Capital account transaction: regulation of cross border changes in assets and liabilities under permissible capital account rules. A capital account transaction denotes transfers that alter assets or liabilities, including contingent liabilities, of residents abroad or of non residents domestically. Regulation of these transactions is effected through the statutory capital account framework and the Permissible Capital Account Transactions Regulations, which identify allowable cross border capital dealings. A previously existing statutory list that enabled explicit prohibition, restriction or regulation of specified capital account items was repealed, modifying the prior basis for regulatory intervention.