The balance of payments is a statistical statement summarising transactions between Latvia's residents and the rest of the world. It incorporates the current account, the capital account and the financial account.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

A balance of payments component reflecting gross acquisitions/disposals of non-produced non-financial assets and capital transfers between Latvia's residents and the rest of the world.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Transactions where financial or non-financial assets intended for investment are provided or received without any compensation.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Financial institutions which are neither engaged in financial intermediation nor in providing financial auxiliary services, and where most of either their assets or their liabilities are not transacted on open markets. This sector includes holding companies that hold controlling-levels of equity of a group of subsidiary corporations and whose principal activity is owning the group without providing any other service to the businesses in which the equity is held, that is, they do not administer or manage other units.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

Institutions whose principal activity is issuing currency, preserving the internal and external value of the currency and managing the country's international reserves or any part thereof (incl. the European Central Bank).
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

Public institutional units, including ministries, embassies, representative offices, agencies, councils, educational, healthcare, law enforcement, cultural and other public institutions whose competence covers the whole economic territory of the country, except for the administration of social security funds. The list of the institutional units is compiled by the Central Statistical Bureau in accordance with the requirements of the European System of Accounts 2010.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

Charges for the use of proprietary rights (such as patents, trademarks, copyrights, industrial processes and designs including trade secrets and franchises), charges for licences to reproduce or distribute intellectual property embodied in produced originals or prototypes (such as copyrights on books and manuscripts, computer software, cinematographic works, and sound recordings) and related rights (such as for live performances and television, cable, or satellite broadcast).
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Wages and salaries, including social security contributions to social security and pension funds made by employers on behalf of employees.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Hardware and/or software-related services, and data-processing services. Hardware and software consultancy and implementation services; maintenance and repair of computers and peripheral equipment; disaster recovery services, provision of advice and assistance on matters related to the management of computer resources; analysis, design and programming of systems ready to use (including web page development and design), and technical consultancy related to software; licences to use non-customised software; development, production, supply and documentation of customised software, including operating systems made to order for specific users; systems maintenance and other support services, data-processing services, web page hosting services (i.e. the provision of server space on the Internet to host clients' web pages); and computer facilities management.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

The creation, renovation, repair or extension of fixed assets in the form of buildings, land improvements of an engineering nature and other engineering constructions (including roads, bridges, dams, etc.). Installation and assembly work, site preparation and general construction, specialised services such as painting, plumbing and demolition, and management of construction projects.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Loans to households and non-profit institutions serving households for purchasing consumer goods, such as household appliances and cars, and paying for services, such as medical care and travels, that are not related to gaining profit, including loans granted in compliance with the provisions of an agreement on using settlement account.
The definition of the concept is consistent with Regulation (EU) 2021/379 of the European Central Bank of 22 January 2021 on the balance sheet items of credit institutions and of the monetary financial institutions sector (recast) (ECB/2021/2).

Credits granted by an MFI to a household or non-financial corporation as a holder of a credit card or a card with the delayed debit function at an interest rate of 0% in the period starting from the date of effecting the payment transaction with the card during one billing cycle and up to the date at which the debit balance from this billing cycle becomes due.
The definition of the concept is consistent with Regulation (EU) 2021/379 of the European Central Bank of 22 January 2021 on the balance sheet items of credit institutions and of the monetary financial institutions sector (recast) (ECB/2021/2).

Credits granted by an MFI to a household or non-financial corporation as a holder of a credit card or a card with the delayed debit function at an interest rate of 0% in the period starting from the date of effecting the payment transaction with the card during one billing cycle and up to the date at which the debit balance from this billing cycle becomes due.

The definition of the concept is consistent with Regulation (EU) 2021/379 of the European Central Bank of 22 January 2021 on the balance sheet items of credit institutions and of the monetary financial institutions sector (recast) (ECB/2021/2).

Agreements that allow customers to take advances, during a defined period and up to a certain limit, and repay the advances at their discretion before a previously defined date.
The definition of the concept is consistent with Regulation (EU) 2021/379 of the European Central Bank of 22 January 2021 on the balance sheet items of credit institutions and of the monetary financial institutions sector (recast) (ECB/2021/2).

Banknotes and coins in circulation issued by central banks or central government and commonly used to make payments.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union and the Sixth Edition of the IMF's Balance of Payments and International Investment Position Manual (BPM6).

A balance of payments component reflecting flows in goods, services, primary income and secondary income between Latvia's residents and the rest of the world.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Transactions where a resident, without any compensation, provides a non-resident with or receives from non-resident goods, services, financial or non-financial assets not intended for investment. Current transfers fall into current transfers of the general government and current transfers of other sectors. Current transfers of the general government are those where either the donor or the recipient is the central government or local governments of Latvia.
The definition of the concept is consistent with Balance of Payments Manual 5th edition.

Trade credits, borrowing and lend­ing transactions conducted between direct investors and direct investment enterprises, mutual acquisitions and disposals of debt securities issued by direct investors and direct investment enterprises, as well as other mutual assets and liabilities of direct investors and direct investment enterprises. Assets and liabilities vis-à-vis sister companies classified in the same direct investment group are also included.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Securities representing an obligation and a promise on the part of the issuer to make one or more payment(s) to the holder of the securities at a specified future date or dates (e.g. bonds, notes). Such securities usually carry a specific rate of interest (the coupon) or are sold at a discount to the amount that will be repaid at maturity.
Short-term debt securities are debt securities issued with an original maturity of up to one year (inclusive).
Long-term debt securities are debt securities issued with an original maturity of over one year.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

Funds that are deposited with MFIs for a specified or unspecified period of time, with or without interest.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union and the Sixth Edition of the IMF's Balance of Payments and International Investment Position Manual (BPM6).
Related definitions: Transferable deposits and Other deposits

Funds that are deposited with an MFI without a specified maturity and may be withdrawn on demand either subject to notifying the MFI within an agreed period of notice or subject to payment of a substantial penalty (e.g. savings deposits).
The definition of the concept is consistent with Regulation (EU) 2021/379 of the European Central Bank of 22 January 2021 on the balance sheet items of credit institutions and of the monetary financial institutions sector (recast) (ECB/2021/2).

Investment by an investor (direct investor) made directly or indirectly (through subsidiaries or associated companies) to acquire a lasting interest (corresponding to at least 10% ownership of ordinary shares or voting rights) in an enterprise (direct investment enterprise). The components of direct investment are equity and debt instruments.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund and Benchmark Definition of Foreign Direct Investment (4th edition) of the Organisation for Economic Co-operation and Development.

Agreements made on a given date under which an employee has the right to purchase a given number of shares of the employer's stock at a stated price either at a stated time or within a period of time immediately following the vesting date.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

A financial asset that is a claim on the residual value of a corporation, after the claims of all creditors have been met. It incorporates listed shares, unlisted shares and other equity.
In a financial account and foreign direct investment context cross-border investment in real estate are also included.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union and Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

see Equity and Investment fund shares or units

Credits subsequent to the convenience credit card credits, i.e. a debit balance on the card account which has not been settled when it was first possible and for which an interest rate or tiered interest rate, usually higher than 0%, are charged and for which the customer may have to pay minimum monthly instalments to repay the extended credit at least partially.
The definition of the concept is consistent with Regulation (EU) 2021/379 of the European Central Bank of 22 January 2021 on the balance sheet items of credit institutions and of the monetary financial institutions sector (recast) (ECB/2021/2).

External debt data (gross) present debt-related liabilities between Latvia's residents and the rest of the world. The net external debt position is equal to gross external debt less the respective items of foreign assets.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund and External Debt Statistics: Guide for Compilers and Users (2013) of the International Monetary Fund.

A balance of payments component reflecting financial assets and financial liabilities (direct investment, portfolio investment, financial derivatives, other investment and reserve assets) between Latvia's residents and the rest of the world.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Financial accounts is a part of the system of national accounts, comprising outstanding amounts, transactions, revaluation changes due to exchange rate fluctuations, revaluation changes due to price changes and other changes in financial instruments broken down by sector and counterparty sector.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

Financial corporations that are primarily engaged in auxiliary financial activities, i.e. activities that are closely related to financial intermediation but are not financial intermediation themselves, e.g. investment brokers who do not engage in financial intermediation services on their own behalf, corporations that provide infrastructure for financial markets, supervisory institutions of monetary financial institutions, financial institutions and the financial market (NASDAQ Riga, Nasdaq CSD SE, insurance brokerage companies, currency exchange companies, investment management corporations, head offices whose subsidiaries or most of subsidiaries are financial institutions, as well as private pension funds without pension scheme assets).
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

Institutional units that are independent legal entities and market producers (institutional units freely selling financial services in a market), and whose principal activity is the production of financial services (monetary financial institutions; non-MMF investment funds; other financial intermediaries, except insurance corporations and pension funds; financial auxiliaries; captive financial institutions and money lenders; insurance corporations; pension funds). Also included are institutional units providing financial services, where most of either their assets or their liabilities are not transacted on open markets.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

Financial instruments linked to a specified financial instrument or indicator or commodity, through which specific financial risks can be traded in financial markets in their own right. Financial derivatives meet the following conditions: they are linked to a financial or non-financial asset, to a group of assets, or to an index; they are either negotiable or can be offset on the market; and no principal amount is advanced to be repaid. For example: Options, Forwards, Swaps, Forward rate agreements (FRAs), credit derivatives.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union and Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

see
Financial derivatives and
Employee stock options

Financial instruments comprise means of payment, financial claims and claims which are close to financial claims in nature. Financial instruments are broken down mostly on the basis of their liquidity.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

Explicitly charged financial services (commissions and charges related to loans, financial leasing, factoring, financial asset management, financial advisory services, foreign exchange transactions, brokerage services, issue, purchase and sale of securi­ties, and arranging transactions in financial derivatives) and financial intermediation services indirectly measured (margins between interest payable and the reference rate on loans and deposits used by financial corporations for covering their expenses and earning profit).
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Institutional units other than MFIs that have been set up for the purpose of carrying out one or more securitisations.
The definition of the concept is consistent with Regulation (EU) 1075/2013 of the European Central Bank of 18 October 2013 concerning statistics on the assets and liabilities of financial vehicle corporations engaged in securitisation transactions (recast) (ECB/2013/40).

Public institutional units engaged in production of goods or provision of services intended for individual or collective consumption free of charge or at economically insignificant prices, primarily financed from the compulsory payments (taxes and duties) imposed on economic agents, as well as institutional units engaged in redistribution of national income or wealth. General government in Latvia includes central government, local government and social security funds. The list of the institutional units is compiled by the Central Statistical Bureau in accordance with the requirements of the European System of Accounts.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

Goods whose economic ownership is changed (exports (dispatches) and imports (arrivals) of goods) and that are not included in other specific categories.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

General merchandise, net exports of goods under merchanting, and non-monetary gold.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Government transactions (including those of international organisations) in goods and services that cannot be classified under other items.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Transactions in assets used in or required for the manufacture of goods and provision of services that are not produced themselves, and transactions involving non-produced intangibles (patents, copyright, trademarks, franchise, etc).
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Natural persons or groups of natural persons as consumers and producers of goods and providers of non-financial services exclusively for their own final use. Households shall also include sole proprietors as economic units which are established by a natural person or a group of natural persons, provided this natural person or group of natural persons are liable to settle the obligations of the economic units with the whole of their property, and which organise their accounting registers in accordance with the single-entry system.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

News agency services, database services (database conception, data storage and the dissemination of data and databases, including directories and mailing lists), both online and through magnetic, optical or printed media; and web search portals (search engine services that find Internet addresses for clients who input keyword queries). Direct, non-bulk subscriptions to newspapers and periodicals, whether by mail, electronic transmission or other means; other online content provision services; and library and archive services.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Direct insurance and reinsurance services, auxiliary insurance services, pension and standardised guarantee services.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Financial corporations that are mainly engaged in financial intermediation as a consequence of the pooling of risks mainly in the form of direct insurance or reinsurance. Insurance corporations provide life or non-life insurance services. This sector comprises insurers and re-insurers.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

see
Non-life insurance technical reserves,,
Provision for calls under standardised guarantees,
Life insurance and annuity entitlements and
Pension entitlements, claims of pension funds on pension managers, entitlements to non-pension benefits

International investment position is a statistical statement reflecting the value and composition of financial assets and financial liabilities between Latvia's residents and the rest of the world, on a specific date, as well as changes in the residual values in the respective time period. Changes in the residual values may occur as a result of transactions (balance of payments data), exchange rate changes, price changes, and other adjustments (mainly due to various reclassifications in the system of information provider, debt capitalisation, etc). International investment position includes direct investment, portfolio investment, financial derivatives, other investment, and reserve assets.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Institutional units that are not registered as residents of one country, e.g. the World Bank, the European Bank for Reconstruction and Development, the European Investment Bank, the European Commission, the Bank for International Settlements and the International Monetary Fund.
The definition of the concept and the codes of international organisations are consistent with the Eurostat Balance of Payments Vademecum.

Equities certifying participation of an investor in an investment fund (incl. in an MMF) and the rights arising from such participation.
The definition of the concept is consistent with European Parlament and Council Regulation (EU) No 549/2013 of 21 May 2013 on the European system of national and regional accounts in the European Union.
Related definitions:
MMF shares or units and
Non-MMF investment fund shares or units

Income from holdings of financial assets and payments on financial liabilities.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Financial claims that life insurance policy holders and beneficiaries of annuities have against corporations providing life insurance.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union and the Sixth Edition of the IMF's Balance of Payments and International Investment Position Manual (BPM6).

Shares traded on regulated markets.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union and Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Loans granted to households and non-profit institutions serving households for purchase of a house, a flat or a plot of land for personal use or for rental, for building or refurbishment, including loans for house purchase that are secured by residential property or other assets, mortgage loans and loans for renovation of a house or a flat that add value to the economic features of the house or the flat.
The definition of the concept is consistent with Regulation (EU) 2021/379 of the European Central Bank of 22 January 2021 on the balance sheet items of credit institutions and of the monetary financial institutions sector (recast) (ECB/2021/2).

Institutional units of public administration, whose competence covers only a local economic territory. The list of the institutional units is compiled by the Central Statistical Bureau in accordance with the requirements of the European System of Accounts 2010.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

Monetary base: a monetary aggregate that is calculated on the basis of the Bank of Latvia's methodology and comprises the lats banknotes and coins issued by the Bank of Latvia and demand deposits of resident MFIs and financial institutions (overnight deposits) with the Bank of Latvia.
The definition of the concept is consistent with the methodology of the Bank of Latvia (briefly described in the Bank of Latvia's Annual Report).

A narrow monetary aggregate comprising currency in circulation and overnight deposits held with MFIs by euro area residents.
The definition of the concept is consistent with the methodology of the European Central Bank.

An intermediate monetary aggregate comprising M1 and deposits held with MFIs by euro area residents and redeemable at a period of notice of up to and including 3 months (i.e. short-term savings deposits) and those with an agreed maturity of up to and including 2 years (i.e. short-term time deposits).
The definition of the concept is consistent with the methodology of the European Central Bank.

A broad monetary aggregate comprising M2 and marketable instruments, in particular repurchase agreements, money market fund shares/units, and debt securities with a maturity of up to and including two years issued by MFIs.
The definition of the concept is consistent with the methodology of the European Central Bank.

Processing, assembly, labelling, packing, ect. of goods owned by others. Include only those services after which the acquired goods are returned to the country from which they arrived for processing; only the value for the provided services is reported.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

see Investment fund shares or units

Central bank, credit institutions (except non-MFI credit institutions), credit unions, money market funds (MMFs) and other financial institutions whose business is to receive deposits or close substitutes for deposits from customers other than MFIs and, on their own account, to grant credits and invest in securities; as well as electronic money institutions, whose main business is issuing of electronic money.
The definition of the concept is consistent with Regulation (EU) 2021/379 of the European Central Bank of 22 January 2021 on the balance sheet items of credit institutions and of the monetary financial institutions sector (recast) (ECB/2021/2).

Gold, which is a component of foreign reserves assets. Monetary gold is held by central bank or central government and it is subject to the effective control of those institutions.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

An open-end investment fund meeting the following criteria:
1. the investment management corporation managing the fund shall make investments, preserving the fund's principal and providing a return in line with the interest rate on money market instruments, calculate the fund's net asset value and the price of its units on a daily basis, as well as sell and repurchase its units;
2. its investments shall be made in financial instruments with a residual maturity up to and including 2 years (for a short-term money market fund – up to and including 397 days), and time to the next interest rate reset date – up to and including 397 days);
3. the weighted average maturity of its investment portfolio shall be up to and including 6 months (for a short-term money market fund – up to and including 60 days) and the weighted average residual maturity shall be up to and including 12 months (for a short-term money market fund – up to and including 120 days).

The purchase of goods combined with the subsequent resale of the same goods without the goods being present in the buyer's economy. Net exports of goods under merchanting represent the difference between sales over purchases of goods for merchanting.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

The difference between total transactions in financial instrument assets and total transactions in financial instrument liabilities. If a difference is positive, then sector has financed the operations of other sectors; if negative, it has received funds from other sectors. The net financial transactions of residents shows whether the country as a whole has involved external funds or allocated them abroad.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

The difference between total outstanding amount of financial instrument assets and total outstanding amount of financial instrument liabilities. If the net financial worth of a sector is positive, its financial assets exceed liabilities; if negative, liabilities exceed assets. If the net financial worth of residents is positive, external claims exceed external liabilities and non-residents have a debt to the country. Negative net financial worth of residents indicate the debt of the country to non-residents.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

Institutional units whose principal activity is producing goods and providing non-financial services, including economic units which are established by a natural person or a group of natural persons, provided this natural person or group of natural persons are liable to settle the obligations of the economic units with the whole of their property, and which organise their accounting registers in accordance with the double-entry system, head offices whose subsidiaries or largest share of subsidiaries are non-financial corporations.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

Financial claims that non-life insurance policy holders have against non-life insurance corporations in respect of unearned premiums and claims incurred.
Transactions in non-life insurance technical reserves for unearned premiums and claims incurred relate to risks like accidents, sickness, or fire, and also to reinsurance.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union and the Sixth Edition of the IMF's Balance of Payments and International Investment Position Manual (BPM6).

see Non-life insurance technical reserves and Provision for calls under standardised guarantees

Credit institutions the business of which does not consist of the activities referred to in Article 4(1)(1)(a) of Regulation (EU) No 575/2013, i.e., credit institutions that do not take deposits or other repayable funds from the public and that do not grant credits for their own account.
The definition of the concept is consistent with Regulation (EU) 2021/379 of the European Central Bank of 22 January 2021 on the balance sheet items of credit institutions and of the monetary financial institutions sector (recast) (ECB/2021/2).

Institutional units other than MFIs (incl. general government, non-MMF investment funds, alternative investment funds, other financial intermediaries, financial auxiliaries, captive financial institutions and money lenders, insurance corporations and pension funds, non-financial corporations, households and non-profit institutions serving households).
The definition of the concept is consistent with Regulation (EU) 2021/379 of the European Central Bank of 22 January 2021 on the balance sheet items of credit institutions and of the monetary financial institutions sector (recast) (ECB/2021/2).

see Investment fund shares or units

All collective investment enterprises, except money market funds, which invest in financial and/or non-financial assets, to the extent that the objective is investing capital raised from the public. Their business is to issue investment fund shares or units which are not close substitutes for deposits, and, on their own account, to make investments primarily in financial assets other than short-term financial assets and in non-financial assets (usually real estate).
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

Gold not included in reserve assets.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Separate legal entities that provide goods and services to natural persons or groups of natural persons and that derive resources mainly from voluntary contributions in cash or kind from payments made by general governments and from property income, e.g., trade unions, professional or educational associations, consumer associations, political parties, churches, religious communities, culture, recreation and sports clubs, charity, support and aid organisations.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

All institutional units registered abroad, and natural persons whose households are located outside Latvia or who are staying in Latvia for a period of time less than one year (excl. students), as well as branches of MFIs registered abroad as well as foreign diplomatic and consular representative offices, those of international institutions and other official representative offices in Latvia shall also be considered non-residents.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

Financial claims (or liabilities) which are not trade credits and advances and which are created as a counterpart of a financial or a non-financial transaction in cases where there is a timing difference between this transaction and the corresponding payment.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

see Trade credits and advances and Other accounts receivable (or payable) excluding trade credits and advances

Assets that cannot be classified as other equity; currency and deposits; loans; insurance, pension and standardised guarantees; trade credits and advances.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Research and development services (services that are associated with basic research, applied research, and experimental development of new products and processes, commercial research related to electronics, pharmaceuticals and biotechnology), professional and management consulting services (legal services, accounting, management consulting, managerial services and public relations services, advertising, market research, and public opinion polling services), technical, trade-related, and other business services (architectural, engineering, scientific and other technical services, waste treatment and de-pollution, agricultural and mining services, operating leasing services, trade-related services and other business services n.i.e.).
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Deposits other than transferable deposits. Other deposits cannot be used to make payments except on maturity or after an agreed period of notice, and they are not exchangeable for currency or for transferable deposits without some significant restriction or penalty.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

Equity other than listed shares and unlisted shares. The capital of a central bank and investment of the general government in the capital of international organizations, with the exception of the International Monetary Fund, are also included.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union and Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

In financial accounts publication this sector involves (combines) three other sectors:
Other financial intermediaries, except insurance corporations and pension funds;
Financial auxiliaries and
Captive financial institutions and money lenders

Financial corporations that are primarily engaged in financial intermediation by incurring liabilities in forms other than currency deposits or investment fund shares, or in relation to insurance, pension and standardised guarantee schemes from non-monetary financial institutions (inter alia corporations engaged in lending (e.g. financial leasing companies, factoring companies, export/import financing companies), investment brokerage companies (including those which are non-MFI credit institutions), financial vehicle corporations, central counterparties, and venture capital corporations
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

Financial investment other than that included in direct investment, portfolio investment, financial derivatives and reserve assets. Other investment is classified by type of financial instrument: other equity; currency and deposits; loans; insurance, pension and standardised guarantees; trade credits and advances; Special Drawing Rights; other assets and other liabilities.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Liabilities that cannot be classified as other equity; currency and deposits; loans; insurance, pension and standardised guarantees; trade credits and advances.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Loans granted for a purpose other than consumption or house purchase, e.g. loans for business activities, education.
The definition of the concept is consistent with Regulation (EU) 2021/379 of the European Central Bank of 22 January 2021 on the balance sheet items of credit institutions and of the monetary financial institutions sector (recast) (ECB/2021/2).

Taxes on production and imports (such as customs duties), subsidies (such as subsidies for farmers) and rent (income receivable for putting natural resources at the disposal of another unit).
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Currency and deposits, securities, financial derivatives and other claims in foreign currency that are readily available to and controlled by monetary authorities.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Deposits which are convertible into currency and/or transferable on demand by cheque, banker's order, debit entry or similar means, without significant delay, restriction or penalty. Such deposits also include balances (interest-bearing or not) immediately convertible into currency on demand or by close of business on the day following that on which the demand was made, without any material penalty or restriction, but which are not transferable; balances (interest-bearing or not) representing prepaid amounts related to a hardware-based or software-based electronic money (e.g., prepaid cards); loans to be repaid on the next business day following that on which the loan was granted.
The definition of the concept is consistent with Regulation (EU) 2021/379 of the European Central Bank of 22 January 2021 on the balance sheet items of credit institutions and of the monetary financial institutions sector (recast) (ECB/2021/2).

Financial claims that pension funds hold against pension managers and that current employees and former employees hold against either their employers, an insurer or a scheme designated by the employer to pay pensions as part of a compensation agreement between the employer and the employee.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union and the Sixth Edition of the IMF's Balance of Payments and International Investment Position Manual (BPM6).

Financial corporations that insure social risk of their members by accruing and investing voluntary contributions made by members themselves or for their benefit to provide such members with extra old age or disability pension capital. In Latvia, private pension plans managed by private pension funds and investment plans of state funded pension scheme managed by investment management companies are included in this sector.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

Audiovisual and related services (services and associated fees related to the production of motion pictures, radio and television programmes and musical recordings) and other personal, cultural and recreational services (education, health, culture, recreational, etc. services).
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Investment in listed shares, unlisted shares and investment fund shares or units and debt securities.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

The return that accrues for the contribution to the production process or for the provision of financial assets, or for renting natural resources. It comprises compensation of employees, investment income and other primary income.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Financial claims that holders of standardised guarantees have against institutional units providing them.
Provisions relating to calls under standardised guarantees are prepayments of net fees and provisions to meet outstanding calls under standardised guarantees. Like provisions for prepaid insurance premiums and reserves, provisions for calls under standardised guarantees include unearned fees (premiums) and calls (claims) not yet settled.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union and the Sixth Edition of the IMF's Balance of Payments and International Investment Position Manual (BPM6).

Shares placed on regulated markets.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

A part of the enterprise's profit or loss that belongs to the direct investor in proportion to its holding and remains at the disposal of the direct investment enterprise.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Costs of repair work on ships, aircraft and other fixed assets increasing the value of fixed assets.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Agreements on selling securities at a specified price on condition that the same or similar securities are repurchased for the specified price at maturity of the transaction.
The definition of the concept is consistent with Regulation (EU) 2021/379 of the European Central Bank of 22 January 2021 on the balance sheet items of credit institutions and of the monetary financial institutions sector (recast) (ECB/2021/2).

External foreign currency assets that are readily available to, and controlled by, monetary authorities (monetary gold, Special Drawing Rights, reserve position in the IMF, other reserve assets).
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

The "reserve tranche" that is, the foreign currency, including SDR, amounts that a member country may draw from the IMF at short notice and any indebtedness of the IMF under a loan agreement in the General Resources Account that is readily available to the member country.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

All institutional units, including foreign ones, registered and operating in Latvia, and natural persons whose households are located in Latvia and who do not leave Latvia for a period of time of over one year (excl. students), as well as Latvian diplomatic, consular and other representative offices abroad.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

see Non-residents

Agreements on buying securities at a specified price on condition that the same or similar securities are resold for the specified price at maturity of the transaction.
The definition of the concept is consistent with Regulation (EU) 2021/379 of the European Central Bank of 22 January 2021 on the balance sheet items of credit institutions and of the monetary financial institutions sector (recast) (ECB/2021/2).

Loans which have the following features: the borrower may use or withdraw funds from the account up to the pre-approved credit limit without giving prior notice to the MFI; the amount of the available credit may increase or decrease as funds are borrowed or repaid; credit may be used recurrently.
The definition of the concept is consistent with Regulation (EU) 2021/379 of the European Central Bank of 22 January 2021 on the balance sheet items of credit institutions and of the monetary financial institutions sector (recast) (ECB/2021/2).

Transactions where, without any com­pensation, goods, services and financial or non-financial assets not intended for investment are exchanged. Personal income, property and other taxes, social contributions, social benefits, net non-life insurance premiums, non-life insurance claims, government funds transfers under cross-border cooperation, value added tax own resources and gross national income own resources as well as a variety of other transfers, inter alia, transfers between households, are included.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Manufacturing services, repair services, transport, travel, construction, insurance and pension services, financial services, charges for the use of intellectual property n.i.e., telecommunications services, computer services and information services, other business services, personal, cultural and recreational services, government goods and services n.i.e.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

A component of foreign reserves assets created by the International Monetary Fund and which are allocated to its members to supplement existing reserve assets. Special drawing rights are held by central bank or central government and are subject to the effective control of those institutions.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union and the Sixth Edition of the IMF's Balance of Payments and International Investment Position Manual (BPM6).

The transmission of sound, images or other information by telephone, radio and television cable and broadcasting, satellite, electronic mail etc., business network services, teleconferencing and support services, mobile telecommunications services, Internet backbone services and online access services, including provision of access to the Internet.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

see Residents

Financial claims arising from the direct extension of credit by the suppliers of goods and services to their customers, and advances for work that is in progress or is yet to be undertaken, in the form of prepayment by customers for goods and services not yet provided. Trade credits and advances arise when payment for goods or services is not made at the same time as the change in ownership of a good or provision of a service.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union and the Sixth Edition of the IMF's Balance of Payments and International Investment Position Manual (BPM6).

Overnight deposits to be directly transferred on demand for making payments using payment instruments (e.g. credit transfer or direct debit), probably also using a card, e-money and cheques, without any material penalty or restriction.
Deposits that could be used for withdrawing cash and deposits wherefrom the funds can be withdrawn or transferred only via another account of the same customer are not included under the category of transferable deposits.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union.

Carriage of passengers and freight, rentals of vehicles (with crew), postal and courier services, and other supporting services and auxiliary transport services.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Goods and services purchased by travellers, except international carriage of passengers.
The definition of the concept is consistent with Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

Shares that are not traded on regulated markets.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union and Balance of Payments and International Investment Position Manual (6th edition) of the International Monetary Fund.

see Unlisted shares and Other equity