Transactions in financial assets and liabilities

A transaction in a financial asset or liability refers to the creation, transformation or cancellation of a financial claim or obligation. These transactions often occur as counterparts of non-financial transactions, but also as transactions involving only financial instruments. The transactions should be valued at the actual price agreed upon by the transactors, and they should be recorded at the time ownership changes (i.e. when claims or obligations arise, are transformed or are cancelled). The transaction values should exclude any commissions, fees and taxes (SNA paras. 2.29, 2.55, 2.59, 3.122).

Examples of transactions in financial assets and liabilities relevant to households are: purchases and sales of debt securities; purchases and sales of shares; deposits in and withdrawals from financial accounts; drawdown and repayment of loans; incurrence and repayment of credit card debt; and contributions to and withdrawals from pension fund accounts. Where relevant, transactions should be classified using the groupings recommended for financial assets and liabilities, described earlier in this chapter.

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