Government Finance Statistics Manual 2014

192 Government Finance Statistics Manual 2014

Table 7.9 Classifi cation of Financial Assets and Liabilities by Instrument and Residence of the

Counterparty

62 Financial assets 63 Liabilities

6201 Monetary gold and Special Drawing Rights

(SDRs)

6301 Special Drawing Rights (SDRs)

62011 Monetary gold

62012 Special Drawing Rights (SDRs)

6202 Currency and deposits 6302 Currency and deposits

6203 Debt securities 6303 Debt securities

6204 Loans 6304 Loans

6205 Equity and investment fund shares 6305 Equity and investment fund shares

62051 Equity 63051 Equity

62052 Investment fund shares or units 63052 Investment fund shares or units

6206 Insurance, pension, and standardized

guarantee schemes [GFS]

6306 Insurance, pension, and standardized

guarantee schemes [GFS]

62061 Nonlife insurance technical reserves 63061 Nonlife insurance technical reserves

62062 Life insurance and annuities entitlements 63062 Life insurance and annuities entitlements

62063 Pension entitlements [GFS] 63063 Pension entitlements [GFS]

62064 Claims of pension funds on pension

manager

63064 Claims of pension funds on pension

manager

62065 Provisions for calls under standardized

guarantee schemes

63065 Provisions for calls under standardized

guarantee schemes

6207 Financial derivatives and employee stock

options

6307 Financial derivatives and employee stock

options

62071 Financial derivatives 63071 Financial derivatives

62072 Employee stock options 63072 Employee stock options

6208 Other accounts receivable 6308 Other accounts payable

62081 Trade credit and advances 63081 Trade credit and advances

62082 Miscellaneous other accounts receivable 63082 Miscellaneous other accounts payable

621 Domestic debtors 631 Domestic creditors

6212–

6218

Same instrument breakdown as above, but

excluding monetary gold and SDRs

6312–

6318

Same instrument breakdown as above, but

excluding SDRs

622 External debtors 632 External creditors

6221–

6228

Same instrument breakdown as above 6321–

6328

Same instrument breakdown as above

and unallocated gold accounts with nonresidents that

give title to claim the delivery of gold.^33 All monetary

gold is included in reserve assets or is held by interna-

tional fi nancial organizations. Only gold that is held

as a fi nancial asset and as a component of reserve as-

sets is classifi ed as monetary gold. Th erefore, except in

limited institutional circumstances,^34 gold bullion is a

fi nancial asset only for the central bank or central gov-

ernment. Deposits, loans, and securities denominated

in gold are treated, respectively, as deposits, loans, and

securities denominated in foreign currencies, and not

(^33) See the BPM6, paragraphs 5.74–5.78, for a detailed discussion
of gold bullion and gold accounts.
(^34) For example, gold held by a commercial bank but under the
control of the monetary authorities.
as monetary gold, unless held as unallocated gold ac-
counts by monetary authorities as reserve assets.
7.127 Allocated gold accounts provide ownership
of a specifi c piece of gold. Th e ownership of the gold
remains with the entity placing it for safe custody.
When held as reserve assets, allocated gold accounts
are classifi ed as monetary gold. Otherwise, allocated
gold accounts are treated as representing the owner-
ship of a nonfi nancial asset. In contrast, unallocated
gold accounts represent a claim against the account
custodian to deliver gold. For these accounts, the ac-
count provider holds title to a reserve base of physical
gold and issues claims to account holders denominated
in gold. When held as reserve assets, unallocated gold
accounts are classifi ed as monetary gold. Unallocated