250. Chapter 4 discusses enterprise surveys (ES) that are used to approach principals to measure liabilities to, and claims on, nonresidents. However, additional collection arrangements may be required in countries in which (a) securities are issued by residents and acquired by nonresidents—particularly if the securities are held by resident custodians (nominees) on behalf of the nonresident principals; (b) securities are issued by nonresidents and acquired by residents; or (c) portfolio managers (banks or fund managers) place funds abroad on behalf of clients. Similarly, a country that uses an ITRS may have to make special arrangements to collect data on transactions that involve resident intermediaries acting on behalf of nonresidents. This chapter examines the role of financial intermediaries and their impact on the BOP and outlines ways in which the compiler may collect appropriate BOP data on international securities. (The term intermediaries is used broadly to include banks and security dealers, as well as companies that manage large share or bond registers in respect of their own shares or bonds.39)