Other financial corporations

27. February

January 2017

Assets of financial intermediaries amounted to 1,700 b.kr. at the end of January where domestic assets amounted to 1,500 b.kr. Deposits at the Central Bank amounted to 86 b.kr. and deposits in domestic deposit taking corporations amounted to 76 b.kr. Domestic loans and marketable securities amounted to 1,100 b.kr. at the end of January. Other financial corporations’ liabilities amounted to 1,500 b.kr. at the end of January where domestic securities issuance amounted to 1,200 b.kr. Equity stood at 192 b.kr. at the end of January.

In February 2017 numerous new financial companies were added to the data collection and at the same time the sectors name was changed from “Miscellaneous credit undertakings” to “Other financial corporations” to accord with classifications in international statistical standards. The objective is to increase the coverage and get a better overall picture of the sector. At the same time the time series were updated where the main changes are the following:

  • 4 financial corporations which were categorized as other financial intermediaries in winding-up proceedings are from December 2015 categorized as other financial corporations.
  • From January 2009 securities corporations and microcredit companies are added to the sector.
  • The sector now covers more government financial funds with data back to January 1999.

Statistics for other financial corporations are now publish according to new standards. Statistics for other financial corporations are based on International Monetary Fund (IMF) standards for monetary and financial statistics. The standards that have been in use in recent years, published as the Monetary and Financial Statistics Manual (MFSM), were originally issued in 2000 and then revised in 2008. The changes in the new IMF standards are based on the System of National Accounts 2008 (SNA2008) issued in 2009. The IMF’s updated MFSM is comparable to the SNA 2008 in most respects, although emphasis has been placed in recent years on harmonizing the terminology and classification systems used in international standards so as to facilitate comparison of the statistics. 

Supervisor: Statistics | fjarmalafyrirtaeki@sedlabanki.is