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Income from Bonds: Treatment in the System of National Accounts 1993

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  • Ms. Lucie Laliberté

Abstract

How to account for interest on bonds in a system as integrated as the System of National Accounts 1993 (1993 SNA) has been a source of much controversy. Two main positions emerge: the debtor treatment based on the contractual arrangements of the bonds; and the creditor treatment based on current interest rates and prices of assets/liabilities. Using the discounted cash flow model, this paper explores the treatment of income and other benefits from assets in the 1993 SNA. It finds that the debtor approach to bond interest conforms with the 1993 SNA recording income and other benefits from assets, as that approach captures the results of effective decision making between institutional units.

Suggested Citation

  • Ms. Lucie Laliberté, 2002. "Income from Bonds: Treatment in the System of National Accounts 1993," IMF Working Papers 2002/221, International Monetary Fund.
    • Handle: RePEc:imf:imfwpa:2002/221
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    References listed on IDEAS

    as
    1. Mr. Chris Wright & Mr. John Joisce, 2001. "Statistical Treatment of Accrual of Intereston Debt Securities," IMF Working Papers 2001/132, International Monetary Fund.
    2. Abdré Vanoli, 1999. "Interest And Inflation Accounting," Review of Income and Wealth, International Association for Research in Income and Wealth, vol. 45(3), pages 279-302, September.
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    More about this item

    Keywords

    WP; bond; value; interest rate; yield; income;
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