In 1996 the International Monetary Fund (IMF) established its Special Data Dissemination Standard (SDDS) for economic and financial statistics. The Central Bank of Iceland subscribed to the SDDS on June 21, 1996. The standard assumes that specific statistical information is published within a specific time lag from the end of the period which it covers or applies to, in accordance with an advance release calendar. Accordingly, the Bank posts a timetable on its website stating when specific data will be published.
On the Statistics page of its website, the Central Bank of Iceland publishes the following data which are covered by the SDDS:
Credit system: Accounts of the banking system Balance sheet of the Central Bank
Balance of payments and external position:
Balance of payments International reserves and foreign currency liquidity International investment position External debt
Other: Interest rates Share indices
Furthermore, the Central Bank observes the standard by publishing data on international reserves in its monthly press release on the Central Bank of Iceland balance sheet and exchange rate figures on the home page of its website.
In connection with the SDDS, the Central Bank of Iceland, the Ministry of Finance and Statistics Iceland maintain a joint economic and financial data website to disseminate the data covered by the standard.
Besides stipulating publication schedules, the standard requires statistics to be presented in accordance with IMF definitions, to ensure their international comparability.
The IMF website gives further details about the Special Data Dissemination Standard (http://www.dsbb.imf.org). There, and on a separate page with information about methodology and publication practices among subscribers to the standard, are details of data disseminated by the Central Bank of Iceland and other Icelandic institutions which are obliged to comply with it.
