What will change in the selection of ISO country codes?
As of reporting month January 2011, the country code for the Netherlands Antilles (AN) may no longer be used in the e-Line Balance of Payments. Curaçao and Sint Maarten, formerly part of the Netherlands Antilles, will be assigned their own ISO country codes as independent countries. The islands of Bonaire, Sint-Eustatius and Saba, collectively referred to as the BES islands, are legally regarded as special Dutch entities, but for economic and financial statistics will be considered as foreign. They will be assigned a joint ISO country code.
Consequently, starting in the reporting month January 2011, the-line Balance of Payments will feature the following new ISO country codes:
- Curaçao - CW
- Sint Maarten - SX
- BES islands - BQ
How does the e-Line Balance of Payments handle this?
When you open the reporting form for January 2011, the e-Line Balance of Payments will show the end-December 2010 closing positions as the 1 January 2011 opening positions, with the country code AN. For the status shown with country code AN you must assign one of the new country codes: CW, SX or BQ as relevant. If applicable, you must divide the amount that was reported under the obsolete country code.
Technically, the change is as follows:
1. You bring the position (claim or liability) on country code AN to zero by reporting the same amount with opposite sign as “Other changes”.
2. You report the same position – divide the amount if it relates to more than one of the new countries – as “Other changes” with the new country code. Transactions, revaluations, interest transactions and dividends are reported in the usual manner, also under the new country code.
The procedure is the same for quarterly reporters when they report on the first quarter of 2011.
Reporters with ISIN code
In the reporting period (this can be a month or a quarter) in which the responsible numbering organisation (in this case S&P) replaces the ISIN code with country prefix "AN" by an ISIN code with one of the new country codes, you must perform the following action for each ISIN code. At start-up of the report, the e-Line Balance of Payments will show the end position of the previous period on the former ISIN code as the opening position. You must debit this amount via the column “Other changes” using a negative amount so that the end position becomes zero. In the same report, you credit the same amount via the column “Other changes” stating the new ISIN code. Under this new line, you also add any transactions, interest paid and/or received and dividends.