Metadata: Creditor/Market​

B1. Debt securities, All maturities (Line 14)

Line 14_Debt securities, held by nonresidents

The data are sourced from the IMF's Coordinated Portfolio Investment Survey (CPIS) database. Individual economy data on debt securities held by nonresidents are derived from other economies' CPIS creditor data. The relevant tables in the CPIS database are 1) derived portfolio investment liabilities: long-term debt securities; and 2) derived portfolio investment liabilities: short-term debt securities. 

Long-term debt securities cover instruments such as bonds, debentures, and notes that usually give the holder the unconditional right to a fixed cash flow or contractually determined variable money income and have an original term to maturity of more than one year. 

Short-term debt securities cover such instruments as treasury bills, commercial paper, and bankers' acceptances that usually give the holder the unconditional right to a stated fixed sum of money on a specified date. These instruments are usually traded on organized markets at a discount and have an original term to maturity of one year or less. 

The residence of holders and issuers of securities is determined by their center of economic interest. For enterprises, this is usually characterized by physical presence, and in some cases by legal domicile. All banks (whether branches or incorporated), insurance companies (whether branches or incorporated), and mutual funds are treated as resident in the jurisdiction where they are legally domiciled. 

Derived liability tables are generated in the CPIS database only when the sum of reported holdings of securities issued by a given country is at least US$10 million. 

The purpose of the CPIS is to collect information on the stock of cross-border holdings of equities and long- and short-term debt securities valued at market prices prevailing at the time of the CPIS, and broken down by the economy of residence of the issuer. The CPIS collects data on holdings of securities at end-December of the reference year. 

Considerable effort has been made to set standards for the compilation of CPIS data by documenting best practices in compilation (see CPIS Guide, Second Edition at Click here and to draw on the synergies released by a coordinated effort to conduct such surveys for a common reference date. For the core items, the result is a global database of holdings of reported cross-border holdings of securities and derived portfolio investment liabilities with the capacity for showing bilateral economy data from the creditor or debtor perspective. For further information on the CPIS, see Click here Individual economy data and metadata are available at Click here