Document ID: chunk:federal_register_of_legislation:F2017L00724:body:0:p25
Version: federal_register_of_legislation:F2017L00724
Segment Type: other
Provision Reference: 
Character Range: 77310–81012

exchange; commercial paper and promissory notes (included as short-term debt securities); bonds, debentures, medium term notes, transferable certificates of deposit, floating-rate notes (included as long-term debt securities); account balances with financial intermediaries deemed to be deposit-taking institutions, such as banks (included as deposits).

Derivatives             Represents a financial instrument which is a contract between two or more parties where the price is dependent on or derived from one or more underlying assets.

                        Includes: all exchange traded and over-the-counter call and put options; interest rate, bullion, commodity and equity options; warrants and swap options; interest-rate swaps; cross currency interest rate swaps; currency swaps; futures (e.g. bank bill, bond); forward rate agreements; forward foreign-exchange contracts; and employee stock options.

Shares                  Represents securities which represent ownership of part of a company.

Units in trusts         Represents securities that represent beneficial interest or economic ownership in a trust.

Other financial assets  Represents all other financial assets that are not classified elsewhere.

                        Financial assets are mostly financial claims. Financial claims entitle the owner to receive a payment, or a series of payments, from an institutional unit to which the owner has provided funds. Shares are treated as financial assets even though the financial claim their holders have on the corporation is not a fixed or predetermined monetary amount.

Non-financial assets    Represents assets for which no corresponding liabilities are recorded.

Institutional units and sectoral classifications

In national accounting, institutional sectors are intrinsically different from each other in that their economic objectives, functions and behaviour are different. Institutional units are allocated to a sector according to the nature of the economic activities they undertake.

Institutional sectors and associated classifications used in the ABS financial statistics are described in Standard Economic Sector Classifications of Australia (SESCA) (cat. No. 1218.0). The classifications included in SESCA are based on international standards, adapted to suit Australian situations where appropriate. In the design of this form; however, using of the SESCA terminologies has been intentionally avoided to maximise interpretability.

In the structure depicted below, each sector contains a number of subsectors distinguished according to a hierarchical structure. Each institutional unit belongs to only one subsector.

        Domestic/Resident
       * Non-financial corporations
                Private
         Private non-financial investment funds
         Other private non-financial corporations
                Public
          National
          State and local
       * Financial corporations
                Central Bank
                Depository corporations
         Banks
         Other depository corporations
                Pension funds and insurance corporations
         Pension funds
         Life insurance corporations
         Non-life insurance corporations
                Financial investment funds
          Money market funds (MMF)
          Non-MMF financial investment funds
                Central Borrowing Authorities
                Securitisers
                Other financial corporations
       * General government
                National
                State and local
       * Households

        Rest of world/Non-resident

Information provided in this section is to be used as a general guide for