Legalize / European Union / Regulation

Council Regulation (EC) No 2223/96 of 25 June 1996 on the European system of national and regional accounts in the Community

Type Regulation

Publication 1996-06-25

Last updated 2013-07-01

State In force

Department Council of the European Union

Source EUR-Lex

articles 9

Reform history JSON API

8.52.	The other changes in assets account records changes in assets and liabilities of units, other than in connection with saving and voluntary transfers of wealth, these being recorded in the capital and financial accounts. It is divided into two: the other changes in volume of assets account (III.3.1) and the revaluation account (III.3.2). Table 8.9 — Account II.4.2: Use of adjusted disposable income account Uses Resources Total Corresponding entries of the S.1 Total economy S.15 NPISHs S.14 Households S.13 General government S.12 Financial corporations S.11 Non-financial corporations Transactions and balancing items S.11 Non-financial corporations S.12 Financial corporations S.13 General government S.14 Households S.15 NPISHs S.1 Total economy Corresponding entries of the Total Goods and services account Rest of the World account Rest of the World account Goods and services account B.7g Adjusted disposable income, gross 185 32 176 1 406 27 1 826 1826 B.7n Adjusted disposable income, net 48 22 146 1 364 24 1 604 1604 1371 1 371 1 215 156 P.4 Actual final consumption 1 371 1371 1215 1 215 1 215 P.41 Actual individual consumption 1 215 1215 156 156 156 P.42 Actual collective consumption 156 156 11 0 11 0 0 11 0 D.8 Adjustment for the change in net equity of households in pension funds reserves 11 11 0 11 455 455 27 202 20 21 185 B.8g Saving, gross 233 233 24 160 -10 11 48 B.8n Saving, net - 41 -41 B.12 Current external balance Table 8.10 — Account III.1.1: Change in net worth due to saving and capital transfers account Changes in assets Changes in liabilities and net worth Total Corresponding entries of the S.1 Total economy S.15 NPISHs S.14 Households S.13 General government S.12 Financial corporations S.11 Non-financial corporations Transactions and balancing items S.11 Non-financial corporations S.12 Financial corporations S.13 General government S.14 Households S.15 NPISHs S.1 Total economy Corresponding entries of the Total Goods and services account Rest of the World account Rest of the World account Goods and services account B.8n Saving, net 48 11 -10 160 24 233 233 B.12 Current external balance -41 - 41 D.9 Capital transfers, receivable 33 6 23 62 4 66 D.91 Capital taxes, receivable 2 2 2 D.92 Investment grants, receivable 23 23 4 27 D.99 Other capital transfers, receivable 10 4 23 37 37 D.9 Capital transfers, payable -16 -7 -34 -5 -3 -65 -1 - 66 D.91 Capital taxes, payable -2 -2 - 2 D.92 Investment grants, payable -27 -27 - 27 D.99 Other capital transfers, payable -16 -7 -7 -3 -3 -36 -1 - 37 192 -38 230 21 178 -38 4 65 B.10.1 Changes in net worth due to saving and capital transfers Table 8.11 — Account III.1.2: Acquisition of non-financial assets account Changes in assets Changes in liabilities and net worth Total Corresponding entries of the S.1 Total economy S.15 NPISHs S.14 Households S.13 General government S.12 Financial corporations S.11 Non-financial corporations Transactions and balancing items S.11 Non-financial corporations S.12 Financial corporations S.13 General government S.14 Households S.15 NPISHs S.1 Total economy Corresponding entries of the Total Goods and services account Rest of the World account Rest of the World account Goods and services account B.10.1 Changes in net worth due to saving and capital transfers 65 4 -38 178 21 230 -38 192 376 376 19 61 37 9 250 P.51 Gross fixed capital formation 376 376 303 303 14 49 23 8 209 P.511 Acquisitions less disposals of tangible fixed assets 303 303 305 305 13 50 24 7 211 P.5111 Acquisitions of new tangible fixed assets 305 305 11 11 1 4 1 1 4 P.5112 Acquisitions of existing tangible fixed assets 11 11 - 13 -13 -5 -2 -6 P.5113 Disposals of existing tangible fixed assets -13 - 13 51 51 5 12 12 1 21 P.512 Acquisitions less disposals of intangible fixed assets 51 51 53 53 10 9 12 1 21 P.5121 Acquisitions of new intangible fixed assets 53 53 6 6 3 2 1 P.5122 Acquisitions of existing intangible fixed assets 6 6 - 8 -8 -5 -2 -1 P.5123 Disposals of existing intangible fixed assets -8 - 8 22 22 2 20 P.513 Additions to the value of non-produced non-financial assets 22 22 5 5 2 3 P.5131 Major improvements to non-produced non-financial assets 5 5 17 17 17 P.5132 Costs of ownership transfer on non-produced non-financial assets 17 17 - 222 -222 -3 -42 -30 -10 -137 K.1 Consumption of fixed capital 28 28 2 26 P.52 Changes in inventories 28 28 10 10 5 3 2 P.53 Acquisitions less disposals of valuables 10 10 1 4 2 -7 K.2 Acquisitions less disposals of non-produced non-financial assets 1 3 2 -6 K.21 Acquisitions less disposals of land and other tangible non-produced assets 1 -1 K.22 Acquisitions less disposals of intangible non-produced assets -38 38 4 148 -50 5 -69 B.9 Net lending (+) net borrowing (-) Table 8.12 — Account III.2: Financial account Changes in assets Changes in liabilities and net worth Total Corresponding entries of the S.1 Total economy S.15 NPISHs S.14 Households S.13 General government S.12 Financial corporations S.11 Non-financial corporations Transactions and balancing items S.11 Non-financial corporations S.12 Financial corporations S.13 General government S.14 Households S.15 NPISHs S.1 Total economy Corresponding entries of the Total Goods and services account Rest of the World account Rest of the World account Goods and services account B.9 Net lending (+)/net borrowing (-) -69 5 -50 148 4 38 -38 0 691 50 641 32 181 120 237 71 F Net acquisition of financial assets F Net incurrence of liabilities 140 232 170 33 28 603 88 691 1 -1 -1 F.1 Monetary gold and SDRs 130 11 119 12 68 7 15 17 F.2 Currency and deposits 130 2 132 -2 130 37 3 34 2 10 2 15 5 F.21 Currency 35 35 2 37 64 2 62 7 41 4 10 F.22 Transferable deposits 63 2 65 -1 64 29 6 23 3 17 1 2 F.29 Other deposits 32 32 -3 29 143 5 138 12 29 26 53 18 F.3 Securities other than shares 6 53 64 123 20 143 254 10 244 5 45 167 27 F.4 Loans 71 94 28 24 217 37 254 86 3 83 3 1 63 16 F.41 Short-term 16 32 11 17 76 10 86 168 7 161 2 44 104 11 F.42 Long-term 55 62 17 7 141 27 168 46 2 44 3 36 3 2 F.5 Shares and other equity 26 13 4 43 3 46 36 36 36 F.6 Insurance technical reserves 36 36 36 33 33 33 F.61 Net equity of households in life insurance reserves and in pension funds reserves 33 33 33 22 22 22 F.611 Net equity of households in life insurance reserves 22 22 22 11 11 11 F.612 Net equity of households in pension funds reserves 11 11 11 3 3 3 F.62 Prepayments of insurance premiums and reserves for outstanding claims 3 3 3 82 21 61 8 40 6 7 F.7 Other accounts receivable/payable 37 10 5 52 30 82 36 18 18 11 1 6 F.71 Trade credits and advances 8 6 4 18 18 36 46 3 43 8 29 5 1 F.79 Other accounts receivable/payable except trade credits and advances 29 4 1 34 12 46
Uses	Resources
Total	Corresponding entries of the	S.1 Total economy	S.15 NPISHs	S.14 Households	S.13 General government	S.12 Financial corporations	S.11 Non-financial corporations	Transactions and balancing items	S.11 Non-financial corporations	S.12 Financial corporations	S.13 General government	S.14 Households	S.15 NPISHs	S.1 Total economy	Corresponding entries of the	Total
Goods and services account	Rest of the World account	Rest of the World account	Goods and services account
									B.7g	Adjusted disposable income, gross	185	32	176	1 406	27	1 826			1826
									B.7n	Adjusted disposable income, net	48	22	146	1 364	24	1 604			1604
1371			1 371		1 215	156			P.4	Actual final consumption								1 371	1371
1215			1 215		1 215				P.41	Actual individual consumption								1 215	1215
156			156			156			P.42	Actual collective consumption								156	156
11		0	11	0		0	11	0	D.8	Adjustment for the change in net equity of households in pension funds reserves				11		11	0		11
455			455	27	202	20	21	185	B.8g	Saving, gross
233			233	24	160	-10	11	48	B.8n	Saving, net
- 41		-41							B.12	Current external balance
Changes in assets	Changes in liabilities and net worth
Total	Corresponding entries of the	S.1 Total economy	S.15 NPISHs	S.14 Households	S.13 General government	S.12 Financial corporations	S.11 Non-financial corporations	Transactions and balancing items	S.11 Non-financial corporations	S.12 Financial corporations	S.13 General government	S.14 Households	S.15 NPISHs	S.1 Total economy	Corresponding entries of the	Total
Goods and services account	Rest of the World account	Rest of the World account	Goods and services account
									B.8n	Saving, net	48	11	-10	160	24	233			233
									B.12	Current external balance							-41		- 41
									D.9	Capital transfers, receivable	33		6	23		62	4		66
									D.91	Capital taxes, receivable			2			2			2
									D.92	Investment grants, receivable	23					23	4		27
									D.99	Other capital transfers, receivable	10		4	23		37			37
									D.9	Capital transfers, payable	-16	-7	-34	-5	-3	-65	-1		- 66
									D.91	Capital taxes, payable				-2		-2			- 2
									D.92	Investment grants, payable			-27			-27			- 27
									D.99	Other capital transfers, payable	-16	-7	-7	-3	-3	-36	-1		- 37
192		-38	230	21	178	-38	4	65	B.10.1	Changes in net worth due to saving and capital transfers
Changes in assets	Changes in liabilities and net worth
Total	Corresponding entries of the	S.1 Total economy	S.15 NPISHs	S.14 Households	S.13 General government	S.12 Financial corporations	S.11 Non-financial corporations	Transactions and balancing items	S.11 Non-financial corporations	S.12 Financial corporations	S.13 General government	S.14 Households	S.15 NPISHs	S.1 Total economy	Corresponding entries of the	Total
Goods and services account	Rest of the World account	Rest of the World account	Goods and services account
									B.10.1	Changes in net worth due to saving and capital transfers	65	4	-38	178	21	230	-38		192
376			376	19	61	37	9	250	P.51	Gross fixed capital formation								376	376
303			303	14	49	23	8	209	P.511	Acquisitions less disposals of tangible fixed assets								303	303
305			305	13	50	24	7	211	P.5111	Acquisitions of new tangible fixed assets								305	305
11			11	1	4	1	1	4	P.5112	Acquisitions of existing tangible fixed assets								11	11
- 13			-13		-5	-2		-6	P.5113	Disposals of existing tangible fixed assets								-13	- 13
51			51	5	12	12	1	21	P.512	Acquisitions less disposals of intangible fixed assets								51	51
53			53	10	9	12	1	21	P.5121	Acquisitions of new intangible fixed assets								53	53
6			6		3	2		1	P.5122	Acquisitions of existing intangible fixed assets								6	6
- 8			-8	-5		-2		-1	P.5123	Disposals of existing intangible fixed assets								-8	- 8
22			22			2		20	P.513	Additions to the value of non-produced non-financial assets								22	22
5			5			2		3	P.5131	Major improvements to non-produced non-financial assets								5	5
17			17					17	P.5132	Costs of ownership transfer on non-produced non-financial assets								17	17
- 222			-222	-3	-42	-30	-10	-137	K.1	Consumption of fixed capital
28			28		2			26	P.52	Changes in inventories								28	28
10			10		5	3		2	P.53	Acquisitions less disposals of valuables								10	10
				1	4	2		-7	K.2	Acquisitions less disposals of non-produced non-financial assets
				1	3	2		-6	K.21	Acquisitions less disposals of land and other tangible non-produced assets
					1			-1	K.22	Acquisitions less disposals of intangible non-produced assets
		-38	38	4	148	-50	5	-69	B.9	Net lending (+) net borrowing (-)
Changes in assets	Changes in liabilities and net worth
Total	Corresponding entries of the	S.1 Total economy	S.15 NPISHs	S.14 Households	S.13 General government	S.12 Financial corporations	S.11 Non-financial corporations	Transactions and balancing items	S.11 Non-financial corporations	S.12 Financial corporations	S.13 General government	S.14 Households	S.15 NPISHs	S.1 Total economy	Corresponding entries of the	Total
Goods and services account	Rest of the World account	Rest of the World account	Goods and services account
									B.9	Net lending (+)/net borrowing (-)	-69	5	-50	148	4	38	-38		0
691		50	641	32	181	120	237	71	F	Net acquisition of financial assets
									F	Net incurrence of liabilities	140	232	170	33	28	603	88		691
		1	-1				-1		F.1	Monetary gold and SDRs
130		11	119	12	68	7	15	17	F.2	Currency and deposits		130	2			132	-2		130
37		3	34	2	10	2	15	5	F.21	Currency		35				35	2		37
64		2	62	7	41	4		10	F.22	Transferable deposits		63	2			65	-1		64
29		6	23	3	17	1		2	F.29	Other deposits		32				32	-3		29
143		5	138	12	29	26	53	18	F.3	Securities other than shares	6	53	64			123	20		143
254		10	244		5	45	167	27	F.4	Loans	71		94	28	24	217	37		254
86		3	83		3	1	63	16	F.41	Short-term	16		32	11	17	76	10		86
168		7	161		2	44	104	11	F.42	Long-term	55		62	17	7	141	27		168
46		2	44		3	36	3	2	F.5	Shares and other equity	26	13			4	43	3		46
36			36		36				F.6	Insurance technical reserves		36				36			36
33			33		33				F.61	Net equity of households in life insurance reserves and in pension funds reserves		33				33			33
22			22		22				F.611	Net equity of households in life insurance reserves		22				22			22
11			11		11				F.612	Net equity of households in pension funds reserves		11				11			11
3			3		3				F.62	Prepayments of insurance premiums and reserves for outstanding claims		3				3			3
82		21	61	8	40	6		7	F.7	Other accounts receivable/payable	37		10	5		52	30		82
36		18	18		11	1		6	F.71	Trade credits and advances	8		6	4		18	18		36
46		3	43	8	29	5		1	F.79	Other accounts receivable/payable except trade credits and advances	29		4	1		34	12		46

8.53. The movements recorded in the other changes in volume of assets account affect the net worth of the balance sheets of the units, sectors and subsectors concerned. This change, called change in net worth due to other volume changes of assets, is the balancing item in the account.

8.54. The revaluation account records changes in the value of assets and liabilities due to changes in their prices. For a given asset or liability, this change is measured as: This difference is called ‘nominal holding gain (or loss)’. A nominal holding gain corresponds to the positive revaluation of an asset or the negative revaluation of a (financial) liability. A nominal holding loss corresponds to the negative revaluation of an asset or the positive revaluation of a (financial) liability.

8.55. The flows recorded in the revaluation account change the net worth of the balance sheets of the units concerned. This change, called ‘change in net worth due to nominal holding gains and losses’, is the balancing item in the account. It is recorded on the changes in liabilities and net worth side.

8.56. The revaluation account is broken down into two sub-accounts: the neutral holding gains and losses account (III.3.2.1) and the real holding gains and losses account (III.3.2.2).

8.57. The neutral holding gains and losses account records changes in the value of assets and liabilities in proportion to changes in the general price level. Such changes correspond to the revaluation necessary to maintain the general purchasing power of assets and liabilities. The general index price to be applied for this calculation is the price index for final national uses, excluding changes in inventories.

8.58. Real holding gains and losses measure the difference between nominal holding gains and losses and neutral holding gains and losses.

8.59.	If the nominal holding gains net of the nominal holding losses on a given asset exceed the neutral holding gains net of the neutral holding losses, there is a real holding gain on the asset for the unit holding it. This gain reflects the fact that the actual price of the asset has, on average, risen faster than the general price level. Conversely, a drop in the relative price of the asset produces a real holding loss for the unit holding it. By the same token, a rise in the relative price of a liability produces a real holding loss on liabilities, while a drop in the relative price of a liability generates a real holding gain on liabilities. Table 8.13 — Account III.3.1: Other changes in volume of assets account Changes in assets Changes in liabilities and net worth Total Corresponding entries of the S.1 Total economy S.15 NPISHs S.14 Households S.13 General government S.12 Financial corporations S.11 Non-financial corporations Transactions and balancing items S.11 Non-financial corporations S.12 Financial corporations S.13 General government S.14 Households S.15 NPISHs S.1 Total economy Corresponding entries of the Total Goods and services account Rest of the World account Rest of the World account Goods and services account 10 10 -2 12 AN Non-financial assets - 7 -7 -3 -2 -2 AN.1 Produced assets 3 3 3 K.4 Economic appearance of produced assets - 9 -9 -4 -5 K.7 Catastrophic losses 1 -1 K.8 Uncompensated seizures 1 1 1 K.9 Other volume changes in non-financial assets n.e.c. - 2 -2 -3 -2 3 K.12 Changes in classifications and structure -3 3 K.12.1 Changes in sector classification and structure - 2 -2 -2 K.12.2 Changes in classification of assets and liabilities - 2 -2 -2 K.12.21 Monetization/demonetization of gold K.12.22 Changes in classification of assets or liabilities other than monetization/demonetization of gold of which: - 4 -4 -3 -1 AN.11 Fixed assets - 1 -1 -1 AN.12 Inventories - 2 -2 -2 AN.13 Valuables 17 17 3 14 AN.2 Non-produced assets 24 24 24 K.3 Economic appearance of non-produced assets 4 4 4 K.5 Natural growth of non-cultivated biological resources - 9 -9 -2 -7 K.6 Economic disapperance of non-produced assets - 8 -8 -2 -6 K.61 Depletion of natural assets - 1 -1 -1 K.62 Other economic disapperance of non-produced assets - 2 -2 -2 K.7 Catastrophic losses 4 -4 K.8 Uncompensated seizures K.9 Other volume changes in non-financial assets n.e.c. -1 1 K.12 Changes in classifications and structure -1 1 K.12.1 Changes in sector classification and structure K.12.2 Changes in classification of assets and liabilities K.12.22 Changes in classification of assets or liabilities other than monetization/demonetization of gold of which: 17 17 3 14 AN.21 Tangible non-produced assets AN.22 Intangible non-produced assets 5 5 2 1 2 AF Financial assets/liabilities -3 2 -1 -2 K.7 Catastrophic losses 3 -3 K.8 Uncompensated seizures 3 3 2 1 K.10 Other volume changes in financial assets and liabilities n.e.c. -4 2 -2 2 2 -2 2 2 K.12 Changes in classifications and structure 1 -1 -2 2 K.12.1 Changes in sector classifications and structure 1 -1 2 2 2 K.12.2 Changes in classification of assets and liabilities 2 2 2 K.12.21 Monetization/demonetization of gold K.12.22 Changes in classification of assets or liabilities other than monetization/demonetization of gold of which: 7 7 7 AF.1 Monetary gold and SDRs AF.2 Currency and deposits 3 -3 AF.3 Securities other than shares - 4 -4 -4 AF.4 Loans -3 -1 -4 -2 2 AF.5 Shares and other equity 2 2 2 AF.6 Insurance technical reserves 2 2 AF.7 Other accounts receivable/payable B.10.2 Changes in net worth due to other changes in volume of assets 17 -4 2 2 17 Table 8.14 — Account III.3.2: Revaluation account Changes in assets Changes in liabilities and net worth Accounts Total Corresponding entries of the S.1 Total economy S.15 NPISHs S.14 Households S.13 General government S.12 Financial corporations S.11 Non-financial corporations Transactions and balancing items S.11 Non-financial corporations S.12 Financial corporations S.13 General government S.14 Households S.15 NPISHs S.1 Total economy Corresponding entries of the Total Accounts Goods and services account Rest of the World account Rest of the World account Goods and services account III.3.2Revaluation account K.11 Nominal holding gains/losses III.3.2.Revaluation account 280 280 8 80 44 4 144 AN Non-financial assets 126 126 5 35 20 2 63 AN.1 Produced assets 111 111 5 28 18 2 58 AN.11 Fixed assets 7 7 2 1 4 AN.12 Inventories 8 8 5 1 1 AN.13 Valuables 154 154 3 45 23 2 81 AN.2 Non-produced assets 152 152 3 45 23 1 80 AN.21 Tangible non-produced assets 2 2 1 AN.22 Intangible non-produced assets 91 7 84 1 16 2 57 8 AF Financial assets/liabilities 18 51 7 76 3 78 12 12 1 11 AF.1 Monetary gold and SDRs AF.2 Currency and deposits 44 4 40 1 6 30 3 AF.3 Securities other than shares 1 34 7 42 2 44 AF.4 Loans 34 3 31 1 10 16 5 AF.5 Shares and other equity 16 17 34 34 AF.6 Insurance technical reserves AF.7 Other accounts receivable/payable B.10.3 Changes in net worth due to nominal holding gains/losses 134 10 38 96 10 288 4 292 III.3.2.1.Neutral holding gains account K.11.1 Neutral holding gains/losses III.3.2.1.Neutral holding gains account 198 198 6 56 32 3 101 AN Non-financial assets 121 121 5 34 20 2 60 AN.1 Produced assets 111 111 5 28 18 2 58 AN.11 Fixed assets 5 5 2 1 2 AN.12 Inventories 5 5 4 1 1 AN.13 Valuables 78 78 2 22 12 1 41 AN.2 Non-produced assets 76 76 2 22 12 1 40 AN.21 Tangible non-produced assets 1 1 1 AN.22 Intangible non-produced assets 147 11 136 3 36 8 70 18 AF Financial assets/liabilities 36 68 14 6 2 126 6 132 15 15 2 14 AF.1 Monetary gold and SDRs 32 2 30 2 17 3 8 AF.2 Currency and deposits 1 26 2 1 29 2 32 28 3 25 1 4 19 2 AF.3 Securities other than shares 1 21 4 26 2 28 29 1 28 2 24 1 AF.4 Loans 18 7 3 1 29 29 28 2 26 8 13 4 AF.5 Shares and other equity 14 14 28 28 8 1 7 6 1 1 AF.6 Insurance technical reserves 7 7 1 8 7 3 5 1 3 AF.7 Other accounts receivable/payable 3 2 1 6 1 7 B.10.31 Changes in net worth due to neutral holding gains/losses 82 5 26 87 8 208 6 214 III.3.2.2.Real holding gains account K.11.2 Real holding gains/losses III.3.2.2.Real holding gains account 81 81 2 24 12 1 43 AN Non-financial assets 5 5 1 3 AN.1 Produced assets AN.11 Fixed assets 3 3 3 AN.12 Inventories 2 2 1 AN.13 Valuables 77 77 2 22 12 1 40 AN.2 Non-produced assets 76 76 2 22 12 1 40 AN.21 Tangible non-produced assets 1 1 AN.22 Intangible non-produced assets - 57 -5 -52 -2 -20 -6 -13 -10 AF Financial assets/liabilities -18 -17 -7 -6 -2 -50 -3 - 54 - 3 -3 -3 AF.1 Monetary gold and SDRs - 32 -2 -30 -2 -17 -3 -8 AF.2 Currency and deposits -1 -26 -2 -1 -29 -2 - 32 17 1 15 2 11 1 AF.3 Securities other than shares 1 13 3 16 1 17 - 29 -1 -28 -2 -24 -1 AF.4 Loans -18 -7 -3 -1 -29 - 29 6 5 2 3 1 AF.5 Shares and other equity 3 3 6 6 - 8 -1 -7 -6 -1 -1 AF.6 Insurance technical reserves -7 -7 -1 - 8 - 7 -3 -5 -1 -3 AF.7 Other accounts receivable/payable -3 -2 -1 -6 -1 - 7 B.10.32 Changes in net worth due to real holding gains/losses 51 5 12 9 2 80 -1 78
Changes in assets	Changes in liabilities and net worth
Total	Corresponding entries of the	S.1 Total economy	S.15 NPISHs	S.14 Households	S.13 General government	S.12 Financial corporations	S.11 Non-financial corporations	Transactions and balancing items	S.11 Non-financial corporations	S.12 Financial corporations	S.13 General government	S.14 Households	S.15 NPISHs	S.1 Total economy	Corresponding entries of the	Total
Goods and services account	Rest of the World account	Rest of the World account	Goods and services account
10			10				-2	12	AN	Non-financial assets
- 7			-7			-3	-2	-2	AN.1	Produced assets
3			3			3			K.4	Economic appearance of produced assets
- 9			-9			-4		-5	K.7	Catastrophic losses
						1		-1	K.8	Uncompensated seizures
1			1					1	K.9	Other volume changes in non-financial assets n.e.c.
- 2			-2			-3	-2	3	K.12	Changes in classifications and structure
						-3		3	K.12.1	Changes in sector classification and structure
- 2			-2				-2		K.12.2	Changes in classification of assets and liabilities
- 2			-2				-2		K.12.21	Monetization/demonetization of gold
									K.12.22	Changes in classification of assets or liabilities other than monetization/demonetization of gold
									of which:
- 4			-4			-3		-1	AN.11	Fixed assets
- 1			-1					-1	AN.12	Inventories
- 2			-2				-2		AN.13	Valuables
17			17			3		14	AN.2	Non-produced assets
24			24					24	K.3	Economic appearance of non-produced assets
4			4			4			K.5	Natural growth of non-cultivated biological resources
- 9			-9			-2		-7	K.6	Economic disapperance of non-produced assets
- 8			-8			-2		-6	K.61	Depletion of natural assets
- 1			-1					-1	K.62	Other economic disapperance of non-produced assets
- 2			-2			-2			K.7	Catastrophic losses
						4		-4	K.8	Uncompensated seizures
									K.9	Other volume changes in non-financial assets n.e.c.
						-1		1	K.12	Changes in classifications and structure
						-1		1	K.12.1	Changes in sector classification and structure
									K.12.2	Changes in classification of assets and liabilities
									K.12.22	Changes in classification of assets or liabilities other than monetization/demonetization of gold
									of which:
17			17			3		14	AN.21	Tangible non-produced assets
									AN.22	Intangible non-produced assets
5			5		2	1		2	AF	Financial assets/liabilities	-3	2	-1			-2
									K.7	Catastrophic losses
						3	-3		K.8	Uncompensated seizures
3			3		2		1		K.10	Other volume changes in financial assets and liabilities n.e.c.	-4	2				-2
2			2			-2	2	2	K.12	Changes in classifications and structure	1		-1
						-2		2	K.12.1	Changes in sector classifications and structure	1		-1
2			2				2		K.12.2	Changes in classification of assets and liabilities
2			2				2		K.12.21	Monetization/demonetization of gold
									K.12.22	Changes in classification of assets or liabilities other than monetization/demonetization of gold
									of which:
7			7				7		AF.1	Monetary gold and SDRs
									AF.2	Currency and deposits
						3	-3		AF.3	Securities other than shares
- 4			-4				-4		AF.4	Loans	-3		-1			-4
						-2		2	AF.5	Shares and other equity
2			2		2				AF.6	Insurance technical reserves		2				2
									AF.7	Other accounts receivable/payable
									B.10.2	Changes in net worth due to other changes in volume of assets	17	-4	2	2		17
Changes in assets	Changes in liabilities and net worth
Accounts	Total	Corresponding entries of the	S.1 Total economy	S.15 NPISHs	S.14 Households	S.13 General government	S.12 Financial corporations	S.11 Non-financial corporations	Transactions and balancing items	S.11 Non-financial corporations	S.12 Financial corporations	S.13 General government	S.14 Households	S.15 NPISHs	S.1 Total economy	Corresponding entries of the	Total	Accounts
Goods and services account	Rest of the World account	Rest of the World account	Goods and services account
III.3.2Revaluation account										K.11	Nominal holding gains/losses									III.3.2.Revaluation account
280			280	8	80	44	4	144	AN	Non-financial assets
126			126	5	35	20	2	63	AN.1	Produced assets
111			111	5	28	18	2	58	AN.11	Fixed assets
7			7		2	1		4	AN.12	Inventories
8			8		5	1		1	AN.13	Valuables
154			154	3	45	23	2	81	AN.2	Non-produced assets
152			152	3	45	23	1	80	AN.21	Tangible non-produced assets
2			2					1	AN.22	Intangible non-produced assets
91		7	84	1	16	2	57	8	AF	Financial assets/liabilities	18	51	7			76	3		78
12			12			1	11		AF.1	Monetary gold and SDRs
									AF.2	Currency and deposits
44		4	40	1	6		30	3	AF.3	Securities other than shares	1	34	7			42	2		44
									AF.4	Loans
34		3	31	1	10		16	5	AF.5	Shares and other equity	16	17				34			34
									AF.6	Insurance technical reserves
									AF.7	Other accounts receivable/payable
									B.10.3	Changes in net worth due to nominal holding gains/losses	134	10	38	96	10	288	4		292
III.3.2.1.Neutral holding gains account										K.11.1	Neutral holding gains/losses									III.3.2.1.Neutral holding gains account
198			198	6	56	32	3	101	AN	Non-financial assets
121			121	5	34	20	2	60	AN.1	Produced assets
111			111	5	28	18	2	58	AN.11	Fixed assets
5			5		2	1		2	AN.12	Inventories
5			5		4	1		1	AN.13	Valuables
78			78	2	22	12	1	41	AN.2	Non-produced assets
76			76	2	22	12	1	40	AN.21	Tangible non-produced assets
1			1					1	AN.22	Intangible non-produced assets
147		11	136	3	36	8	70	18	AF	Financial assets/liabilities	36	68	14	6	2	126	6		132
15			15			2	14		AF.1	Monetary gold and SDRs
32		2	30	2	17	3		8	AF.2	Currency and deposits	1	26	2		1	29	2		32
28		3	25	1	4		19	2	AF.3	Securities other than shares	1	21	4			26	2		28
29		1	28			2	24	1	AF.4	Loans	18		7	3	1	29			29
28		2	26		8		13	4	AF.5	Shares and other equity	14	14				28			28
8		1	7		6		1	1	AF.6	Insurance technical reserves		7				7	1		8
7		3	5		1			3	AF.7	Other accounts receivable/payable	3			2	1	6	1		7
									B.10.31	Changes in net worth due to neutral holding gains/losses	82	5	26	87	8	208	6		214
III.3.2.2.Real holding gains account										K.11.2	Real holding gains/losses									III.3.2.2.Real holding gains account
81			81	2	24	12	1	43	AN	Non-financial assets
5			5		1			3	AN.1	Produced assets
									AN.11	Fixed assets
3			3					3	AN.12	Inventories
2			2		1				AN.13	Valuables
77			77	2	22	12	1	40	AN.2	Non-produced assets
76			76	2	22	12	1	40	AN.21	Tangible non-produced assets
1			1						AN.22	Intangible non-produced assets
- 57		-5	-52	-2	-20	-6	-13	-10	AF	Financial assets/liabilities	-18	-17	-7	-6	-2	-50	-3		- 54
- 3			-3				-3		AF.1	Monetary gold and SDRs
- 32		-2	-30	-2	-17	-3		-8	AF.2	Currency and deposits	-1	-26	-2		-1	-29	-2		- 32
17		1	15		2		11	1	AF.3	Securities other than shares	1	13	3			16	1		17
- 29		-1	-28			-2	-24	-1	AF.4	Loans	-18		-7	-3	-1	-29			- 29
6			5		2		3	1	AF.5	Shares and other equity	3	3				6			6
- 8		-1	-7		-6		-1	-1	AF.6	Insurance technical reserves		-7				-7	-1		- 8
- 7		-3	-5		-1			-3	AF.7	Other accounts receivable/payable	-3			-2	-1	-6	-1		- 7
									B.10.32	Changes in net worth due to real holding gains/losses	51	5	12	9	2	80	-1		78

8.60. The aim of the balance sheets is to give a picture of the assets, liabilities and net worth of units at the start and end of the accounting period and of changes between balance sheets. The sequence is as follows:

8.61. The opening balance sheet records the value of assets and liabilities held by units at the start of the accounting period. These items are categorized on the basis of the classification of assets and liabilities. They are valued at prices current at the start of the accounting period. The difference between assets and liabilities — the balancing item in the account — is the net worth at the start of the accounting period.

8.62. The changes in balance sheet account records changes in the value of assets and liabilities in the course of the accounting period and aggregates the amounts recorded in the various accumulation accounts, i. e. change in net worth due to saving and capital transfers, change in net worth due to other volume changes in assets and change in net worth due to nominal holding gains and losses.

8.63. The closing balance sheet records the value of assets and liabilities held by units at the end of the accounting period. These items are categorised on the basis of the same classification used in the opening balance sheet and are valued at prices current at the end of the period. The difference between assets and liabilities is the net worth at the end of the accounting period.

8.64. The value of an asset or liability in the closing balance sheets is equal to the sum of its value in the opening balance sheets and the amount recorded for the said item in the changes in balance sheet account.

REST OF THE WORLD ACCOUNTS (V)

8.65. The Rest of the World accounts record transactions between resident and non-resident units. The rest of the world does not constitute an institutional sector as such, but in the structure of the system it plays a similar role.

8.66. The sequence of Rest of the World accounts follows the same general pattern as the institutional sector accounts, i. e.:

8.67.	These accounts are drawn up from the point of view of the rest of the world. Thus, what is a resource for the rest of the world is a use for the total economy and vice versa. By the same token, a financial asset held by the rest of the world is a liability for the total economy and vice versa (except monetary gold and special drawing rights). Table 8.15 — Account IV: Balance sheets Assets Liabilities and net worth Accounts Total Corresponding entries of the S.1 Total economy S.15 NPISHs S.14 Households S.13 General government S.12 Financial corporations S.11 Non-financial corporations Transactions and balancing items S.11 Non-financial corporations S.12 Financial corporations S.13 General government S.14 Households S.15 NPISHs S.1 Total economy Corresponding entries of the Total Accounts Goods and services account Rest of the World account Rest of the World account Goods and services account IV.1.Opening balance sheet 9922 9 922 324 2 822 1 591 144 5 041 AN Non-financial assets 6047 6 047 243 1 698 1 001 104 3 001 AN.1 Produced assets 5544 5 544 231 1 423 913 99 2 878 AN.11 Fixed assets 231 231 2 97 47 85 AN.12 Inventories 272 272 10 178 41 5 38 AN.13 Valuables 3875 3 875 81 1 124 590 40 2 040 AN.2 Non-produced assets 3809 3 809 81 1 124 578 37 1 989 AN.21 Tangible non-produced assets 66 66 12 3 51 AN.22 Intangible non-produced assets 7365 573 6 792 172 1 819 396 3 508 897 AF Financial assets/liabilities 1 817 3 384 687 289 121 6 298 297 6595 IV.1.Opening balance sheet 770 770 80 690 AF.1 Monetary gold and SDRs 1587 105 1 482 110 840 150 382 AF.2 Currency and deposits 40 1 281 102 10 38 1 471 116 1587 1388 125 1 263 25 198 950 90 AF.3 Securities other than shares 44 1 053 212 2 1 311 77 1388 1454 70 1 384 8 24 115 1 187 50 AF.4 Loans 897 328 169 43 1 437 17 1454 1409 113 1 296 22 411 12 651 200 AF.5 Shares and other equity 687 715 4 1 406 3 1409 396 26 370 4 291 20 30 25 AF.6 Insurance technical reserves 12 335 19 5 371 25 396 361 134 227 3 55 19 150 AF.7 Other accounts receivable/payable 137 22 108 35 302 59 361 B.90 Net worth 4 121 268 1 300 4 352 375 10 416 276 10692 IV.2.Changes in balance sheet Total changes in assets/liabilities 482 482 25 110 56 1 290 AN Non-financial assets 289 289 21 61 25 -1 182 AN.1 Produced assets 239 239 21 47 20 1 150 AN.11 Fixed assets 34 34 4 1 29 AN.12 Inventories 16 16 10 4 -2 3 AN.13 Valuables 193 193 4 49 30 2 108 AN.2 Non-produced assets 191 191 4 48 30 1 108 AN.21 Tangible non-produced assets 2 2 1 AN.22 Intangible non-produced assets 787 57 730 33 199 123 294 81 AF Financial assets/liabilities 155 285 176 33 28 677 91 767 IV.2.Changes in balance sheet 19 1 18 1 17 AF.1 Monetary gold and SDRs 130 11 119 12 68 7 15 17 AF.2 Currency and deposits 130 2 132 -2 130 187 9 178 13 35 29 80 21 AF.3 Securities other than shares 7 87 71 165 22 187 250 10 240 5 45 163 27 AF.4 Loans 68 93 28 24 213 37 250 80 5 75 1 13 34 19 9 AF.5 Shares and other equity 42 30 4 77 3 80 38 38 38 AF.6 Insurance technical reserves 38 38 38 82 21 61 8 40 6 7 AF.7 Other accounts receivable/payable 37 10 5 52 30 82 B.10 Changes in net worth, total due to: 216 10 2 276 31 535 -34 501 B.10.1 Saving and capital transfers 65 4 -38 178 21 230 -38 192 B.10.2 Other changes in volume of assets 17 -4 2 2 17 17 B.10.3 Nominal holding gains/losses 134 10 38 96 10 288 4 292 B.10.31 Neutral holding gains/losses 82 5 26 87 8 208 6 214 B.10.32 Real holding gains/losses 51 5 12 9 2 80 -1 78 IV.3.Closing balance sheet 10404 10 404 349 2 932 1 647 145 5 331 AN Non-financial assets 6336 6 336 264 1 759 1 026 103 3 183 AN.1 Produced assets 5783 5 783 252 1 470 933 100 3 028 AN.11 Fixed assets 265 265 2 101 48 114 AN.12 Inventories 288 288 10 188 45 3 41 AN.13 Valuables 4068 4 068 85 1 173 620 42 2 148 AN.2 Non-produced assets 4000 4 000 85 1 172 608 38 2 097 AN.21 Tangible non-produced assets 68 68 1 12 3 51 AN.22 Intangible non-produced assets 8152 630 7 522 205 2 018 519 3 802 978 AF Financial assets/liabilities 1 972 3 669 863 322 149 6 975 388 7362 IV.3.Closing balance sheet 788 788 81 707 AF.1 Monetary gold and SDRs 1717 116 1 601 122 908 157 15 399 AF.2 Currency and deposits 40 1 411 104 10 38 1 603 114 1717 1575 134 1 441 38 233 29 1 030 111 AF.3 Securities other than shares 51 1 140 283 2 1 476 99 1575 1704 80 1 624 8 29 160 1 350 77 AF.4 Loans 965 421 197 67 1 650 54 1704 1489 118 1 371 23 424 46 670 209 AF.5 Shares and other equity 729 745 4 4 1 483 6 1489 434 26 408 4 329 20 30 25 AF.6 Insurance technical reserves 12 373 19 5 409 25 434 443 155 288 11 95 25 157 AF.7 Other accounts receivable/payable 174 32 113 35 354 89 443 B.90 Net worth 4 337 278 1 302 4 628 406 10 951 242 11193
Assets	Liabilities and net worth
Accounts	Total	Corresponding entries of the	S.1 Total economy	S.15 NPISHs	S.14 Households	S.13 General government	S.12 Financial corporations	S.11 Non-financial corporations	Transactions and balancing items	S.11 Non-financial corporations	S.12 Financial corporations	S.13 General government	S.14 Households	S.15 NPISHs	S.1 Total economy	Corresponding entries of the	Total	Accounts
Goods and services account	Rest of the World account	Rest of the World account	Goods and services account
IV.1.Opening balance sheet	9922			9 922	324	2 822	1 591	144	5 041	AN	Non-financial assets
6047			6 047	243	1 698	1 001	104	3 001	AN.1	Produced assets
5544			5 544	231	1 423	913	99	2 878	AN.11	Fixed assets
231			231	2	97	47		85	AN.12	Inventories
272			272	10	178	41	5	38	AN.13	Valuables
3875			3 875	81	1 124	590	40	2 040	AN.2	Non-produced assets
3809			3 809	81	1 124	578	37	1 989	AN.21	Tangible non-produced assets
66			66			12	3	51	AN.22	Intangible non-produced assets
7365		573	6 792	172	1 819	396	3 508	897	AF	Financial assets/liabilities	1 817	3 384	687	289	121	6 298	297		6595	IV.1.Opening balance sheet
770			770			80	690		AF.1	Monetary gold and SDRs
1587		105	1 482	110	840	150		382	AF.2	Currency and deposits	40	1 281	102	10	38	1 471	116		1587
1388		125	1 263	25	198		950	90	AF.3	Securities other than shares	44	1 053	212	2		1 311	77		1388
1454		70	1 384	8	24	115	1 187	50	AF.4	Loans	897		328	169	43	1 437	17		1454
1409		113	1 296	22	411	12	651	200	AF.5	Shares and other equity	687	715	4			1 406	3		1409
396		26	370	4	291	20	30	25	AF.6	Insurance technical reserves	12	335	19		5	371	25		396
361		134	227	3	55	19		150	AF.7	Other accounts receivable/payable	137		22	108	35	302	59		361
									B.90	Net worth	4 121	268	1 300	4 352	375	10 416	276		10692
IV.2.Changes in balance sheet											Total changes in assets/liabilities
482			482	25	110	56	1	290	AN	Non-financial assets
289			289	21	61	25	-1	182	AN.1	Produced assets
239			239	21	47	20	1	150	AN.11	Fixed assets
34			34		4	1		29	AN.12	Inventories
16			16		10	4	-2	3	AN.13	Valuables
193			193	4	49	30	2	108	AN.2	Non-produced assets
191			191	4	48	30	1	108	AN.21	Tangible non-produced assets
2			2		1				AN.22	Intangible non-produced assets
787		57	730	33	199	123	294	81	AF	Financial assets/liabilities	155	285	176	33	28	677	91		767	IV.2.Changes in balance sheet
19		1	18			1	17		AF.1	Monetary gold and SDRs
130		11	119	12	68	7	15	17	AF.2	Currency and deposits		130	2			132	-2		130
187		9	178	13	35	29	80	21	AF.3	Securities other than shares	7	87	71			165	22		187
250		10	240		5	45	163	27	AF.4	Loans	68		93	28	24	213	37		250
80		5	75	1	13	34	19	9	AF.5	Shares and other equity	42	30			4	77	3		80
38			38		38				AF.6	Insurance technical reserves		38				38			38
82		21	61	8	40	6		7	AF.7	Other accounts receivable/payable	37		10	5		52	30		82
									B.10	Changes in net worth, total due to:	216	10	2	276	31	535	-34		501
									B.10.1	Saving and capital transfers	65	4	-38	178	21	230	-38		192
									B.10.2	Other changes in volume of assets	17	-4	2	2		17			17
									B.10.3	Nominal holding gains/losses	134	10	38	96	10	288	4		292
									B.10.31	Neutral holding gains/losses	82	5	26	87	8	208	6		214
									B.10.32	Real holding gains/losses	51	5	12	9	2	80	-1		78
IV.3.Closing balance sheet	10404			10 404	349	2 932	1 647	145	5 331	AN	Non-financial assets
6336			6 336	264	1 759	1 026	103	3 183	AN.1	Produced assets
5783			5 783	252	1 470	933	100	3 028	AN.11	Fixed assets
265			265	2	101	48		114	AN.12	Inventories
288			288	10	188	45	3	41	AN.13	Valuables
4068			4 068	85	1 173	620	42	2 148	AN.2	Non-produced assets
4000			4 000	85	1 172	608	38	2 097	AN.21	Tangible non-produced assets
68			68		1	12	3	51	AN.22	Intangible non-produced assets
8152		630	7 522	205	2 018	519	3 802	978	AF	Financial assets/liabilities	1 972	3 669	863	322	149	6 975	388		7362	IV.3.Closing balance sheet
788			788			81	707		AF.1	Monetary gold and SDRs
1717		116	1 601	122	908	157	15	399	AF.2	Currency and deposits	40	1 411	104	10	38	1 603	114		1717
1575		134	1 441	38	233	29	1 030	111	AF.3	Securities other than shares	51	1 140	283	2		1 476	99		1575
1704		80	1 624	8	29	160	1 350	77	AF.4	Loans	965		421	197	67	1 650	54		1704
1489		118	1 371	23	424	46	670	209	AF.5	Shares and other equity	729	745	4		4	1 483	6		1489
434		26	408	4	329	20	30	25	AF.6	Insurance technical reserves	12	373	19		5	409	25		434
443		155	288	11	95	25		157	AF.7	Other accounts receivable/payable	174		32	113	35	354	89		443
									B.90	Net worth	4 337	278	1 302	4 628	406	10 951	242		11193

8.68. Imports of goods and services are recorded on the resources side of the account and exports of goods and services on the uses side. The difference between resources and uses is the balancing item in the account, called ‘external balance of goods and services’. If it is positive, there is a surplus for the rest of the world and a deficit for the total economy and vice versa if it is negative.

8.69. In order to be consistent with measures of the output of resident units, imports are valued at an equivalent of the basic price, i. e. net of import taxes but including import subsidies. Imports of goods recorded in the external account of goods and services are valued fob, i. e. at the border of the country of export. Exports of goods are also valued fob. When transport and insurance services included in the fob value of imports of goods (i. e. between the factory and the border of the country of export) are provided by resident units, they must be included in the value of exports of services by the economy importing the goods. Conversely, when transport and insurance services included in the fob value of exports of goods are provided by non-resident units they must be included in the value of imports of services by the economy exporting the goods.

8.70. The purpose of the external account of primary incomes and current transfers is to determine the current external balance, which, in the structure of the system, corresponds to saving by the institutional sectors. This account is a condensed version of the sequence, for an institutional sector, extending from the allocation of primary income account to the use of income account.

8.71. On the resources side, the external account of primary incomes and current transfers shows the external balance of goods and services. It also records, on the resources or uses side, all distributive transactions which may involve the rest of the world, apart from capital transfers.

8.72. The Rest of the World capital account records acquisitions less disposals of non-produced non-financial assets by non-resident units and measures the changes in net worth due to saving and capital transfers.

8.73. The balancing item of the capital account is the net lending or borrowing of the rest of the world. It is equal, but has the opposite sign, to the sum of the net lending or borrowing of the resident institutional sectors.

8.74. The layout of the Rest of the World financial account is identical to that of the institutional sectors' financial account.

8.75. As for the institutional sectors, the changes in net worth due to other changes in volume of assets and due to nominal holding gains and losses are determined successively, holding gains and losses themselves being broken down into neutral and real holding gains and losses.

8.76. The absence of produced assets in the accumulation accounts and balance sheets of the rest of the world is due to the convention whereby a notional institutional unit is created, the rest of the world being deemed to have acquired a financial asset — and vice versa for assets held in other economies by resident units.

8.77. The balance sheets of the rest of the world contain financial assets and liabilities. On the assets side, they record the total acquisitions less disposals between non-resident and resident units of monetary gold and SDRs.

Reading this document does not replace reading the official text published in the Official Journal of the European Union. We assume no responsibility for any inaccuracies arising from the conversion of the original to this format.

This text is published under EUR-Lex's own terms of reuse, not a Legalize or public-domain licence. EUR-Lex
Creative Commons Attribution 4.0 International (CC BY 4.0)
© European Union, https://eur-lex.europa.eu — Source: EUR-Lex (Publications Office of the European Union). Reused under the Creative Commons Attribution 4.0 International (CC BY 4.0) licence. Only EU legislation published in the printed Official Journal of the European Union is deemed authentic; consolidated texts are reproduced here for documentation purposes and have been reformatted to Markdown.