PKD 64.91.Z—Financial leasing

Where 64.91.Z sits

1. L Financial and Insurance Activities
2. 64 Financial service activities, excluding insurance and pension funds
3. 64.9 Other financial service activities, excluding insurance and pension funding
4. 64.91 Financial leasing
5. 64.91.Z Financial leasing

What 64.91.Z includes

• Finance leasing activities, an arrangement whereby the lessor, as the legal owner of the asset, transfers the risks and rewards of ownership to the lessee. Under finance leasing, the lessor is deemed to make a loan to the lessee, with the lessee acquiring all the economic benefits and risks associated with the lease. The leased asset is then recorded on the lessee's balance sheet, not the lessor's; the corresponding loan is recorded as an asset of the lessor and a liability of the lessee.
• Finance leasing of durable goods (e.g., vehicles).

What 64.91.Z excludes

• Operating leasing, depending on the type of goods leased, classified in the appropriate subclasses of division 77.

64.91.Z in other systems