The Financial account records transactions that involve financial assets and liabilities that have taken place between residents and non-residents. The financial account shows transactions in net terms: net acquisitions of financial assets correspond to gross acquisitions of assets less gross sales of assets; net incurrence of liabilites corresponds to gross incurrence of liabilites less gross decrease in liabilites. According to the functional sub-division cross-border financial transactions and positions are classified as Direct investment, Portfolio investment, Financial derivatives (other than reserves) and employee stock options, Other investment, and Reserve assets. Cross-border financial transactions and positions are further classified by type of instrument and institutional sector. The financial account together with the current and capital accounts forms the Balance of Payments (BoP). The data are expressed as % of GDP and in million units of national currency. The indicator is based on the Balance of Payments (BoP) data reported to Eurostat by the EU Member States. Starting from October 2014 definitions are based on the IMF's Sixth Balance of Payments Manual (BPM6).