NAICS Canada 521—Monetary authorities - central bank
Subsector · North American Industry Classification System (Canada) (2022 v1.0)
Where 521 sits
- 52 Finance and insurance
- 521 Monetary authorities - central bank
Contains 1 narrower code
Description
This subsector comprises establishments primarily engaged in performing central banking functions, such as issuing currency (paper money); managing the nation's money supply and international reserves; overseeing payment, clearing and settlement systems; holding deposits that represent the reserves of other banks and institutions; and acting as fiscal agent for the federal government.
The institutional arrangements for performing these functions and for conducting monetary policy may differ among the countries. In Canada, these functions are performed by the Bank of Canada, in Mexico by the Bank of Mexico, and in the United States by the Federal Reserve Banks and their branches.