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1993 SNA Update Information - Expert comments for issue:
Treatment of index linked debt instruments

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Treatment of index-linked debt instruments
The guidance in the1993 SNA about how transactions relating to index-linked debt instrument is not precise. When the principal is indexed, the redemption value is not known until maturity; as a result, interest flows are not known before maturity. What should be recorded for interest and principal repayment in the period before maturity? Further, for some instruments, the indexation may lead to valuation gains. How should these be recorded?
Debt indexed to a foreign currency
For debt instruments with both principal and coupons indexed to a foreign currency, the currency of account is important for distinguishing transactions from holding gains and losses. These may be different from an assessment made on the basis of the currency of settlement. Does this mean that debt indexed to foreign currency should be treated in the same way as foreign currency debt, that is as if denominated in foreign currency?
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