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Issue detail

43.d. Fees payable on securities lending and gold loans
Issue description and recommendation

Neither the 1993 SNA nor the Balance of Payments Manual discusses the issue of fees payable on securities lending and gold loans. The fee for securities lending is for putting a financial instrument at the disposal of another unit, but it does not fit with the definition of interest when the legal ownership is transferred but the economic risks and rewards of the ownership remain with the original owner. The fee payable on gold loans appears to be a payment for services as gold in this instance is non-monetary gold.

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Chapters affected by this issue, and their status (For more information click corresponding chapter from the list)
  No draft yet, AEG/world review draft, Final draft
6. The production account
7. The distribution of income accounts
11. The financial account
12. The other changes in assets accounts
13. The balance sheet
21. Measuring corporate activity

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