Definition: Financial asset

External debt - IMF

Financial assets are stores of value, over which ownership rights are enforced and from which their owners may derive economic benefits—such as property income and/or holding gains and losses—by holding them over a period of time. Most financial assets differ from other assets in the system of national accounts in that they have counterpart liabilities on the part of another institutional unit.
Source:
International Monetary Fund (IMF), "External Debt Statistics: Guide for Compilers and Users; Appendix III. Glossary of External Debt Terms", Washington D.C., 2003
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