International Investment Position Accounts by pns30765

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									  International Economic Accounts




                                               International Investment Position
The Bureau of Economic Analysis (BEA) prepares and                 policymakers, private individuals, and companies.
publishes statistics on the value of accumulated stocks of            U.S.-owned assets abroad include U.S. official reserve
U.S.-owned assets abroad and of foreign-owned assets in the        assets, U.S. government assets other than official reserve
United States, as well as the value of the net international       assets, and U.S. private assets. U.S. private assets consist of U.S.
investment position (IIP) of the United States. These statistics   direct investment abroad, U.S. holdings of foreign securities,
are produced annually and reflect values as of yearend. The        U.S. claims on foreigners reported by U.S. banks, U.S. claims
year-to-year changes in investment positions are accounted         on unaffiliated foreigners reported by U.S. nonbanking
for by transactions, which are presented in the international      concerns, and U.S. holdings of financial derivatives with gross
transactions accounts (ITAs), and several types of valuation       positive fair value.
adjustments.                                                          Foreign-owned assets in the United States include
   Assets are recorded in the IIP accounts at current cost or      foreign official assets in the United States and other foreign
at market value. Direct investment is recorded at current          assets in the United States. Other foreign assets consist of
cost, and supplemental information is available at market          foreign direct investment in the United States, foreign holdings
value and at historical cost (or book value). Equity, long-        of U.S. securities, foreign holdings of U.S. currency, U.S.
term marketable debt securities, and gold are recorded at          liabilities to foreigners reported by U.S. banks, U.S. liabilities
market value. For other types of assets, face value is generally   to unaffiliated foreigners reported by U.S. nonbanking
presumed to represent market value.                                concerns, and U.S. holdings of financial derivatives with gross
   Changes in the value of stocks of assets in the IIP consist     negative fair value.
of two elements. The first is the change attributable to
international financial transactions, which are recorded in        For more information
the ITAs. The second is the change attributable to valuation       For more information, see the annual article, “International
adjustments, including price changes, exchange rate changes,       Investment Position of the United States at Yearend,” in the
and other factors.                                                 July issue of the Survey of Current BuSineSS. The Survey is available
   The IIP accounts provide information on the composition         on the BEA Web site at www.bea.gov.
of U.S.-owned assets abroad and of foreign-owned assets in            Links to the latest IIP release and data tables are also
the United States. This information facilitates analyses of the    available on the Web site. Yearend positions from 1976
economic effects of international lending and investment.          through the most recently published year are available in a
For example, the economic effects of direct investment can         spreadsheet file (.xls format).
be much different from the economic effects of portfolio              To contact one of our staff, call the Balance of Payments
investment. Within portfolio investment, the relative              Division at 202–606–9564, or e-mail internationalaccounts@
importance of foreign ownership of domestic stocks, bonds,         bea.gov.
bank loans, and deposits is often of interest to government




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