SBI 64.22.0—Activities of financing conduits

Where 64.22.0 sits

1. L Financial and insurance activities
2. 64 Financial service activities, except insurance and pension funding
3. 64.2 Activities of holding companies and financing conduits
4. 64.22 Activities of financing conduits
5. 64.22.0 Activities of financing conduits

What 64.22.0 includes

• This subclass comprises financing channels, i.e. entities established by a financial or non-financial group to raise or borrow money (often in the open market) and transfer it to the parent company or another entity within the group.
• Activities of financial institutions within a group that are involved in intercompany lending
• Shell companies engaged in raising money and transferring these funds to their parent company, i.e. entities that are (directly or indirectly) owned by a non-resident entity, the majority of whose balance sheet consists of receivables and payables to non-resident entities and which have few or no employees and have little or no presence in the jurisdiction in which they are established.

What 64.22.0 excludes

• Management services relating to public funds and government debt, 8411

64.22.0 in other systems