Operations and/or net positions of residents in securities issued by non-residents within the euro area («assets») and operations and/or net positions of non-residents in securities issued by residents («liabilities»). They comprise shares and investments and securities other than shares (bonds and obligations, and monetary market instruments), excluding the amounts registered in direct investments or official reserve assets.
The general government sector's net borrowing or net lending excluding interest payments on consolidated government liabilities.
Purchasing power parity (PPP):
The rate used for the conversion of one currency into another that equalises the purchasing power of the two currencies by eliminating the differences in the price levels prevailing in the countries concerned. In their simplest form, PPPs show the ratio of the prices in national currency of the same good or service in different countries.