NIC 642—Activities of holding companies and financing conduits

Where 642 sits

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

Contains 2 narrower codes

• 6421 Activities of holding companies
• 6422 Activities of financing conduits

What 642 includes

• This group includes the activities of holding companies and financing conduits. These are corporate groups? Captive financial entities, i.e., units created by a financial or non-financial group to fulfil specific financial activities, whose main activity it is to own the group or to act as a vehicle to arrange and channel funds within the group, respectively.

What 642 excludes

• Captive factoring and invoicing companies, see 6494
• Own-account investment activities, such as by venture capital companies and private equity firms, see 6499
• Active management of companies and enterprises, strategic planning and decision making of the company, see 7010
• Other activities of corporate groups' captive financial entities, which will be captured under the relevant activity classes

642 in other systems