Class K

CLASS Section – Division – Group

Monetary intermediation

Central banking

The activities of central banks will vary for institutional reasons.

Other monetary intermediation

This class includes the receiving of deposits and/or close substitutes for deposits and extending of credit or lending funds. The granting of credit can take a variety of forms, such as loans, mortgages, credit cards etc. These activities are generally carried out by monetary institutions other than central banks.

Activities of holding companies

This class includes the activities of holding companies, i.e. units that hold the assets (owning controlling-levels of equity) of a group of subsidiary corporations and whose principal activity is owning the group. The holding companies in this class do not provide any other service to the businesses in which the equity is held, i.e. they do not administer or manage other units.

Trusts, funds and similar financial entities

This class includes legal entities organised to pool securities or other financial assets, without managing, on behalf of shareholders or beneficiaries. The portfolios are customised to achieve specific investment characteristics, such as diversification, risk, rate of return and price volatility. These entities earn interest, dividends and other property income, but have little or no employment and no revenue from the sale of services.

Other financial service activities, except insurance and pension funding

Financial leasing

Other credit granting

Other financial service activities, except insurance and pension funding n.e.c.

This class includes: other financial service activities primarily concerned with distributing funds other than by making loans: factoring activities, writing of swaps, options and other hedging arrangements, activities of viatical settlement companies, own-account investment activities, such as by venture capital companies, investment clubs etc.

Insurance

Life insurance

Non-life insurance

Reinsurance

Pension funding

This class includes legal entities (i.e. funds, plans and/or programmes) organised to provide retirement income benefits exclusively for the sponsor s employees or members. This includes pension plans with defined benefits, as well as individual plans where benefits are simply defined through the member s contribution.

Activities auxiliary to financial services, except insurance and pension funding

Security and commodity contracts brokerage

Other activities auxiliary to financial services, except insurance and pension funding

This class includes activities auxiliary to financial service activities not elsewhere classified.

Activities auxiliary to insurance and pension funding

Risk and damage evaluation

This class includes the provision of administration services of insurance, such as assessing and settling insurance claims, such as:

Activities of insurance agents and brokers

This class includes the provision of administration services of insurance, such as assessing and settling insurance claims, such as:

Other activities auxiliary to insurance and pension funding

This class includes the provision of administration services of insurance, such as assessing and settling insurance claims.

Fund management activities

This class includes portfolio and fund management activities on a fee or contract basis, for individuals, businesses and others, such as: