Lists of financial institutions (2024)

The ECB maintains lists of the following groups of institutions, based on information provided regularly by all members of the European System of Central Banks (ESCB).

  • Monetary financial institutions (MFIs)
  • Investment funds (IFs)
  • Financial vehicle corporations (FVCs)
  • Payment statistics relevant institutions (PSRIs)
  • Insurance corporations (ICs)
  • Pension funds (PFs)

For further information, check our Frequently asked questions.

Monetary financial institutions (MFIs)

In order for it to have a comprehensive picture of monetary developments, the ECB collects statistical information from MFIs – the “money-issuing sector”. MFIs, as defined by the ECB in Regulation ECB/2021/2, comprise the following statistical sectors

  • central banks (S121), i.e. the national central banks of the EU Member States and the European Central Bank;
  • deposit-taking corporations except central banks (S122), which are:
    1. credit institutions, as defined in Article 4(1)(1) of Regulation (EU) No 575/2013, the business of which is to take deposits or other repayable funds from the public and to grant credits for their own account;
    2. financial intermediaries other than credit institutions whose business is to receive deposits and/or close substitutes for deposits from institutional units (including from non-MFIs) and to grant loans and/or make investments in securities on their own account;
    3. electronic money institutions, as defined in Article 2(1) of Directive 2009/110/EC, that are principally engaged in financial intermediation in the form of issuing electronic money;
  • money market funds (S123), i.e. collective investment undertakings that have been authorised pursuant to Article 4 of Regulation (EU) 2017/1131 and that issue shares or units which are close substitutes for deposits.

MFIs do not include “non-MFI credit institutions”, which are credit institutions that are investment firms and that only conduct the business referred to in Article 4(1)(1)(b) of Regulation (EU) No 575/2013. These are instead classified in the sector “Other financial intermediaries, except insurance corporations and pension funds” (S125).

In accordance with Regulation ECB/2021/2, the ECB maintains and regularly updates a list of MFIs. This list:

  • facilitates the monitoring and production of a comprehensive and consistent balance sheet of the money-creating sector in the euro area on the basis of an MFI population corresponding to sectors S121, S122 and S123 of the European System of Accounts 2010 (ESA 2010);
  • ensures that the statistical reporting population is complete and homogeneous;
  • supports the production of comprehensive and consistent lists of credit institutions subject to the Eurosystem’s minimum reserve requirements and counterparties eligible for Eurosystem operations.

The ECB releases updated information on the list of MFIs on a daily basis. Downloads are available as tab-delimited CSV files. Alternatively, user-defined queries can be performed directly via the MFI data access facility.

The latest data are available via the ECB Data Portal

In addition the following material is refreshed on a monthly basis:

  • Number of monetary financial institutions in the euro area
  • Number of monetary financial institutions in non-euro area EU countries
  • Number of MFIs and changes (joiners and leavers) in the MFI sector since the previous month last update: 09 January 2024

Archived MFI publications

Investment funds (IFs)

"Investment funds" (IFs) are collective investment undertakings that: i) invest in financial and non-financial assets, within the meaning of the European system of national and regional accounts in the Community (ESA 95), to the extent that the objective is to invest capital raised from the public; and ii) are set up under Community or national law.

Included within the definition of IFs are: undertakings whose units or shares are, at the request of the holders, repurchased or redeemed directly or indirectly out of the undertaking’s assets; and undertakings which have a fixed number of issued shares and whose shareholders have to buy or sell existing shares when entering or leaving the fund.

Not included in the definition of IFs are pension funds and money market funds (which come under the MFIs).

Information on IFs is collected:

  • to provide the ECB with a comprehensive statistical picture of the financial activities of the IF sub-sector; and
  • to ensure that the statistical reporting population on IFs is complete and homogeneous.

The legal framework for IFs is set out in Regulation (EU) No 1073/2013 of the European Central Bank of 18 October 2013 concerning statistics on the assets and liabilities of investment funds (ECB/2013/38).

The ECB releases a quarterly update on the list of IFs (nine weeks after the end of the quarter to which the list refers) and also revised lists for three reference periods preceding the latest release.

  • Overview of the total number of IFs, including historical data (broken down by country and investment policy) last update: 08 December 2023
  • Definitions of attributes on the IFs list last update: 13 March 2023

Published details regarding the list of IFs, including historical data:

  • IFs Overview 2019-2023 last update: 08 December 2023
  • IFs Overview 2014-2018 last update: 18 June 2020
  • IFs Overview 2009-2013 last update: 18 June 2020

Financial vehicle corporations (FVCs)

"Financial vehicle corporations" (FVCs) are undertakings set up under national or Community law which primarily:

  • to carry out securitisation transactions and which are insulated from the risk of bankruptcy or any other default of the originator; and which
  • issue securities, securitisation fund units, other debt instruments and/or financial derivatives and/or legally or economically own assets underlying the issue of securities, securitisation fund units, other debt instruments and/or financial derivatives that are offered for sale to the public or sold on the basis of private placements.

Neither MFIs (see first tab above) nor IFs (see second tab above) are included in the definition of FVCs.

"Securitisation" means a transaction or scheme whereby: i) an asset or pool of assets is transferred to an entity that is separate from the originator and is created for or serves the purpose of the securitisation; and/or ii) the credit risk of an asset or pool of assets, or part thereof, is transferred to those who invest in the securities, securitisation fund units, other debt instruments and/or financial derivatives issued by an entity that is separate from the originator and is created for or serves the purpose of the securitisation.

Information on FVCs is collected:

  • to provide the ECB with a comprehensive statistical picture of the financial activities of the FVC sub-sector; and
  • to ensure that the statistical reporting population on FVCs is complete and homogeneous.

The legal framework for FVCs is set out in Regulation (EU) No 1075/2013 of the European Central Bank of 18 October 2013 concerning statistics on the assets and liabilities of financial vehicle corporations engaged in securitisation transactions (ECB/2013/40).

The ECB releases a quarterly update on the list of FVCs (three weeks after the end of the quarter to which the list refers) and also revised lists for three reference periods preceding the latest release.

  • Overview of the total number of FVCs, including historical data (broken down by country and nature of securitisation) last update: 25 January 2024
  • Definitions of attributes on the FVCs list last update: 05 October 2018

Published details regarding the list of FVCs, including historical data:

  • FVCs Overview 2019-2023 last update: 25 January 2024
  • FVCs Overview 2014-2018 last update: 18 June 2020
  • FVCs Overview 2009-2013 last update: 18 June 2020

Payment statistics relevant institutions (PSRIs)

“Payment statistics relevant institutions” (PSRIs) are payment service providers (including electronic money issuers) and payment system operators. PSRIs offer payment services and/or are entitled to do so. They can be classified in different institutional sectors.

Payment service providers include the following entities:

  • credit institutions meaning undertakings whose business is to receive deposits or other repayable funds from the public and to grant credits for their own account;
  • electronic money institutions meaning legal persons authorised to issue electronic money, i.e. electronically, including magnetically, stored monetary value issued on receipt of funds and which can be used to make payments;
  • post office giro institutions which are entitled under national law to provide payment services;
  • the European Central Bank and national central banks (NCBs) when not acting in their capacity as monetary authority or other public authorities;
  • Member States or their regional or local authorities when not acting in their capacity as public authorities;
  • payment institutions meaning legal persons other than those listed above authorised to provide and execute payment services throughout the EU.

Payment system operators are entities that are legally responsible for operating a payment system.

The ECB maintains and updates the list of PSRIs every year. The list also includes information on entities that have been granted a derogation by an NCB with regard to the payments statistics reporting requirements.

  • Overview of the total number of PSRIs, including historical data (broken down by country and type of economic activity) last update: 01 September 2023
  • Published details regarding the list of PSRIs, including historical data last update: 01 September 2023
  • Definitions of attributes on the PSRIs list last update: 09 March 2023
  • Definitions of attributes on the PSRIs list (valid until 2016Q4) last update: 05 October 2018

In compliance with its legal obligations, the ECB publishes these reference data on a regular basis, provided that the information is not confidential.

Insurance corporations (ICs)

“Insurance corporations” (ICs) are financial corporations or quasi-corporations that are principally engaged in financial intermediation as a consequence of the pooling of risks, mainly in the form of direct insurance or reinsurance.

Insurance corporations include financial corporations or quasi-corporations that provide:

  • life insurance services, where policyholders make regular or one-off payments to the insurer in return for which the insurer guarantees to give policyholders an agreed sum, or an annuity, at a given date or earlier;
  • non-life insurance services to cover, for example, risks of accidents, sickness, fire or credit default;
  • reinsurance services, where insurance is bought by the insurer to protect itself against an unexpectedly high number of claims or exceptionally large claims.

Information on ICs is collected:

  • to provide the ECB with a comprehensive statistical picture of the financial activities of the IC sub-sector;
  • to ensure that the reporting population of IC statistics is complete and homogeneous;
  • to ensure the production of a comprehensive and consistent list of counterparties eligible for Eurosystem operations.

The legal framework for ICs is set out in Regulation (EU) No 1374/2014 of the European Central Bank of 28 November 2014 on statistical reporting requirements for insurance corporations.

  • Overview of the total number of ICs, including historical data (broken down by country and type of economic activity) last update: 07 December 2023
  • Published details regarding the list of ICs, including historical data last update: 07 December 2023
  • Definitions of attributes on the list of ICs last update: 05 October 2018

Pension funds (PFs)

"Pension funds" (PFs) are financial intermediaries which offer social insurance by providing income to the insured persons following their retirement. They also often provide death and disability benefits. Pension schemes are important cornerstones of European households’ income during retirement. Pension funds also play a role in financial markets as institutional investors. For these reasons, the ECB collects statistics on the balance sheets of pension funds for its analyses of the financial system and household wealth.

Information on PFs is collected:

  • to provide the ECB with a comprehensive statistical picture of the financial activities of the PF sector;
  • to ensure that the reporting population of PF statistics is complete and homogeneous;
  • to produce a comprehensive and consistent list of counterparties eligible for Eurosystem operations.

The legal framework for PFs is set out in Regulation (EU) No 2018/231 of the European Central Bank of 26 January 2018 on statistical reporting requirements for pension funds (ECB/2018/2) (“the Regulation”).

In compliance with Article 3 of the Regulation, the ECB publishes and maintains, for statistical purposes, the following list of PFs and pension managers that are part of the actual reporting population subject to the Regulation. The list may include information on entities that have been granted a derogation by an NCB in accordance with Article 7 of the Regulation.

An analysis of the initial PF data was published on the Economic bulletin.

  • Overview of the total number of PFs, including historical data (broken down by country and type of scheme) last update: 09 January 2024
  • Published details regarding the list of PFs, including historical data last update: 09 January 2024
  • Definitions of attributes on the list of PFs last update: 11 February 2021

More information on pension funds.

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I'm an expert in financial institutions and statistics, having extensive knowledge of the European Central Bank (ECB) and its various regulatory frameworks. I've closely followed the ECB's maintenance of lists for different groups of institutions within the European System of Central Banks (ESCB). Let's delve into the details of the concepts used in the provided article:

  1. Monetary Financial Institutions (MFIs):

    • MFIs, as defined by the ECB in Regulation ECB/2021/2, include central banks, deposit-taking corporations, electronic money institutions, and money market funds.
    • The purpose of collecting statistical information from MFIs is to have a comprehensive picture of monetary developments.
  2. Investment Funds (IFs):

    • IFs are collective investment undertakings that invest in financial and non-financial assets.
    • They issue shares or units and may repurchase or redeem them at the request of the holders.
    • Excluded from the definition of IFs are pension funds and money market funds.
    • The legal framework for IFs is outlined in Regulation (EU) No 1073/2013.
  3. Financial Vehicle Corporations (FVCs):

    • FVCs are undertakings set up under national or Community law primarily for securitization transactions.
    • They issue securities, securitization fund units, and other financial instruments.
    • FVCs are insulated from the risk of bankruptcy or default of the originator.
    • The legal framework for FVCs is defined in Regulation (EU) No 1075/2013.
  4. Payment Statistics Relevant Institutions (PSRIs):

    • PSRIs include payment service providers and payment system operators.
    • Payment service providers encompass credit institutions, electronic money institutions, post office giro institutions, and others.
    • Payment system operators are entities legally responsible for operating a payment system.
  5. Insurance Corporations (ICs):

    • ICs are financial corporations engaged in financial intermediation through the pooling of risks, offering life and non-life insurance services, and reinsurance.
    • The legal framework for ICs is provided in Regulation (EU) No 1374/2014.
  6. Pension Funds (PFs):

    • PFs are financial intermediaries providing social insurance through income provision during retirement and offering death and disability benefits.
    • PF statistics are collected to ensure a comprehensive and consistent list of counterparties eligible for Eurosystem operations.
    • The legal framework for PFs is outlined in Regulation (EU) No 2018/231.

The ECB maintains and regularly updates lists for each of these institutions, facilitating comprehensive statistical reporting, ensuring completeness and homogeneity, and supporting various aspects of the Eurosystem's operations. The ECB publishes updated information on these institutions regularly, including historical data and overviews. This meticulous approach ensures transparency and reliability in the financial data landscape.

Lists of financial institutions (2024)
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