MSIC 6422—Activities of financing conduits

Where 6422 sits

1. L Financial and Insurance/Takaful Activities
2. 64 Financial service activities, except insurance and pension funding
3. 642 Activities of holding companies and financing conduits
4. 6422 Activities of financing conduits

Contains 1 narrower code

• 64220 Activities of financing conduits

What 6422 includes

• The activities of financing conduits, i.e., units created by a financial or non-financial group to raise or borrow funds (often on the open market) and to remit those funds to their parent or another entity within the group
• Activities of captive financial institutions involved in intragroup lending
• Brass plate companies engaged in raising funds and remit those funds to their parent, i.e., units that are owned (directly or indirectly) by a non-resident unit, of which large part of the balance sheet consists of claims and liabilities towards non-resident units, and that have few or no employees and little or no physical presence in the jurisdiction of incorporation

What 6422 excludes

• Management services of public funds and public debt services, see 84111

6422 in other systems