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reliable detailed cross border positions data can usually be collected on an
economy’s holdings of portfolio investment because the holder (creditor) will
usually know what securities it holds. On the liabilities side, the issuer of a security (debtor) may not know
the residency of the holder because the securities may be held by foreign custodians
or other intermediaries. Using the assets data reported by CPIS participating
economies, the IMF derives liabilities data for all economies (CPIS reporters
as well as nonreporters); these data are termed “derived liabilities”. A subset
of economies also report liabilities data (an encouraged item in the CPIS).
The CPIS dataset can be found here.
