Adjusted balance

The reorganization of the accounting balance sheet consisted of preparing a new balance sheet in which only the concept to be studied appeared as a liability (historically the monetary base or the computable assets in the cash ratio of the banking system (‘cash assets’)). On the contrary, the counterparts were placed in the assets, that is, the rest of the items on the accounting balance sheet, both assets and liabilities, the latter with the sign changed.

To further facilitate the analysis of the variable of interest, the rest of the balance sheet concepts were sectorized. That is, the different concepts were divided according to the institutional sector (public administrations, financial institutions, other resident sectors, and the external sector) that was the final holder of each component of the counterparts.