Government Finance Statistics Manual 2014

234 Government Finance Statistics Manual 2014

Table 9.1 Net Acquisition of Financial Assets and Net Incurrence of Liabilities Classifi ed by Instrument

and Residence of the Counterparty

32 Net acquisition of fi nancial assets 33 Net incurrence of liabilities

3201 Monetary gold and Special Drawing Rights (SDRs) 3301 Special Drawing Rights (SDRs)

32011 Monetary gold

32012 Special Drawing Rights (SDRs)

3202 Currency and deposits 3302 Currency and deposits

3203 Debt securities 3303 Debt securities

3204 Loans 3304 Loans

3205 Equity and investment fund shares 3305 Equity and investment fund shares

32051 Equity 33051 Equity

32052 Investment fund shares or units 33052 Investment fund shares or units

3206 Insurance, pension, and standardized guarantee

schemes [GFS]

3306 Insurance, pension, and standardized guarantee

schemes [GFS]

32061 Nonlife insurance technical reserves 33061 Nonlife insurance technical reserves

32062 Life insurance and annuities entitlements 33062 Life insurance and annuities entitlements

32063 Pension entitlements [GFS] 33063 Pension entitlements [GFS]

32064 Claims of pension funds on pension manager 33064 Claims of pension funds on pension manager

32065 Provisions for calls under standardized

guarantee schemes

33065 Provisions for calls under standardized

guarantee schemes

3207 Financial derivatives and employee stock options 3307 Financial derivatives and employee stock options

32071 Financial derivatives 33071 Financial derivatives

32072 Employee stock options 33072 Employee stock options

3208 Other accounts receivable 3308 Other accounts payable

32081 Trade credit and advances 33081 Trade credit and advances

32082 Miscellaneous other accounts receivable 33082 Miscellaneous other accounts payable

321 Domestic debtors 331 Domestic creditors

3211–

3218

Same instrument breakdown as above, but

excluding monetary gold

3312–

3318

Same instrument breakdown as above, but

excluding SDRs

322 External debtors 332 External creditors

3221–

3228

Same instrument breakdown as above 3321–

3328

Same instrument breakdown as above

9.23 When using the cash basis of recording, cash

payments for the settlement of arrears should be re-

corded with a counterpart entry in the relevant cat-

egories of expense, net acquisition of nonfi nancial

assets, or net incurrence of liabilities. Recording ar-

rears in this way recognizes the appropriate economic

nature of these payments since they have not been re-

corded under the appropriate GFS categories in the

past (see also paragraph 7.249).

Classifi cation of Transactions in

Financial Assets and Liabilities by Type

of Financial Instrument and Residence

9.24 Table 9.1 presents the classifi cation of transac-

tions in fi nancial assets by type of fi nancial instrument

and residence. Th is classifi cation is consistent with

the classifi cation of the same fi nancial assets and li-

abilities employed in Chapter 7 (Table 7.9). Chapter 7

also provides full defi nitions of the fi nancial assets or

liabilities included in each category, and those defi -

nitions are not repeated here. Th e remainder of this

section provides guidance only on those transactions

for which the general guidance may not be suffi cient.

9.25 In principle, the classifi cation of transactions

in fi nancial assets and liabilities by residence is based

on the residence of the units that are a party to the

transaction being recorded. Th e classifi cation of stock

positions in fi nancial assets and liabilities in a unit’s

balance sheet (see paragraph 7.264) is based on the

residence of the issuer of fi nancial instruments (as-

sets), and the residence of the holder of the fi nancial

instruments (liabilities). If a transaction in fi nancial