Provider information - Survey of Financial Information (SFI)
If you have recently received the SFI form from the ABS, this page is designed to help you understand why the collection of these data are so important .
Listed below are:
FREQUENTLY ASKED QUESTIONS ABOUT THE SFI
1. What is the purpose of the SFI?
The survey was established primarily to provide data for the Australian Financial Accounts which are not otherwise available. The Australian Financial Accounts (cat. no. 5232.0), which is part of the National Accounting framework, contains financial profiles of each sub sector of the economy and the market for each conventional financial instrument (eg. equity, bonds etc). There are also tables showing inter-sectoral financial transactions and measures of sectoral financial surpluses and deficits. In theory the scope of the Survey of Financial Information (SFI) is those institutional units transacting in financial assets or liabilities with other institutional units. In practice, the coverage is a small subset of the scope. ABS cover only those units about which suitable data from some other source (eg administrative data from APRA) cannot be obtained. In addition, SFI data is used to provide information about certain segments of the financial markets, namely the managed funds and securitisation markets.
The data from the Survey of Financial Information (SFI) feeds into the following publications:
2. Why is the SFI sent out quarterly?
The SFI is a major contributor to the Financial Accounts of the Australian National Accounts which are published on a quarterly basis as economic indicators in their own right. The reason for the quarterly timetable is to give government, private sector analysts, commentators and other users of the data a regular snapshot of how the Australian economy, and the financial markets in particular, is progressing.
3. Do I have to complete the form?
The ABS relies on the cooperation of organisations in Australia such as yours to provide accurate information as requested. However, the Census and Statistics Act 1905 provides the Australian Statistician with the power, if necessary, to direct you in writing to provide the completed return.
4. Is confidentiality of my data guaranteed?
The ABS has a responsibility to ensure that it provides a quality statistical service whilst also protecting the privacy rights of those individuals or businesses who provide information. Your completed form remains confidential to the ABS and statistics will only be published in the form of aggregated data. The Australian Statistician and staff are bound by the Census and Statistics Act 1905 to observe the strictest confidence in regard to the information supplied by providers. The Act provides for penalties of up to $5,000 or two years in gaol, or both, against officers who breach this rule.
5. Why have the SFI forms changed?
The primary reason for the form changes is due to the updating of the System of National Accounts (SNA), the international conceptual framework that underlies the national accounts. Specifically SNA93 has been replaced with SNA08 to ensure that the accounts remain relevant for increasingly complex financial markets, in a globalised economy. Given these changes, it was also seen as an opportune time to bring the SFI in line with ABS form standards and to introduce electronic reporting, which has had strong provider demand for many years. Please note: there have been no changes to data items on the Investment managers (FA1) and Securitiser (FO1) forms. However they may look different because they are now electronic forms which comply with ABS form design standards.
6. What happens if some of the data requested on the new forms is not available?
The ABS requires information that is as accurate as possible. The more accurate the figures you supply the more accurate the total estimate will be. However, if for some items exact data are not readily available, careful estimates will be accepted.
7. Is there help providing a link between the data requested on the old form and data requested on the new form?
The ABS has provided a data concordance (or mapping) between the old and new forms in this document, except for the FO1, FA1 or FB3 forms. It is intended only as a guide for providers and it is optional whether you decide to use it or not. It is organised using a tab for each of the old form types. Within each old form type it lists the old data item codes with an arrow pointing to all possible item codes on the new forms. Please click to go to the data concordances. If you need help with these concordances, please call 1800 651 552 (freecall excluding mobile phones).
8. Are there any other aides available for completing the forms?
Yes there is the definitions booklet which describes the sectors and financial instruments requested on the form; and there is a concordance available showing the relationship between the counterparties required by ABS and the Global Industry Classification (GICS) used by the ASX. Please click to access the ABS-GICS concordance.
9. Can I get an extension of time to complete the survey?
If you wish to apply for an extension of time to complete this quarters survey please call 1800 651 552. Under certain circumstance a small amount of extra time to complete the survey may be granted.
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FREQUENTLY ASKED QUESTIONS ABOUT THE ELECTRONIC FORMS
PLEASE DO NOT ALTER THE EXCEL FORM SENT TO YOU IN ANY WAY (APART FROM ENTERING DATA) AS DOING SO WILL MAKE YOUR SURVEY RETURN INVALID.
10. Generally, how will the new electronic form work?
At the end of each reference quarter (March, June, September, December) you will be emailed an electronic form (which is based on Microsoft Excel Software) with the relevant reference quarter on the front. This form has embedded data to identify each statistical unit, so it is unique for your organisation and the quarter it is received. It is important that you return the specific form that you are sent each quarter. You will also be emailed an explanatory notes booklet describing the sectors and financial instruments requested on the form. Please complete the form by the due date and lodge it on the ABS Secure Deposit Box. Upon receipt of your data, you will receive an email receipt for your lodgement which you can keep for your records. When the correct, completed form is received by the ABS, software loads its contents directly into ABS systems.
11. How do I save the excel form?
When you receive the emailed form, simply open in excel and 'save as' to your computer's C drive. You may need to change your security settings to enable macros. Go to the 'Tools' menu and select security, then select the appropriate security setting. This is important so you can save the completed form.
12. Can I submit the sample SFI electronic form or the June quarter form?
No you cannot. The sample form, which is easily identifiable with the word "Sample only" diagonally across each page, was meant for information purposes only. Should you try to submit the sample form, it will not be recognised by ABS systems. The June quarter form can only be used for June quarter data. To avoid form submission problems, please submit the September quarter form attached to the email sent on either the 21st September 2009 or later.
13. If I make a mistake can I resubmit the form in the same quarter?
Yes you can. If you submit revisions to the data that has already been reported, then you should submit the whole completed form again. Could you please let us know that you are submitting revisions by making a note in the 'textual data' box when you lodge the form through the Secure Deposit Box.
14. Can I submit different parts of the form at different times?
Yes you can. If you wish to submit parts (or individual worksheets) of the form at different times then you should still submit the whole form, leaving the other (already submitted) parts blank. However please remember all parts should still be completed by the due date.
15. Can I use the form sent in the current quarter for future quarters to lodge my data?
No you cannot. You must use the form emailed to you each quarter. If this is something you would like to set up in the future, please call the ABS on 1800 651 552 so we can gauge the interest in having this as an option.
16. Can I set up my systems to fill in the form automatically from my organisation's accounting software/systems?
Yes you can. There are a few options - you can insert vlookup into the form based on the data item code situated to the right of the data field; or you can create a visual basic macro that fills in the form based on the unique cell references that have been specified to each data field on the form. This data is shown to the right of the formula bar a the top left of the Excel window. However you must ensure you complete Part 1 General Information tab to indicate the reference quarter.
17. How do I lodge the form to the ABS?
The ABS Secure Deposit Box is a mechanism which allows you to securely lodge this form with the ABS through the ABS website. You will require a user name and password to deposit the information. If you have not received these please telephone the ABS on 1800 651 552. For further information please click on How to submit the completed return.
CHECKLIST TO ASSIST IN COMPLETING THE SFI
- Have you indicated the period covered by this form in Question 1 in Part 1 - General Information tab?
- Have you used the form sent to you in the current quarter, not last quarter's form or the sample form?
- Are you lodging the whole form, even if parts are blank? It is important to submit the whole form not separate worksheets by themselves.
- Is the form complete? ie have you completed all required parts?
- Have you checked the data boxes to ensure the results of any formulas have returned valid values?
- Have you checked the data boxes to ensure only numbers are entered where numeric values are expected? For example, please do not write 'nil' or 'null' in data boxes which have zero.
- If you receive more than one electronic form for different entities, please ensure you are using the correct E-form for each entity, as the form(s) that are sent to you are hard coded for a particular entity.
- Have you saved a copy of this quarter's form for your own records and as a reference for next quarter?
- Do you have a current user name and password for data lodgement to the ABS Secure Deposit Box? Please note that lodging your form through the Secure Deposit Box provides security for your data. Please do not reply to the original email address the form was sent from as it is unattended and therefore not secure.
- If you are submitting revisions, have you let the ABS know through the 'textual data' box (where you can write comments) when you are lodging the form through the secure deposit box?
OVERVIEW OF THE RELATIONSHIP BETWEEN THE OLD AND NEW SFI FORMS
SUMMARY OF FORM CHANGES
For the June 2009 reference quarter, the ABS introduced updated forms for the Survey of Financial Information (SFI). The changes have occurred primarily as a result of the revision of international standards to better reflect the changes that have occurred in the financial system during the past 10 years. As the data from the SFI feeds directly into the National Accounts (Financial Accounts) these changes will provide government and economists with a better analysis of the financial markets.
Given these requirements are needed across all forms types within SFI, it was opportune to incorporate other upgrades such as better layouts which reflect ABS form design requirements and the introduction of an E-form. The extent of the changes varies depending on the form type within the Survey of Financial Information, as some forms have not been updated since the early 1990s, while others have had more recent upgrades.
The types of changes to the form can be put into 4 broad categories :
- new data items (usually splits to existing items) as a result of new international requirements as set out in the System of National Accounts (SNA);
- deletion of existing data items which have been deemed as being of a low priority;
- new layout, or "look", to better reflect ABS standards in form design ; and
- the introduction of electronic reporting via an e-form.
DEFINITIONS BOOKLET
The definitions booklet attached here describes the sectors and financial instruments requested on the form.
CONCORDANCES AT THE DATA ITEM LEVEL BETWEEN THE OLD AND NEW SFI FORMS
Institution type | Old form type | New form type | Concordance |
Cash management trusts
Cash common funds | CMQ
FE6 | MMFE | |
Listed public unit trusts (eg. property, mortgage, equity, infrastructure trusts)
Unlisted public unit trusts (eg. retail property, mortgage, equity, balance, securities trusts)
Non cash common funds | LPF
LEF
UPF
UEF
UMF
UOF
FE5 | NMMFE | |
Life insurance companies
Friendly societies | LO1A,B,C
FS4 | LOFSE | |
| Private non-financial corporations | FC1
FC2 | PNFCE | |
| Government and other entities | FTS
FG1
FG2
FG4
FG5
FG7
FF1
FF2
FF4
FF5 | GOVTE | |
| Securitisers | FO1 | FO1E | Data items have not changed |
| Investment managers | FA1 | FA1E | Data items have not changed |
CONCORDANCE BETWEEN ABS COUNTERPARTY AND GICS USED BY THE ASX FOR CLASSIFYING SECURITIES
For those companies that use the Global Industry Classification (GICS) to classify their ASX listed entities, the ABS has devised a concordance between the ABS counterparty classifications and the GICS. It is attached here.
HOW TO SUBMIT THE COMPLETED RETURN
Instructions for electronic lodgement of information via the ABS Secure Deposit Box
The ABS Secure Deposit Box is a mechanism for you to lodge statistical files or text to the appropriate ABS collection area via a secure link. Each file that you lodge is encrypted during transmission to the Secure Deposit Box and is immediately moved into a secure location where its content is automatically scanned for viruses. The following instructions will step you through how to lodge data to the ABS Secure Deposit Box. If you experience any difficulties when lodging your data please contact the ABS on 1800 651 552. Thank you for using the ABS Secure Deposit Box facility.
Detailed guide to using the ABS Secure Deposit Box website
1. Accessing the secure link to the ABS Secure Deposit Box website
To send information securely to the ABS via the internet, open Internet Explorer or your web browser program and go to the internet address (URL):https://www6.abs.gov.au/
2. ABS Secure Deposit Box Login page
The screen image on the next page is of the page which is displayed upon successfully accessing the ABS Secure Deposit Box website.To login to the ABS Secure Deposit Box, enter your username and password in the relevant spaces and click on the login button.
You should have received your Secure Deposit Box username and password details by telephone. The ABS strives to maintain the highest levels of privacy and confidentiality for its data providers. Please do not share your username/password within your organisation as this represents a security risk to your data and our systems.
If you are an existing provider and provide data to more than one ABS Survey, you may have different passwords and user names for each survey. Please ensure that you are using the correct username and password for the survey that you lodging data for. If you are a new user and have just received your username and password, you may have access to submit data for a single survey or multiple surveys with your single username. Repeated attempts to log in using a incorrect username and/or password will result in you being locked out of the system. If you are unsuccessful in accessing the website, please contact the ABS on 1800 651 552 for assistance. Note: The password is case sensitive.
3. ABS Secure Deposit Box Welcome page
After logging onto the ABS Secure Deposit Box, you will be taken to the Welcome page (see image below). The Welcome page provides a brief description of the lodgement of files. If you click on "Lodge Files" you are taken to a Blank Lodgement Page.
4. ABS Secure Deposit Box Data Lodgement page
The image shown below is of the ABS Secure Deposit Box Lodgement page.
The following instructions will step you through how to lodge a single file(s) to the ABS Secure Deposit Box.
Step 1: Business Name for Lodging Data
This allows you to identify your company. If you lodge data for only one provider then this field will complete automatically for you by showing the name of your business. If
you lodge data for more than one provider please ensure you select the correct business provider name from the list.
Step 2: ABS Survey Name
The documentation you received with your username and password included the name of the ABS survey you are lodging data to. If you have only one survey then this field will complete automatically for you. If you provide data to more than one ABS Survey, you may have different passwords and user names for each survey. Please ensure that you select the correct Survey name and are using the username and password that you were provided with for the survey that you are lodging data for.
Step 3: Attaching Files
If you have completed an electronic form for the ABS survey, or have a file that you normally send to the ABS, then these files can be attached in the "Data Files" field.
You can attach up to 8 files at a time. To attach the first file, either type in the location of the file in the "Data Files 1" field or click on the "Browse" button next to this field and search for the file. To attach each separate file, simply select the next "Data Files" field and repeat this process. You can supply textual information in the "Textual Data" field provided. The "Textual Data" field is intended for brief comments only.
Step 4: Lodge Data
To lodge your data, please press the "Lodge Data" button. Unless you press this button, your data will not be sent to the ABS. However, do not press this button until you have attached all your files. Note: You can exit the lodgement page at any stage by clicking on the "Cancel and go to Home Page" link in the bottom right hand corner. If you click on this link before hitting the Lodge Data button, your data will not be sent to the ABS.
5. ABS Secure Deposit Box Thank You page and Exiting the ABS Secure Deposit Box
After successfully lodging your data and or text file(s), you will be taken to the following ABS Secure Deposit Box Thank You page.
As further confirmation that your lodgement has been successful, a receipt number for your lodgement will be sent to you via email within 24 hours. If you do not receive this email within one day of lodging your data, please contact the ABS on 1800 651 552. Failure to receive a confirmation email does not necessarily indicate that your lodgement was not received by the ABS. It may just indicate that the contact details that the ABS has for you need to be updated. The "Lodge another File" link is on the left hand side of the page. Please select this link if you have more files you need to lodge to the ABS Secure Deposit Box. This link will take you back to the Data Lodgement page where you can repeat the process outlined in section 4. If you click on the link to home at the top of this page you will go to the ABS home page, http://www.abs.gov.au /
CONTACTS
If you need help completing this form, submitting the form to the Secure Deposit Box, or want to know more about this survey, please call 1800 651 552 (freecall excluding mobile phones). We can often advise on ways of making this task easier for you.
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