The statistics compiled by the Banque de France in accordance with the harmonised ESCB standards place particular emphasis on monetary financial institutions (MFI). These institutions represent the money-issuing sector and include, for the euro area, the ECB, national central banks, credit institutions and all resident financial institutions of the euro area whose activity is to receive deposits and/or close substitutes for deposits from non-financial agents. In this respect, money market funds also come under MFIs. ;
Undertakings for Collective Investment in Transferable Securities (UCITS), more commonly referred to as mutual funds in Europe, issue shares that economic agents may subscribe to. They will then use the liquidity obtained from the sale of these shares to invest in other securities and funds.
In France, mutual funds are broken down into several categories.
Money-market funds offer cash-equivalent investments and are taken into account in the calculation of monetary aggregates. These funds are considered as monetary financial institutions (MFIs) for the production of monetary statistics.
Non-money market funds belong to the category "Other financial institutions".
The Banque de France is in charge of the statistical monitoring of all these institutions.
Updated on: 03/19/2019 16:53