Methodology
The IDS tracks outstanding amounts of international bonds, ie bonds issued outside the local market of the country where the borrower resides. The IDS BIS debt securities are harmonised with the recommendations of the Handbook on securities statistics, an internationally agreed framework for classifying debt securities issues (see paragraphs 7.58 to 7.62 for details). In particular, paragraph 7.62 lists the criteria (in descending order of preference) for classifying a bond as international:
- The debt security is listed on a recognised exchange in the domestic economy (domestic issue) or in a foreign economy (international security).
- The debt security has an ISIN with a country code that is the same as the legal domicile of the issuer, and/or is allocated a domestic security code by the domestic national numbering agency (domestic security). Alternatively, the debt security has an ISIN with a country code different from the one for the country where the issuer is legally domiciled and/or has an international security code issued by a foreign national numbering agency (international security).
- The security is issued in the domestic currency (domestic issue) or in a foreign currency (international issue).
Please refer also to "What constitutes an international debt security in BIS statistics?", Box A, BIS Quarterly Review, June 2021.