Improving the breakdown of the Central Credit Register data by category of enterprises Workshop on “Integrated management of micro-databases – Deepening business intelligence within central banks’ statistical systems” Porto 20-22 June 2013
Villetelle, Jean-Pierre Companies Observatory, Banque de France E-mail:
[email protected] 1
Presentation
1. Definitions 2. Results 3. Conclusion
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Presentation
1. Definitions 2. Results 3. Conclusion
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Definitions of « enterprise » (1/2) •
From administrative sources: legal units
•
From the Council Regulation (EEC) No 696/93 of 15 March 1993 “on the statistical units for the observation and analysis of the production system in the Community”:
“The enterprise is the smallest combination of legal units that is an organizational unit producing goods or services, which benefits from a certain degree of autonomy in decision-making, especially for the allocation of its current resources. An enterprise carries out one or more activities at one or more locations. An enterprise may be a sole legal unit.” (Section III.A)
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1. Definitions of « enterprise » (2/2) “The enterprise thus defined is an economic entity which can therefore, under certain circumstances, correspond to a grouping of several legal units. Some legal units, in fact, perform activities exclusively for other legal units and their existence can only be explained by administrative factors (e.g. tax reasons), without them being of any economic significance. A large proportion of the legal units with no persons employed also belongs to this category. In many cases, the activities of these legal units should be seen as ancillary activities of the parent legal unit they serve, to which they belong and to which they must be attached to form an enterprise used for economic analysis.”
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Ex. From 9 legal units to three enterprises
Banque de France – direction des Entreprises
Paris, 17 octobre 2011 - L’Observatoire des entreprises 6
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The 2008 Law in France – definitions and categories (1/2) The Law for Modernizing the Economy (Loi de Modernisation de l’économie (LME), art. 51. The Statistical Decree Décret n° 2008-1354 du 18 décembre 2008 relatif aux critères permettant de déterminer la catégorie d'appartenance d'une entreprise pour les besoins de l'analyse statistique et économique Three categories are defined: • Small/Medium-sized Enterprises (SMEs) (incl. Micro-Enterprises) • Intermediate-Sized Enterprises (ISEs) – for the French “Entreprise de Taille intermédiaire (ETI) • Large Enterprises (LEs), a new category is introduced Three criteria must be used simultaneously (and not alternatively): • Employment • Turnover • Balance sheet total 7
The 2008 Law in France – definitions and categories (2/2)
Table 1. Size categories according to three criteria: Employment, Turnover and Balance Sheet Total Turnover < 2 €M [2; 50[ €M [50;1,500[ €M
> 1,500 €M
Balance Sheet Total < 2 €M > 2 €M < 2 €M [2; 43] €M > 43 €M < 2 €M [2; 43] €M [43 ; 2,000] €M > 2,000 €M
< 10
Employment (number of employees) 10 to 249 250 to 4 999
> 5 000
micro-enterprises SMEs micro-enterprises
ISEs LEs micro-enterprises
SMEs
(€M = million euros) SMEs: Small/Medium-sized Enterprises ISEs: Intermediate-Sized Enterprises LEs: Large Enterprises (LEs)
Banque de France – direction des Entreprises
Paris, 17 octobre 2011 - L’Observatoire des entreprises 8
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Presentation
1. Definitions 2. Results 3. Conclusion
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Enterprises and legal units in 2009 (Decree n° 2008-1354)
Number of enterprises
Number of legal units
Total Independant LU French Groups Affiliates of foreign groups Total Independant LU French Groups Affiliates of foreign groups
LEs
ISEs
217 s 148 69 24 937 s 22 040 2 897
4 576 490 2 806 1 280 40 141 490 31 893 7 758
SMEs exc. Micro Microenterprises 131 253 100 900 25 781 4 572 188 686 100 900 80 081 7 705
2 555 003 2 545 918 7 324 1 761 2 565 147 2 545 918 17 095 2 134
Total 2 691 049 2 647 308 36 059 7 682 2 818 911 2 647 308 151 109 20 494
Source Insee: Béguin J.-M., Hecquet V., Lemasson J., direction des Statistiques d’entreprises (2012), “Un tissu productif plus concentré qu’il ne semblait. Nouvelle définition et nouvelles
Banque ded’entreprises”, France – direction des Entreprises catégories Insee Première n° 1399 - Mars 2012
Paris, 17 octobre 2011 - L’Observatoire des entreprises 10
http://www.insee.fr/fr/themes/document.asp?ref_id=ip1399
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Enterprises and legal units in 2009 (Decree n° 2008-1354)
Source Insee: Béguin J.-M., Hecquet V., Lemasson J., direction des Statistiques d’entreprises (2012), “Un tissu productif plus concentré qu’il ne semblait. Nouvelle définition et nouvelles
Banque ded’entreprises”, France – direction des Entreprises catégories Insee Première n° 1399 - Mars 2012
Paris, 17 octobre 2011 - L’Observatoire des entreprises 11
http://www.insee.fr/fr/themes/document.asp?ref_id=ip1399
Data sources for the Central Credit Register data
Central Credit Register (outstanding amounts of credit) Fiscal forms (Employment, Turnover, Balance Sheet Total, Financial Linkages) in: Fiben, ALTARES,FARE,ORBIS
pecking order, favouring quality and timeliness Annual update
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Two additional categories
Unreferenced enterprises Other Real state Activities New entities
Housing associations, with non-business activities Missing values
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Results for the Central Credit register Data Table 2. Central Credit Register Data – France, April 2013 A – Breakdown by categorises: Legal units Outstanding amounts, Billion euros Number of Enterprises April 2013
Drawn Credit Outstanding amount April 2013
Independent SMEs
-
151.8
SMEs belonging to a group Sub-Total (SMEs) LEs Holding Companies Real estate activities Total
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64.2 215.9 124.2 109.9 356.5 806.5
Annual change % April 2013 / April 2012 -0.1 3.9 1.1 0.5 -5.5 2.9 0.8
Drawn and Undrawn Credit Outstanding Annual amount change % April 2013 April 2013 / April 2012 168.2 -0.5 75.3 243.4 197.4 210.8 389.1 1 040.8
3.3 0.7 0.4 -6.2 2.9 -0.1
B – Breakdown by categorises: Enterprises Outstanding amounts, Billion euros Number of Enterprises April 2013 SMEs ISEs LEs Sub-Total (SMEs, ISEs and LEs) Other Real Estate companies Unreferenced enterprises Total
1 080 887 4 802 219 1 085 908 471 201 36 998 1 594 107
Drawn Credit Outstanding amount April 2013 357.6 215.1 85.5 658.3 137.3 13.0 808.6
Annual change % April 2013 / April 2012 0.7 -2.5 -6.4 -1.3 3.7 NS 1.1
Drawn and Undrawn Credit Outstanding Annual amount change % April 2013 April 2013 / April 2012 405.1 -0.5 263.4 -1.9 213.4 -5.0 881.9 -2.0 143.4 2.8 18.9 NS 1 044.3 0.3
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Drawn credit – annual changes %
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Presentation
1. Definitions 2. Results 3. Conclusion
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Conclusion
A different picture between legal units and enterprises In terms of activity In terms of credit Issues: Stability of the categories over time Comparability with other sources
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Thank you for attention
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ANNEXES
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Drawn credit – sept. 2012 (annual changes %) 40 35 30 25 20 15 10 5 0 -5 -10 -15 -20
ETI
GE
Divers SCI
TotPME
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Drawn credit matrix – Sept. 2012 Micro TPE
PE
ME
ETI
GE
Divers SCI
(vide)
Micro-entreprises
67,7
4,1
1,3
0,8
0,3
0,0
0,1
0,9
75,1
PME indépendantes hors micro-entreprises
23,3 11,0
7,8
6,1
1,5
0,1
0,0
0,3
50,1
PME appartenant à un groupe hors micro-entreprises
4,4
6,3 10,1 25,3
15,2
2,3
0,0
0,0
63,7
Grandes Entreprises
8,7
1,9
0,5 11,7
65,2 36,5
0,0
0,5
125,1
Holdings et/ou Admin. d entreprises
20,0
5,1
3,9 12,6
39,4 27,0
0,5
1,9
110,2
Activités Immobilières
58,1 11,6
2,4 41,5
92,6 16,5
124,1
4,6
351,3
Activités financières - Admin. Publique (vide)
0,1
0,0
0,0 284,9
285,1
0,0 0,0 0,0 0,0 182,1 40,1 25,9 98,0 214,3 82,4
0,0
0,0
0,0
0,1
0,0 241,7 124,7 534,8
241,7 1302,2
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