This Data Quality Framework (DQF), first published in November 2008, and revised in March 2014 to reflect most recent sources and references, sets out the Statistics and Regulatory Data Division's approach to meeting international quality standards for published statistics. It applies to the regular production of the Bank's monetary and financial statistics.
The Data Quality Framework is based around six dimensions of data quality, which comprise the Eurostat Data Quality Definition:
3. Timeliness and Punctuality
4. Accessibility and Clarity
In 2005, the Eurostat Data Quality Definition became part of the European Statistics Code of Practice applicable to the European Statistical System (ESS), comprising Eurostat and the National Statistical Institutes (NSIs) of the European Union Member States.
Included in the DQF are:
· a description of how the Bank produces monetary and financial statistics, by using its statutory powers for information gathering;
· definitions covering measurement of data coverage and analysis of revisions;
· links to articles on data quality previously published by the Bank and other statistics producers;
· links to the revised Bank's Statistical Code of Practice (2013), with which the Framework is fully compatible;
· links to key international statistical standards, such as the System of National Accounts, and to information on data quality standards maintained by the UK’s Office for National Statistics.