Metadata: Creditor/Market​

C. Supplementary information on debt, Liabilities (Lines 16-23)

Line 16_International debt securities, all maturities

The data are derived from quarterly BIS statistics on issues of money market instruments, bonds and notes in international markets and are based on information provided by various market sources (such as Euroclear, Dealogic, Thomson Financial Securities Data and ISMA).

International debt securities cover all foreign currency issues by residents and non-residents in a given market, including in the borrower's own currency, and foreign bonds (domestic currency bonds issued by non-residents in a given market). Certain territories are included under larger country aggregates, as summarized in the table relating to line 1. The international securities statistics thus exclude all domestic currency issues by residents targeted to their own national market, whether purchased by residents or non-residents. The statistics includes "repackaged securities", for example, the global issues for Argentina, resulting from the April 2005 exchange offer.

The international securities statistics provide data on:

  • net new issues, corresponding to the difference between completed issues and redemptions (redemptions include both scheduled repayments and early redemptions of outstanding paper); and
  • issues outstanding at the end of each quarter, after allowing for redemptions.

Data on amounts outstanding are calculated using end-period exchange rates. Completed new issues and redemptions are valuated using period average exchange rates. The difference between changes in the stocks of bonds outstanding valued at current exchange rates and net new issues is accounted for by valuation effects resulting from exchange rate movements.

In contrast to the international banking statistics, the international securities statistics compiled by the BIS are based on security by security data. In addition to the amount of funds raised and the dates of announcement and completion of deals, information on individual securities includes the types of issuer (immediate borrower and ultimate borrower), type of issue, country of residence and nationality of issuer. The information also contains the terms (interest rates, spreads, maturity, etc.) and conditions (call provisions, conversion clauses, etc.) of individual issues. The aggregation is made by the BIS across the following dimensions: the currency of issue, the business sectors of issuer, the type of issue, the country of residence and the nationality of issuers. The geographical classification in the joint statistics on external debt is based on the country of residence, which identifies the location of the borrower and not the ultimate credit risk (for example, a bond issued by Volkswagen Brazil is considered as a liability of Brazil and not of Germany, irrespective of whether the bond is guaranteed by the head office of Volkswagen or not). This classification is consistent with the geographical breakdown provided in the BIS international banking statistics and also with the balance of payments methodology.

The sectoral classification in the joint statistics on external debt is based on the sector of the borrower itself (immediate borrower) and not on the sector of the parent company of the borrower or any guarantor (Toyota finance is classified as a financial institution, irrespective of the fact that the parent company is a nonfinancial corporate).

Line 17__o/w issued by nonbanks [Previously known as International debt securities, nonbanks]

Nonbanks are defined as the sum of nonfinancial corporates, financial corporates, local governments, central banks and central governments. For additional details, see line 16.

Line 18_International debt securities, short term
Line 19__o/w issued by nonbanks [Previously known as International debt securities, nonbanks]
Line 20_Paris Club claims (ODA)
Line 21_Paris Club claims (non ODA)
Line 22_Liabilities to BIS banks, locational, total

This memorandum item provides total cross-border liabilities (all instruments) to banks that report the BIS Locational Banking Statistics. See also line 1 for details ​

Line 23_Liabilities to BIS banks, consolidated, total

This memorandum item provides total international liabilities (all instruments) to banks that report the BIS Consolidated Banking Statistics. See line also 12 for details.