Back Matter

Back Matter

Author(s):
Anne Kester
Published Date:
October 2001
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    Index

    Entries refer to corresponding paragraph numbers within the text.

    American Depository Receipts (ADRs), 79

    American-style options, 222, 228

    Amortization schedules, 152

    Asset-backed securities

    • predetermined drains, 162

    Authorities. See Monetary authorities

    Balance of Payments Manual

    • concept of international reserves, 9, 65

    • foreign exchange defined, 77

    • monetary authorities defined, 21

    • reconciling concept of reserves and template data, 110–117

    • reserve assets defined, 60

    Bank for International Settlements

    • credit lines, 211–212

    • deposits held in, 92

    • short-term loans to, 93

    Bankers’ acceptances

    • predetermined drains, 163

    Banks. See also Financial institutions

    • defined, 92

    • deposits held in, 92

    Benchmark revaluations, 130

    BIS. See Bank for International Settlements

    Black-Scholes formula, 272

    Bonds

    • predetermined drains, 162

    • puttable, 199–205

    Bought calls, 223

    Bought options, 182

    Bought puts, 223

    BPM5. See Balance of Payments Manual

    Brady bonds, 162

    Branches of financial institutions, 104–105, 108

    Building societies

    • deposits held in, 92

    Bullion banks, 99

    Buybacks

    • reporting securities in data template, 81

    Call options, 182, 228, 234

    Central Banks

    Group of Ten, 3, 279

    Central banks

    • credit lines, 211–213

    Central government

    • coverage in data template, 20

    • defined, 22

    Certificates of deposit

    • predetermined drains, 162–163

    CGFS. See Committee on the Global Financial System

    Closure netting, 150

    Collateral guarantees, 193–195

    Collateralized loans, 84, 85

    Collateralized mortgage obligations

    • predetermined drains, 162

    Commercial banks

    • deposits held in, 92

    Commercial paper

    • predetermined drains, 163

    Committee on the Global Financial System

    • Operational Guidelines template development, 3, 279

    Contingent liabilities, 191–198

    Contingent net drains, 48, 180–190

    Contractual obligations, 180

    Convertible bonds

    • predetermined drains, 162

    Cooperatives

    • deposits held in, 92

    Counterparty claims, 107–108

    Country notes, 42, 58

    Credit events, 202

    Credit lines, 206–221

    Credit unions

    • deposits held in, 92

    Cross-currency swaps, 173

    Cross default/cross acceleration clauses, 203

    Currencies

    • market valuation, 133

    • reporting in data template, 37, 77, 94, 113

    Currency liquidity. See Foreign currency liquidity

    Currency swaps, 173

    Currency unions

    • reporting reserve assets, 23

    Data template

    • country notes, 42, 58

    • currencies reported, 37

    • data for institutions headquartered in and outside of the reporting country, 103–109

    • disclosing reserve assets and other foreign currency assets, 58–63

    • dissemination of data, 43

    • features of, 20–44

    • financial activities covered, 24–25

    • financial derivatives activities, 26–31

    • framework of, 4–8

    • gold reporting, 98–101

    • IMF reserve position, 96

    • institutions covered, 20–23

    • items not applicable, 40

    • other reserve assets reporting, 102

    • Pro Memoria section, 231–235

    • reconciling BPM5 concept of reserves, 110–117

    • reference date, 38

    • reporting data, 37–44

    • reporting foreign currency reserves, 77–78

    • securities reporting, 79–90

    • special drawing rights reporting, 97

    • structure of, 45–50

    • time horizon, 35–36

    • total deposits reporting, 91–95

    • transaction dates, 39

    • types of data reported, 46

    • valuation principles, 32–34

    Debentures

    • predetermined drains, 162

    Debt securities

    • market valuation, 132

    • predetermined drains, 162, 165

    • reporting on data template, 79

    Demand deposits, 91

    Deposit insurance, 195

    Deposits

    • in banks headquartered in and outside of the reporting country, 107

    • foreign currency reserves, 77

    • market valuation, 133

    “on call,” 161

    • reconciling BPM5 concept of reserves and template data, 114

    • reporting in data template, 91–95

    Diamonds, 98

    Discounted bonds

    • predetermined drains, 162

    Discrete puts, 202

    Domestic currency debt

    • short-term, 242

    Dual-currency bonds

    • predetermined drains, 162

    Equity securities

    • market valuation, 131

    • reporting on data template, 79

    ESAF Trust Loan Account, 93, 215

    European-style options, 222, 228

    Exchange rates, 146

    Exercise dates, 228

    Exercise price. See Strike price

    External assets, 62, 69

    External liabilities, 153–158

    Federal National Mortgage Association (Fannie Mae), 191

    Financial derivatives assets

    • activities, 26–31

    • market valuation, 134, 267–272

    • net, marked-to-market values, 262–273

    • with residual maturity of greater than one year, 244–245

    Financial institutions

    • branches and subsidiaries, 104–105, 108

    • credit lines, 211–213

    • deposits held in, 92

    • headquartered abroad but located in the reporting country, 105

    • headquartered in the reporting country, 103–104

    • headquartered in the reporting country but located abroad, 104

    • headquartered outside the reporting country, 103, 105

    • reserve assets in resident financial institutions, 60

    Financial instruments

    • denominated in foreign currency and settled by other means, 247–254

    Financing agreements, 211

    Floating-rate bonds

    • predetermined drains, 162

    Flow data, 38

    Flow of funds accounts, 152

    Flows

    • data template section reported in, 46, 49

    Foreign currency assets. See also Official reserve assets; Other foreign currency assets

    • contingent liabilities, 191–198

    • contingent net drains, 180–190

    • convertible, 67

    • defined, 59

    • defining predetermined drains, 138–143

    • deposits in resident banks, 108

    • disclosing, 58–63

    • external assets, 62

    • options, 222–235

    • ownership, 68

    • predetermined drains, 138–152

    • reserve assets, 66–67

    • securities with embedded options, 199–205

    • undrawn, unconditional credit lines, 206–221

    Foreign currency deposits, 197

    Foreign currency flows

    • associated with loans and securities, 159–166

    • other predetermined drains, 178–179

    • relating to forwards, futures, and swaps, 167–177

    • unlike data on external liabilities, 153–158

    Foreign currency liquidity

    • concepts for data template, 15–19

    • data deficiencies, 1

    • data template for, 4–8

    • importance of timely disclosure, 2

    • instruments included in resources and drains, 24

    • linkages with international reserves concepts, 19

    • off-balance-sheet activities, 5

    Foreign currency loans, 161, 197

    Foreign currency reserves

    • deposits, 77

    • reconciling BPM5 concept of reserves and template data, 116

    • reporting in data template, 77–78

    • securities, 77, 109

    • as type of reserve asset, 75

    Foreign exchange assets

    • defined, 77

    • reconciling BPM5 concept of reserves and template data, 112

    • swap agreements, 73

    • as type of reserve asset, 12, 75

    Foreign exchange guarantees, 195

    Foreign exchange swaps, 173

    Forward contracts, 171–173, 273

    Forward transactions, 212

    Forwards, 102, 167–177

    Future delivery transactions, 212

    Futures, 102, 167–177

    Futures contracts, 171–172, 273

    GAB. See General Arrangements to Borrow

    General Arrangements to Borrow

    • commitments to the IMF, 214

    • reserve position, 96

    Gold

    • market valuation, 135

    • reconciling BPM5 concept of reserves and template data, 112

    • reporting in data template, 98–101

    • as type of “other foreign currency asset,” 125

    • as type of reserve asset, 12, 75–76

    Gold deposits

    • reporting in data template, 98–99

    Gold on loan, 98

    Gold swaps, 98, 100–101, 178, 258

    Group of Ten

    Committee on the Global Financial System, 3, 279

    Guarantees, 193–195

    Hard puts, 203

    IIP. See International investment position

    IMF. See International Monetary Fund

    Immediate delivery transactions, 212

    In-the-money options, 31, 226, 228, 231–235, 251

    Indexed bonds

    • predetermined drains, 162

    Indexed securities, 248

    Inflows

    • data template section reported in, 46, 50

    • predetermined drains, 139–140, 145, 148, 150–151, 166, 179

    Institutions. See Financial institutions

    International financial architecture

    • data deficiencies, 1

    • development of framework, 3

    • financial activities covered by data template, 24–25

    • financial derivatives activities, 26–31

    • foreign currency liquidity concepts, 15–19

    • importance of timely disclosure, 2

    • institutions covered by data template, 20–23

    • international reserves concepts, 9–14

    • reporting and dissemination considerations, 37–44

    • structure of data template, 45–50

    • structure of Operational Guidelines, 51–57

    • template for, 4–8

    • time horizon, 35–36

    • valuation principles, 32–34

    International investment position, 154–158

    International Monetary Fund

    Balance of Payments Manual, 9

    • loans to, 70

    Operational Guidelines template development, 3

    • reserve position, 96

    • short-term loans to, 93

    International reserves

    • concepts for data template, 9–14

    • “controlled by” concept, 11, 13

    • data deficiencies, 1

    • data template for, 4–8

    • defined, 9

    • importance of timely disclosure, 2

    • linkages with foreign currency liquidity concepts, 19

    • “readily available” concept, 11, 13

    • residency concept, 10

    • types of, 12

    Internet

    • dissemination of data, 43

    Letters of credit, 197

    Lines of credit, 73

    Loans

    • guarantees, 195

    • pledged assets, 72

    • predetermined drains, 149, 153–154, 159–161

    • reserve assets, 70

    • short-term, 93, 102, 160–161

    Local governments

    • exclusion from central government definition, 22

    Long legs, 173

    Long positions, 28, 150, 177, 182, 222–230

    Long-term loans, 160

    Long-term securities, 79

    Margining, 259

    Marked-to-market values. See Net, marked-to-market values

    Market valuation

    • of currency, 133

    • of deposits, 133

    • of financial derivatives, 134, 267–272

    • of monetary gold, 135

    • of reserve assets, 117, 128–130

    • of reserve position in the IMF, 137

    • of securities, 131–132

    • of special drawing rights, 136

    Marketable assets, 65

    Marking to market, 263

    Memo items. See Memorandum items

    Memorandum items

    • coverage of, 236–246

    • currency composition of reserves, 246

    • financial derivatives assets, 262–273

    • financial derivatives with residual maturity of greater than one year, 244–245

    • financial instruments denominated in foreign currency and settled by other means, 247–254

    • pledged assets, 243

    • reporting of, 25

    • repurchase agreements, 255–261

    • securities lent, 255–261

    • short-term domestic currency debt, 242

    • Special Data Dissemination Standard, 274–280

    Monetary authorities

    • claims on nonresidents, 69

    • coverage in data template, 20

    • defined, 21

    • loans provided by, 70

    • ownership of reserve assets, 68

    • pledged assets, 72

    • real estate ownership, 74

    • reverse repos, 86–87

    • transfers of foreign currency claims, 71

    Monetary gold. See Gold

    Money market instruments

    • predetermined drains, 163

    NAB. See New Arrangements to Borrow

    NDFs. See Nondeliverable forwards

    Negotiable certificates of deposit

    • predetermined drains, 163

    Net, marked-to-market values

    • financial derivatives activities, 29, 262–273

    • reporting in data template, 50, 102

    • as type of “other foreign currency asset,” 125

    Net drains, 15, 139, 180–190

    Net international reserves, 17

    Netting by novation, 150, 266

    New Arrangements to Borrow

    • commitments to the IMF, 214

    • reserve position, 96

    Nondeliverable forwards, 176, 248–250, 252–254

    Nondeliverable options, 248, 251

    Nonissued securities, 79

    Nonparticipating preferred stocks

    • predetermined drains, 162

    Nonresidents

    • claims of the monetary authorities, 69

    • foreign currency securities issued by, 79

    • loans to, 70

    • reconciling BPM5 concept of reserves and template data, 116

    Notes

    • predetermined drains, 162

    Notional values, 34, 50, 222–223, 225, 227–228

    Off-balance-sheet activities, 5, 138

    Official reserve assets. See also Other reserve assets

    • currency composition of, 246

    • defined, 59, 64

    • deposits, 92

    • disclosing, 58–63

    • exclusion of pledged assets, 72

    • external assets, 62, 69

    • financial instruments, 75

    • foreign currency assets, 66–67

    • loans, 70

    • market valuation, 117, 128–130

    • marketable assets, 65

    • ownership, 68

    • quality of, 89

    • “readily available” assets, 65

    • reconciling BPM5 concept of reserves and template data, 110–117

    • reserve assets as, 14

    • residency concept, 69

    On-balance-sheet obligations, 138

    Option agreements, 222

    Options

    • definitions of terms, 228

    • in-the-money options, 231–235

    • long positions, 222–230

    • market valuation, 272

    • notional values, 222–223, 225, 227

    • short positions, 222–230

    • as type of “other reserve asset,” 102

    OTC instruments. See Over-the-counter instruments

    Other foreign currency assets

    • defined, 59

    • defining, 118–127

    • gold, 98

    • market valuation, 128–129

    • reporting of assets, 62

    Other reserve assets

    • reporting in data template, 102

    • short-term foreign currency loans, 93

    Out-of-the-money options, 228, 251

    Outflows

    • data template section reported in, 46, 50

    • predetermined drains, 139–140, 145, 148–151, 179

    Over-the-counter instruments, 171

    Participation certificates

    • predetermined drains, 162

    Pledged assets, 72, 243

    Position data, 38

    • data template section reported in, 46

    Positions

    • data template section reported in, 46, 49

    Post office savings banks

    • deposits held in, 92

    Precious metals and stones, 98

    Predetermined drains

    • associated with loans and securities, 159–166

    • defining, 138–143

    • examples, 48

    • other predetermined foreign currency flows, 178–179

    • relating to forwards, futures, and swaps, 167–177

    • reporting data, 144–152

    • unlike data on external liabilities, 153–158

    Prevailing market price, 267–268

    Pro Memoria section, 231–235

    Public debt securities

    • predetermined drains, 165

    Pure credit facilities, 213

    Put options, 182, 199, 228, 234

    Puttable bonds, 199–205

    Real estate

    • owned by monetary authorities, 74

    Reciprocal currency arrangements, 211–212

    Reference dates, 38, 129, 144

    Remaining maturity. See Residual maturity

    Repos. See Repurchase agreements

    Repurchase agreements

    • defined, 82

    • differentiating from reserve assets, 72

    • predetermined drains, 151, 178

    • reporting securities in data template, 81, 84–86, 102, 255–261

    Reserve assets. See International reserves; Official reserve assets; Other reserve assets

    Reserve position in the IMF

    • defined, 96

    • market valuation, 137

    • reconciling BPM5 concept of reserves and template data, 112

    • as type of reserve asset, 12, 75–76

    Reserve tranche, 96

    Resident financial institutions

    • reserve assets in, 60

    Residual maturity

    • for contingent net drains, 185

    • defined, 36

    Revaluation dates, 131

    Reverse repos

    • defined, 82

    • predetermined drains, 151, 178

    • reporting securities in data template, 84–87, 256

    Savings and loan associations

    • deposits held in, 92

    Savings banks

    • deposits held in, 92

    SDDS. See Special Data Dissemination Standard

    SDRs. See Special drawing rights

    Securities

    • with embedded options, 199–205

    • foreign currency reserves, 77, 109, 115

    • guarantees, 195

    • indexed, 248

    • market valuation, 131–132

    • predetermined drains, 149, 153–154, 162–166

    • quality of, 89

    • reconciling BPM5 concept of reserves and template data, 115

    • reporting in data template, 79–90

    • underwriting agreements, 197

    Securities lending

    • defined, 83

    • differentiating from reserve assets, 72

    • predetermined drains, 178

    • reporting in data template, 81, 84, 255–261

    Securities lent/borrowed

    • reporting in data template, 88

    Sellbacks

    • reporting securities in data template, 81

    Settlement dates, 39

    Short legs, 173

    Short positions, 28, 150, 177, 182, 222–230

    “Short-term”

    • defined, 35

    Short-term domestic currency debt, 242

    Short-term drains, 139, 142

    Short-term loans, 93, 102, 160–161

    Silver bullion, 98

    Social security funds

    • defined, 22

    Soft puts, 203

    Special Data Dissemination Standard, 183, 274–280

    Special drawing rights

    • currency composition of reserves, 246

    • market valuation, 136

    • reconciling BPM5 concept of reserves and template data, 112

    • reporting in data template, 97

    • as type of reserve asset, 12, 75–76

    Spot transactions, 212

    State governments

    • exclusion from central government definition, 22

    Stock data

    • data template section reported in, 46

    Stress testing, 30–31, 183, 235

    Strike price, 146, 222, 228

    Subsidiaries of financial institutions, 104–105, 108

    Swap agreements

    • for foreign exchange assets, 73

    Swap facilities, 213

    Swap transactions, 212

    Swaps, 102, 167–177. See also Gold swaps

    Term deposits, 91, 197

    Test dates, 216

    Time horizon

    • in data template, 35–36

    Transaction dates, 39

    Transaction prices, 131

    Treasury bills

    • predetermined drains, 163

    Two-year bullets, 201

    Unconditional credit lines, 206–221

    Underwriting agreements, 197

    Undrawn credit lines, 206–221

    U.S. Treasury bonds, 79

    Valuation principles

    • in data template, 32–34

    • market valuation of reserve assets, 117

    Window dressing, 71

    Written calls, 223

    Written options, 182

    Written puts, 223

    Zero-coupon bonds

    • predetermined drains, 162

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