Variant of NAICS 1997 - Labour Force Survey (LFS) Industries

7 - Services-Producing Sector

10 - Finance, Insurance, Real Estate and Leasing

52 - Finance and Insurance

This sector comprises establishments primarily engaged in financial transactions (that is, transactions involving the creation, liquidation, or change in ownership of financial assets) or in facilitating financial transactions. Included are:

* establishments that are primarily engaged in financial intermediation. They raise funds by taking deposits and/or issuing securities, and, in the process, incur liabilities, which they use to acquire financial assets by making loans and/or purchasing securities. Putting themselves at risk, they channel funds from lenders to borrowers and transform or repackage the funds with respect to maturity, scale and risk.

* establishments that are primarily engaged in the pooling of risk by underwriting annuities and insurance. They collect fees (insurance premiums or annuity considerations), build up reserves, invest those reserves and make contractual payments. Fees are based on the expected incidence of the insured risk and the expected return on investment.

* establishments that are primarily engaged in providing specialized services that facilitate or support financial intermediation, insurance and employee benefit programs.

In addition, establishments charged with monetary control - the monetary authorities - are included in this sector.

522 - Credit Intermediation and Related Activities

This subsector comprises establishments primarily engaged in lending funds raised from depositors or by issuing debt, and establishments that facilitate the lending of funds or issuance of credit by engaging in such activities as mortgage and loan brokerage, clearinghouse and reserve services, and cheque-cashing services.

5221 - Depository Credit Intermediation

This industry group comprises establishments primarily engaged in accepting deposits and lending funds. Deposits are the principal source of funds loaned.

52211 - Banking

This industry comprises establishments primarily engaged in accepting deposits and issuing loans. Examples of establishments in this industry are establishments of chartered banks, trust companies and deposit-accepting mortgage companies that are primarily engaged in accepting deposits and issuing loans.

• Exclusion(s):

  • local credit unions (See 52213 Local Credit Unions)
  • provincial government savings establishments that channel deposits received to the government rather than lending them to customers (See 52219 Other Depository Credit Intermediation)

• and

  establishments primarily engaged in:

  • investment banking (See 52311 Investment Banking and Securities Dealing)
  • buying and selling securities for others on a commission basis (See 52312 Securities Brokerage)
  • underwriting insurance (See 5241 Insurance Carriers)

522111 - Personal and Commercial Banking Industry

This Canadian industry comprises establishments primarily engaged in accepting deposits from, and issuing loans to, persons or small- and medium-sized businesses. Establishments of chartered banks, trust companies and deposit-accepting mortgage companies that are primarily engaged in these activities are included.

• Exclusion(s):

  • local credit unions (See 522130 Local Credit Unions)
  • provincial government savings establishments that channel deposits to the government rather than lending them to customers (See 522190 Other Depository Credit Intermediation)

• Example Activities:

  • Bank branches, chartered, providing personal and commercial banking services
  • Deposit-accepting mortgage companies (except co-operative)
  • Establishments of chartered banks providing personal and commercial banking services
  • Establishments of trust companies providing personal and commercial banking services
  • Trust company branches, chartered, providing personal and commercial banking services

522112 - Corporate and Institutional Banking Industry

This Canadian industry comprises establishments primarily engaged in issuing loans to large businesses, governments or other large institutional clients, using funds primarily obtained from related personal and commercial banking establishments. Corporate and institutional banking establishments provide deposit and other services to their clients. Establishments of chartered banks that are primarily engaged in issuing loans to the above-mentioned clients are included.

• Exclusion(s):

  Establishments primarily engaged in:

  • investment banking (See 523110 Investment Banking and Securities Dealing)

• Example Activities:

  • Bank branches, chartered, providing corporate and institutional banking services
  • Corporate and institutional banking services
  • Trust company branches, chartered, providing corporate and institutional banking services