641 Monetary intermediation
This group includes the obtaining of funds in the form of transferable deposits, i.e. funds that are fixed in money terms, obtained on a day-to-day basis and, apart from central banking, obtained from non-financial sources.
Where 641 sits in the NIC 2008 hierarchy
- >K Financial and insurance activities
- >64 Financial service activities, except insurance and pension funding
- >>641 Monetary intermediation
- >>641 Monetary intermediation
Subcategories of 641 Monetary intermediation
- 6411Central banking
This class includes: - issuing and managing the country's currency - monitoring and control of the money supply - taking deposits that are used for clearance between financial institutions - supervising banking operations - holding the country's international reserves - acting as banker to the government The activities of central banks will vary for institutional reasons.
- 6419Other 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, such as: - banks - savings banks - credit unions This class excludes: - credit granting for house purchase by specialised non-depository institutions, see 64.92 - credit card transaction processing and settlement activities, see 66.19
Other NIC 2008 codes under 641 Monetary intermediation
Frequently asked questions
- What is NIC 2008 641?
- NIC 2008 641 is "Monetary intermediation". This group includes the obtaining of funds in the form of transferable deposits, i.e. funds that are fixed in money terms, obtained on a day-to-day basis and, apart from central banking, obtained from non-financial sources.
- What does NIC 2008 641 include?
- 641 Monetary intermediation contains 2 direct subcategories: 6411 Central banking; 6419 Other monetary intermediation.
- What is the parent category of 641?
- 641 Monetary intermediation sits under 641 Monetary intermediation in the NIC 2008 hierarchy.
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