The decision to include these activities in Annex 1 is based on the results of pilot actions on other financial intermediation , pension funds and financial auxiliaries .

( 2 ) Financial intermediation services indirectly measured .

There is also an intermediation problem.

4 This model includes an explicit banking sector that provides intermediation services between borrowers and lenders , and generates a nontrivial role for monetary aggregates in the economy .

In some Member States some efforts to compile statistics on other financial intermediation and financial auxiliaries will be necessary .

( ii ) a narrowing of interest rate margins

In some Member States , some efforts to compile statistics on other financial intermediation and financial auxiliaries will be necessary .

The collection and compilation of statistics on annex 1 variables for other financial intermediation activities and financial auxiliaries may result in additional costs .

Financial auxiliaries which are engaged in activities closely related to financial intermediation but not financial intermediation itself are also included ( 11 ) .

Although the stock of credit remains low in most acceding countries , and much of it is secured by mortgages , the rapid deepening of financial intermediation and the expansion of financial sector balance sheets may entail higher volatility in financial performance both in individual financial institutions and the sector as a whole .

( Closed funds ) Decreto legislativo Testo unico delle disposizioni in materia di intermediazione finanziaria

Information on other financial intermediaries and financial auxiliaries will be useful for compilers of national accounts and related statistics .

Developments in Community monetary , economic and social integration require the extension of the aforesaid framework to credit institutions , pension funds , other financial intermediation and activities auxiliary to financial intermediation

Firstly , it is important to collect data on OFIs in order to monitor their role in financial intermediation outside the monetary and financial institutions ( MFIs ) sector .

Moreover , it will extend the coverage of the horizontal module ( Annex 1 ) to the following activities that are not yet included other financial intermediation services , pension funds and financial auxiliaries .

( enterprises ) or send reduced questionnaires ( in particular , on other financial intermediation , financial auxiliaries and environment ) .

The economic effects will be indirect in so far as it is expected that the Regulation will improve the quality and the availability of statistics on credit institutions , pension funds , other financial intermediation , financial auxiliaries and environment at Community level .

Worse, restricting commercial banks role as financial intermediaries and encouraging the growth of unregulated shadow banking has generated even more risks for China s economy.

4.1 DESCRIPTION OF OPERATION General objective This Council Regulation aims to make available harmonised statistical information on credit institutions , pension funds , other financial intermediation , financial auxiliaries and environment .

With respect to other financial intermediation ( NACE Rev. 1 group 65.2 ) and financial auxiliaries ( NACE Rev. 1 division 67 ) , only a limited number of main variables must be compiled .

It extends Annex 1 of the SBS Regulation to other financial intermediation and financial auxiliaries and it adds two characteristics on environmental expenditures to Annex 2 ( on industry ) .

The sale of statistics on credit institutions , pension funds , other financial intermediation and financial auxiliaries ( publications , databases etc .) will lead to some revenue , which is estimated about 50.000 Euro per year .

23 financial intermediation , financial auxiliaries and environment that is comparable among Member States .

In particular , severe disruptions in the financial intermediation process are more likely to have macroeconomic repercussions .

In a few Member States , where some of the other financial intermediation activities and financial auxiliaries are not supervised , the collection of additional data could cause extra burden on certain categories of financial services enterprises concerned .

The development and operation of the internal market increase the need for information measuring its effectiveness , in particular in the sectors of credit institutions , pension funds , other financial intermediation and activities auxiliary to financial intermediation The liberalisation process of international trade in financial services necessitates business statistics in the financial services area to support the trade negotiations

Instead, they should establish intermediation channels for long term financing.

Too many people are working in traditional, low productivity service industries, such as wholesale, retail trade, and restaurants, leaving modern, high productivity services like communications, health, financial intermediation, and business services underdeveloped.

Yet reserve requirements are a rather crude monetary policy tool and thus entail costs to the efficiency of financial intermediation .

While financial markets in the acceding countries are largely dominated by the banking sector , the degree of financial intermediation ( the role of banks as intermediaries in channelling funds from depositors to borrowers ) is still rather low .

In Member States where there is currently a lack of information on other financial intermediation services , financial auxiliaries and environmental expenditures , the national data providers may choose the manner in which they will collect and compile the statistics .

include the activities of other financial intermediation and financial auxiliaries in the scope of Annex 1 of the SBS Regulation in order to analyse the ( 2 )

Financial corporations and quasi corporations principally engaged in financial intermediation as the consequence of the pooling of risks ( the ESA 95 , paragraphs 2.60 2.67 )

As the catching up process to higher income levels proceeds , the main challenge for policymakers will be to manage the deepening of financial intermediation and a dynamic expansion of financial institutions activities without risking the stability of the sector or the economy as a whole .

Yet private sector investment today depends on investment by the public sector.

Insurance corporations and pension funds Financial corporations and quasi corporations principally engaged in financial intermediation as the consequence of the pooling of risks ( the ESA95 , paragraphs 2.60 to 2.67 )

In most acceding countries financial intermediation has grown substantially in recent years , albeit starting from a very low base .

Balance sheet counterparty sector

The size of these systems has doubled in several countries and their efficiency in intermediating funds has increased significantly .

Infrastructure is another obvious place to expand private sector involvement.

Public sector Private sector ( 4 )

EU banking sector stability

EU Banking Sector Stability

This happens in the infotmatics, telecommunications and electronics sectots but not in the pharmaceutical sectot.

Sector Size