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  • Economic Calendar Terms

    ECB current account, EUR

    ECB - European Central Bank
    Kaiserstrasse 29
    D-60311 Frankfurt am Main

    In the current account, transactions are recorded when economic value is created, exchanged, transferred or extinguished. Goods are recorded according to the date of change in ownership; it should be noted that the goods item in the euro area balance of payments is not fully comparable with that in the external trade statistics owing to differences in the definition, coverage and time of recording. Services are recorded according to their actual delivery; income is usually recorded at the time it is accrued. Income is composed of the compensation of employees and investment income. Current transfers are recorded as of the date of occurrence of the underlying transactions; they consist of all transfers that are not transfers of capital, which are recorded in the (new) capital account. In the financial account, direct and portfolio investment and other investment are compiled on the basis of net inflows/outflows in assets and liabilities with non-residents of the euro area.