Remunerated transactions in which a borrower, on the basis of a written contract, receives money from a lender in ownership and which impose a duty on the borrower to return the money received from the lender within a specified time and following a specified procedure.
Short-term borrowings are borrowings with an initial maturity of up to one year (inclusive).
Long-term borrowings are borrowings with an initial maturity of over one year.
The definition of the concept is consistent with Regulation (EU) No 549/2013 of the European Parliament and of the Council of 21 May 2013 on the European system of national and regional accounts in the European Union and the sixth edition of the International Monetary Fund's Balance of Payments and International Investment Position Manual.