Explanatory Note
Title: Financing conduits activities
It comprises the activities of financing channels (financing conduits), that is, units
created by financial or non-financial groups to obtain or borrow funds
(often on the open market) and remit those funds to its parent company or other
group entity.
Includes activities of captive financial institutions involved in
granting of intra-group loans, brass plate companies that are
dedicated to raising funds and sending those funds to their parent company, i.e.
units that are held (directly or indirectly) by a non-resident unit and whose
balance sheet is largely made up of credits and liabilities towards units
non-residents and who have few or no employees and little or no physical presence
in the jurisdiction of incorporation.
Does not include:
Public funds and public debt management services (8411);