Intercompany debt transactions between parents and financial affiliates that were not depository institutions and that were primarily engaged in financial intermediation functions were reclassified from the direct investment accounts to the nonbank investment accounts, where they were combined with other similar transactions of U.S. nonbanks. Related changes were also made to direct investment interest receipts and payments. Estimates were revised for 1994-1997. As a general principle, and in accordance with international guidelines, intercompany debt transactions of financial intermediaries are excluded from direct investment accounts.
Published