Definition: Committee on Monetary, Financial and Balance Of Pa...

Category: Balance of payments

The Committee on Monetary, Financial and Balance Of Payment Statistics (CMFB) shall assist the Commission in drawing up and implementing the multiannual programme of work relating to monetary, financial and balance of payments statistics. 

The Committee shall, in particular, have the task of expressing opinions on the development and coordination of the monetary, financial and balance of payments statistics required for the policies implemented by the Council, the Commission, and the various committees assisting them. 

The Committee may be asked to express opinions on the links between monetary, financial and balance of payments statistics on the one hand, and certain other economic statistics on the other, in particular those on which national accounts are based. The work of this Committee will be coordinated with that of the Statistical Programme Committee. 

The Commission, on its own initiative, and, should the occasion arise, following a request from the Council or from the committees which assist them, shall consult the Committee on: 

(a) the establishment of multiannual Community programmes for monetary, financial and balance of payments statistics; 

(b) the measures which the Commission intends to undertake to achieve the objectives referred to in the multiannual programmes for monetary, financial and balance of payments statistics and the resources and timetables involved; 

(c) any other question, in particular questions of methodology, arising from the establishment or implementation of the Statistical Programme in the relevant fields. 

The Committee may express opinions on its own initiative on any questions relating to the establishment or the implementation of statistical programmes in the monetary, financial and balance of payments fields. http://eur-lex.europa.eu/LexUriServ/site/en/oj/2006/l_332/l_33220061130en00210023.pdf