on loans for DTC are obtained from CBBH MFS, as well as, the quarterly data on loan assets of other financial corporations. Data on loans of General Government sector are provided from GFFAS. Data on liabilities pcsitions of tais item for other sectors are obtained from the CBBH survey on direct investment, which also collects data on other investment of companies with direct investment. To a smaller extent, data are calculated using BOP data on these transactions for nonfinancial corporations and supported by data provided by Entities Ministries of Finance. The data on insurance, pensions and stanoardized guarantee schemes are obtained from SIFS and for households calculated by using BOP data. Data  on  trade credits and  advances for DTC and Other financial corporations are obtained from Monetary and Financial Statistics. However, majority of data, the data for non-financial corporations, are compiled  through the CBBH direct quarterly survey on trade credits anc advance payments. Data on trade credits collected  through  DI survey are compared with individual data collected through survey on trade credits and advance payments and for those companies with overlaps data are treated only as trade credits within direct investments. Data on oae   account receivable - payable are obtained from MFS and BIS quarterly reports, while for General Government sector these data are obtained from GFFAS. All accoimts of reserve assets are kept in the CBBH Banking Department, Monitoring and Analyses Department and Accounting Department. Therefore, data on reserve assets, i.e. positions of international reserves are obtained from the reports of the mentioned departments.
	18.2. Frequency of data collection	Annual and quarterly.
	18.3. Data collection	In the compilation of Intematienal Investment Position, the CBBH uses the following way of collecting data, as it follows: — direct survey (survey on direct investment, survey on trade credits and advance payments), statistical and administrative sources of data (publications of the IMF, BIS back), and — statistics compiled in the CBBH (Monetary and Financial Statistics (MFS), Government Finance and Financial Accounts Statistics (GFFAS), and data received from Banking Department, Cash Management Department,  Monitoring and Analyses   Department, Accounting and Finance Department, and BH Balance of Payments Statistics).
	18.4. Data validation	Data validation implies visual identification of outliers in the original data as well as data aggregated on lower level. Validation also includes monitoring the development of variable within the referent period.
	18.5. Data compilation	Time of recording: in line with the BPM6, recording is on a transaction basis ("accruals principle"), meaning that transactions  have to be recorded when economic value is created, transformed, transferred or extinguished. The main criterion is change of ownership. The change may be legal or economic. Valuation: wherever possible, market values of positions are used in the compilation of IIP. Data collected from different data sources in defined periodicity and validated from several aspects are entered and processed in working document (excel spreadsheet). Currently, the International  Investment  Position,  is presented  in relation to the rest of the world, without geographical breakdown.
	18.6. Adjustment	Coverage adjustments, other economic flow adjustment.
	19. Comment	/