NIC 6422—Activities of financing conduits

Where 6422 sits

1. L Financial and insurance activities
2. 64 Financial service activities, except insurance and pension funding
3. 642 Activities of holding companies and financing conduits
4. 6422 Activities of financing conduits

Contains 3 narrower codes

• 642201 Activities of captive financial institutions involved in intragroup lending. Companies wholly owned subsidiary of the manufacturer that provides B2B and/or B2C financing to purchasing the parent companies' products and services
• 642202 Activities of Brass Plate Companies i.e., units that are owned (directly or indirectly) by a non-resident unit, of which large part of the balance sheet consists of claims and liabilities towards non-resident units, and that have few or no employees and little or no physical presence in the jurisdiction of incorporation
• 642299 Activities of other financing conduits n.e.c.

What 6422 includes

• This class includes the activities of financing conduits, i.e., units created by a financial or non-financial group to raise or borrow funds (often on the open market) and to remit those funds to their parent or another entity within the group.

What 6422 excludes

• Management services of public funds and public debt services, see 8411

6422 in other systems