Transcript m3reportrepurchaseAgreements

Results of the AEG e-discussion on
Reverse transactions
UN STATISTICS DIVISION
Economic Statistics Branch
National Accounts Section
Reverse transactions
Introduction
 No consensus over treatment
 Suggested that:



There is no change to current SNA treatment
Issue remain on the research agenda
That the following clarifications be added
 Added explanations on securities-lending and gold
loans
 Remove reference on not being able to on-sell
 Short positions as negative assets
Reverse transactions

cont
Comments


Securities lending and gold loans cannot be
treated as collateral loans as no lending
takes place
The negative asset adjustment is not
generally acceptable
Reverse transactions
Results
cont
Yes
No
No
response
1. Continue collateralized loan
approach
2. Agree to proposed
clarifications
3. Keep subject on research
agenda
8
2
4
11 2
1
13 1
Reverse transactions
cont
Conclusion
The consultation shows that most of the
AEG members participating support the
recommendations on reverse transactions
Thank You