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NOTE ISSUANCE FACILITIES (NIF) – SNA

Statistics Directorate    
French Equivalent: Facilités d’émission d’effets

Definition:
Underwritten note issuance facilities (NIFs) provide a guarantee that a potential debtor will be able to sell short-term securities (notes) that he issues and that the bank or banks issuing the facility will take up any notes not sold in the market or will provide equivalent advances; the facility itself is contingent, and the creation of the facility gives rise to no entry in the financial account; only if the underwriting institution is requested to make funds available will it acquire an actual asset, which is recorded in the financial account.

Source Publication:
SNA 11.25.

Cross References:
Note-issuance facility (NIF) – IMF

Hyperlink:
http://esa.un.org/unsd/sna1993/introduction.asp

Version Indicator: SNA

Statistical Theme: Financial statistics

Created on Tuesday, September 25, 2001

Last updated on Thursday, November 15, 2001