July 2006

Indicator 8.6 - Financing of non-financial corporations resident in Spain

A new column has been introduced. It gives a breakdown of securities other than shares, which includes the issues by resident financial subsidiaries of non-financial corporations. As explained in footnote (b) of the indicator, the funds raised in these issues are routed to the parent company as loans. The issuing institutions of these financial instruments are classified as Other financial intermediaries in the Boletín Estadístico and in the Financial Accounts of the Spanish Economy.