Definition: Debt defeasance
SNA
Debt defeasance allows a debtor (whose debts are generally in the form of debt securities and loans) to remove certain liabilities from the balance sheet by pairing irrevocably assets of equal value to the liabilities (SNA 2008, § 12.42 and 22.122).
Debt defeasance allows a debtor (whose debts are in the form generally of securities other than shares and loans) to remove certain liabilities from the balance sheet by pairing irrevocably assets of equal value to the liabilities (SNA 1993, § 11.24).
Source:
European Commission (Eurostat), International Monetary Fund (IMF), Organisation for Economic Co-operation and Development (OECD), United Nations (Statistics Division), World Bank, "System of National Accounts 2008", United Nations, New York, 2009
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