Guideline (EU) 2018/861 of the European Central Bank of 24 April 2018 amending Guideline ECB/2013/23 on government finance statistics (ECB/2018/13)

15.6.2018 EN Official Journal of the European Union L 153/161 GUIDELINES GUIDELINE (EU) 2018/861 OF THE EUROPEAN CENTRAL BANK of 24 April 2018 amending Guideline ECB/2013/23 on government finance statistics (ECB/2018/13) THE EXECUTIVE BOARD OF THE EUROPEAN CENTRAL BANK, Having regard to the Treaty on the Functioning of the European Union, Having regard to the Statute of the European System of Central Banks and of the European Central Bank, and in particular Article 5.1 and 5.2, and Articles 12.1 and 14.3 thereof, Having regard to Council Regulation (EC) No 479/2009 of 25 May 2009 on the application of the Protocol on the excessive deficit procedure annexed to the Treaty establishing the European Community (1), Having regard to Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union (2), Whereas: (1) To fulfil its tasks, the European System of Central Banks (ESCB) needs comprehensive and reliable government finance statistics (GFS), inter alia, for monetary and economic analysis, monitoring the sustainability of public finances and preparing forecasts. (2) Under Article 8 of Guideline ECB/2013/23 (3), the Executive Board of the European Central Bank is entitled to make technical amendments to the Annexes to Guideline ECB/2013/23, provided that such amendments neither change the underlying conceptual framework nor affect the reporting burden. (3) Changes to the reporting requirements under Guideline ECB/2013/23 are necessary in order to achieve greater harmonisation of data sources across euro area Member States and across datasets. This will enable a more thorough analysis and facilitate the comparison of annual and quarterly statistics with forecasts of the same variables. (4) Therefore, Guideline ECB/2013/23 should be amended accordingly, HAS ADOPTED THIS GUIDELINE: Article 1 Amendments Annexes I and II to Guideline ECB/2013/23 are replaced by the text set out in the Annex to this Guideline. Article 2 Taking effect 1. This Guideline shall take effect on the day of its notification to the national central banks of the Member States whose currency is the euro. 2. The Eurosystem central banks shall comply with this Guideline from 1 September 2018. (1) OJ L 145, 10.6.2009, p. 1. (2) OJ L 174, 26.6.2013, p. 1. (3) Guideline ECB/2013/23 of 25 July 2013 on government finance statistics (OJ L 2, 7.1.2014, p. 12).L 153/162 EN Official Journal of the European Union 15.6.2018 Article 3 Addressees This Guideline is addressed to all Eurosystem central banks. Done at Frankfurt am Main, 24 April 2018. For the Executive Board of the ECB The President of the ECB Mario DRAGHI15.6.2018 EN Official Journal of the European Union L 153/163 ANNEX ‘ANNEX I DATA REPORTING REQUIREMENTS Revenue, expenditure and deficit/surplus statistics Table 1A Category Number and linear relation Deficit (–) or surplus (+) 1 = 6 – 21 1 = 2 + 3 + 4 + 5 Central government 2 State government 3 Local government 4 Social security funds 5 Total revenue 6 = 7 + 19 Total current revenue 7 = 8 + 9 + 13 + 16 + 17 Current taxes on income, wealth, etc. 8 Taxes on production and imports 9 Taxes on products 10 of which: value added tax (VAT) 11 Other taxes on production 12 Net social contributions 13 of which: employers' actual social contributions 14 of which: households' actual social contributions 15 Sales 16 Other current revenue 17 of which: interest receivable 18 Total capital revenue 19 of which: capital taxes 20 Total expenditure 21 = 22 + 31 Total current expenditure 22 = 23 + 24 + 26 + 27 + 28 + 29 + 30 Intermediate consumption 23 Compensation of employees 24 of which: wages and salaries 25 Interest payable 26 Subsidies payable 27 Social benefits other than social transfers in kind 28 Social transfers in kind – purchased market production 29 Other current expenditure 30L 153/164 EN Official Journal of the European Union 15.6.2018 Category Number and linear relation Total capital expenditure 31 = 32 + 33 + 34 Gross fixed capital formation 32 Other net acquisitions of non-financial assets and changes in inventories 33 Capital transfers payable 34 Memorandum items: Capital transfers representing taxes and social contributions assessed but unlikely 35 to be collected Table 1B Category Number and linear relation Revenue of the European Union (EU) budget and of the European Development 1 = 2 + 3 + 4 + 7 Fund (EDF) from the Member State Taxes on production and imports 2 Current international cooperation 3 Miscellaneous current transfers and EU own resources 4 of which: VAT-based third own resource 5 of which: gross national income-based fourth own resource 6 Capital transfers 7 Expenditure of the EU budget in the Member State 8 = 9 + 10 + 11 + 12 + 13 + 14 Subsidies 9 Current transfers to government 10 Current transfers to non-government units 11 Capital transfers to government 12 Capital transfers to non-government units 13 Own resources collection costs 14 Balance of Member State vis-à-vis the EU budget and the EDF (net receiver +, net 15 = 8 – 1 payer –) Table 1C Category Number and linear relation Final consumption expenditure 1 = 2 + 3 1 = [1A.23] + [1A.24] + [1A.29] + 4 + 5 + 6 – [1A.16] Individual consumption expenditure 2 Collective consumption expenditure 3 Consumption of fixed capital 4 Taxes on production paid minus subsidies received 5 Net operating surplus 615.6.2018 EN Official Journal of the European Union L 153/165 Category Number and linear relation Memorandum items: Final consumption expenditure at prices of the previous year 7 Gross fixed capital formation at prices of the previous year 8 Gross domestic product (GDP) at current prices 9 GDP at prices of the previous year 10 Current taxes on income, wealth, etc. paid by corporations to government and 11 rest of the world Current taxes on income, wealth, etc. paid by households and non-profit institu­ 12 tions serving households (NPISHs) to government and rest of the world Deficit-debt adjustment statistics Table 2A Category Number and linear relation Adjustment between financial and non-financial accounts 1 = [1A.1] – 2 Net financial transactions (consolidated) 2 = 3 – 17 Financial assets (consolidated) 3 = 4 + 5 + 6 + 7 + 8 + 9 + 13 + 14 + 15 Monetary gold and special drawing rights (SDRs) 4 Currency and deposits 5 Debt securities 6 Short-term loans 7 Long-term loans 8 Equity and investment fund shares or units 9 Privatisations (net) 10 Equity injections (net) 11 Other 12 Insurance, pension and standardised guarantee schemes 13 Financial derivatives and employee stock options 14 Other accounts receivable 15 of which: taxes and social contributions 16 Liabilities (consolidated) 17 = 18 + 19 + 20 + 21 + 22 + 23 + 24 + 25 + 26 + 27 Monetary gold and SDRs 18 Currency and deposits 19 Short-term debt securities 20 Long-term debt securities 21 Short-term loans 22 Long-term loans 23L 153/166 EN Official Journal of the European Union 15.6.2018 Category Number and linear relation Equity and investment fund shares or units 24 Insurance, pension and standardised guarantee schemes 25 Financial derivatives and employee stock options 26 Other accounts payable 27 General government borrowing requirement 28 = 19 + 20 + 21 + 22 + 23 28 = 30 + 31 + 32 28 = 1 – [1A.1] + 3 – 18 – 24 – 25 – 26 – 27 of which: long-term 29 Denominated in national currency 30 Denominated in currencies of euro area Member States 31 Denominated in other currencies 32 Other flows in government debt 33 = 34 + 37 Revaluation effects 34 = 35 + 36 Appreciation and depreciation of foreign- currency debt 35 Other revaluation effects (differences compared to face value) 36 = 38 – 28 – 35 – 37 Other changes in volume 37 Change in government debt 38 = 28 + 33 38 = 1 – [1A.1] + 3 – 18 – 24 – 25 – 26 – 27 + 33 38 = [3A.1] – [3A.1] [T] [T – 1] Memorandum items: Net incurrence of loans granted by central bank 39 Table 2B None. Government debt statistics Table 3A Category Number and linear relation Government debt (consolidated) 1 = 2 + 3+4 + 5+6 1 = 7 + 12 1 = 13 + 14 + 15 1 = 16 + 17 1 = 19 + 20 + 22 Currency and deposits 2 Short-term debt securities 3 Long-term debt securities 4 Short-term loans 5 Long-term loans 615.6.2018 EN Official Journal of the European Union L 153/167 Category Number and linear relation Held by residents of the Member State 7 = 8 + 9 + 10 + 11 Central bank 8 Other monetary financial institutions 9 Other financial institutions 10 Other residents 11 Held by non-residents of the Member State 12 Denominated in national currency 13 Denominated in currencies of euro area Member States 14 Denominated in other currencies 15 Short-term debt 16 Long-term debt 17 of which: variable interest rate 18 Residual maturity up to one year 19 Residual maturity over one and up to five years 20 of which: variable interest rate 21 Residual maturity over five years 22 of which: variable interest rate 23 Memorandum items: Average residual maturity of debt 24 Government debt – zero-coupon bonds 25 Government debt – loans granted by central bank 26 Table 3B Category Number and linear relation Government debt (non-consolidated between sub-sectors) 1 = 7 + 11 + 15 + 19 Consolidating elements 2 = 3 + 4 + 5 + 6 2 = 8 + 9 + 10 + 12 + 13 + 14 + 16 + 17 + 18 + 20 + 21 + 22 Currency and deposits 3 Short-term securities 4 Long-term securities 5 Loans 6 Issued by central government (consolidated) 7 held by state government 8 held by local government 9 held by social security funds 10 Issued by state government (consolidated) 11 held by central government 12 held by local government 13 held by social security funds 14L 153/168 EN Official Journal of the European Union 15.6.2018 Category Number and linear relation Issued by local government (consolidated) 15 held by central government 16 held by state government 17 held by social security funds 18 Issued by social security funds (consolidated) 19 held by central government 20 held by state government 21 held by local government 22 ANNEX II METHODOLOGICAL DEFINITIONS 1. Definition of sectors and subsectors Sectors and subsectors in the ESA 2010 Total economy S.1 Non-financial corporations S.11 Financial corporations S.12 Central bank S.121 Deposit-taking corporations, except the central bank S.122 Money market funds S.123 Non-MMF investment funds S.124 Other financial intermediaries, except insurance corporations and pension S.125 funds Financial auxiliaries S.126 Captive financial institutions and money lenders S.127 Insurance corporations S.128 Pension funds S.129 Monetary financial institutions S.121 + S.122 + S.123 General government S.13 Central government (excluding social security) S.1311 State government (excluding social security) S.1312 Local government (excluding social security) S.1313 Social security funds S.1314 Households S.1415.6.2018 EN Official Journal of the European Union L 153/169 Non-profit institutions serving households S.15 Rest of the world S.2 Member States and institutions and bodies of the European Union (EU) S.21 Member States of the EU S.211 Institutions and bodies of the EU S.212 The European Central Bank (ECB) S.2121 European institutions and bodies, except the ECB S.2122 Non-member countries and international organisations non-resident in the EU S.22 2. Definitions of the categories (1) (2) Table 1A 1. Deficit (–) or surplus (+) [1A.1] is equal to net lending (+)/net borrowing (–) (B.9) of S.13, is equal to total revenue [1A.6] minus total expenditure [1A.21], and is equal to deficit (–) or surplus (+) of central government [1A.2], plus deficit (–) or surplus (+) of state government [1A.3], plus deficit (–) or surplus (+) of local government [1A.4], plus deficit (–) or surplus (+) of social security funds [1A.5]. 2. Deficit (–) or surplus (+) of central government [1A.2] is equal to net lending (+)/net borrowing (–) (B.9) of S.1311. 3. Deficit (–) or surplus (+) of state government [1A.3] is equal to net lending (+)/net borrowing (–) (B.9) of S.1312. 4. Deficit (–) or surplus (+) of local government [1A.4] is equal to net lending (+)/net borrowing (–) (B.9) of S.1313. 5. Deficit (–) or surplus (+) of social security funds [1A.5] is equal to net lending (+)/net borrowing (–) (B.9) of S.1314. 6. Total revenue [1A.6] is equal to total current revenue [1A.7], plus total capital revenue [1A.19]. 7. Total current revenue [1A.7] is equal to current taxes on income, wealth, etc. [1A.8], plus taxes on production and imports [1A.9], plus net social contributions [1A.13], plus sales [1A.16], plus other current revenue [1A.17]. 8. Current taxes on income, wealth, etc. [1A.8] is equal to current taxes on income, wealth, etc. (D.5) recorded among resources of S.13. 9. Taxes on production and imports [1A.9] is equal to taxes on production and imports (D.2) recorded among resources of S.13. 10. Taxes on products [1A.10] is equal to taxes on products (D.21) recorded among resources of S.13. 11. Taxes on production and imports of which value added tax (VAT) [1A.11] is equal to value added type taxes (D.211) recorded among resources of S.13. 12. Other taxes on production [1A.12] is equal to other taxes on production (D.29) recorded among resources of S.13. 13. Net social contributions [1A.13] is equal to net social contributions (D.61) recorded among resources of S.13. 14. Net social contributions of which employers' actual social contributions [1A.14] is equal to employers' actual social contributions (D.611) recorded among resources of S.13. 15. Net social contributions of which households' actual social contributions [1A.15] is equal to households' actual social contributions (D.613) recorded among resources of S.13. (1) [x.y] refers to the category number y of Table x. (2) The term “categories” refers to the general government sector unless stated otherwise.L 153/170 EN Official Journal of the European Union 15.6.2018 16. Sales [1A.16] is equal to market output (P.11), plus output for own final use (P.12), plus payments for non-market output (P.131) recorded among resources of S.13. 17. Other current revenue [1A.17] is equal to property income (D.4), plus other current transfers (D.7) recorded among resources of S.13, except S.13 resources of interest (D.41) that are also uses of S.13, plus receipts of other subsidies on production (D.39) that are uses of S.13. 18. Other current revenue of which interest receivable [1A.18] is equal to interest (D.41) recorded among resources of S.13 and uses of all sectors except S.13. 19. Total capital revenue [1A.19] is equal to capital transfers receivable (D.9) recorded among changes in the liabilities and net worth of S.13, and recorded as a capital transfer payable by all sectors except S.13. 20. Total capital revenue of which capital taxes [1A.20] is equal to capital taxes (D.91) recorded among changes in liabilities and net worth of S.13. 21. Total expenditure [1A.21] is equal to total current expenditure [1A.22], plus total capital expenditure [1A.31]. 22. Total current expenditure [1A.22] is equal to intermediate consumption [1A.23], plus compensation of employees [1A.24], plus interest payable [1A.26], plus subsidies payable [1A.27], plus social benefits other than social transfers in kind [1A.28], plus social transfers in kind – purchased market production [1A.29], plus other current expenditure [1A.30]. 23. Intermediate consumption [1A.23] is equal to intermediate consumption (P.2) recorded among uses of S.13. 24. Compensation of employees [1A.24] is equal to compensation of employees (D.1) recorded among uses of S.13. 25. Compensation of employees of which wages and salaries [1A.25] is equal to wages and salaries (D.11) recorded among uses of S.13. 26. Interest payable [1A.26] is equal to interest (D.41) recorded among uses of S.13 and resources of all sectors except S.13. 27. Subsidies payable [1A.27] is equal to minus subsidies (-D.3) recorded among resources of S.13. 28. Social benefits other than social transfers in kind [1A.28] is equal to social benefits other than social transfers in kind (D.62) recorded among uses of S.13. 29. Social transfers in kind – purchased market production [1A.29] is equal to social transfers in kind related to market production purchased by general government (D.632) recorded among uses of S.13. 30. Other current expenditure [1A.30] is equal to current taxes on income, wealth, etc. (D.5), plus other taxes on production (D.29), plus property income (D.4) excluding interest (D.41), plus other current transfers (D.7), plus adjustment for the change in pension entitlements (D.8) recorded among uses of S.13. 31. Total capital expenditure [1A.31] is equal to gross fixed capital formation [1A.32], plus other net acquisitions of non-financial assets and changes in inventories [1A.33], plus capital transfers payable [1A.34]. 32. Gross fixed capital formation [1A.32] is equal to gross fixed capital formation (P.51g) recorded among changes in assets of S.13. 33. Other net acquisitions of non-financial assets and changes in inventories [1A.33] is equal to changes in inventories (P.52), plus acquisition less disposal of valuables (P.53), plus acquisition less disposals of non-financial non- produced assets (NP) recorded among changes in assets of S.13. 34. Capital transfers payable [1A.34] is equal to capital transfers payable (D.9) recorded among changes in liabilities and net worth of S.13, and recorded as a capital transfer receivable by all sectors except S.13. 35. Capital transfers representing taxes and social contributions assessed but unlikely to be collected [1A.35] is equal to capital transfers representing taxes and social contributions assessed but unlikely to be collected (D.995) recorded among changes in liabilities and net worth of S.13.15.6.2018 EN Official Journal of the European Union L 153/171 Table 1B 1. Revenue of the European Union (EU) budget and of the European Development Fund (EDF) from the Member State [1B.1] is equal to taxes on production and imports (D.2) receivable by the EU budget [1B.2], plus current internat­ ional cooperation (D.74) payable by government to the EU budget and the EDF [1B.3], plus miscellaneous current transfers (D.75) and EU own resources (D.76) payable by government to the EU budget [1B.4], plus capital transfers (D.9) payable by government to the EU budget [1B.7]. 2. Taxes on production and imports [1B.2] is equal to taxes on production and imports (D.2) recorded among resources of the EU budget. 3. Current international cooperation [1B.3] is equal to current international cooperation (D.74) recorded among resources of the EU budget and of the EDF and uses of S.13. 4. Miscellaneous current transfers and EU own resources [1B.4] is equal to miscellaneous current transfers (D.75) plus value added tax (VAT) and gross national income (GNI)-based EU own resources (D.76) recorded among resources of the EU budget and uses of S.13. 5. Miscellaneous current transfers and EU own resources of which VAT-based third own resource [1B.5] is equal to the VAT-based third own resource (D.761) recorded among resources of the EU budget and uses of S.13. 6. Miscellaneous current transfers and EU own resources of which GNI-based fourth own resource [1B.6] is equal to the GNI-based fourth own resource (D.762) recorded among resources of the EU budget and uses of S.13. 7. Capital transfers [1B.7] is equal to capital transfers payable (D.9) recorded among changes in liabilities and net worth of S.13 and recorded as a capital transfer receivable by the EU budget. 8. Expenditure of the EU budget in the Member State [1B.8] is equal to subsidies (D.3) payable by the EU budget [1B.9], plus other current transfers (D.7) payable by the EU budget to government [1B.10], plus other current transfers (D.7) payable by the EU budget to non-government units [1B.11], plus capital transfers (D.9) payable by the EU budget to government [1B.12], plus capital transfers (D.9) payable by the EU budget to non-government units [1B.13], plus own resources collection costs [1B.14]. 9. Subsidies [1B.9] is equal to subsidies (D.3) recorded among uses of the EU budget. 10. Current transfers to government [1B.10] is equal to current international cooperation (D.74), plus miscellaneous current transfers (D.75) recorded among resources of S.13 and uses of the EU budget. 11. Current transfers to non-government units [1B.11] is equal to miscellaneous current transfers (D.75) recorded among uses of the EU budget and resources of all sectors except S.13. 12. Capital transfers to government [1B.12] is equal to capital transfers receivable (D.9) recorded among changes in liabilities and net worth of S.13 and recorded as a capital transfer payable by the EU budget. 13. Capital transfers to non-government units [1B.13] is equal to capital transfers payable (D.9) recorded among changes in liabilities and net worth of all sectors except S.13 and recorded as a capital transfer payable by the EU budget. 14. Own resources collection costs [1B.14] is that part of non-market output (P.13) recorded among resources of S.13 that is the own resources collection costs paid by the EU budget. 15. Balance of Member State vis-à-vis the EU budget and the EDF (net receiver +, net payer –) [1B.15] is equal to expenditure of the EU budget in the Member State [1B.8], minus revenue of the EU budget and of the EDF from the Member State [1B.1]. Table 1C 1. Final consumption expenditure [1C.1] is equal to final consumption expenditure (P.3) recorded among uses of S.13. 2. Individual consumption expenditure [1C.2] is equal to individual consumption expenditure (P.31) recorded among uses of S.13. 3. Collective consumption expenditure [1C.3] is equal to collective consumption expenditure (P.32) recorded among uses of S.13.L 153/172 EN Official Journal of the European Union 15.6.2018 4. Consumption of fixed capital [1C.4] is equal to consumption of fixed capital (P.51c) recorded among changes in liabilities and net worth of S.13. 5. Taxes on production paid minus subsidies received [1C.5] is equal to payments of other taxes on production (D.29) recorded among uses of S.13, minus the receipt of other subsidies on production (D.39) recorded among uses of S.13. 6. Net operating surplus [1C.6] is equal to operating surplus, net (B.2n) of S.13. 7. Final consumption expenditure at prices of the previous year [1C.7] is equal to the chain-linked volume of final consumption expenditure (P.3), recorded among uses of S.13, at prices of the previous year. 8. Gross fixed capital formation at prices of the previous year [1C.8] is equal to the chain-linked volume of gross fixed capital formation (P.51g), recorded among changes in assets of S.13, at prices of the previous year. 9. Gross domestic product (GDP) at current prices [1C.9] is equal to GDP (B.1*g) at market prices. 10. GDP at prices of the previous year [1C.10] is equal to the chain-linked volume of GDP (B.1*g) at prices of the previous year. 11. Current taxes on income, wealth, etc. paid by corporations to government and rest of the world [1C.11] is equal to current taxes on income, wealth, etc. (D.5) recorded among resources of S.13 and S.2 and uses of S.11 and S.12. 12. Current taxes on income, wealth, etc. paid by households and non-profit institutions serving households (NPISHs) to government and rest of the world [1C.12] is equal to current taxes on income, wealth, etc. (D.5) recorded among resources of S.13 and S.2 and uses of S.14 and S.15. Table 2A 1. Adjustment between financial and non-financial accounts [2A.1] is equal to deficit (–) or surplus (+) [1A.1], minus net transactions in financial assets and liabilities [2A.2]. 2. Net transactions in financial assets and liabilities (consolidated) [2A.2] is equal to transactions in the net acquisition of financial assets [2A.3], minus transactions in the net incurrence of liabilities [2A.17]. 3. Transactions in financial assets (consolidated) [2A.3] is equal to consolidated transactions in monetary gold and special drawing rights (SDRs) (F.1) [2A.4], plus currency and deposits (F.2) [2A.5], plus transactions in debt securities (F.3) [2A.6], plus transactions in short-term loans (F.41) [2A.7], plus transactions in long-term loans (F.42) [2A.8], plus transactions in equity and investment fund shares or units (F.5) [2A.9], plus transactions in insurance, pension and standardised guarantee schemes (F.6) [2A.13], plus transactions in financial derivatives and employee stock options (F.7) [2A.14], plus transactions in other accounts receivable [2A.15], recorded among changes in assets of S.13 and changes in liabilities and net worth of all sectors except S.13. 4. Transactions in monetary gold and SDRs [2A.4] is equal to the net acquisition of monetary gold and SDRs (F.1) recorded among changes in assets of S.13 and changes in liabilities and net worth of all sectors except S.13. 5. Transactions in currency and deposits [2A.5] is equal to the net acquisition of currency and deposits (F.2) recorded among changes in assets of S.13 and changes in liabilities and net worth of all sectors except S.13. 6. Transactions in debt securities [2A.6] is equal to the net acquisition of debt securities (F.3), recorded among changes in assets of S.13 and changes in liabilities and net worth of all sectors except S.13. 7. Transactions in short-term loans [2A.7] is equal to short-term loans (F.41) granted by government, net of repayments to government, recorded among changes in assets of S.13 and changes in liabilities and net worth of all sectors except S.13. 8. Transactions in long-term loans [2A.8] is equal to long-term loans (F.42) granted by government, net of repayments to government, recorded among changes in assets of S.13 and changes in liabilities and net worth of all sectors except S.13.15.6.2018 EN Official Journal of the European Union L 153/173 9. Transactions in equity and investment fund shares or units [2A.9] is equal to the net acquisition of equity and investment fund shares or units (F.5) recorded among changes in assets of S.13 and changes in liabilities and net worth of all sectors except S.13. 10. Privatisations (net) [2A.10] is equal to transactions in equity and investment fund shares or units (F.5) recorded among changes in assets of S.13 and changes in liabilities and net worth of S.11 or S.12 which are carried out in the process of giving up or gaining control (ESA 2010 paragraphs 2.36 to 2.39) of the debtor unit by S.13; such transactions might be carried out by S.13 directly with the debtor unit, or with another creditor unit. 11. Equity injections (net) [2A.11] is equal to transactions in equity and investment fund shares or units (F.5) recorded among changes in assets of S.13 and changes in liabilities and net worth of S.11 or S.12 which are not carried out in the process of giving up or gaining control of the debtor unit by S.13 and are carried out by S.13 directly with the debtor unit. 12. Other [2A.12] is equal to transactions in equity and investment fund shares or units (F.5) recorded among changes in assets of S.13 and changes in liabilities and net worth of all sectors except S.13 which are not carried out in the process of giving up or gaining control of the debtor unit by S.13 and are not carried out by S.13 directly with the debtor unit, but with another creditor unit. 13. Transactions in insurance, pension and standardised guarantee schemes [2A.13] is equal to the net acquisition of insurance, pension and standardised guarantee schemes (F.6), recorded among changes in assets of S.13 and changes in liabilities and net worth of all sectors except S.13. 14. Transactions in financial derivatives and employee stock options [2A.14] is equal to the net acquisition of financial derivatives and employee stock options (F.7), recorded among changes in assets of S.13 and changes in liabilities and net worth of all sectors except S.13. 15. Transactions in other accounts receivable [2A.15] is equal to the net acquisition of other accounts receivable (F.8) recorded among changes in assets of S.13 and changes in liabilities and net worth of all sectors except S.13. 16. Transactions in other accounts receivable of which taxes and social contributions [2A.16] is equal to that part of other accounts receivable (F.8 assets) relating to the taxes and social contributions recorded in D.2, D.5, D.61 and D.91, less the amounts of taxes and social contributions actually collected, recorded among changes in assets of S.13 and changes in liabilities and net worth of all sectors except S.13. 17. Transactions in liabilities (consolidated) [2A.17] is equal to consolidated transactions in monetary gold and SDRs (F.1) [2A.18], plus transactions in currency and deposits (F.2) [2A.19], plus transactions in short-term debt securities (F.31) [2A.20], plus transactions in long-term debt securities (F.32) [2A.21], plus transactions in short- term loans (F.41) [2A.22], plus transactions in long-term loans (F.42) [2A.23], plus transactions in equity and investment fund shares or units (F.5) [2A.24], plus transactions in insurance, pension and standardised guarantee schemes (F.6) [2A.25], plus transactions in financial derivatives and employee stock options (F.7) [2A.26], plus transactions in other accounts payable [2A.27], recorded among changes in liabilities and net worth of S.13 and changes in assets of all sectors except S.13. 18. Transactions in monetary gold and SDRs [2A.18] is equal to the net incurrence of monetary gold and SDRs (F.1) recorded among changes in liabilities and net worth of S.13 and changes in assets of all sectors except S.13. 19. Transactions in currency and deposits [2A.19] is equal to the net incurrence of currency and deposits (F.2) recorded among changes in liabilities and net worth of S.13 and changes in assets of all sectors except S.13. 20. Transactions in short-term debt securities [2A.20] is equal to the net incurrence of short-term debt securities (F.31), whose original maturity is one year or less, recorded among changes in liabilities and net worth of S.13 and changes in assets of all sectors except S.13.L 153/174 EN Official Journal of the European Union 15.6.2018 21. Transactions in long-term debt securities [2A.21] is equal to the net incurrence of long-term debt securities (F.32), whose original maturity is over one year, recorded among changes in liabilities and net worth of S.13 and changes in assets of all sectors except S.13. 22. Transactions in short-term loans [2A.22] is equal to short-term loans (F.41) borrowed by government, net of repayments of existing short-term loans, recorded among changes in liabilities and net worth of S.13 and changes in assets of all sectors except S.13. 23. Transactions in long-term loans [2A.23] is equal to long-term loans (F.42) borrowed by government, net of repayments of existing long-term loans, recorded among changes in liabilities and net worth of S.13 and changes in assets of all sectors except S.13. 24. Transactions in equity and investment fund shares or units [2A.24] is equal to the net incurrence of equity and investment fund shares or units (F.5), recorded among changes in liabilities and net worth of S.13 and changes in assets of all sectors except S.13. 25. Transactions in insurance, pension and standardised guarantee schemes [2A.25] is equal to the net incurrence of insurance, pension and standardised guarantee schemes (F.6), recorded among changes in liabilities and net worth of S.13 and changes in assets of all sectors except S.13. 26. Transactions in financial derivatives and employee stock options [2A.26] is equal to the net incurrence of financial derivatives and employee stock options (F.7) recorded among changes in liabilities and net worth of S.13 and changes in assets of all sectors except S.13. 27. Transactions in other accounts payable [2A.27] is equal to the net incurrence of other accounts payable (F.8) recorded among changes in liabilities and net worth of S.13 and changes in assets of all sectors except S.13. 28. General government borrowing requirement [2A.28] is equal to the net incurrence of liabilities in currency and deposits (F.2) [2A.19], plus debt securities (F.3) [2A.20 and 2A.21], plus loans (F.4) [2A.22 and 2A.23] which are not assets of S.13. It is also equal to consolidated transactions in government debt instruments. 29. Transactions in long-term debt instruments [2A.29] is equal to the net incurrence of liabilities in the same debt instruments as general government borrowing requirement [2A.28] whose original maturity is over one year. 30. Transactions in debt instruments denominated in national currency [2A.30] is equal to the net incurrence of liabilities in the same debt instruments as general government borrowing requirement [2A.28] denominated in the legal tender of the Member State. 31. Transactions in debt instruments denominated in currencies of euro area Member States [2A.31] is equal to the net incurrence of liabilities in the same debt instruments as general government borrowing requirement [2A.28] denominated in ecus, plus debt instruments denominated in euro prior to the Member State's adoption of the euro, plus debt instruments denominated in the legal tender of a euro area Member State prior to it becoming a euro area Member State. 32. Transactions in debt instruments denominated in other currencies [2A.32] is equal to the net incurrence of liabilities in the same debt instruments as general government borrowing requirement [2A.28] not included in [2A.30] or [2A.31]. 33. Other flows in government debt [2A.33] is equal to revaluation effects [2A.34], plus other changes in volume [2A.37]. 34. Revaluation effects [2A.34] is equal to appreciation and depreciation of foreign-currency debt [2A.35], plus other revaluation effects (differences compared to face value) [2A.36]. 35. Appreciation and depreciation of foreign- currency debt [2A.35] is equal to nominal holding gains and losses (K.7) of government debt [3A.1] that changes value when converted into national currency due to changes in currency exchange rates.15.6.2018 EN Official Journal of the European Union L 153/175 36. Other revaluation effects (differences compared to face value) [2A.36] is equal to change in government debt [2A.38], minus transactions in debt instruments (consolidated) [2A.28], minus appreciation and depreciation of foreign- currency debt [2A.35], minus other changes in volume [2A.37]. 37. Other changes in volume [2A.37] is equal to other volume changes (K.1, K.2, K.3, K.4, K.5 and K.6) in the same debt instruments as general government borrowing requirement. 38. Change in government debt [2A.38] is equal to government debt [3A.1] in year t, minus government debt [3A.1] in year t-1. 39. Net incurrence of loans granted by central bank [2A.39] is equal to transactions in loans (F.4) recorded among changes in liabilities and net worth of S.13 and changes in assets of S.121. Table 2B None. Table 3A 1. Government debt (consolidated) [3A.1] is equal to debt as defined in Regulation (EC) No 479/2009. It is also equal to the consolidated liabilities of S.13 in currency and deposits (AF.2) [3A.2], plus short-term debt securities (AF.31) [3A.3], plus long-term debt securities (AF.32) [3A.4], plus short-term loans (AF.41) [3A.5], plus long-term loans (AF.42) [3A.6]. 2. Debt – currency and deposits [3A.2] is equal to that part of government debt [3A.1] in the instrument currency and deposits (AF.2). 3. Debt – short-term debt securities [3A.3] is equal to that part of government debt [3A.1] in the instrument debt securities whose original maturity is one year or less (AF.31). 4. Debt – long-term debt securities [3A.4] is equal to that part of government debt [3A.1] in the instrument debt securities whose original maturity is over one year (AF.32). 5. Debt – short-term loans [3A.5] is equal to that part of government debt [3A.1] in the instrument loans whose original maturity is one year or less (AF.41). 6. Debt – long-term loans [3A.6] is equal to that part of government debt [3A.1] in the instrument loans whose original maturity is over one year (AF.42). 7. Debt held by residents of the Member State [3A.7] is equal to debt held by central bank [3A.8], plus debt held by other monetary financial institutions [3A.9], plus debt held by other financial institutions [3A.10], plus debt held by other residents of the Member State [3A.11]. 8. Debt held by central bank [3A.8] is equal to that part of government debt [3A.1] which is an asset of S.121. 9. Debt held by other monetary financial institutions [3A.9] is equal to that part of government debt [3A.1] which is an asset of S.122 or S.123. 10. Debt held by other financial institutions [3A.10] is equal to that part of government debt [3A.1] which is an asset of S.124, S.125, S.126, S.127, S.128 or S.129. 11. Debt held by other residents [3A.11] is equal to that part of government debt [3A.1] which is an asset of S.11, S.14 or S.15. 12. Debt held by non-residents of the Member State [3A.12] is equal to that part of government debt [3A.1] which is an asset of S.2.L 153/176 EN Official Journal of the European Union 15.6.2018 13. Debt denominated in national currency [3A.13] is equal to that part of government debt [3A.1] denominated in the legal tender of the Member State. 14. Debt denominated in currencies of euro area Member States [3A.14] is equal – prior to the Member State becoming a euro area Member State – to that part of government debt [3A.1] denominated in the legal tender of one of the euro area Member States (except national currency [3A.13]), plus debt denominated in ecus or euro. 15. Debt denominated in other currencies [3A.15] is equal to that part of government debt [3A.1] not included in [3A.13] or [3A.14]. 16. Short-term debt [3A.16] is equal to that part of government debt [3A.1] whose original maturity is one year or less. 17. Long-term debt [3A.17] is equal to that part of government debt [3A.1] whose original maturity is over one year. 18. Long-term debt of which variable interest rate [3A.18] is equal to that part of long-term debt [3A.17] whose interest rate is variable. 19. Debt with residual maturity up to one year [3A.19] is equal to that part of government debt [3A.1] with residual maturity of one year or less. 20. Debt with residual maturity over one and up to five years [3A.20] is equal to that part of government debt [3A.1] with residual maturity over one and up to five years. 21. Debt with residual maturity over one and up to five years of which variable interest rate [3A.21] is equal to that part of government debt [3A.1] with residual maturity over one and up to five years [3A.20] whose interest rate is variable. 22. Debt with residual maturity over five years [3A.22] is equal to that part of government debt [3A.1] with residual maturity over five years. 23. Debt with residual maturity over five years of which variable interest rate [3A.23] is equal to that part of government debt [3A.1] with residual maturity over five years [3A.22] whose interest rate is variable. 24. Average residual maturity of debt [3A.24] is equal to the average residual maturity weighted by the amounts outstanding, expressed in years. 25. Government debt – zero-coupon bonds [3A.25] is equal to that part of government debt [3A.1] in the form of zero-coupon bonds, i.e. bonds without coupon payments, whose interest is based on the difference between the prices at redemption and at issue. 26. Government debt – loans granted by central bank [3A.26] is equal to that part of government debt [3A.1] in the instrument loans (AF.4) which is an asset of S.121. Table 3B 1. Government debt (non-consolidated between sub-sectors) [3B.1] is equal to the non-consolidated liabilities of S.13, excluding (a) the liabilities of S.1311 that are simultaneously assets of S.1311; (b) the liabilities of S.1312 that are simultaneously assets of S.1312; (c) the liabilities of S.1313 that are simultaneously assets of S.1313; and (d) the liabilities of S.1314 that are simultaneously assets of S.1314, in the same instruments as government debt [3A.1]. 2. Consolidating elements [3B.2] is equal to the liabilities of S.13 that are simultaneously assets of S.13 excluding (a) the liabilities of S.1311 that are simultaneously assets of S.1311, (b) the liabilities of S.1312 that are simultaneously assets of S.1312, (c) the liabilities of S.1313 that are simultaneously assets of S.1313 and (d) the liabilities of S.1314 that are simultaneously assets of S.1314, in currency and deposits [3B.3], plus short-term debt securities [3B.4], plus long-term debt securities [3B.5], plus loans [3B.6].15.6.2018 EN Official Journal of the European Union L 153/177 3. Consolidating elements in currency and deposits [3B.3] is equal to that part of consolidating elements [3B.2] in the instrument currency and deposits (F.2). 4. Consolidating elements in short-term debt securities [3B.4] is equal to that part of consolidating elements [3B.2] in the instrument debt securities whose original maturity is one year or less (F.31). 5. Consolidating elements in long-term debt securities [3B.5] is equal to that part of consolidating elements [3B.2] in the instrument debt securities whose original maturity is over one year (F.32). 6. Consolidating elements in loans [3B.6] is equal to that part of consolidating elements [3B.2] in the instrument loans (F.4). 7. Debt issued by central government (consolidated) [3B.7] is equal to the liabilities of S.1311, which are not assets of S.1311, in the same instruments as government debt [3A.1]. 8. Debt issued by central government and held by state government [3B.8] is equal to the liabilities of S.1311 which are assets of S.1312, in the same instruments as government debt [3A.1]. 9. Debt issued by central government and held by local government [3B.9] is equal to the liabilities of S.1311 which are assets of S.1313, in the same instruments as government debt [3A.1]. 10. Debt issued by central government and held by social security funds [3B.10] is equal to the liabilities of S.1311 which are assets of S.1314, in the same instruments as government debt [3A.1]. 11. Debt issued by state government (consolidated) [3B.11] is equal to the liabilities of S.1312, which are not assets of S.1312, in the same instruments as government debt [3A.1]. 12. Debt issued by state government and held by central government [3B.12] is equal to the liabilities of S.1312 which are assets of S.1311, in the same instruments as government debt [3A.1]. 13. Debt issued by state government and held by local government [3B.13] is equal to the liabilities of S.1312 which are assets of S.1313, in the same instruments as government debt [3A.1]. 14. Debt issued by state government and held by social security funds [3B.14] is equal to the liabilities of S.1312 which are assets of S.1314, in the same instruments as government debt [3A.1]. 15. Debt issued by local government (consolidated) [3B.15] is equal to the liabilities of S.1313, which are not assets of S.1313, in the same instruments as government debt [3A.1]. 16. Debt issued by local government and held by central government [3B.16] is equal to the liabilities of S.1313 which are assets of S.1311, in the same instruments as government debt [3A.1]. 17. Debt issued by local government and held by state government [3B.17] is equal to the liabilities of S.1313 which are assets of S.1312, in the same instruments as government debt [3A.1]. 18. Debt issued by local government and held by social security funds [3B.18] is equal to the liabilities of S.1313 which are assets of S.1314, in the same instruments as government debt [3A.1]. 19. Debt issued by social security funds (consolidated) [3B.19] is equal to the liabilities of S.1314, which are not assets of S.1314, in the same instruments as government debt [3A.1]. 20. Debt issued by social security funds and held by central government [3B.20] is equal to the liabilities of S.1314 which are assets of S.1311, in the same instruments as government debt [3A.1].L 153/178 EN Official Journal of the European Union 15.6.2018 21. Debt issued by social security funds and held by state government [3B.21] is equal to the liabilities of S.1314 which are assets of S.1312, in the same instruments as government debt [3A.1]. 22. Debt issued by social security funds and held by local government [3B.22] is equal to the liabilities of S.1314 which are assets of S.1313, in the same instruments as government debt [3A.1].’