This is the value of all cross border external financial assets of the reporting party as at the relevant date. A financial asset 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.                                                                                                                                      Cross border external claims are those financial assets where the counterparty to the transaction is not a resident of the same country as the branch, office or subsidiary (affiliate) of the reporting party that holds the claim.