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1993 SNA Update Information - Country comments for issue:
Interest at concessional rates

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Issue description in [English] | [French] | [Russian] | [Spanish]
Loans with concessional interest rates could be seen as providing a transfer from lender to borrower. Should such transfers be recognized in the SNA? Although there is no clear definition of what is a concessional loan, the guidance in the External Debt Guide suggests features such as an intention to convey a benefit and occurrence in a noncommercial setting (usually government-togovernment). If concessional loans are not recognized in the core accounts, should the concessional amounts be considered as supplementary information where they are significant?
Country comments
Number of country comments for selected issue:22
  Date postedSourceComment
 11/10/2006ArmeniaThe National Statistical Service of the Republic of Armenia agrees with the most recent AEG recommendations.
 10/10/2006SwedenAgreement with proposal
 29/09/2006Bank of KoreaWe are generally in agreement with the recommendation of the AEG.
 15/09/2006United KingdomWe agree with all the recommendations made by the AEG.
 15/09/2006LatviaAfter deep discussions and expert consultations we basically support the 1993 SNA Update IssuAfter deep discussions and expert consultations we basically support the 1993 SNA Update Issues.es.
 21/08/2006Central Bank of El SalvadorDebt concessionality:
m4cbElSalvador43b; m4cbElSalvador43b-english;
 18/08/2006NetherlandsWe generally support the recommendations made at the Frankfurt Meeting of the AEG.
 18/08/2006USADebt concessionality:
We agree with the AEG’s decision to place this topic on the long-term research agenda.
 02/08/2006European Central BankThe ECB generally supports the recommendations made by the AEG.
 01/08/2006Hong Kong, ChinaDebt concessionality:
We support that concessional debt encompasses as a transfer element. Further research regarding the definition and treatment of concessional debt, and appropriate market rates to be used as the discount factor may be required. If the transfer is to be reported, it should be shown separately from other types of transfer, and as a supplementary item only.
 01/08/2006National Bank/ National Bureau for Statistics MoldovaNational Bank and National Bureau for Statistics of Moldova agree with the recommendations made at the latest meeting of the AEG.
 01/08/2006Reserve Bank of South AfricaWe carefully worked through all the issues and would like to give our general support to the recommendations made by the AEG.
 31/07/2006Macao SARStatistics and Census Service of Macao SAR agrees to the AEG recommendations and has no further comments.
 31/07/2006Bosnia and HerzegovinaWe agree with AEG recommendations on the update of the 1993 SNA and do not have any further comments.
 28/07/2006National Bank of SlovakiaConcerning the results of the most recent AEG meeting, we fully support the conclusions and recommendations made by the AEG.
 28/07/2006AustraliaDebt concessionality:
The treatment of debt concessionality is an example of where an historic cost treatment of interest causes problems. If a creditor approach is used, the concessional rate is simply the market rate and no additional transfers need to be 'manufactured'.
 28/07/2006LithuaniaIn general we support the recommendations.
 28/07/2006Bank of PortugalBanco de Portugal would like to express general support for the recommendations made in the Frankfurt meeting of the Advisory Expert Group on National Accounts (AEG).
 28/07/2006Bank of PolandPlease find our general support for the AEG recommendations made during its recent meeting in Frankfurt.
 27/07/2006Bank of Sierra LeoneWe agree with the recommendations made by the AEG.
 25/07/2006Bank of ItalyWe broadly support the conclusions.
 24/07/2006National Bank of the Republic of AzerbaijanWe have analyzed the “Comment on the recommendations of the most recent Advisory Expert Group on National Accounts (AEG) meeting (January 30 – February 8, 2006) in Frankfurt” within the scope of our responsibilities and I am pleased to inform you that we are in agreement with the AEG recommendations.
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