Guideline of the European Central Bank of 5 September 2008 amending Guideline ECB/2005/5 of 17 February 2005 on the statistical reporting requirements of the European Central Bank and the procedures for exchanging statistical information within the European System of Central Banks in the field of government finance statistics (ECB/2008/7)
Date: 2008-09-05
Institutions: European Central Bank
Subjects: EU Member State, European Central Bank, European System of Central Banks, central bank, disclosure of information, exchange of information, financial statistics, public finance

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(Acts adopted under the EC Treaty/Euratom Treaty whose publication is not obligatory)

II

GUIDELINES

EUROPEAN CENTRAL BANK

GUIDELINE OF THE EUROPEAN CENTRAL BANK

of 5 September 2008

amending Guideline ECB/2005/5 of 17 February 2005 on the statistical reporting requirements of
the European Central Bank and the procedures for exchanging statistical information within the
European System of Central Banks in the field of government finance statistics

(ECB/2008/7)

(2008/802/EC)

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 5.1 and 5.2, Article 12.1 and Article 14.3 thereof,

Whereas:

(1)

for

reporting

requirements of

Guideline ECB/2005/5 of 17 February 2005 on the
the European
statistical
exchanging
Central Bank and the procedures
statistical
information within the European System of
Central Banks in the field of government statistics (1)
requires data to be collected on the government debt
held by non-residents of a Member State, broken down
into debt held by non-residents within and outside the
euro area. This enables total euro area government debt
held by non-euro area residents to be compiled by
consolidating intra-euro area positions. This
is no
longer needed because since March 2008, as a result of
the implementation of security-by-security data collection
systems combined with the use of the Centralised Secu­
rities Database (CSDB), the total euro area government
debt held by non-euro area residents is published as part
investment position.
of
Guideline ECB/2004/15 of 16 July 2004 on the statistical
reporting requirements of the European Central Bank in
the field of balance of payments and international

the euro area international

data

these

and the

international
investment position statistics,
reserves template (2) provides for the data required for
this statistic. Moreover, the envisaged further develop­
ment of
collection
security-by-security
systems and the CSDB should in due time enable addi­
to be compiled on the holdings of
tional details
government securities by country and sector. Therefore,
since references to ‘Debt held by non-residents inside the
euro area’ and ‘Debt held by non-residents outside the
euro area’ are no longer necessary, they should be deleted
from Annexes I and II
to Guideline ECB/2005/5 to
minimise the reporting burden.

(2)

The derogations listed in Annex IV expire at the end of
September 2008 making Annex IV redundant,

HAS ADOPTED THIS GUIDELINE:

Guideline ECB/2005/5 is amended as follows:

Article 1

1. Annexes I and II are replaced by the Annexes to this

Guideline.

2. Annex IV is deleted.

This Guideline shall enter into force on 1 October 2008.

Article 2

(1) OJ L 109, 29.4.2005, p. 81.

(2) OJ L 354, 30.11.2004, p. 34.

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This Guideline applies to all Eurosystem central banks.

Article 3

Done at Frankfurt am Main, 5 September 2008.

For the Governing Council of the ECB
The President of the ECB

Jean-Claude TRICHET

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ANNEX I

‘ANNEX I

DATA REPORTING REQUIREMENTS

The complete data set comprises revenue and expenditure statistics (Tables 1A, 1B and 1C), deficit-debt adjustment
statistics (Tables 2A and 2B) and debt statistics (Tables 3A and 3B). Key categories are shown in bold, while the other
categories are secondary. Partial data sets comprise at least the key categories under revenue and expenditure statistics,
deficit-debt adjustment statistics or debt statistics. The categories refer to the general government sector unless stated
otherwise.

REVENUE AND EXPENDITURE STATISTICS

Table 1A

Deficit (–) or surplus (+)

1 = 7 – 8 = 2 + 3 + 4 + 5

Category

Number and linear relation

Deficit (–) or surplus (+) of central government

Deficit (–) or surplus (+) of state government

Deficit (–) or surplus (+) of local government

Deficit (–) or surplus (+) of social security funds

Primary deficit (–) or surplus (+)

Total revenue

Total expenditure

Current revenue

Direct taxes

of which payable by corporations

of which payable by households

Indirect taxes

of which value-added tax

Social contributions

of which employers' actual social contributions

of which employees' social contributions

Other current revenue

of which interest receivable

Sales

Current expenditure

Current transfers

Social payments

Subsidies payable

Other current transfers payable

Interest payable

2

3

4

5

6 = 1 + 26

7 = 9 + 31

8 = 21 + 33

9 = 10 + 13 + 15 + 18 + 20

10

11

12

13

14

15

16

17

18

19

20

21 = 22 + 26 + 27 + 29

22 = 23 + 24 + 25

23

24

25

26

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Category

Number and linear relation

Compensation of employees

of which wages and salaries

Intermediate consumption

Gross savings

Capital revenue

of which capital taxes

Capital expenditure

Investment

Other net acquisitions of non-financial assets

Capital transfers payable

Memorandum items

EDP deficit (–) or surplus (+)

EDP interest payable

Proceeds from the sale of UMTS licences

Actual social contributions

Social benefits other than social transfers in kind

Gross domestic product

Gross domestic product at constant prices

Government investment at constant prices

27

28

29

30 = 9 – 21

31

32

33 = 34 + 35 + 36

34

35

36

37

38

39

40

41

42

43

44

Payments by Member State to European Union budget

1 = 2 + 4 + 5 + 7

Category

Number and linear relation

Table 1B

Indirect taxes receivable by EU budget

of which VAT received by EU budget

2

3

Current international cooperation payable by government to EU budget 4

Miscellaneous current transfers payable by government to EU budget

of which EU fourth own resource

Capital transfers payable by government to EU budget

5

6

7

EU expenditure in Member State

Subsidies payable by EU budget

Current transfers payable by EU budget to government

Current transfers payable by EU budget to non-government units

Capital transfers payable by EU budget to government

Capital transfers payable by EU budget to non-government units

8 = 9 + 10 + 11 + 12 + 13

9

10

11

12

13

Net receipts from EU budget (net receiver +, net payer –)

14 = 8 – 1

Memorandum item

Own resources collection costs

15

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Table 1C

Category

Number and linear relation

Final consumption expenditure

Individual consumption expenditure

Collective consumption expenditure

Compensation of employees

Intermediate consumption

Social transfers in kind supplied via market producers

Consumption of fixed capital

Taxes on production paid minus subsidies received

Net operating surplus

Sales

Memorandum item

1 = 2 + 3 =
4 + 5 + 6 + 7 + 8 + 9 – 10

2

3

4 = [1A.27] (1)

5 = [1A.29]

6

7

8

9

10 = [1A.20]

Final consumption expenditure at constant prices

11

(1) [x.y] refers to the category number y of Table x.

DEFICIT-DEBT ADJUSTMENT STATISTICS

Table 2A

Category

Number and linear relation

Deficit (–) or surplus (+)

Adjustment between financial and non-financial accounts

Net transactions in financial assets and liabilities

1 = [1A.1]

2 = 1 – 3

3 = 4 – 15

Transactions in financial assets (consolidated)

4 = 5 + 6 + 7 + 8 + 9 + 13

Transactions in currency and deposits

Transactions in securities other than shares — short and long-term
securities

Transactions in financial derivatives

Transactions in loans

Transactions in shares and other equity

Privatisations

Equity injections

Other

Transactions in other financial assets

of which accrued taxes minus cash tax receipts

5

6

7

8

9

10

11

12

13

14

Transactions in liabilities (consolidated)

15 = 16 + 17 + 18 + 19 + 20 + 22

Transactions in currency and deposits

Transactions in securities other than shares — short-term securities

16

17

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Category

Number and linear relation

Transactions in securities other than shares — long-term securities

Transactions in financial derivatives

Transactions in loans

of which loans from central bank

Transactions in other liabilities

18

19

20

21

22

Transactions in debt instruments (consolidated)
= general government borrowing requirement (GGBR)

23 = 16 + 17 + 18 + 20
23 = 25 + 26 + 27
23 = 2 – 1 + 4 – 19 – 22

Transactions in long-term debt instruments

Transactions in debt instruments denominated in national currency

Transactions in debt instruments denominated in a participating foreign
currency (1)

24

25

26

instruments denominated in a non-participating

27

Transactions in debt
foreign currency

Other flows

Valuation effects on debt

Foreign exchange holding gains and losses

Other valuation effects — face value

Other changes in volume of debt

Change in debt

28 = 29 + 32

29 = 30 + 31

30

31

32

33 = 23 + 28
33 = 2 – 1 + 4 – 19 – 22 + 28

(1) To be reported for the years before the Member State became a participating Member State.

Transactions in debt instruments — non-consolidated

1 = 2 + 3 + 4 + 5 + 6

Category

Number and linear relation

Table 2B

Transactions in currency and deposits (liabilities) — non-consolidated

Transactions in short-term securities (liabilities) — non-consolidated

Transactions in long-term securities (liabilities) — non-consolidated

Transactions in loans from central bank

Transactions in other loans (liabilities) — non-consolidated

2

3

4

5

6

Consolidating transactions

Consolidating transactions – currency and deposits

Consolidating transactions — short-term securities

Consolidating transactions — long-term securities

7 = 8 + 9 + 10 + 11

8 = 2 – [2A.16]

9 = 3 – [2A.17]

10 = 4 – [2A.18]

Consolidating transactions — loans

11 = 6 – [2A.20] – [2A.21]

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DEBT STATISTICS

Table 3A

Category

Number and linear relation

Debt

Debt — currency and deposits (liabilities)

Debt — short-term securities (liabilities)

Debt — long-term securities (liabilities)

Debt — loans from central bank (liabilities)

Debt — other loans (liabilities)

1 = 2 + 3 + 4 + 5 + 6
= 7 + 12 = 13 + 14 + 15
= 16 + 17 = 19 + 20 + 22
= 24 + 25 + 26 + 27

2

3

4

5

6

Debt held by residents of the Member State

7 = 8 + 9 + 10 + 11

Debt held by central bank

Debt held by other monetary financial institutions

Debt held by other financial institutions

Debt held by other residents of the Member State

Debt held by non-residents of the Member State

Debt denominated in national currency

Debt denominated in a participating foreign currency

Debt denominated in a non-participating foreign currency

Short-term debt

Long-term debt

of which variable interest rate

Debt with residual maturity up to one year

Debt with residual maturity over one and up to five years

of which variable interest rate

Debt with residual maturity over five years

of which variable interest rate

Central government debt component

State government debt component

Local government debt component

Social security funds debt component

Memorandum items

Average residual maturity of debt

Debt — zero-coupon bonds

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24 = [3B.7] – [3B.15]

25 = [3B.9] – [3B.16]

26 = [3B.11] – [3B.17]

27 = [3B.13] – [3B.18]

28

29

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Table 3B

Category

Number and linear relation

Debt (non-consolidated)

Consolidating elements

Consolidating elements — currency and deposits

Consolidating elements — short-term securities

Consolidating elements — long-term securities

Consolidating elements — loans

Debt issued by central government

of which held by other government sub-sectors

Debt issued by state government

of which held by other government sub-sectors

Debt issued by local government

of which held by other government sub-sectors

Debt issued by social security funds

of which held by other government sub-sectors

Memorandum items

Holdings by central government of debt issued by units in other government
sub-sectors

Holdings by state government of debt issued by units in other government sub-
sectors

Holdings by local government of debt issued by units in other government sub-
sectors

Holdings by social security funds of debt issued by units in other government
sub-sectors

1 = 7 + 9 + 11 + 13

2 = 3 + 4 + 5 + 6 = 8 + 10 + 12 + 14
= 15 + 16 + 17 + 18

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18’

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ANNEX II

‘ANNEX II

METHODOLOGICAL DEFINITIONS

1. Methodological references

The categories detailed in Annex I are, in general, defined by reference to Annex A to the ESA 95 and/or to Council
Regulation (EC) No 3605/93 of 22 November 1993 on the application of the Protocol on the excessive deficit procedure
annexed to the Treaty establishing the European Community (1). Complementary methodological definitions are laid
down in Article 1 of this Guideline. In particular, the codes referring to sectors and subsectors are detailed in the
following table.

Public

National private

Under foreign
control

S.11001

S.11002

S.11003

S.12201

S.12202

S.12203

S.12301

S.12302

S.12303

S.12401

S.12402

S.12403

S.12501

S.12502

S.12503

Sectors and subsectors in the ESA 95

Total economy

Non-financial corporations

Financial corporations

Central bank

Other monetary financial institutions

Other financial intermediaries, except insurance
corporations and pension funds

Financial auxiliaries

Insurance corporations and pension funds

General government

Central government

State government

Local government

Social security funds

Households

Non-profit institutions serving households

Rest of the world

The EU

EU Member States

The institutions of the EU

Third countries and international organisations

S.1

S.11

S.12

S.121

S.122

S.123

S.124

S.125

S.13

S.1311

S.1312

S.1313

S.1314

S.14

S.15

S.2

S.21

S.211

S.212

S.22

2. Definition of the categories (2)

Table 1A

1. Deficit (-) or surplus (+) [1A.1] is equal to net lending (+)/net borrowing (-) (B.9) of S.13.

2. Deficit (-) or surplus (+) of central government [1A.2] is equal to net lending (+)/net borrowing (-) (B.9) of S.1311.

3. Deficit (-) or surplus (+) of state government [1A.3] is equal to net lending (+)/net borrowing (-) (B.9) of S.1312.

(1) OJ L 332, 31.12.1993, p. 7.
(2) [x.y] refers to the category number y of Table x.

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4. Deficit (-) or surplus (+) of local government [1A.4] is equal to net lending (+)/net borrowing (-) (B.9) of S.1313.

5. Deficit (-) or surplus (+) of social security funds [1A.5] is equal to net lending (+)/net borrowing (-) (B.9) of S.1314.

6. Primary deficit (-) or surplus (+) [1A.6] is equal to deficit (-) or surplus (+) [1A.1], plus interest payable [1A.26].

7. Total revenue [1A.7] is equal to current revenue [1A.9], plus capital revenue [1A.31].

8. Total expenditure [1A.8] is equal to current expenditure [1A.21], plus capital expenditure [1A.33].

9. Current revenue [1A.9] is equal to direct taxes [1A.10], plus indirect taxes [1A.13], plus social contributions [1A.15],

plus other current revenue [1A.18], plus sales [1A.20].

10. Direct taxes [1A.10] is equal to current taxes on income and wealth, etc. (D.5) recorded among resources of S.13.

11. Direct taxes of which payable by corporations [1A.11] is equal to current taxes on income and wealth, etc. (D.5)

recorded among resources of S.13 and uses of S.11 and S.12.

12. Direct taxes of which payable by households [1A.12] is equal to current taxes on income and wealth, etc. (D.5)

recorded among resources of S.13 and uses of S.14.

13. Indirect taxes [1A.13] is equal to taxes on production and imports (D.2) recorded among resources of S.13, plus

indirect taxes receivable by EU budget [1B.2].

14. Indirect taxes of which VAT [1A.14] is equal to value added type taxes (D.211) recorded among resources of S.13

and S.212.

15. Social contributions [1A.15] is equal to social contributions (D.61) recorded among resources of S.13.

16. Social contributions of which employers’ actual social contributions [1A.16] is equal to employers’ actual social

contributions (D.6111) recorded among resources of S.13.

17. Social contributions of which employees’ social contributions [1A.17] is equal to employees’ social contributions

(D.6112) recorded among resources of S.13.

18. Other current revenue [1A.18] is equal to property income (D.4), non-life insurance claims (D.72), current interna­
tional cooperation (D.74), and miscellaneous current transfers (D.75) recorded among resources of S.13, except S.13
resources of interest (D.41) that are also uses of S.13, plus receipts of other subsidies on production (D.39) that are
uses of S.13, minus current transfers payable by EU budget to government [1B.10], plus net receipts from EU budget
[1B.14], if positive.

19. Other current revenue of which interest receivable [1A.19] is equal to interest (D.41) recorded among resources of

S.13 and uses of all sectors except S.13.

20. Sales [1A.20] is equal to market output (P.11), plus output for own final use (P.12), plus payments for other non-

market output (P.131) recorded among resources of S.13.

21. Current expenditure [1A.21] is equal to current transfers [1A.22], plus interest payable [1A.26], plus compensation

of employees [1A.27], plus intermediate consumption [1A.29].

22. Current transfers [1A.22] is equal to social payments [1A.23], plus subsidies [1A.24], plus other current transfers

payable [1A.25].

23. Social payments [1A.23] is equal to social benefits other than social transfers in kind (D.62), plus social transfers in
kind related to expenditure on products supplied to households via market producers (D.6311 + D.63121 +
D.63131) recorded among uses of S.13, plus miscellaneous current transfers (D.75) recorded among uses of S.13
and resources of S.15.

24. Subsidies payable [1A.24] is equal to subsidies (D.3) recorded among the resources of S.13, plus subsidies payable by

EU budget [1B.9] to national residents.

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25. Other current transfers payable [1A.25] is equal to current taxes on income and wealth, etc. (D.5), other taxes on
production (D.29), property income (D.4) except interest (D.41), net non-life insurance premiums (D.71), current
international cooperation (D.74) recorded among uses of S.13, and miscellaneous current transfers (D.75) recorded
among uses of S.13 and resources of all sectors except S.15, minus current transfers (D.74 and D.75) payable by
government to EU budget [1B.4 and 1B.5], minus net receipts from EU budget [1B.14] if negative.

26. Interest payable [1A.26] is equal to interest (D.41) recorded among uses of S.13 and resources of all sectors except

S.13.

27. Compensation of employees [1A.27] is equal to compensation of employees (D.1) recorded among uses of S.13.

28. Compensation of employees of which wages and salaries [1A.28] is equal to wages and salaries (D.11) recorded

among uses of S.13.

29. Intermediate consumption [1A.29] is equal to intermediate consumption (P.2) recorded among uses of S.13.

30. Gross savings [1A.30] is equal to current revenue [1A.9], minus current expenditure [1A.21].

31. Capital revenue [1A.31] is equal to capital transfers receivable (D.9) recorded among changes in the liabilities and net
worth of S.13, and recorded as a capital transfer payable by all sectors except S.13, minus capital transfers payable by
EU budget to government [1B.12].

32. Capital revenue of which capital taxes [1A.32] is equal to capital taxes (D.91) recorded among changes in liabilities

and net worth of S.13.

33. Capital expenditure [1A.33] is equal to investment [1A.34], plus other net acquisitions of non-financial assets

[1A.35], plus capital transfers payable [1A.36].

34. Investment [1A.34] is equal to gross fixed capital formation (P.51) recorded among changes in assets of S.13.

35. Other net acquisitions of non-financial assets [1A.35] is equal to the increase in inventories (P.52), net acquisition of
valuables (P.53), and net acquisition of non-financial non-produced assets (K.2) recorded among changes in assets of
S.13.

36. Capital transfers payable [1A.36] is equal to capital transfers payable (D.9) recorded among changes in liabilities and
net worth of S.13, and recorded as a capital transfer receivable by all sectors except S.13, plus capital transfers
payable by EU budget to non-government units [1B.13], minus capital transfers payable by government to EU budget
[1B.7].

37. Excessive deficit procedure (EDP) deficit (-) or surplus (+) [1A.37] is equal to EDP net lending (+)/net borrowing (-)

(EDPB.9) of S.13.

38. EDP interest payable [1A.38] is equal to EDP interest (EDPD.41) recorded among uses of S.13 and resources of all

sectors except S.13.

39. Proceeds from the sale of universal mobile telecommunication systems (UMTS) licences [1A.39] is equal to the
proceeds coming from the sale of the third generation of mobile phone licences, recorded as a disposal of a non-
financial asset according to Eurostat’s decision on the allocation of mobile phone licences.

40. Actual social contributions [1A.40] is equal to actual social contributions (D.611) recorded among resources of S.13.

41. Social benefits other than social transfers in kind [1A.41] is equal to social benefits other than social transfers in kind

(D.62) recorded among uses of S.13.

42. Gross domestic product [1A.42] is equal to gross domestic product (B.1*g) at market prices.

43. Gross domestic product at constant prices [1A.43] is equal to gross domestic product (B.1*g) at constant prices.

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44. Government investment at constant prices [1A.44] is equal to gross fixed capital formation (P.51), recorded among

changes in assets of S.13, at constant prices.

Table 1B

1. Payments by Member State to EU budget [1B.1] is equal to indirect taxes receivable by EU budget plus current
international cooperation (D.74) payable by government to EU budget [1B.4] plus miscellaneous current transfers
(D.75) payable by government to EU budget [1B.5] plus capital transfers (D.9) payable by government to EU budget
[1B.7].

2. Indirect taxes receivable by EU budget [1B.2] is equal to taxes on production and imports (D.2) recorded among

resources of S.212.

3. Indirect taxes of which VAT received by EU budget [1B.3] is equal to value added type taxes (D.211) recorded among

resources of S.212.

4. Current international cooperation payable by government to EU budget [1B.4] is equal to current international

cooperation (D.74) recorded among resources of S.212 and uses of S.13.

5. Miscellaneous current transfers payable by government to EU budget [1B.5] is equal to miscellaneous current

transfers (D.75) recorded among resources of S.212 and uses of S.13.

6. Miscellaneous current transfers payable by government to EU budget of which EU fourth own resource [1B.6] is
equal to the gross national product (GNP) based fourth own resource (ESA 95 paragraph 4 138) recorded as
miscellaneous current transfers (D.75) among resources of S.212 and uses of S.13.

7. Capital transfers payable by government to EU budget [1B.7] is equal to capital transfers payable (D.9) recorded

among changes in liabilities and net worth of S.13 and recorded as a capital transfer receivable by S.212.

8. EU expenditure in Member State [1B.8] is equal to subsidies (D.3) payable by EU budget [1B.9], plus current transfers
(D.7) payable by EU budget to government [1B.10], plus current transfers (D.7) payable by EU budget to non-
government units [1B.11], plus capital transfers (D.9) payable by EU budget to government [1B.12], plus capital
transfers (D.9) payable by EU budget to non-government units [1B.13].

9. Subsidies payable by EU budget [1B.9] is equal to subsidies (D.3) recorded among the resources of S.212.

10. Current transfers payable by EU budget to government [1B.10] is equal to current international cooperation (D.74)

and miscellaneous current transfers (D.75) recorded among resources of S.13 and uses of S.212.

11. Current transfers payable by EU budget to non-government units [1B.11] is equal to miscellaneous current transfers

(D.75) recorded among uses of S.212 and resources of all sectors except S.13.

12. Capital transfers payable by EU budget to government [1B.12] is equal to capital transfers receivable (D.9) recorded

among changes in liabilities and net worth of S.13 and among changes in assets of S.212.

13. Capital transfers payable by EU budget to non-government units [1B.13] is equal to capital transfers payable (D.9)
recorded among changes in assets of S.212 and changes in liabilities and net worth of all sectors except S.13.

14. Net receipts from EU budget [1B.14] is equal to the net receipts of government from EU budget plus the net receipts

of non-government units from EU budget.

15. Own resources collection costs [1B.15] is that part of market output (P.11) recorded among resources of S.13 that is

the own resources collection costs paid by EU budget.

Table 1C

1. Final consumption expenditure [1C.1] is equal to final consumption expenditure (P.3) recorded among uses of S.13.

2. Individual consumption expenditure [1C.2] is equal to individual consumption expenditure (P.31) recorded among

uses of S.13.

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3. Collective consumption expenditure [1C.3] is equal to collective consumption expenditure (P.32) recorded among

uses of S.13.

4. Compensation of employees [1C.4] is equal to [1A.27].

5. Intermediate consumption [1C.5] is equal to [1A.29].

6. Social transfers in kind supplied via market producers [1C.6] is equal to social transfers in kind related to expenditure
on products supplied to households via market producers (D.6311 + D.63121 + D.63131) recorded among uses of
S.13.

7. Consumption of fixed capital [1C.7] is equal to consumption of fixed capital (K.1) recorded among changes in

liabilities and net worth of S.13.

8. Taxes on production paid minus subsidies received [1C.8] is equal to payments of other taxes on production (D.29)
recorded among uses of S.13, minus the receipt of other subsidies on production (D.39) recorded among the uses of
S.13.

9. Net operating surplus [1C.9] is equal to operating surplus, net (B.2n) of S.13.

10. Sales [1C.10] is equal to [1A.20].

11. Final consumption expenditure at constant prices [1C.11] is equal to final consumption expenditure (P.3) recorded

among uses of S.13 at constant prices.

Table 2A

1. Deficit (-) or surplus (+) [2A.1] is equal to [1A.1].

2. Adjustment between financial and non-financial accounts [2A.2] is equal to deficit (-) or surplus (+) [2A.1], minus

net transactions in financial assets and liabilities [2A.3].

3. Net transactions in financial assets and liabilities [2A.3] is equal to transactions in the net acquisition of financial

assets [2A.4], minus the net incurrence of transactions in liabilities [2A.15].

4. Transactions in financial assets [2A.4] is equal to transactions in currency and deposits (F.2) [2A.5], transactions in
securities other than shares (F.33) [2A.6], transactions in financial derivatives (F.34) [2A.7], transactions in loans (F.4)
[2A.8], transactions in shares and other equity (F.5) [2A.9] and transactions in other financial assets [2A.13],
recorded among changes in assets of S.13 and changes in liabilities and net worth of all sectors except S.13.

5. Transactions in currency and deposits (assets) [2A.5] is equal to the net acquisition of currency and deposits (F.2)
recorded among changes in assets of S.13 and changes in liabilities and net worth of all sectors except S.13.

6. Transactions in securities other than shares – short and long-term securities (assets) [2A.6] is equal to the net
acquisition of securities other than shares, excluding financial derivatives (F.33), recorded among changes in assets
of S.13 and changes in liabilities and net worth of all sectors except S.13.

7. Transactions in financial derivatives (assets) [2A.7] is equal to the net payments in respect of financial derivatives
(F.34), recorded among changes in assets of S.13 and changes in liabilities and net worth of all sectors except S.13.

8. Transactions in loans (assets) [2A.8] is equal to new loans (F.4) advanced by government, net of repayments to
government, recorded among changes in assets of S.13 and changes in liabilities and net worth of all sectors except
S.13.

9. Transactions in shares and other equity (assets) [2A.9] is equal to the net acquisition of shares and other equity (F.5)

recorded among changes in assets of S.13.

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10. Privatisation (net) [2A.10] is equal to transactions in shares and other equity (F.5) recorded among changes in assets
of S.13 and changes in liabilities and net worth of S.11 or S.12 which are carried out in the process of giving up or
gaining control (ESA 95 paragraph 2.26) (1) of the debtor unit by S.13; such transactions might be carried out by
S.13 directly with the debtor unit, or with another creditor unit.

11. Equity injections (net) [2A.11] is equal to transactions in shares and other equity (F.5) recorded among changes in
assets of S.13 and changes in liabilities and net worth of S.11 or S.12 which are not carried in the process of giving
up or gaining control of the debtor unit by S.13 and are carried out by S.13 directly with the debtor unit.

12. Other [2A.12] is equal to transactions in shares and other equity (F.5) recorded among changes in assets of S.13 and
changes in liabilities and net worth of S.11, S.12 or S.14 which are not carried out in the process of giving up or
gaining control of the debtor unit by S.13 and not carried out by S.13 directly with the debtor unit, but with another
creditor unit.

13. Transactions in other financial assets [2A.13] is equal to the net acquisition of monetary gold and special drawing
rights (F.1) recorded among changes in assets of S.13, the net acquisition of insurance technical reserves (F.6) and
other accounts receivable (F.7) recorded among changes in assets of S.13 and changes in liabilities and net worth of
all sectors except S.13.

14. Transactions in other financial assets of which accrued taxes minus cash tax receipts [2A.14] is equal to that part of
other accounts receivable/payable (F.7 assets) relating to the taxes and social contributions recorded in D2, D5, D6
and D91, less the amounts of taxes actually collected, recorded among changes in assets of S.13 and changes in
liabilities and net worth of all sectors except S.13.

15. Transactions in liabilities (consolidated) [2A.15] is equal to transactions in currency and deposits (F.2) [2A.16],
transactions in short-term securities (F.331) [2A.17], transactions in long-term securities (F.332) [2A.18], transactions
in financial derivatives (F.34) [2A.19], transactions in loans (F.4) [2A.20] and transactions in other liabilities [2A.22],
recorded among changes in liabilities and net worth of S.13 and changes in assets of all sectors except S.13.

16. Transactions in currency and deposits (liabilities) [2A.16] is equal to the net acquisition of currency and deposits (F.2)
recorded among changes in liabilities and net worth of S.13 and changes in assets of all sectors except S.13.

17. Transactions in securities other than shares – short-term securities (liabilities) [2A.17] is equal to the net acquisition
of securities other than shares, excluding financial derivatives, whose original maturity is one year or less (F.331),
recorded among changes in liabilities and net worth of S.13 and changes in assets of all sectors except S.13.

18. Transactions in securities other than shares – long-term securities (liabilities) [2A.18] is equal to the net acquisition of
securities other than shares, excluding financial derivatives, whose original maturity is over one year (F.332), recorded
among changes in liabilities and net worth of S.13 and changes in assets of all sectors except S.13.

19. Transactions in financial derivatives (liabilities) [2A.19] is equal to net receipts in respect of financial derivatives (F.34)
recorded among changes in liabilities and net worth of S.13 and changes in assets of all sectors except S.13.

20. Transactions in loans (liabilities) [2A.20] is equal to new loans (F.4) borrowed, net of repayments of existing loans,
recorded among changes in liabilities and net worth of S.13 and changes in assets of all sectors except S.13.

21. Transactions in loans of which loans from central bank [2A.21] is equal to transactions in loans (F.4) recorded

among changes in liabilities and net worth of S.13 and changes in assets of S.121.

22. Transactions in other liabilities [2A.22] is equal to the net incurrence of liabilities in insurance technical reserves (F.6)
and accounts payable (F.7) recorded among changes in liabilities and net worth of S.13 and changes in assets of all
sectors except S.13.

23. Transactions in debt instruments (consolidated) [2A.23] is equal to the net incurrence of liabilities in currency and
deposits (F.2) [2A.16], securities other than shares, excluding derivatives, [2A.17 and 2A.18] (F.33), and loans (F.4)
[2A.20]. It is also denominated general government borrowing requirement (GGBR).

24. Transactions in long-term debt instruments [2A.24] is equal to the net incurrence of liabilities in debt instruments

[2A.23] whose original maturity is over one year.

(1) Leading to the reclassification of the debtor unit from the subsector S.11001 or S.12x01 to the subsector S.11002/3 or S.12x02/3 or

vice versa.

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25. Transactions in debt instruments denominated in national currency [2A.25] is equal to the net incurrence of

liabilities in debt instruments [2A.23] denominated in the legal tender of the Member State.

26. Transactions in debt instruments denominated in a participating foreign currency [2A.26] is equal to the net
incurrence of liabilities in debt instruments [2A.23] denominated in ecus, plus debt instruments denominated in
euro prior to the Member State’s adoption of the euro, plus debt instruments denominated in the legal tender of a
participating Member State prior to it becoming a participating Member State. It excludes national currency [2A.25].

27. Transactions in debt instruments denominated in a non-participating foreign currency [2A.27] is equal to the net

incurrence of liabilities in debt instruments [2A.23] not included in [2A.25] or [2A.26].

28. Other flows [2A.28] is equal to valuation effects on debt [2A.29] plus other changes in volume of debt [2A.32].

29. Valuation effects on debt [2A.29] is equal to foreign exchange holding gains and losses [2A.30], plus other valuation

effects – face value [2A.31].

30. Foreign exchange holding gains and losses [2A.30] is equal to nominal holding gains/losses (K.11) of debt [3A.1] that

changes value when converted into national currency due to changes in currency exchange rates.

31. Other valuation effects – face value [2A.31] is equal to change in debt [2A.33], minus transactions in debt
instruments [2A.23], minus foreign exchange holding gains and losses [2A.30], minus other changes in volume
of debt [2A.32].

32. Other changes in volume of debt [2A.32] is equal to other volume changes (K.7, K.8, K.10 and K.12) in liabilities
classified either as currency and deposits (AF.2), securities other than shares, excluding financial derivatives (AF.33), or
loans (AF.4), that are not assets of S.13.

33. Change in debt [2A.33] is equal to debt [3A.1] in year t, minus debt [3A.1] in year t-1.

Table 2B

1. Transactions in debt instruments – non-consolidated [2B.1] is equal to transactions in currency and deposits
(liabilities) – non-consolidated [2B.2], plus transactions in short-term securities (liabilities) – non-consolidated
[2B.3], transactions in long-term securities (liabilities) – non-consolidated [2B.4], plus transactions in loans from
the central bank [2B.5], plus other transactions in other loans (liabilities) – non-consolidated [2B.6].

2. Transactions in currency and deposits (liabilities) – non-consolidated [2B.2] is equal to transactions in currency and

deposits (F.2) recorded among changes in liabilities and net worth of S.13.

3. Transactions in short-term securities (liabilities) – non-consolidated [2B.3] is equal to transactions in securities other
than shares, excluding financial derivatives (F.33), whose original maturity is one year or less, recorded among
changes in liabilities and net worth of S.13.

4. Transactions in long-term securities (liabilities) – non-consolidated [2B.4] is equal to transactions in securities other
than shares, excluding financial derivatives (F.33), whose original maturity is over one year, recorded among changes
in liabilities and net worth of S.13.

5. Transactions in loans from central bank [2B.5] is equal to transactions in loans (F.4) recorded among changes in

liabilities and net worth of S.13 and changes in assets of S.121.

6. Transactions in other loans (liabilities) – non-consolidated [2B.6] is equal to transactions in loans (F.4) recorded

among changes in liabilities and net worth of S.13 and changes in assets of all sectors except S.121.

7. Consolidating transactions [2B.7] is equal to transactions in debt instruments – non-consolidated [2B.1], minus

consolidated transactions in debt instruments [2A.23].

8. Consolidating transactions – currency and deposits [2B.8] is equal to transactions in currency and deposits (liabilities)

– non-consolidated [2B.2], minus consolidated transactions in currency and deposits (liabilities) [2A.16].

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9. Consolidating transactions – short-term securities [2B.9] is equal to transactions in short-term securities (liabilities) –

non-consolidated [2B.3], minus consolidated transactions in short-term securities (liabilities) [2A.17].

10. Consolidating transactions – long-term securities [2B.10] is equal to transactions in long-term securities (liabilities) –

non-consolidated [2B.4], minus consolidated transactions in long-term securities (liabilities) [2A.18].

11. Consolidating transactions – loans [2B.11] is equal to transactions in other loans (liabilities) – non-consolidated
[2B.6], minus consolidated transactions in loans (liabilities) [2A.20], minus transactions in loans from central bank
[2A.21].

Table 3A

1. Debt [3A.1] is equal to debt as defined in Regulation (EC) No 3605/93.

2. Debt – currency and deposits (liabilities) [3A.2] is equal to that part of debt [3A.1] in the instrument currency and

deposits (AF.2).

3. Debt – short-term securities (liabilities) [3A.3] is equal to that part of debt [3A.1] in the instrument securities other

than shares, excluding financial derivatives (AF.33), whose original maturity is one year or less.

4. Debt – long-term securities (liabilities) [3A.4] is equal to that part of debt [3A.1] in the instrument securities other

than shares, excluding financial derivatives (AF.33), whose original maturity is over one year.

5. Debt – loans from central bank (liabilities) [3A.5] is equal to that part of debt [3A.1] in the instrument loans (AF.4)

which is an asset of S.121.

6. Debt – other loans (liabilities) [3A.6] is equal to that part of debt [3A.1] in the instrument loans (AF.4) which is not

an asset of S.121.

7. Debt held by residents of the Member State [3A.7] is equal to debt held by central bank [3A.8], debt held by other
institutions [3A.10] and debt held by other

institutions [3A.9], debt held by other financial

monetary financial
residents of the Member State [3A.11].

8. Debt held by central bank [3A.8] is equal to that part of debt [3A.1] which is an asset of S.121.

9. Debt held by other monetary financial institutions [3A.9] is equal to that part of debt [3A.1] which is an asset of

S.122.

10. Debt held by other financial institutions [3A.10] is equal to that part of debt [3A.1] which is an asset of S.123, S.124

or S.125.

11. Debt held by other residents of the Member State [3A.11] is equal to that part of debt [3A.1] which is an asset of

S.11, S.14 or S.15.

12. Debt held by non-residents of the Member State [3A.12] is equal to that part of debt [3A.1] which is an asset of S.2.

13. Debt denominated in national currency [3A.13] is equal to that part of debt [3A.1] denominated in the legal tender

of the Member State.

14. Debt denominated in a participating foreign currency [3A.14] is equal – prior to the Member State becoming a
participating Member State – to that part of debt [3A.1] denominated in the legal tender of one of the participating
Member States (except national currency [3A.13]), plus debt denominated in ecus or euro.

15. Debt denominated in a non-participating foreign currency [3A.15] is equal to that part of debt [3A.1] not included

in [3A.13] or [3A.14].

16. Short-term debt [3A.16] is equal to that part of debt [3A.1] whose original maturity is one year or less.

17. Long-term debt [3A.17] is equal to that part of debt [3A.1] whose original maturity is over one year.

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18. Long-term debt of which variable interest rate [3A.18] is equal to that part of long-term debt [3A.17] whose interest

rate is variable.

19. Debt with residual maturity up to one year [3A.19] is equal to that part of debt [3A.1] with residual maturity of one

year or less.

20. Debt with residual maturity over one and up to five years [3A.20] is equal to that part of debt [3A.1] with residual

maturity over one and up to five years.

21. Debt with residual maturity over one and up to five years whose variable interest rate [3A.21] is equal to that part of

debt [3A.1] with residual maturity over one and up to five years [3A.20] whose interest rate is variable.

22. Debt with residual maturity over five years [3A.22] is equal to that part of debt [3A.1] with residual maturity over

five years.

23. Debt with residual maturity over five years of which variable interest rate [3A.23] is equal to that part of debt with

residual maturity over five years [3A.22] whose interest rate is variable.

24. Central government debt component [3A.24] is equal to the liabilities of S.1311, which are not assets of S.1311,

minus the assets of S.1311 that are liabilities of S.13 other than S.1311 [3B.15].

25. State government debt component [3A.25] is equal to the liabilities of S.1312, which are not assets of S.1312, minus

the assets of S.1312 that are liabilities of S.13 other than S.1312 [3B.16].

26. Local government debt component [3A.26] is equal to the liabilities of S.1313, which are not assets of S.1313,

minus the assets of S.1313 that are liabilities of S.13 other than S.1313 [3B.17].

27. Social security debt component [3A.27] is equal to the liabilities of S.1314, which are not assets of S.1314, minus

the assets of S.1314 that are liabilities of S.13 other than S.1314 [3B.18].

28. Average residual maturity of debt [3A.28] is equal to the average residual maturity weighted by the amounts

outstanding, expressed in years.

29. Debt – zero-coupon bonds [3A.29] is equal to that part of debt [3A.1] in the form of zero-coupon bonds, i.e. bonds
without coupon payments, whose interest is based on the difference between the prices at redemption and at issue.

Table 3B

1. Debt – non-consolidated [3B.1] is equal to the liabilities of S.13, including those that are assets of S.13, in the same

instruments as debt [3A.1].

2. Consolidating elements [3B.2] is equal to the liabilities of S.13 that are simultaneously assets of S.13, in the same

instruments as debt [3A.1].

3. Consolidating elements – currency and deposits [3B.3] is equal to that part of consolidating elements [3B.2] in the

instrument currency and deposits (F.2).

4. Consolidating elements – short-term securities [3B.4] is equal to that part of consolidating elements [3B.2] in the
instrument securities other than shares, excluding financial derivatives (F.33), whose original maturity is one year or
less.

5. Consolidating elements – long-term securities [3B.5] is equal to that part of consolidating elements [3B.2] in the
instrument securities other than shares, excluding financial derivatives (F.33), whose original maturity is over one
year.

6. Consolidating elements – loans [3B.6] is equal to that part of consolidating elements [3B.2] in the instrument loans

(F.4).

7. Debt issued by central government [3B.7] is equal to the liabilities of S.1311, which are not assets of S.1311, in the

same instruments as debt [3A.1].

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8. Debt issued by central government of which held by other government sub-sectors [3B.8] is equal to the liabilities of

S.1311 which are assets of S.1312, S.1313 or S.1314, in the same instruments as debt [3A.1].

9. Debt issued by state government [3B.9] is equal to the liabilities of S.1312, which are not assets of S.1312, in the

same instruments as debt [3A.1].

10. Debt issued by state government of which held by other government sub-sectors [3B.10] is equal to the liabilities of

S.1312 which are assets of S.1311, S.1313 or S.1314, in the same instruments as debt [3A.1].

11. Debt issued by local government [3B.11] is equal to the liabilities of S.1313, which are not assets of S.1313, in the

same instruments as debt [3A.1].

12. Debt issued by local government of which held by other government sub-sectors [3B.12] is equal to the liabilities of

S.1313 which are assets of S.1311, S.1312 or S.1314, in the same instruments as debt [3A.1].

13. Debt issued by social security funds [3B.13] is equal to the liabilities of S.1314, which are not assets of S.1314, in

the same instruments as debt [3A.1].

14. Debt issued by social security funds of which held by other government sub-sectors [3B.14] is equal to the liabilities

of S.1314 which are assets of S.1311, S.1312 or S.1313, in the same instruments as debt [3A.1].

15. Holdings by central government of debt issued by units in other government sub-sectors [3B.15] is equal to the
liabilities of S.1312, S.1313 or S.1314 which are assets of S.1311, in the same instruments as debt [3A.1].

16. Holdings by state government of debt issued by units in other government sub-sectors [3B.16] is equal to the
liabilities of S.1311, S.1313 or S.1314 which are assets of S.1312, in the same instruments as debt [3A.1].

17. Holdings by local government of debt issued by units in other government sub-sectors [3B.17] is equal to the
liabilities of S.1311, S.1312 or S.1314 which are assets of S.1313, in the same instruments as debt [3A.1].

18. Holdings by social security of debt issued by units in other government sub-sectors [3B.18] is equal to the liabilities

of S.1311, S.1312 or S.1313 which are assets of S.1314, in the same instruments as debt [3A.1].’