Survey of Deposit-accepting Intermediaries: Chartered Banks, Trust Companies, Caisses Populaires and Credit Unions

Detailed information for 2002

Status:

Inactive

Frequency:

Annual

Record number:

2513

The data from this survey are useful in identifying long-term, industry trends in retail banking, corporate and institutional finance, electronic financial services, treasury and investment banking, and fiduciary services.

Data release - December 10, 2003

Description

This annual survey is a census of the deposit-accepting intermediary population in Canada above a $25 million revenue threshold. Deposit-accepting intermediaries include domestic and foreign banks, foreign bank branches in Canada, trust companies, credit unions (local and central) and caisses populaires. The survey collects national level, fiscal year, consolidated financial information on different elements of the income statement and balance sheet of deposit intermediation; the information is collected by a profile of activity including retail banking, (personal and commercial), corporate and institutional finance, electronic financial services, treasury and investment banking, fiduciary services and other services. The survey also collects non-financial information, for example, type of organization, possible joint ventures, number of employees. The survey is currently administered as part of the Unified Enterprise Survey Program.

The data from this survey are useful in identifying long-term industry trends in retail banking, corporate and institutional finance, electronic financial services, treasury and investment banking, and fiduciary services. Individual establishments can use the data to benchmark their performance in relation to the industry as a whole. The data may be used as inputs to the Canadian System of National Accounts to calculate GDP by industry and for estimates of productivity of the service activities to the Canadian economy. The industry's decision-makers can combine data from this survey with data from other Statistics Canada surveys, such as the Quarterly Survey of Financial Statistics for Enterprises (Survey ID 2501), to obtain a better understanding of certain characteristics of this type of intermediary and to develop a useful decision-making framework. The data also contribute to various economic forecast models such as GDP and inflation calculations that help measure the health of Canada's economy. The statistics are used by a wide variety of economists and industry analysts, including federal and provincial regulatory bodies that monitor financial institutions in Canada. There is also significant international interest in the results of the survey.

Statistical activity

The survey is administered as part of the Unified Enterprise Survey program (UES). The UES program has been designed to integrate, gradually over time, the approximately 200 separate business surveys into a single master survey program. The UES aims at collecting more industry and product detail at the provincial level than was previously possible while avoiding overlap between different survey questionnaires. The redesigned business survey questionnaires have a consistent look, structure and content. The unified approach makes reporting easier for firms operating in different industries because they can provide similar information for each branch operation. This way they avoid having to respond to questionnaires that differ for each industry in terms of format, wording and even concepts.

Reference period: The 12-month fiscal period for which the final day occurs on or between January 1st of the reference year and March 31st of the following year

Collection period: January to June

Subjects

  • Business performance and ownership
  • Financial statements and performance

Data sources and methodology

Target population

All federally and provincially regulated banks, trust companies, "caisses populaires" and credit unions defined by the Office of the Superintendant of Financial Institutions are covered by the survey. Full-service foreign bank branches in Canada were added to the survey population beginning in 2001, as foreign banks started to establish them. Foreign bank branches that are defined as "lending only" under the federal Office of the Superintendent of Financial Institutions are not classified as deposit-accepting and are not within the survey population.

For a brief description of the industries covered by the survey according to the North American Industry Classification System (NAICS), please refer to the link below.

Instrument design

Development of the questionnaire and reporting guide was done in consultation with associations representing the units of interest.

Sampling

This survey is a census with a cross-sectional design.

This methodology does not apply.

Data sources

Responding to this survey is mandatory.

Data are collected directly from survey respondents.

The survey is a mail-out / mail back survey collected on an annual basis. The survey questionnaires are mailed to reporting units approximately within 90 days of the end of the fiscal year. The survey is directed to the financial reporting department. If there is a regulatory body or federation of credit unions or caisses populaires, Statistics Canada chooses the regulatory body or federation to report credit unions in a province.

The respondent has 30 days upon receipt to complete and return the questionnaire to Statistics Canada. A telephone contact is made with non-reporting units during a two-week period around the 30-day cutoff to discuss reporting delinquency and possible special arrangements. A second telephone reminder is sent to persistent non-reporters later in the month subsequent to the 30-day cut-off date.

Respondents can reply to the survey by mail or by Fax. Due to timing constraints, information may be transmitted by telephone to Statistics Canada, but subsequent confirmation is required either by mail or Fax.

View the Questionnaire(s) and reporting guide(s) .

Error detection

There are edits built into the data capture application to compare the entered data against unusual values, as well as to check for logical inconsistencies. Whenever an edit fails, the interviewer is prompted to correct the information (with the help of the respondent when necessary). For most edit failures the interviewer has the ability to override the edit failure if they cannot resolve the apparent discrepancy. Once the data are received back at head office an extensive series of processing steps are undertaken to thoroughly verify each record received. Edits are performed at a micro level to detect records which deviate from the expected, either by exhibiting large year-over-year change, or differing significantly from the remaining units of measurement. All data failing these edits are subject to manual inspection and possible corrective action.

Imputation

Units which do not respond in the reference period are imputed (their characteristics are estimated).

When partial survey data (covering net interest income, non-interest income, provision for credit losses, salaries and wages, pension contributions, other non-interest expenses, profit or loss of segment, average loans, and other assets) are received, the imputation factors are calculated at the respondent level using these partial data. If this information is not available, total net interest income, non-interest income and provision for credit losses are derived from the Quarterly Survey of Financial Statistics for Entrerprises (Survey ID 2501), data from the Office of the Superintendent of Financial Institutions and annual reports. The distribution of income by activity is prorated according to the pattern set the previous year. For records without historical information, a donor imputation system is used based on type and size of reporting unit.

Some units are imputed by applying a growth factor to previously reported data when available. The growth factor is estimated using the survey responses for the units that are most similar to the unit being imputed and other economic indicators.

Estimation

This methodology type does not apply to this statistical program.

Quality evaluation

Prior to dissemination, combined survey results are analyzed for comparability: in general this includes a detailed review of: individual responses (especially for the largest units), general economic conditions, historic trends and comparisons with other data sources.

Disclosure control

Statistics Canada is prohibited by law from releasing any data which would divulge information obtained under the Statistics Act that relates to any identifiable person, business or organization without the prior knowledge or the consent in writing of that person, business or organization. Various confidentiality rules are applied to all data that are released or published to prevent the publication or disclosure of any information deemed confidential. If necessary, data are suppressed to prevent direct or residual disclosure of identifiable data.

Only aggregate tables are released. Response patterns for this survey show a large proportion of respondents reporting contributing data for each tabular cell released.

Revisions and seasonal adjustment

The collected fiscal year data are not calendarized, i.e. not adjusted to correspond to the 12 month period of the calendar year. The data are generally only revised when new information becomes available that improves prior imputations.

Data accuracy

The survey of deposit-accepting intermediaries is not a sample survey and therefore sampling errors do not occur. Non-sampling errors, however may occur. There are potentially four sources of non-sampling error that can be identified in any given survey: coverage error, response error, non-response error and processing error. There are no objective measures of these errors.

Coverage error results from inadequate representation of the intended population. This error may occur during selection of the survey population, or during data collection and processing. In order to avoid such errors, a number of sources describing the population of the industry are used and compared. However, given the relatively small population and high concentration of market share within the deposit-accepting intermediaries industry, the coverage error generally has no material impact on the results of this survey.

Response error may be due to many factors, including faulty design of the questionnaire, respondents' misinterpretation of questions, or respondents' faulty reporting. Frequent changes in company personnel may also lead to response error. Several features are in place to help respondents complete the questionnaire, including logic and consistency checks, and a reporting guide. Responses are compared from year-to-year and any significant deviations are queried by analysts to ensure their accuracy.

Non-response error occurs because not all respondents cooperate fully. This has not been a major concern with this survey. There are unique circumstances where individual respondents are unable to participate fully. To alleviate the impact on the survey, such respondents are usually asked to provide key variables and the others are estimated. Publicly available information is also used for these respondents.

Some of the respondents were unable to provide separate estimates for their activities in electronic financial services and fiduciary services. This may result in some under-estimation of the values for these services and over-estimation of the values for retail banking services and for treasury and investment banking services respectively. The aggregated totals including these segments remain strong.

Processing errors may also occur during coding, entry, editing and tabulation of the data. In this survey, procedures for quality control are used during the processing of data to keep such errors to a minimum.

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