Monetary financial institutions
"Monetary financial institutions" (MFIs) are central banks, resident credit institutions as defined in Community law, and other resident financial institutions whose business is to receive deposits and/or close substitutes for deposits from entities other than MFIs and, for their own account (at least in economic terms), to grant credits and/or make investments in securities. Money market funds are also classified as MFIs.
For further details on definitions, please refer to the Explanatory notes on statistics on the Monetary financial institutions sector
The purpose of collecting information on MFIs is the following:
- to facilitate the monitoring and production of a comprehensive and consistent balance sheet of the money-creating sector in the single currency area on the basis of an MFI population corresponding to sectors S121 and S122 of the European System of Accounts 1995 (ESA 95);
- to ensure that the statistical reporting population is complete and homogeneous;
- to provide for the production of a comprehensive and consistent list of MFIs subject to – or exempt from – the Eurosystem's minimum reserve requirements;
- to ensure the production of a comprehensive and consistent list of counterparties eligible for Eurosystem operations.
The legal framework for MFIs is set out in the Regulation (EC) No. 25/2009 of the European Central Bank of 19 December 2008 concerning the balance sheet of the monetary financial institutions sector (ECB/2008/32). For the legal framework see the direct link on the right-hand side.
From 28 April 2006 onwards, the ECB releases daily updated information on the list of monetary financial institutions.
Updates to the list of monetary financial institutions subject to minimum reserves continue to be published at monthly frequency.