Government Finance Statistics Manual 2014

Glossary 409

Noncultivated biological
resources

Noncultivated biological resources consist of animals, birds, fi sh, and plants that

yield both once-only and repeat products over which ownership rights are en-

forced but for which natural growth or regeneration is not under the direct con-

trol, responsibility, and management of any institutional units ........................7.101

Nonfi nancial assets Nonfi nancial assets are economic assets other than fi nancial assets ...............3.50

Nonfi nancial corporations Nonfi nancial corporations are corporations whose principal activity is the pro-
duction of market goods or nonfi nancial services ..............................................2.114

Nonfi nancial corporations
sector

Th e nonfi nancial corporations sector consists of resident institutional units that

are principally engaged in the production of market goods or nonfi nancial ser-

vices .............................................................................................................................2.52

Nonlife insurance Nonlife insurance is an activity similar to life insurance except that it covers all
other risks, accidents, sickness, fi re, etc. ..............................................................A4.70

Nonlife insurance technical
reserves

Nonlife insurance technical reserves consist of (i) prepayments of net nonlife

insurance premiums and (ii) reserves to meet outstanding nonlife insurance

claims ........................................................................................................................7.183

Nonmarket producer A nonmarket producer provides all or most of its output to others for free or at

prices that are not economically signifi cant ...........................................................2.65

Nonmonetary transactions Nonmonetary transactions are transactions that are not initially stated in units of
currency ......................................................................................................................3.19

Nonparticipating preferred
stocks or shares

Nonparticipating preferred stocks or shares are those that pay a fi xed income but

do not provide for participation in the distribution of the residual value of an in-

corporated enterprise on dissolution ....................................................................7.150

Nonpension social benefi ts Nonpension social benefi ts include payments made to individuals when they are
temporarily unemployed, suff ering from a medical condition, or suff ering from an
event that prevents them from working for a period .......................................... A2.7

Nonperforming loans Nonperforming loans are those for which (i) payments of principal and/or interest

are past due by three months (90 days) or more; or (ii) interest payments equal to

three months (90 days) interest or more have been capitalized (reinvested to the

principal amount) or payment has been delayed by agreement; or (iii) evidence

exists to reclassify a loan as nonperforming even in the absence of a 90-day past

due payment, such as when the debtor fi les for bankruptcy .............................7.262

Nonprofi t institutions Nonprofi t institutions (NPIs) are legal or social entities created for the purpose
of producing or distributing goods and services, but they cannot be a source of
income, profi t, or other fi nancial gain for the institutional units that establish,
control, or fi nance them ...........................................................................................2.36

Nonprofi t institutions serv-
ing households

Th e nonprofi t institutions serving households (NPISHs) sector consists of resi-

dent nonmarket nonprofi t institutions (NPIs) that are not controlled by govern-

ment ............................................................................................................................2.61

Notional resident unit A notional resident unit is a unit identifi ed for statistical purposes to be the resi-

dent owner of immovable assets legally owned by nonresidents ........................2.13