10. Transactions in financial assets and liabilities

Due to the integrated nature of the GFS framework, GFS records detail on all flows that change the stock positions of assets and liabilities in the balance sheet between the beginning of a reporting period and the end of a reporting period. There are two types of flows in GFS. These are called transactions and other economic flows, both of which affect stock positions of assets and liabilities.

This chapter describes transactions that affect the stock positions of financial assets and liabilities in GFS; the valuation of transactions in financial assets and liabilities; the time of recording of transactions in financial assets and liabilities; the use of netting and the consolidation of flows in GFS; and the classification of transactions in financial assets and liabilities. Financial assets and liabilities are further discussed in Chapter 8 of this manual. Other economic flows are further discussed in Chapter 11 of this manual.