This is the value of outward risk transfers as at the relevant date.     Outwards risk transfers are calculated as the value of claims of the reporting party to a particular country as at the relevant date, where the immediate risk counterparty resides in the same country,  but the ultimate counterparty resides in another; plus the value of claims where the risk is transferred from one sector to another, but where the claim is still to the same country (for example, include a claim where the immediate risk lies with a bank in the UK, and the ultimate risk lies with the UK non-bank private sector).                                                                                                                  The immediate counterparty is the one from whom the reporting party directly derives its return on investment in the financial asset and on whom the reporting party has the primary claim when liquidating the asset.                                                                                                                                                          The ultimate risk counterparty is the one where the final risk in relation to the financial asset lies - the one on whom the reporting party will make the final claim should all other counterparties fail to honour the claim (e.g. guarantors, security providers).                                                                                                                                                                                                                                                                                                                                                                                                             A claim is a financial asset and consists of money or a claim against another person or business (the counterparty) that can be converted into money.  It does not include intangible or operational assets of the reporting party nor does it include claims arising as a result of operational requirements of the business such as trade receivables or deferred tax assets.Outward risk transfers do not include the reporting entity's claims where the immediate counterparties are residents of the reporting entity's home country.