The first purpose of this paper is to present the compilation procedure of the Asset- Liability-Matrix (ALM) from the Flow-of-Funds (FOF) accounts in the balance sheet format that is widely available in IMF member countries. The introduction of ALM into the framework of FOF analysis enables us...

As Copeland (1947; 1952) demonstrated with his money-flows accounts more than half a century ago, the balance sheets of economic entities are closely interrelated through a lender-borrower relationship. This paper is an attempt to describe the US subprime mortgage crisis in the framework of 'balance...