|Number of expert comments for selected issue:||1|
| Date posted||Source||Comment|
| 11/08/2004||Fadhil Mahdi (ESCWA)||The main recommendation related to his issue, raised by the OECD task force and submitted to the AEG, tackled redefining the non-insurance financial corporations seems relevant where the “financial intermediation" term was replaced by the "financial services", in addition, it enhanced the 1993 SNA definition to include "risk management", liquidity transformation" and/or "auxiliary financial activities” that lead to the production of the non-insurance financial services.
The AEG also proposed to consider this definition standing for all financial corporations including insurance corporations. In the meantime the AEG recommended to consider "own funds" to be included as a source of funds for the provision of financial services and is also considering “money lenders" providing such financial services as financial entities.
As for measuring financial services and its implications for the SNA, it has not been finalized yet and it is expected to clarify this part of the issue later by the end of 2004. |