National Balance Sheet Accounts
Household debt payment of economy, value
Household debt payment refers to the total debt payments of institutional units in the household sector in a given period of time. Debt typically arises out of contractual relationships under which an institutional unit (the debtorin this case the persons and unincorporated businesses sector), has an unconditional liability to another institutional unit (the creditor) to repay principal with or without interest, or to pay interest without principal. These debts include mortgage and non-mortgage loans, and trade credits.
Economy refers to the entire set of resident institutional units. It is divided into sectors that consists of groups of resident institutional units. An institutional unit is resident in a country when it has a centre of economic interest in the economic territory of that country. It is said to have a centre of economic interest when there exists some location - dwelling, place of production or other premises - within the economic territory on, or from, which it engages, and intends to continue to engage, in economic activities and transactions on a significant scale either indefinitely or over a finite period of time.
The data for this variable are reported using the following measurements:
- Canadian dollar at current prices