Financial institution, monetary financial institution (MFI)

a credit institution or other entity whose business is to receive deposits from, make loans to and/or invest in securities of other entities. – Whether a financial institution other than a credit institution is an MFI depends on the degree of substitution between the financial instruments issued and bank deposits. The closeness of the substitution relationship is determined by the liquidity of these instruments, which is measured in particular on the basis of the characteristics – transferability, – convertibility, – security and – marketability. – In the ECB’s statistics, the MFI sector also includes the national central banks and the ECB itself. – The MFIs located in the euro area are defined as the “money creation sector” of the euro area. Their finely disaggregated consolidated balance sheet, broken down by month, can be found in the annex “Euro area statistics” of the respective ECB Monthly Bulletin; in the respective Deutsche Bundesbank Monthly Bulletin, the German contribution to the individual items is shown in the “Statistical Section.” – See aggregates, monetary, bank, financial services, money creation sector, institution, credit bank, credit institution. – See ECB Monthly Bulletin of February 1999, p. 31; ECB Monthly Bulletin of April 1999, p. 47; ECB Monthly Bulletin of September 2003, p. 9 ff; ECB Monthly Bulletin of January 2012, p. 64 ff (detailed and explanatory definition); Deutsche Bundesbank Monthly Bulletin of July 2013, p. 58 f. (consolidated balance sheet of the euro area MFI sector). – A full list of MFIs is available on the ECB’s website.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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