Line 08__o/w other institutions [Previously known as Multilateral loans, other institutions]

The data are sourced from the African Development Bank, Asian Development Bank, and Inter-American Development, and IBRD loans and IDA credits from the World Bank.

Line 09_Insured export credit, Berne Union

·     Data refer to Berne Union members’ direct insurance or lending, i.e. amount reinsured by others are not deducted and amounts reinsured by members for others are not added. Countries are defined  based on ISO 3166-1. Amounts guaranteed by an international financial institution are allocated to that institution, not the country of residence of the borrower or guarantor.

·     Data in USD million. Stock data, i.e. total outstanding amounts at the end of each quarter (31 March, 30 June, 30 September and 31 December).

·     Total data include medium/long-term (MLT) exposures and short-term (ST) exposures. For metadata on ST exposure, see line 19.

·     In credit insurance, “Commitments”  are actual insurance given to cover actual loans. Thus, a Commitment means that a loan agreement (as well as the underlying project or export transaction agreement) has been signed, the insurance for this loan is in place, and the insurance premium has been paid or invoiced. In some cases a part of a loan may not yet have been disbursed – however the non-disbursed amount typically represents only a minor share of the total amount reported as Commitment.

MLT Exposure

·     MLT refers to medium/long term export credit insurance, i.e. insurance of export credits with credit terms of more than 12 months, also including insurance of export credits with shorter credit terms if the transaction involves an insured manufacturing (pre-credit) risk with a risk period of more than 12 months.

·      Most Berne Union members include both principal amounts and contract loan interest amounts in all figures reported, while some members only include principal amounts.

·      All amounts exclude uninsured percentages (typically up to 5-10%).

·      MLT Exposure is the sum of the following data, each defined below.

-             MLT Commitments

-             MLT Aid-Related Commitments

-             MLT Arrears

-             MLT Claims

-             MLT Refinanced/Rescheduled Amounts

-             MLT Overdues on Refinanced/Rescheduled Amounts

MLT Commitments

Total amounts insured under all current policies for which premium has been paid or invoiced and are not yet due for payment by debtors.

 MLT Aid-Related Commitments

Commitments that Berne Union members have underwritten for aid-related reasons rather than based on their normal criteria.

 MLT Arrears

Total amounts insured which are overdue for payment but for which claims have not been paid or rejected.

 MLT Claims

Total amounts outstanding of claims paid at any time in the past which have not been recovered or written off.

 MLT Refinanced/Rescheduled Amounts

Total amounts included in Paris Club or similar general refinancing / rescheduling agreements, whether representing commitments, arrears, or claims not reported as such.

 MLT Overdues on Refinanced/Rescheduled Amounts

Total amounts (of capital and/or interest) which have not been (re)paid as stipulated in Paris Club or similar general refinancing / rescheduling agreements.

·      Some Berne Union members also provide MLT lending – the categories used to allocate the lending are the same as for MLT insurance business as set out here.

Links to the Berne Union members can be found on the public website Click here   

Line 10__o/w short term [Previously known as Insured export credit exposures short term (BU)]

ST refers to insured export credits with credit terms up to and including 12 months, except for transactions involving an insured manufacturing (pre-credit) risk with a risk period of more than 12 months, which are classified as MLT.

·           Contract loan interest amounts are not included in the reported amounts, i.e. only principal amounts are included.

·           ST Exposure is comprised of ST Commitments only, as defined below.

 ST Commitments

Total amounts insured under all current policy limits for which premium has been paid or invoiced, including amounts overdue for payment (arrears) until claims have been paid or rejected, and including uninsured percentages.

Line 11_SDR allocation

SDRs are international reserve assets created by the IMF and allocated to members to supplement existing official reserves. Holdings of SDRs by an IMF member are recorded as an asset, while the allocation of SDRs is recorded as the incurrence of a liability of the member receiving them. The membership of the SDR Department incurs the asset and liability position among themselves, not with the IMF. The holdings and allocations should be shown gross, rather than netted (Balance of Payments and International Investment Position Manual, sixth edition (BPM6)).

The data are derived from the BIS Consolidated Banking Statistics (CBS), which comprise data on gross consolidated claims of banks resident in the CBS reporting are Click here The key organizational criteria is the consolidation principle by which participating banks report contractual and ultimate risk lending by the head office and all its branches and subsidiaries on a worldwide consolidated basis with inter-office accounts being netted out.

Data comprise all balance sheet items which represent financial claims on individual countries. Certain territories are included under larger country aggregates, as summarized in the table relating to line 1. The principal items are deposits and balances placed with banks, loans and advances to banks and non-banks and holdings of securities. The data also include cross-border claims in all currencies and local claims of reporting banks foreign affiliates in non-local currencies.

The concept of the "reporting area" for the purpose of the consolidated statistics differs from the locational data. The consolidated data are reported by 30 countries (see list below). In addition, the worldwide consolidation of individual banks’ balance-sheet positions means that in practice the corpus of reporting institutions extends well beyond the geographical boundaries of the reporting area and includes, inter alia, the offshore affiliates of banks whose head offices are in the reporting countries. The use of the expression "reporting area" in the consolidated statistical reporting system is therefore a convenience to indicate the countries to which banks submit data rather than the actual area covered.

The reporting area has grown over time and now comprises all banks (see details below) headquartered in 30 countries as listed below:

1. Australia (from end-2003)
2. Austria (1983)
3. Belgium (1983)
4. Brazil (2002)
5. Canada (1983)
6. Chile (2002)
7. Denmark (1983)
8. Finland (1985)
9. France (1983)
10. Germany (1983)
11. Greece (2003)
12. Hong Kong SAR (1997)
13. India (2001)
14. Ireland (1983)
15. Italy (1983)
16. Japan (1983)
17. Luxembourg (1983)
18. Mexico (2003)
19. Netherlands (1983)
20. Norway (1994)
21. Panama (2002)
22.Portugal (1999)
23. Singapore (2000)
24. Spain (1985)
25. Sweden (1983)
26. Switzerland (1983)
27. Taiwan, China (2000)
28. Turkey (2000)
29. United Kingdom (1983)
30. United States (1983)

The maturity breakdown for banks’ international financial claims is provided on the basis of remaining or residual maturities.

From first quarter 2000 onwards, the consolidated statistics are available on a quarterly basis. For previous periods CBS are available on a semi-annual basis only. Because line 1 and line 12 are derived from different reporting systems, short-term bank claims (line 12) can, in some cases, exceed total bank claims (line 1).

Line 13_Multilateral loans, IMF, short term

The data cover total IMF credit and loan obligations (principal and interest) falling due in the next twelve months and the obligations that are in arrears as at the end of the reporting period. The data are denominated in Special Drawing Rights (SDRs) and are converted to US dollars using the end-period exchange rate. The data are sourced from IMF records.

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

See line 14.