SBI 64.91—Financial leasing

Where 64.91 sits

1. L Financial and insurance activities
2. 64 Financial service activities, except insurance and pension funding
3. 64.9 Other financial service activities, except insurance and pension funding
4. 64.91 Financial leasing

Contains 1 narrower code

• 64.91.0 Financial leasing

What 64.91 includes

• This class includes financial lease, a contract under which the lender, as the legal owner of an asset, transfers the risks and benefits of owning the asset to the borrower. Under a financial lease, the lender is deemed to provide the borrower with a loan through which the borrower acquires all the economic benefits and risks of the lease. The leased asset is subsequently recorded on the borrower's balance sheet, not on that of the lender; the associated loan is presented as an asset of the lender and a liability of the borrower.
• Financial lease of durable goods, e.g. vehicles.

What 64.91 excludes

• Operational leasing, based on the type of goods being leased, division 77

64.91 in other systems