The goal and strategy of monetary policy, its intermediate target as well as the monetary policy instruments must be harmonized with those of the ESCB. The OeNB initiated this development already several years ago in order to ensure as smooth a transition as possible for Austria’s financial system.
Since then, the flow of funds accounts have been used extensively, for example, as a source for producing the capital finance account of the national accounts, and as the only statistical material that provides an overall picture of Japan’s financial structure. However, the present flow of funds accounts require improvement in many respects.