[OPE] Bezemer articles

From: Jurriaan Bendien <adsl675281@telfort.nl>
Date: Sun Nov 08 2009 - 05:31:51 EST

To the extent that the financial sector buys, borrows, lends or sells assets
in order to obtain income from that, it does "channel" capital across the
whole economy and in fact in doing so participates in the organization of
production. Part of the surplus produced by production activities is
realized only within the financial sector. But what is the financial sector?
According to SNA 2008, it includes the following 38 institutional units:

1 - The national central bank,
2 - Currency boards or independent currency authorities
3 - Central monetary agencies of essentially public origin
4 - Supervisory authorities of financial intermediaries
5 - Commercial banks, "universal" banks, "all-purpose" banks
6 - Savings banks
7 - Post office giro institutions, post banks, giro banks
8 - Agricultural and rural credit banks
9 - Co-operative credit banks, credit unions
10 - Specialized banks or other deposit-taking financial corporations
11 - Money market funds issuing shares or units to the public
12 - Non-MMF investment funds issuing shares or units to the public
13 - Financial corporations engaged in the securitization of assets
14 - Security and derivative dealers on own account
15 - Financial corporations engaged in lending
16 - Central clearing counterparties provifing clearing and settlement
transactions in securities and derivatives.
17 - Specialized financial corporations that provide short-term financing
for corporate mergers and takeovers, export/import finance, factoring
18 - Venture capital and development capital firms.
19 - Insurance brokers, salvage and claims adjusters
20 - Insurance and pension consultancy firms
21 - Loan brokers, securities brokers, investment advisers, etc.
22 - Flotation corporations that manage the issue of securities
23 - Corporations whose principal function is to guarantee credit, by
endorsement, bills and similar instruments
24 - Corporations that arrange derivative and hedging instruments, such as
swaps, options and futures
25 - Corporations providing infrastructure for financial markets
26 - Managers of pension funds, mutual funds, etc.
27 - Corporations providing stock exchange and insurance exchange
28 - Foreign exchange bureau's
29 - Non-profit institutions recognized as independent legal entities
serving financial corporations
30 - Head offices of financial corporations
31 - trusts, estates, agencies accounts, shelf companies or brass plate
32 - Holding corporations
33 - Special purpose entities or conduits that raise funds in open markets
to be used by their parent corporation
34 - Moneylenders
35 - Corporations engaged in lending (for example providing student loans,
import/export loans) from funds received from a sponsor such as a government
unit or non-profit institution
36 - Pawnshops that predominantly engage in lending
37 - Insurance corporations
38 - Pension funds

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Received on Sun Nov 8 05:37:09 2009

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