SBI 64.22—Activities of financing conduits

Where 64.22 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

Contains 1 narrower code

• 64.22.0 Activities of financing conduits

What 64.22 includes

• This class 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 excludes

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

64.22 in other systems