{
  "url": "https://openlegislation.uk/eu-regulation-2020-1197/annex-VI/section-2/division-II/division-2/division-7",
  "json_url": "https://openlegislation.uk/eu-regulation-2020-1197/annex-VI/section-2/division-II/division-2/division-7.json",
  "legislation": "eur/2020/1197",
  "legislation_title": "Commission Implementing Regulation (EU) 2020/1197 of 30 July 2020 laying down technical specifications and arrangements pursuant to Regulation (EU) 2019/2152 of the European Parliament and of the Council on European business statistics repealing 10 legal acts in the field of business statistics (Text with EEA relevance)",
  "legislation_url": "https://openlegislation.uk/eu-regulation-2020-1197",
  "path": "annex/VI/section/2/division/II/division/2/division/7",
  "kind": "division",
  "number": "7",
  "heading": "Financial services",
  "text": "Financial services covers financial intermediation and auxiliary services, except those of insurance enterprises and pension schemes. These services include those usually provided by banks and other financial intermediaries and auxiliaries. Included are services provided in connection with transactions in financial instruments, as well as other services related to financial activity, encompassing, inter alia, deposit taking and lending, letters of credit, credit card services, commissions and charges related to financial leasing, factoring, underwriting and clearing of payments. Also included are financial advisory services, custody of financial assets or bullion, financial asset management, monitoring services, convenience services, liquidity provision services, risk assumption services other than insurance, merger and acquisition services, credit rating services, stock exchange services and trust services.\nFinancial services may be charged for by: explicit charges; margins on buying and selling transactions; asset management costs deducted from property income receivable, in the case of asset-holding entities; or margins between the interest rate and the reference rate on loans and deposits (referred to as financial intermediation services indirectly measured (FISIM)).\nFor financial intermediaries, the balance between explicit and implicit charges may vary over time and from institution to institution; thus, data on both are needed to obtain a complete picture of their supply of services.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/eur/2020/1197/annex/VI/section/2/division/II/division/2/division/7",
    "retrieved_at": "2026-11-01T14:42:28.657754+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}