Financial auxiliaries

Definition

Subsector of the economy formed by institutions and financial quasi-corporations that are primarily engaged in activities closely related to financial intermediation, but do not form part of it, that is, they do not take own positions.

Further information

Financial auxiliaries act on behalf of other units and do not take positions on their own account as a result of the intermediation services they provide.

It includes, among others:

securities brokers
mutual guarantee companies
appraisal companies
management companies (of investment funds, closed-end investment entities, financial vehicle corporations, and pension funds)
operators of organised markets
companies that perform market clearing and settlement functions
head offices of financial groups
deposit guarantee funds (until 2011).

Financial auxiliaries correspond to subsector S.126 of the economic sectorisation, according to the European System of Accounts 2010, and are part of the other non-monetary financial corporations aggregate (subsectors S.125, S.126, and S.127), within the financial institutions sector (sector S.12).

Sectorisation table (European System of Accounts 2010).