Definition
Institutional grouping that includes those financial institutions not considered money creators. Their main economic function is to channel or help channel funds from savings-holding entities to entities that need funds to invest, but which are not authorised to receive deposits or do not receive close substitutes for deposits.
Further information
Non-Monetary Financial Institutions (Non-MFIs) are financial entities that are not allowed to receive deposits and, therefore, do not have the ability to create money.
The non-MFI sector includes a range of institutions:
- investment funds (excluding Money Market Founds)
- insurance corporations
- pension funds
- other financial intermediaries
- financial auxiliaries
- captive financial institutions and money lenders.
Related concepts
- Financial auxiliaries
- Insurance companies
- Non-MMF investment funds
- Pension funds
- Money market funds (MMF)
- Financial institutions
- Captive financial institutions and money lenders
- Other Monetary Financial Institutions
- Other financial intermediaries
- Deposit institutions
Links to data tables
Update date: May 2025
