"Safe assets" is a catch-all term to describe financial contracts that market participants treat as if they were risk-free. These may include government debt, bank deposits, and asset-backed securities, among others. The International Monetary Fund estimated potential safe assets at more than $114 trillion worldwide in 2011, more than seven times the U.S. economic output that year.
Anna Gelpern & Erik F. Gerding,
Inside Safe Assets,
Yale J. on Reg.
Available at: https://digitalcommons.law.yale.edu/yjreg/vol33/iss2/2