The BIS central bank total assets data set tracks the evolution of the size of central banks' balance sheets across the world. It covers more than 50 advanced and emerging market economies.
This data set contains long annual, quarterly and monthly series. The annual series feature an average length of around a century and, for most of the countries, show data since the establishment of the central bank. The median start year is 1942, and several series go back to the 19th century or earlier. Data with higher frequency often start later than annual series due to the limited availability of historical data.
Data on central banks' balance sheets originate from multiple sources. Financial statements or accounting balance sheets are typically the main source and are compiled in accordance with national accounting standards. Other sources include the monetary presentation or statistical balance sheets.
This paper looks at the relevance of a central bank's own finances for its policy work. Some central banks are exposed to significant financial risks, partly due to the environment in which they operate, and partly due to the nature of policy actions. While financial exposures and losses do not hamper central banks' operational capabilities, they may weaken the effectiveness of central bank policy transmission. Against this backdrop, the paper analyses the determinants of a central bank's financial position and the possible implications of insufficient financial resources for policymaking. It also provides a conceptual framework for considering the question of whether central banks have sufficient financial resources.
Central bank balance sheets have proved crucial in designing and pursuing policies in the wake of financial crises in recent years. Central banks have bought a wide range of financial assets in order to further major macroeconomic and financial stability objectives, which has implied a comparable increase in domestic liabilities. This has led to an unprecedented global expansion of central bank balance sheets. But balance sheets of the current size could create broad policy risks, beyond the increased exposure of the balance sheet to market developments. These risks include inflation, financial instability, distortions in financial markets, and conflicts with government debt managers. Analysing balance sheet-related risks can also help design suitable "exit strategies" from the current policies.
Data are released every quarter. The publication date and the target reference period are shown in the Statistics release calendar. The availability of data also depends on primary sources, including central banks.
The statistics on central bank total assets are from national data sources and international organisations.
The BIS data set presents the total assets of the central bank balance sheet. Financial assets typically include gold, foreign international reserves and claims on government, financial and non-financial sectors. The balance sheet also includes non-financial assets as well as tangible and intangible fixed assets.
The long series on central bank total assets are often the result of splicing several series. They use financial statements as the primary reference. These are typically disclosed at least once per financial year for auditing purposes and have usually been published since the foundation of the central bank. This choice facilitates backdating the series and ensures consistency across time in terms of sources. Yet, for some jurisdictions, higher-frequency data are available only from other sources such as the monetary presentation or statistical balance sheets. In such cases, the BIS constructs the long series by splicing the monthly or quarterly data with historical annual financial statements. For further information, please refer to the documentation on the long series on central bank total assets.
The data set also features break-adjusted series calculated by the BIS. Whenever a break occurs, for example due to a methodological change, we estimate the break-adjusted time series in line with the methodology specified in the BIS Quarterly Review published in March 2013.