Label: |
Local Liabilities of Foreign Affiliates in Local Currency |
Concept Guidance: |
This is the value of all cross border financial liabilities of the reporting party as at the relevant date. A financial liability consists of money or a claim that another person or business (the counterparty) has against the reporting party that can be converted into money. It does not include operational liabilities of the reporting party nor does it include claims arising as a result of operational requirements of the business such as trade payables, unearned income or tax liabilities. Local liabilities are those where a reporting entities' branch or subsidiary, operating in a foreign country, is indebted to a resident of the same foreign country, and the obligation is denominated in the official currency of that country.
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Form-Specifc Guidance: |
Include sight and time deposit liabilities of foreign offices in the local currency to local residents.
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