Government Finance Statistics Manual 2014

410 Government Finance Statistics Manual 2014

Off-market swap An off -market swap is a swap contract that has a nonzero value at inception as a

result of having reference rates priced diff erently from current market values—

that is, “off -the-market” ............................................................................. 7.162, A3.68

On-balance sheet

securitization

On-balance sheet securitization involves debt securities backed by a future rev-

enue stream generated by the assets. Th e assets remain on the balance sheet of the

debt securities issuer (the original asset owner), typically as a separate portfolio.

Th ere is no securitization unit involved ..............................................................A3.66

One-off guarantees One-off guarantees comprise those types of guarantees where the debt instrument

is so particular that it is not possible to calculate the degree of risk associated with

the debt with any degree of accuracy ....................................................................7.256

On-lending (^) On-lending of borrowed funds refers to a resident institutional unit, A (usually
central government), borrowing from another institutional unit(s), B (usually
a nonresident unit), and then on-lending the proceeds from this borrowing to
a third institutional unit(s), C (usually state or local governments, or a public
corporation(s)), where it is understood that unit A obtains an eff ective fi nancial
claim on unit C .......................................................................................................A3.72
Operating leasing Operating leasing is the activity of renting out produced assets under arrange-
ments that provide use of a tangible asset to the lessee, but do not involve the
transfer of the bulk of risks and rewards of ownership to the lessee ................. A4.6
Option contract In an option contract (option), the purchaser acquires from the seller a right to
buy or sell (depending on whether the option is a call (buy) or a put (sell)) a speci-
fi ed underlying item at a strike price on or before a specifi ed date ..................7.209
Original maturity Original maturity is the period from the issue date until the fi nal contractually
scheduled payment date .........................................................................................7.267
Other accounts receivable/
payable
Other accounts receivable/payable consist of trade credit and advances and mis-
cellaneous other items due to be paid or received ..............................................7.224
Other changes in the volume
of assets
Other changes in the volume of assets are any changes in the value of an asset or
liability that do not result from a transaction or a holding gain/loss ........3.35, 10.1
Other current transfers not
elsewhere classifi ed
Other current transfers not elsewhere classifi ed are gift s and transfers of a current
nature (other than grants or subsidies) from individuals, private nonprofi t institu-
tions, nongovernmental foundations, or corporations ......................................5.147
Other economic fl ows Other economic fl ows are changes in the volume or value of assets or liabilities
that do not result from transactions .......................................................................3.31
Other employment-related
social insurance schemes
Other employment-related social insurance schemes derive from an employer-
employee relationship in the provision of pension entitlement and other social
benefi t to employees as part of the conditions of employment ........................A2.40
Other equity Other equity is equity that is not in the form of securities ................................7.169
Other intellectual property
products
Other intellectual property products consist of new information and specialized
knowledge not elsewhere classifi ed .........................................................................7.73
Other public fi nancial
corporations
Other public fi nancial corporations comprise all resident fi nancial corporations,
except public deposit-taking corporations, controlled by general government
units or other public corporations ........................................................................2.121