Government Finance Statistics (GFS)

Financial asset of government, category

Financial asset refers to all financial claims, shares or other equity in corporations plus gold bullion held by monetary authorities as a reserve asset. Gold bullion held by monetary authorities as a reserve asset is treated as a financial asset even though the holders have no claim over other designated units. Shares are treated as financial assets even though the financial claim their holders have on the corporation is not a fixed or predetermined monetary amount.

Government refers to unique kinds of legal entities established by political processes that have legislative, judicial or executive authority over other institutional units within a given area. Viewed as institutional units, the principal functions of government are to assume responsibility for the provision of goods and services to the community or to individual households and to finance their provision out of taxation or other incomes; to redistribute income and wealth by means of transfers; and to engage in non-market production.

The data for this variable are reported using the following classifications and/or lists:

• Financial Assets for Government Finance Statistics