Guideline (EU) 2016/231 of the European Central Bank of 26 November 2015 amending Guideline ECB/2011/23 on the statistical reporting requirements of the European Central Bank in the field of external statistics (ECB/2015/39)
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Address https://gelex.eu/eli/EU/act/o/2015/39@2015-11-26/en
THE GOVERNING COUNCIL OF THE EUROPEAN CENTRAL BANK,
Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 3.1 and 3.3, Articles 5.1, 12.1, 14.3 and Article 16 thereof,
Having regard to Council Regulation (EC) No 2533/98 of 23 November 1998 concerning the collection of statistical information by the European Central Bank, and in particular Articles 4 and 8 thereof,
Whereas:
(1) External statistics are increasingly used for purposes other than monetary policy, including macro-prudential analysis and monitoring of excessive economic imbalances. These activities, as well as other activities in the area of international cooperation and research, will be facilitated by the European Central Bank's publication of the euro area aggregates compiled on the basis of Guideline ECB/2011/23 and of the national data collected in this respect.
(2) Given the balance between merit and costs, the reduction of the reporting period for the transmission of quarterly balance of payments and international investment position data due to apply from 2019 under Guideline ECB/2011/23, will no longer be applied.
(3) Therefore, Guideline ECB/2011/23 should be amended accordingly,
HAS ADOPTED THIS GUIDELINE:
Article 1 Amendments
Guideline ECB/2011/23 is amended as follows:
(1)(17) in Article 1, the following definition is added: publishable national data sets means the data corresponding to Tables 2A and 4A of Annex II, which are subsets of the data presented, respectively, in Tables 2 and 4 of Annex II.;
(2) Article 2 is amended as follows:
(a) paragraph 1 is replaced by the following:
1. The NCBs shall make available to the ECB data on the international transactions, positions and revaluations, as well as on the stocks of reserve assets, other foreign currency assets and reserve-related liabilities. The data shall be made available as defined in Tables 1 to 5 of Annex II and in accordance with the deadlines defined in Article 3.;
(b) the following paragraph 1a is inserted:
1a. The subsets presented in Tables 2A and 4A of Annex II shall be made available to the ECB with the submission of data presented, respectively, in Table 2 and 4 of the same Annex. These include quarterly international transactions and positions which shall be transmitted in accordance with the deadlines defined for the quarterly balance of payments and international investment position set out in Article 3.;
(3) Article 3(2) is amended as follows:
(a)(b) point (b) is replaced by the following: the 82nd calendar day following the end of the quarter to which the data relate, from 2017 onwards.;
(b) point (c) is deleted;
(4) the following Article 3a is inserted:
Article 1 Amendments
(4)
Article 3a Transmission and publication of data by the ECB
1. The ECB shall transmit to the NCBs the euro area aggregates it publishes, as well as the publishable national data sets collected under Article 2.
2. The ECB may publish publishable national data sets following the publication of the respective euro area aggregates.;
Article 1 Amendments
(5) in Article 6, paragraph 3 is replaced by the following:
3. Where the data for an item in Tables 1 to 5 of Annex II are of negligible or of insignificant size for euro area and national statistics, or the data for that item cannot be collected at reasonable cost, best estimates based on sound statistical methodologies shall be permitted provided the analytical value of the statistics is not compromised. In addition, best estimates shall be permitted for the following breakdowns in Tables 1, 2, 2A and 6 of Annex II:
(a) sub-items of primary income on other investment;
(b) sub-items of other primary income and of secondary income;
(c) sub-items of capital transfers in the capital account;
(d) geographical breakdown of financial derivatives liabilities;
(e) reinvested earnings credits on investment funds shares without an ISIN code;
(f) investment income credits on investment funds shares with an ISIN code (until the CSDB is deemed fit for the appropriate derivation of this item);
(g) breakdown of cross-border banknote shipments by denomination.;
(6) Annexes I and II are amended in accordance with the Annex to this Guideline.
Article 2 Taking effect and implementation
1. This Guideline shall take effect on the day of its notification to the national central banks of the Member States whose currency is the euro.
2. The Eurosystem central banks shall comply with this Guideline from 1 June 2016.
Article 3 Addressees
This Guideline is addressed to all Eurosystem central banks.
Done at Frankfurt am Main, 26 November 2015. For the Governing Council of the ECB The President of the ECB Mario Draghi
ANNEX
ANNEX
Annexes I and II to Guideline ECB/2011/23 are amended as follows:
(1) Annex I is amended as follows:
(1)
(a) Section 1.2 is replaced by the following:
(a)
1.2. Quarterly balance of payments statistics
1.2. Objective
The objective of the quarterly balance of payments of the euro area is to provide more detailed information to permit further analysis of international transactions. Quarterly balance of payments data are also the basis for detailed country economic monitoring. These statistics notably contribute to the compilation of the euro area sectoral and financial accounts and to the joint publication of Union/euro area balance of payments in cooperation with the European Commission (Eurostat).
Requirements
Quarterly balance of payments statistics conform as far as possible to international standards (see Article 2(4) of this Guideline). The required breakdown of quarterly balance of payments statistics is presented in Annex II, Tables 2 and 2A. Harmonised concepts and definitions used in the capital and financial accounts are set out in Annex III. The breakdown of the quarterly current account is similar to the one required for the monthly figures. However, for income a more detailed breakdown is needed on a quarterly basis. In the financial account, the ECB follows the requirements of the sixth edition of the International Monetary Fund (IMF) Balance of Payments and International Investment Position Manual (hereinafter the BPM6) for the other investment item. There is a difference in the presentation of the breakdown (i.e. sector as first priority). This sectoral breakdown is however compatible with the breakdown of the BPM6 where instruments have priority. As in the BPM6 presentation, currency and deposits are distinguished from loans and other investments. NCBs are required to distinguish between transactions with euro area Member States and all other international transactions. The statistics on net transactions in portfolio investment assets of the euro area are compiled by aggregating reported net transactions in securities issued by non-euro area residents. Statistics on net transactions in portfolio investment liabilities of the euro area are compiled by consolidation of net transactions in total national liabilities and net transactions in securities issued and purchased by euro area residents. An analogous reporting requirement and compilation method for the aggregate data are applied for portfolio investment income. For direct investment NCBs are required to submit quarterly the following sectoral breakdown: (a) deposit-taking corporations except the central bank; (b) general government; (c) financial corporations other than MFIs; (d) non-financial corporations, households and non-profit institutions serving households. For the portfolio investment assets and other investment items the breakdown of reports according to institutional sectors follows the standard components of the IMF comprising (a) central bank; (b) deposit-taking corporations except the central bank; (c) money market funds; (d) general government; (e) financial corporations other than MFIs; (f) non-financial corporations, households, and non-profit institutions serving households. For compiling the statistics on euro area net transactions in portfolio investment liabilities by sector of the euro area resident issuers, the requirements for quarterly data are similar to those for monthly balance of payments. In line with the system of national accounts, the BPM6 recommends that interest should be recorded on an accruals basis. This requirement affects the current account (investment income) as well as the financial account.;
(b) Section 3 is replaced by the following:
(b)
3. International investment position statistics
3. Objective
The international investment position is a statement of the external assets and liabilities of the euro area as a whole, for monetary policy and exchange market analysis. In particular, it contributes to the assessment of the Member States' external vulnerability and to monitoring the developments in holdings of liquid assets abroad by the money-holding sector. This statistical information is key to the compilation of the rest of the world account in the euro area quarterly financial accounts and may also assist in the compilation of balance of payments flows. Quarterly international investment position statistics are also the basis for detailed country economic monitoring.
Requirements
The NCBs must deliver international investment position statistics on a quarterly basis in respect of end-of-period stock levels and revaluations due to exchange rate or other price changes. The international investment position data conform as far as possible with international standards (see Article 2(4) of this Guideline). The ECB compiles the international investment position for the euro area as a whole. The breakdown of the international investment position for the euro area is presented in Annex II, Tables 4 and 4A. The international investment position shows financial stocks at the end of the reference period, valued at end-period prices. Changes in the value of stocks could be due to the following factors. First, part of the change in the value during the reference period will be due to the financial transactions that have taken place and been recorded in the balance of payments. Second, part of the changes in positions at the beginning and at the end of a given period will be caused by changes in the prices of the financial assets and liabilities shown. Third, in the event that stocks are denominated in currencies other than the unit of account used for the international investment position, changes in the exchange rates vis-à-vis other currencies will also affect the values. Finally, any other change which is not due to the above factors will be considered as due to other changes in volume during the period. A proper reconciliation between the financial flows and stocks of the euro area requires changes in value owing to price, to exchange rate changes and to other changes in volume to be distinguished. Coverage of the international investment position should be as close as possible to that for quarterly balance of payments flows. The concepts, definitions and breakdowns are in line with those used for quarterly balance of payments flows. As far as possible, data on the international investment position should be consistent with other statistics, such as money and banking statistics, financial accounts and national accounts. As for the monthly and quarterly balance of payments, NCBs are required to distinguish in their international investment position statistics between holdings vis-à-vis euro area Member States and all other international positions. A distinction between holdings in securities issued by euro area residents and in securities issued by non-euro area residents is required in the portfolio investment accounts. Statistics on net assets in portfolio investment of the euro area are compiled by aggregating reported net assets in securities issued by non-euro area residents. Statistics on net liabilities in portfolio investment of the euro area are compiled by consolidation of net total national liabilities and net holdings in securities issued and purchased by euro area residents. Portfolio investment assets and liabilities within the international investment position are compiled purely from stock data. NCBs (and other competent statistical authorities where appropriate) collect, as a minimum, quarterly portfolio investment stocks of assets and liabilities on a security-by-security basis according to one of the models set out in the table contained in Annex VI.;
(2) Annex II is amended as follows:
(2) (a) Table 2 1.2.3.a.b.1.2.4. Quarterly balance of payments
Table 2 is replaced by the following: Credit Debit Current account Goods Geo 4 Geo 4 General merchandise on a balance of payments (BOP) basis Geo 3 Geo 3 Net exports of goods under merchanting Geo 3 Goods acquired under merchanting (negative credit) Geo 3 Goods sold under merchanting Geo 3 Non-monetary gold Geo 3 Geo 3 Branding — quasi-transit trade adjustment Geo 4 Geo 4 Services Geo 4 Geo 4 Manufacturing services on physical inputs owned by others Geo 4 Geo 4 Maintenance and repair services not included elsewhere (n.i.e.) Geo 4 Geo 4 Transport Geo 4 Geo 4 Travel Geo 4 Geo 4 Construction Geo 4 Geo 4 Insurance and pension services Geo 4 Geo 4 Financial services Geo 4 Geo 4 Explicitly charged and other financial services Geo 3 Geo 3 Financial intermediation services indirectly measured (FISIM) Geo 3 Geo 3 Charges for the use of intellectual property n.i.e. Geo 4 Geo 4 Telecommunications, computer, and information services Geo 4 Geo 4 Other business services Geo 4 Geo 4 Research and development services Geo 3 Geo 3 Professional and management consulting services Geo 3 Geo 3 Technical, trade-related, and other business services Geo 3 Geo 3 Personal, cultural and recreational services Geo 4 Geo 4 Government goods and services n.i.e. Geo 4 Geo 4 Primary income Compensation of employees Geo 4 Geo 4 Investment income Direct investment Equity Geo 4 Geo 4 Dividends and withdrawals from income of quasi-corporations In direct investment enterprises Geo 3 Geo 3 In direct investor (reverse investment) Geo 3 Geo 3 Between fellow enterprises Geo 3 Geo 3 By resident sector (Sec 2) Geo 2 Geo 2 Reinvested earnings Geo 4 Geo 4 By resident sector (Sec 2) Geo 2 Geo 2 Debt instruments Geo 4 Geo 4 In direct investment enterprises Geo 3 Geo 3 In direct investor (reverse investment) Geo 3 Geo 3 Between fellow enterprises Geo 3 Geo 3 Of which: interest By resident sector (Sec 2) Geo 2 Geo 2 Portfolio investment Equity and investment fund shares Geo 4 Geo 1 Equity securities Dividends By resident sector (Sec 2) Geo 3 Geo 1 By counterpart issuer sector (Sec 2) Geo 2 Investment fund shares Dividends By resident sector (Sec 2) Geo 3 Geo 1 By counterpart issuer sector (Sec 2) Geo 2 Reinvested earnings By resident sector (Sec 2) Geo 3 Geo 1 By counterpart issuer sector (Sec 2) Geo 2 Debt securities Short-term Geo 4 Geo 1 Interest By resident sector (Sec 2) Geo 3 Geo 1 By counterpart issuer sector (Sec 2) Geo 2 Long-term Geo 4 Geo 1 Interest By resident sector (Sec 2) Geo 3 Geo 1 By counterpart issuer sector (Sec 2) Geo 2 Other investment Geo 4 Geo 4 Withdrawals from income of quasi-corporations Geo 3 Geo 3 Interest Geo 3 Geo 3 By resident sector (Sec 2) Geo 2 Geo 2 Of which: interest on SDRs Geo 1 Of which: interest before FISIM Geo 3 Geo 3 By resident sector (Sec 2) Geo 2 Geo 2 Investment income attributable to policyholders in insurance, pension schemes, and standardised guarantee schemes Geo 3 Geo 3 By resident sector (Sec 2) Geo 2 Geo 2 Reserve assets Geo 3 Of which: interest Geo 3 Other primary income Geo 4 Geo 4 General government Geo 3 Geo 3 Taxes on production and on imports Geo 3/Union institutions Geo 3/Union institutions Taxes on products Geo 3/Union institutions Geo 3/Union institutions Other taxes on production Geo 3/Union institutions Geo 3/Union institutions Subsidies Geo 3/Union institutions Geo 3/Union institutions Subsidies on products Geo 3/Union institutions Geo 3/Union institutions Other subsidies on production Geo 3/Union institutions Geo 3/Union institutions Rents Geo 3 Geo 3 Other sectors Geo 3 Geo 3 Taxes on production and on imports Geo 3/Union institutions Geo 3/Union institutions Taxes on products Geo 3/Union institutions Geo 3/Union institutions Other taxes on production Geo 3/Union institutions Geo 3/Union institutions Subsidies Geo 3/Union institutions Geo 3/Union institutions Subsidies on products Geo 3/Union institutions Geo 3/Union institutions Other subsidies on production Geo 3/Union institutions Geo 3/Union institutions Rents Geo 3 Geo 3 Secondary income Geo 4 Geo 4 General government Geo 3 Geo 3 Current taxes on income, wealth, etc. Geo 3 Geo 3 Social contributions Geo 3 Geo 3 Social benefits Geo 3 Geo 3 Current international cooperation Geo 3 Geo 3 Of which: vis-à-vis the Union institutions (excluding the ECB) Union institutions Union institutions Miscellaneous current transfers Geo 3 Geo 3 Value added tax and gross national income-based Union own resources Union institutions Union institutions Other sectors Geo 3 Geo 3 Current taxes on income, wealth, etc. Geo 3 Geo 3 Social contributions Geo 3 Geo 3 Social benefits Geo 3 Geo 3 Net non-life insurance premiums Geo 3 Geo 3 Non-life insurance claims Geo 3 Geo 3 Miscellaneous current transfers Geo 3 Geo 3 Of which: Personal transfers (between resident and non-resident households) Geo 3 Geo 3 Of which: workers' remittances Geo 4 Geo 4 Adjustment for change in pension entitlements Geo 3 Geo 3 Capital account Geo 4 Geo 4 Gross acquisitions/disposals of non-produced non-financial assets Geo 3 Geo 3 Capital transfers Geo 3 Geo 3 General government Geo 3 Geo 3 Capital taxes Geo 3 Geo 3 Investment grants Geo 3 Geo 3 Other capital transfers Geo 3 Geo 3 Of which: debt forgiveness Geo 3 Geo 3 Other sectors Geo 3 Geo 3 Capital taxes Geo 3 Geo 3 Investment grants Geo 3 Geo 3 Other capital transfers Geo 3 Geo 3 Of which: debt forgiveness Geo 3 Geo 3 Net acquisition of financial assets Net incurrence of liabilities Net Financial account Geo 1 Geo 1 Direct investment Geo 4 Geo 4 Equity and investment funds shares Geo 4 Geo 4 Equity Geo 2 Geo 2 Listed Geo 2 Geo 2 Unlisted Geo 2 Geo 2 Other (e.g. real estate) Geo 2 Geo 2 Investment funds shares Geo 2 Geo 2 Equity other than reinvestment of earnings In direct investment enterprises Geo 3 Geo 3 In direct investor (reverse investment) Geo 3 Geo 3 Between fellow enterprises Geo 3 Geo 3 By resident sector (Sec 2) Geo 2 Geo 2 Reinvestment of earnings Geo 4 Geo 4 By resident sector (Sec 2) Geo 2 Geo 2 Debt instruments Geo 4 Geo 4 In direct investment enterprises Geo 3 Geo 3 In direct investor (reverse investment) Geo 3 Geo 3 Between fellow enterprises Geo 3 Geo 3 By resident sector (Sec 2) Geo 2 Geo 2 Portfolio investment Geo 4 Geo 1 Equity and investment fund shares Geo 4 Geo 1 Equity securities By resident sector (Sec 2) Geo 3 Geo 1 Listed Geo 2 Geo 1 Unlisted Geo 2 Geo 1 By counterpart issuer sector (Sec 2) Listed Geo 2 Unlisted Geo 2 Investment fund shares By resident sector (Sec 2) Geo 3 Geo 1 Of which: reinvestment of earnings Geo 3 Geo 1 By counterpart issuer sector (Sec 2) Geo 2 Of which: reinvestment of earnings Geo 2 Debt securities Short-term Geo 4 Geo 1 By resident sector (Sec 2) Geo 3 Geo 1 By counterpart issuer sector (Sec 2) Geo 2 Long-term Geo 4 Geo 1 By resident sector (Sec 2) Geo 3 Geo 1 By counterpart issuer sector (Sec 2) Geo 2 Financial derivatives (other than reserves) and employee stock options By resident sector (Sec 2) Geo 3 Other investment Geo 4 Geo 4 By resident sector (Sec 1) Geo 4 Geo 4 Other equity Geo 3 Geo 3 Currency and deposits By resident sector (Sec 2) Short-term Geo 3 Geo 3 Long-term Geo 3 Geo 3 Loans By resident sector (Sec 2) Short-term Geo 3, IMF Geo 3, IMF Long-term Geo 3, IMF Geo 3, IMF Insurance, pension schemes, and standardised guarantee schemes By resident sector (Sec 2) Geo 3 Geo 3 Trade credits and advances By resident sector (Sec 2) Short-term Geo 3 Geo 3 Long-term Geo 3 Geo 3 Other accounts receivable/payable By resident sector (Sec 2) Short-term Geo 3 Geo 3 Long-term Geo 3 Geo 3 SDRs Geo 1 Reserve assets Geo 3 Balancing items Balance on goods and services Geo 4 Current account balance Geo 1 Net lending (+)/net borrowing (-) (balance from current and capital account) Geo 1 Net lending (+)/net borrowing (-) (from financial account) Geo 1 Net errors and omissions Geo 1
(b) Table 2A 1.2.3.4. Quarterly balance of payments — publishable subset
the following Table 2A is inserted: Credit Debit Balance/Net Current account Geo 2 Geo 1 Goods Geo 2 Geo 2 General merchandise on a balance of payments (BOP) basis Geo 1 Geo 1 Net exports of goods under merchanting Geo 1 Services Geo 2 Geo 2 Manufacturing services on physical inputs owned by others Geo 1 Geo 1 Maintenance and repair services not included elsewhere (n.i.e.) Geo 1 Geo 1 Transport Geo 1 Geo 1 Travel Geo 1 Geo 1 Construction Geo 1 Geo 1 Insurance and pension services Geo 1 Geo 1 Financial services Geo 1 Geo 1 Charges for the use of intellectual property n.i.e. Geo 1 Geo 1 Telecommunications, computer, and information services Geo 1 Geo 1 Other business services Geo 1 Geo 1 Personal, cultural and recreational services Geo 1 Geo 1 Government goods and services n.i.e. Geo 1 Geo 1 Services not allocated Geo 1 Geo 1 Primary income Geo 2 Geo 1 Compensation of employees Geo 2 Geo 2 Investment income Geo 2 Geo 1 Central bank Geo 1 Geo 1 Other MFIs Geo 1 Geo 1 General government Geo 1 Geo 1 Other sectors Geo 1 Geo 1 Financial corporations other than MFIs Geo 1 Geo 1 Non-financial corporations, households, and NPISHs Geo 1 Geo 1 Direct investment Geo 2 Geo 2 Equity Geo 2 Geo 2 Dividends and withdrawals from income of quasi-corporations Geo 1 Geo 1 Reinvested earnings Geo 1 Geo 1 Debt instruments Geo 2 Geo 2 Portfolio investment Geo 2 Geo 1 Equity and investment fund shares Geo 2 Geo 1 Equity securities dividends Geo 1 Geo 1 Investment fund shares income Geo 1 Geo 1 Debt securities Geo 2 Geo 1 Short-term Geo 2 Geo 1 Long-term Geo 2 Geo 1 Other investment Geo 2 Geo 2 Interest Geo 1 Geo 1 Of which: interest before FISIM Geo 1 Geo 1 Reserve assets Geo 1 Other primary income Geo 2 Geo 2 Secondary income Geo 2 Geo 2 General government Geo 1 Geo 1 Other sectors Geo 1 Geo 1 Of which: workers' remittances Geo 1 Geo 1 Capital account Geo 2 Geo 2 Gross acquisitions/disposals of non-produced non-financial assets Geo 1 Geo 1 Capital transfers Geo 1 Geo 1 Net acquisition of financial assets Net incurrence of liabilities Net Financial account Geo 2 Geo 1 Direct investment Geo 2 Geo 2 Other MFIs Geo 1 Geo 1 General government Geo 1 Geo 1 Other sectors Geo 1 Geo 1 Financial corporations other than MFIs Geo 1 Geo 1 Non-financial corporations, households, and NPISHs Geo 1 Geo 1 Equity Geo 2 Geo 2 Debt instruments Geo 2 Geo 2 Portfolio investment Geo 2 Geo 1 Equity and investment fund shares Geo 2 Geo 1 Equity securities Geo 1 Geo 1 Central bank Geo 1 Geo 1 Other MFIs Geo 1 Geo 1 General government Geo 1 Geo 1 Other sectors Geo 1 Geo 1 Financial corporations other than MFIs Geo 1 Geo 1 Non-financial corporations, households, and NPISHs Geo 1 Geo 1 Investment fund shares Geo 1 Geo 1 Central bank Geo 1 Other MFIs Geo 1 Geo 1 General government Geo 1 Other sectors Geo 1 Geo 1 Financial corporations other than MFIs Geo 1 Geo 1 Non-financial corporations, households, and NPISHs Geo 1 Counterpart issuer sector: Other MFIs Geo 1 Debt securities Geo 2 Geo 1 Short-term Geo 2 Geo 1 Central bank Geo 1 Geo 1 Other MFIs Geo 1 Geo 1 General government Geo 1 Geo 1 Other sectors Geo 1 Geo 1 Financial corporations other than MFIs Geo 1 Geo 1 Non-financial corporations, households, and NPISHs Geo 1 Geo 1 Long-term Geo 2 Geo 1 Central bank Geo 1 Geo 1 Other MFIs Geo 1 Geo 1 General government Geo 1 Geo 1 Other sectors Geo 1 Geo 1 Financial corporations other than MFIs Geo 1 Geo 1 Non-financial corporations, households, and NPISHs Geo 1 Geo 1 Financial derivatives (other than reserves) and employee stock options Geo 1 Central bank Geo 1 Other MFIs Geo 1 General government Geo 1 Other sectors Geo 1 Financial corporations other than MFIs Geo 1 Non-financial corporations, households, and NPISHs Geo 1 Other investment Geo 2 Geo 2 Other equity Geo 1 Geo 1 Currency and deposits Geo 2 Geo 2 Central bank Geo 1 Geo 1 Short-term Geo 1 Geo 1 Long-term Geo 1 Geo 1 Other MFIs Geo 1 Geo 1 Short-term Geo 1 Geo 1 Long-term Geo 1 Geo 1 General government Geo 1 Geo 1 Short-term Geo 1 Geo 1 Long-term Geo 1 Geo 1 Other sectors Geo 1 Geo 1 Financial corporations other than MFIs Geo 1 Geo 1 Short-term Geo 1 Geo 1 Long-term Geo 1 Geo 1 Non-financial corporations, households, and NPISHs Geo 1 Geo 1 Short-term Geo 1 Geo 1 Long-term Geo 1 Geo 1 Loans Geo 2 Geo 2 Central bank Geo 1 Short-term Geo 1 Long-term Geo 1 Other MFIs Geo 1 Short-term Geo 1 Long-term Geo 1 General government Geo 1 Geo 1 Short-term Geo 1 Geo 1 Long-term Geo 1 Geo 1 Other sectors Geo 1 Geo 1 Financial corporations other than MFIs Geo 1 Geo 1 Short-term Geo 1 Geo 1 Long-term Geo 1 Geo 1 Non-financial corporations, households, and NPISHs Geo 1 Geo 1 Short-term Geo 1 Geo 1 Long-term Geo 1 Geo 1 Insurance, pension schemes, and standardised guarantee schemes Geo 1 Geo 1 Trade credits and advances Geo 2 Geo 2 Of which: Non-financial corporations, households, and NPISHs Geo 1 Geo 1 Other accounts receivable/payable Geo 1 Geo 1 SDRs Geo 1 Reserve assets Geo 1 Balancing items Balance on goods and services Geo 2 Current account balance Geo 1 Net lending (+)/net borrowing (-) (balance from current and capital account) Geo 1 Net lending (+)/net borrowing (-) (from financial account) Geo 1 Net errors and omissions Geo 1
(c) Table 4 a.b. Quarterly international investment position
Table 4 is replaced by the following: Assets Liabilities Net Positions Revaluations due to exchange rate changes Revaluations due to other price changes Positions Revaluations due to exchange rate changes Revaluations due to other price changes Revaluations due to other price changes Financial account Geo 1 Geo 1 Direct investment Geo 4 Geo 4 Equity and investment funds shares Geo 4 Geo 2 Geo 2 Geo 4 Geo 2 Geo 2 In direct investment enterprises Geo 2 Geo 2 In direct investor (reverse investment) Geo 2 Geo 2 Between fellow enterprises Geo 2 Geo 2 By resident sector (Sec 2) Geo 2 Geo 2 Equity Listed Geo 2 Geo 2 Unlisted Geo 2 Geo 2 Other (e.g. real estate) Geo 2 Geo 2 Investment funds shares Geo 2 Geo 2 Debt instruments Geo 4 Geo 2 Geo 2 Geo 4 Geo 2 Geo 2 In direct investment enterprises Geo 2 Geo 2 In direct investor (reverse investment) Geo 2 Geo 2 Between fellow enterprises Geo 2 Geo 2 By resident sector (Sec 2) Geo 2 Geo 2 Portfolio investment Geo 4 Geo 1 Equity and investment fund shares Geo 4 Geo 1 Equity securities By resident sector (Sec 2) Geo 3 Geo 1 Listed Geo 2 Geo 2 Geo 2 Geo 1 Geo 1 Geo 1 Unlisted Geo 2 Geo 2 Geo 2 Geo 1 Geo 1 Geo 1 By counterpart issuer sector (Sec 2) Listed Geo 2 Geo 2 Geo 2 Unlisted Geo 2 Geo 2 Geo 2 Investment fund shares By resident sector (Sec 2) Geo 2 Geo 2 Geo 2 Geo 1 Geo 1 Geo 1 By counterpart issuer sector (Sec 2) Geo 2 Geo 2 Geo 2 Debt securities Short-term Geo 4 Geo 1 By resident sector (Sec 2) Geo 3 Geo 2 Geo 2 Geo 1 Geo 1 Geo 1 By counterpart issuer sector (Sec 2) Geo 2 Geo 2 Geo 2 By currency: Euro Geo 2 Geo 1 US dollar Geo 2 Geo 1 Other currencies Geo 2 Geo 1 Long-term Geo 4 Geo 1 By resident sector (Sec 2) Geo 3 Geo 2 Geo 2 Geo 1 Geo 1 Geo 1 With redemption due in one year or less Geo 1 With redemption due in more than one year Geo 1 By counterpart issuer sector (Sec 2) Geo 2 Geo 2 Geo 2 With redemption due in one year or less Geo 2 With redemption due in more than one year Geo 2 By currency: Euro Geo 2 Geo 1 US dollar Geo 2 Geo 1 Other currencies Geo 2 Geo 1 Financial derivatives (other than reserves) and employee stock options Geo 4 Geo 4 By resident sector (Sec 2) Geo 2 Geo 2 Geo 2 Other investment Geo 4 Geo 4 By resident sector (Sec 1) Geo 4 Geo 4 By resident sector (Sec 2) Geo 2 Geo 2 Geo 2 Geo 2 Other equity Geo 2 Geo 2 Geo 2 Geo 2 Geo 2 Geo 2 Currency and deposits Geo 4 Geo 2 Geo 4 Geo 2 By resident sector (Sec 2) Short-term Geo 3 Geo 3 Long-term Geo 3 Geo 3 Loans Geo 4 Geo 2 Geo 4 Geo 2 By resident sector (Sec 2) Short-term Geo 3, IMF Geo 3, IMF Long-term Geo 3, IMF Geo 3, IMF Insurance, pension schemes, and standardised guarantee schemes Geo 2 Geo 2 Geo 2 Geo 2 By resident sector (Sec 2) Geo 3 Geo 3 Trade credits and advances Geo 4 Geo 2 Geo 4 Geo 2 By resident sector (Sec 2) Short-term Geo 3 Geo 3 Long-term Geo 3 Geo 3 Other accounts receivable/payable Geo 2 Geo 2 By resident sector (Sec 2) Short-term Geo 3 Geo 3 Long-term Geo 3 Geo 3 SDRs Geo 1 Geo 1
(d) Table 4A Quarterly international investment position — publishable subset
the following Table 4A is inserted: Positions Assets Liabilities Net Financial account Geo 2 Geo 1 Direct investment Geo 2 Geo 2 Other MFIs Geo 1 Geo 1 General government Geo 1 Geo 1 Other sectors Geo 1 Geo 1 Financial corporations other than MFIs Geo 1 Geo 1 Non-financial corporations, households, and NPISHs Geo 1 Geo 1 Equity Geo 2 Geo 2 Debt instruments Geo 2 Geo 2 Portfolio investment Geo 2 Geo 1 Equity and investment fund shares Geo 2 Geo 1 Equity securities Geo 1 Geo 1 Central bank Geo 1 Geo 1 Other MFIs Geo 1 Geo 1 General government Geo 1 Geo 1 Other sectors Geo 1 Geo 1 Financial corporations other than MFIs Geo 1 Geo 1 Non-financial corporations, households, and NPISHs Geo 1 Geo 1 Investment fund shares Geo 1 Geo 1 Central bank Geo 1 Other MFIs Geo 1 Geo 1 General government Geo 1 Other sectors Geo 1 Geo 1 Financial corporations other than MFIs Geo 1 Geo 1 Non-financial corporations, households, and NPISHs Geo 1 Counterpart issuer sector: Other MFIs Geo 1 Debt securities Geo 2 Geo 1 Short-term Geo 2 Geo 1 Central bank Geo 1 Geo 1 Other MFIs Geo 1 Geo 1 General government Geo 1 Geo 1 Other sectors Geo 1 Geo 1 Financial corporations other than MFIs Geo 1 Geo 1 Non-financial corporations, households, and NPISHs Geo 1 Geo 1 Long-term Geo 2 Geo 1 Central bank Geo 1 Geo 1 Other MFIs Geo 1 Geo 1 General government Geo 1 Geo 1 Other sectors Geo 1 Geo 1 Financial corporations other than MFIs Geo 1 Geo 1 Non-financial corporations, households, and NPISHs Geo 1 Geo 1 Financial derivatives (other than reserves) and employee stock options Geo 1 Central bank Geo 1 Other MFIs Geo 1 General government Geo 1 Other sectors Geo 1 Financial corporations other than MFIs Geo 1 Non-financial corporations, households, and NPISHs Geo 1 Other investment Geo 2 Geo 2 Other equity Geo 1 Geo 1 Currency and deposits Geo 2 Geo 2 Central bank Geo 1 Geo 1 Short-term Geo 1 Geo 1 Long-term Geo 1 Geo 1 Other MFIs Geo 1 Geo 1 Short-term Geo 1 Geo 1 Long-term Geo 1 Geo 1 General government Geo 1 Geo 1 Short-term Geo 1 Geo 1 Long-term Geo 1 Geo 1 Other sectors Geo 1 Geo 1 Financial corporations other than MFIs Geo 1 Geo 1 Short-term Geo 1 Geo 1 Long-term Geo 1 Geo 1 Non-financial corporations, households, and NPISHs Geo 1 Geo 1 Short-term Geo 1 Geo 1 Long-term Geo 1 Geo 1 Loans Geo 2 Geo 2 Central bank Geo 1 Short-term Geo 1 Long-term Geo 1 Other MFIs Geo 1 Short-term Geo 1 Long-term Geo 1 General government Geo 1 Geo 1 Short-term Geo 1 Geo 1 Long-term Geo 1 Geo 1 Other sectors Geo 1 Geo 1 Financial corporations other than MFIs Geo 1 Geo 1 Short-term Geo 1 Geo 1 Long-term Geo 1 Geo 1 Non-financial corporations, households, and NPISHs Geo 1 Geo 1 Short-term Geo 1 Geo 1 Long-term Geo 1 Geo 1 Insurance, pension schemes, and standardised guarantee schemes Geo 1 Geo 1 Trade credits and advances Geo 2 Geo 2 Of which: Non-financial corporations, households, and NPISHs Geo 1 Geo 1 Other accounts receivable/payable Geo 1 Geo 1 SDRs Geo 1