Canadian Classification of Institutional Units and Sectors (CCIUS) 2012

• S1 - Total economy

S12 - Financial corporations

This sector consists of all resident corporations that are principally engaged in providing financial services, including insurance and pension funding services to other institutional units. It is composed of the following set of resident institutional units:
a. All resident financial corporations (as understood in the SNA and not just restricted to legally constituted corporations), regardless of the residence of their shareholders;
b. The branches of non-resident enterprises that are engaged in financial activity on the economic territory on a long-term basis;
c. All resident non-profit institutions (NPIs) that are market producers of financial services.
The production of financial services is the result of financial intermediation, financial risk management, liquidity transformation or auxiliary financial activities. Because the provision of financial services is typically subject to strict regulation, it is usually the case that units providing financial services do not produce other goods and services and financial services are not provided as secondary production. As a result, producers of financial services are classified only to the financial sector.