Securities Statistics

Detailed information for first quarter 2021

Status:

Active

Frequency:

Quarterly

Record number:

5285

The securities statistics cover issuances and holdings of financial negotiable instruments. Securities include debt instruments designed to be traded in financial markets, such as treasury bills, commercial paper and bonds, as well as equity instruments, such as listed shares. The statistics relate to outstanding amounts (stocks) and net transactions (new issues net of redemptions).

Data release - June 8, 2021

Description

The securities statistics cover issuances and holdings of financial negotiable instruments. Definitions and concepts are consistent with the recommendations of the Handbook on Securities Statistics, an internationally agreed framework for classifying securities instruments.

Information on securities statistics is an important element in monetary and financial analysis. Government relies on these statistics to help assess Canada's financial condition and to address financial stability questions. Other users of these statistics include the academic community, the financial community, the media and the public. Finally, they are needed to meet Canada's statistical obligations to supranational organizations, such as the International Monetary Fund (IMF), the Organization for Economic Co-operation and Development (OECD) and the Bank for International Settlements (BIS).

Reference period: Quarter

Collection period: During the last two months of the reference quarter and during the month following the reference quarter

Subjects

  • Balance of international payments
  • Economic accounts
  • Government financial statistics

Data sources and methodology

Target population

The universe includes all Canadian issuers of financial securities. They can be businesses or governments.

Instrument design

This methodology type does not apply to this statistical program.

Sampling

This survey is a census.

This methodology type does not apply to this statistical program.

Data sources

Data collection for this reference period: 2021-02-01 to 2021-04-30

Responding to this survey is mandatory.

Data are collected directly from survey respondents, extracted from administrative files and derived from other Statistics Canada surveys and/or other sources.

Most respondents send electronic files using Statistics Canada's Electronic File Transfer system.

Questionnaires - Data are collected mostly via monthly questionnaires; response is mandatory for the surveyed entities. Questionnaires are sent out on the last business day of the month. Respondents are instructed to send their completed questionnaires to the International Accounts and Trade Division within three weeks after the end of the month. Followed-up done by emails or phone calls.

Questionnaires and communications are offered in both official languages to respondents.

Bank of Canada's Business and Capital Market Statistics (BCMS) for new issues and redemptions of Canadian securities.

Various data sources are combined to compile Securities statistics.

Canada's International Transactions in Securities Monthly Survey (record no. 1535) is used to compile securities statistics. The series on international transactions in securities cover portfolio transactions in stocks, bonds, and money market securities between non-residents and residents of Canada.

Other sources are used such as financial press and private commercial databases.

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

Error detection

The raw data received are reviewed and verified by analysts to ensure consistency and coherence. This includes verifying that detailed transactions add up to totals provided, ensuring geographical, sector and currency codes are valid. The volume and value of stocks and transactions are compared to historical levels. When necessary, there is follow up with the respondent to verify and if necessary correct the data.

As multiple data sources are used, validation of entity and financial instrument characteristics is also carried out to ensure consistency. In case of discrepancies among the data sources, manual editing is done to harmonize the information.

Imputation

This methodology does not apply.

Estimation

Macro adjustments are sometimes made where the data suggest that some transactions may have been missed. Macro adjustments are also made for new issues and retirements. In the case of retirements, the data generated by the system does not include calls by the issuer which occur when interest rates decline.

Quality evaluation

Coverage is validated against administrative data, commercial data and against the aggregates from the National Balance Sheet Accounts (record no. 1806).

Disclosure control

Statistics Canada is prohibited by law from releasing any information it collects which could identify any person, business, or organization, unless consent has been given by the respondent or as permitted by the Statistics Act. Various confidentiality rules are applied to all data that are released or published to prevent the publication or disclosure of any information deemed confidential.

Revisions and seasonal adjustment

Estimates for each quarter are revised when those for subsequent quarters of the same year are published. At the time of the third quarter of each year, revisions are generally made for three years. This is in line with the revision policy of the Canadian Systems of Macroeconomics Accounts (CSMA).

There is no seasonal adjustment in securities data.

Data accuracy

Data coverage is excellent and the quality of the estimates is considered very high.

Processing error may occur at various stages of processing such as data entry, editing and tabulation. Measures have been taken to minimize these errors. Tabulation is automated to eliminate human error.

Response rates:
Close to 100%.

Non-sampling error:
While considerable effort is made to ensure high standards throughout all stages of collection and processing, the resulting estimates are inevitably subject to a certain degree of non-sampling error. Examples of non-sampling error are coverage error, response error and processing error.

Non-response bias:
Non-response error is related to respondents that may refuse to answer, are unable to respond or are too late in reporting. In these cases, data are imputed.

Coverage error:
Errors can result from incomplete listings or from erroneous classifications.

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