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Classification and terminology of financial assets and liabilities in the updated SNA

Classification and terminology of financial assets and liabilities in the updated SNA. Reimund Mink. Paris, 10 and 11 October 2005. Paper prepared for the meeting of the OECD Working Party on Financial Statistics. Classification and terminology of

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Classification and terminology of financial assets and liabilities in the updated SNA

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  1. Classification and terminology of financial assets and liabilities in the updated SNA Reimund Mink Paris, 10 and 11 October 2005 Paper prepared for the meeting of the OECD Working Party on Financial Statistics

  2. Classification and terminology of financial assets and liabilities in the updated SNA • Current classification and terminology of financial assets and liabilities in the 1993 SNA and in the 1995 ESA • Reasons for changing the 1993 SNA • Decisions taken so far • Proposed classification and terminology of financial assets and liabilities

  3. Classification and terminology of financial assets and liabilities in the updated SNA • One of the issues to be dealt with during the current SNA update project is • the financial asset classification (items 44) • This item is linked to several topics (repurchase agreements (item 1), • nonperforming loans (item 4), guarantees (item 37) and some clarification • issues • A paper was prepared on that issue by the Balance of Payments • Committee (BOPCOM) and forwarded to the Advisory Expert Group (AEG) • meeting for decision in July 2005 • Several papers linked to this issue were also presented at this AEG • meeting and at the previous meeting for discussion or information (traded • loans, index-linked debt instruments, distinction between loans and • deposits) • Suggestion was put forward in the July 2005 AEG meeting to “write a paper • exploring possible options for changes in the classification of financial • instruments more generally”

  4. Current classification and terminology of financial assets and liabilities in the 1993 SNA and the 1995 ESA

  5. Current classification and terminology of financial assets and liabilities in the 1993 SNA and the 1995 ESA

  6. Reasons for changing the 1993 SNA • New developments on the financial markets (financial • innovation and integration) • Developing policy and analytical needs in the • monetary and financial stability areas • Room to make the terminology easier to use and • more descriptive of the various financial assets and • liabilities

  7. Decisions taken so far • AEG papers on: Classification of financial instruments; distinction between deposits and loans; reverse transactions; traded loans; nonperforming loans • Clarification issues on: Breakdown of F.5 (shares and other equity); and on valuation of unquoted shares and other equity • AEG paper on granting and activation of guarantees • e • Developing policy and analytical needs in the monetary and • financial stability areas • Room to make the terminology easier to use and more • descriptive of the various financial assets and liabilities

  8. Proposed classification of financial assets and liabilities in the new SNA

  9. Proposed classification of financial assets and liabilities in the new SNA

  10. Proposed boxes of the new SNA • It is proposed to describe • Measures of money • Concepts of debt • in boxes in the new SNA

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