For the purposes of this statistics, 'securities' means debt securities, equity securities and investment fund shares/units.
Securities statistics collects data on:
- issues of the securities of resident issuers (in domestic and international capital markets), excluding investment funds' shares/units;
- holdings (purchase and sale) of resident issuers' securities, excluding investment funds' shares/units; and
- residents' holdings (purchase and sale) (excluding CNB) of non-resident securities, including non-resident investment fund shares/units, where ownership relationship equals or exceeds 10% of the issued share capital (portfolio investments) does not exist.
The Croatian National Bank's investments in securities are not within the scope of securities statistics. However, the issues of negotiable debt securities of the Croatian National Bank would be covered by this statistics. The issued shares/units of resident investment funds as well as investments in ownership-related non-resident joint stock companies are not covered by securities statistics data, but are monitored within separate investment funds' statistics (Tables E1 and E2 of the Statistical survey), i.e. direct investment statistics (Table H4 of the Statistical survey).
Securities statistics shows repo transactions as direct purchase and sale transactions (except regular and structural reverse repo transactions of the CNB), changing the investor in the security. Although the above does not completely comply with statistic standards, in the absence of a detailed statistics of repo transactions (at the level of the ISIN and the investor), consistency of data on investment in securities issued in the domestic market is maintained in this way and the total amount of the securities issue is allocated by investor at all times.
Debt and equity securities issues tables are available from 31 December 2011, while debt and equity securities holdings tables are available from 31 December 2013. Namely, from December 2013 custodian data showing investor distribution on the password protected custody accounts for which end investor data are unknown to the CDCC are available.
The investor distribution for resident debt securities issued in international capital markets is based on data on residents' investments from all available statistics (monetary statistics, pension and investment fund statistics, insurance corporation statistics and the reports of RC custodians). In the absence of additional information, the part of investment not allocated to resident investors is attributed to the investors of the country of the market in which the security is issued/quoted (Luxembourg).
Investments by international financial institutions in securities issued in the RC are shown according to the country in which the institution has its head office (for instance, EBRD's investments are shown under UK residents' investments).
The data on residents' investments in the securities of non-resident issuers in international capital markets are available from 31 December 2013.
The currency of issue is the currency in which the payment liability is denominated. In the event of the issue of bonds denominated in the euro payable in kuna (currency clause), the euro is the currency of issue.
The market valuation of investments in securities implies the valuation by using the available market prices from the Zagreb Stock Exchange, for securities issued in the domestic capital market, i.e. by using other available sources, primarily the Centralised Securities Database (CSDB) of the European Central Bank, for securities issued in international capital markets. When the market price for a specific security is not available, it is valued at nominal value.