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Third quarter 2008

The national balance sheet accounts are comprised of the balance sheets of all of the sectors of the economy: the persons and unincorporated business, corporate, government and non-resident sectors. They cover all resident non-financial assets and all financial claims and associated liabilities outstanding in all sectors.

National wealth is the sum of non-financial assets (produced assets, land surrounding structures and agricultural land) in all resident sectors of the economy.

National net worth is the sum of the net worth of the persons and unincorporated business, corporate and government sectors. Alternatively, it is national wealth less net foreign liabilities (i.e., what is owed to non-residents less what non-residents owe to Canadians).

National saving is the sum of saving of the persons and unincorporated business, corporate and government sectors. National saving and the investment it supports contribute to the change in national net worth.

The revaluation of assets and liabilities also contributes to changes in national net worth. The causes of revaluation include changes in non-financial asset prices, equity prices, interest rates, exchange rates and loan allowances.

Canadian household debt in this release is defined as consumer credit and mortgage debt of the Persons and Unincorporated Business sector which includes non-government non-profit institutions serving households. Household debt for the US is comprised of consumer credit and mortgage debt as published by the Federal Reserve Board for Households, Non-Profit Organizations and Nonfarm Noncorporate Business.

Quarterly series, both book and market value, are available from the first quarter of 1990. Marketable securities are at market value, unless otherwise stated. For more information on the market value estimates, consult the Balance sheet estimates at market value.

Additional sub-sector tables for the National Balance Sheet on a market value basis are now available on request (613-951-3640, The sub-sectors covered will include a number of institutional investors, such as life insurance and pension funds, mutual funds, and chartered banks and near banks. These tables will provide the same level of detail as our existing market value tables, in terms of the financial instruments presented, and will cover the first quarter of 1990 to the third quarter of 2008.