Non-financial corporations excluding foreign direct investments credit flow, consolidated

The non-financial corporations credit flow excluding foreign direct investment indicator measures the net amount of liabilities incurred during the year by the non-financial corporations sector (S.11), excluding foreign direct investment (FDI).The compilation covers the instruments debt securities (F.3) and loans (F.4), with FDI excluded. FDI data are sourced from the ECB quarterly financial accounts. Data are presented in consolidated terms (i.e. excluding intra-sector transactions) and expressed as a percentage of the corresponding stocks (excluding FDI) at the end of the previous year. Sector and instrument definitions are in line with ESA 2010. This MIP scoreboard indicator is the flow counterpart of the non-financial corporations sector debt (a stock indicator). The indicative threshold for the non-financial corporations credit flow is 13%. The formula is: [(NFCCF-FDI)(t)/(STOCKS-FDI)(t-1)]*100. In the table, values are also expressed in millions of units of national currency.