63
These and other special cases will be discussed in detail in the
forthcoming OECD manual of economic globalisation
indicators.
4.23. The present Manual is consistent with BPM5
and BD3 in including in FATS statistics all types of
firms, including the so-called special purpose entities
(SPEs), if they otherwise meet the criteria for selection.
Whatever their structure (e.g., holding company, base
company, regional headquarters) or purpose (e.g.,
administration, management of foreign exchange risk,
facilitation of financing of investment), SPEs are an
integral part of the structure of the direct investment
network, and their activities and products should be
included, as appropriate, in the compilation of FATS
statistics.
64
4.24. Statistics on foreign affiliates owned by
residents of the compiling economy should include all
majority-owned foreign affiliates, irrespective of
whether the affiliate is held directly or indirectly and
irrespective of whether the direct investor in the
compiling economy is the ultimate owner or is, instead,
an intermediate owner in an ownership chain.
65
However, because the activities of an affiliate held
through an ownership chain could be recorded in the
outward FATS statistics of the countries of both the
ultimate and intermediate owners, countries are
encouraged to indicate the aggregate share of FATS
variables accounted for by foreign affiliates for which
the compiling country is an intermediate rather than
final owner.
