Division 1 For each Member State whose currency is the euro (hereinafter a ‘euro area Member State’), the reporting population consists of MFIs included in the list of MFIs for statistical purposes and resident in the territory of the euro area Member States. These are:

United Kingdom

(a)

institutions incorporated and located in that territory, including subsidiaries^f2 of parent companies located outside that territory; and
(b)

branches of institutions that have their head office outside that territory.

Institutions located in offshore financial centres are treated statistically as residents of the territories in which the centres are located.

Annotations

f1: In the tables of this Annex, the ECB is classified as an MFI resident in the country where the ECB is physically located.
f2: Subsidiaries are separate incorporated entities in which another entity has a majority or full participation, whereas branches are unincorporated entities (without independent legal status) totally owned by the parent.