The particular array employed depends on the specific purposes to which the data set is to be applied. The treatment of capital gains in the NIPA, for example, is intended to allow the accounts to most accurately attribute national saving to the various sectors in the accounts. Indeed, when that is the objective, the removal of capital gains is essential.
And so far as banks are concerned, capital requirements are applied to such risks as they are to loans that create credit risks quite similar to those of derivatives. Hence, although one may harbor concerns about the overall capital adequacy of banks and their degree of leverage, there is little to distinguish such concerns between risk-adjusted onand off-balance sheet claims.