Definition: Financial intermediary

SNA

Financial intermediaries are institutional units that incur liabilities on their own account for the purpose of acquiring financial assets by engaging in financial transactions on the market. They include insurance corporations and pension funds (SNA 2008, § 4.101).

Financial intermediaries are units that incur liabilities on their own account on financial markets by borrowing funds, which they lend on different terms and conditions to other institutional units (SNA 1993, § 6.121).
Source:
European Commission (Eurostat), International Monetary Fund (IMF), Organisation for Economic Co-operation and Development (OECD), United Nations (Statistics Division), World Bank, "System of National Accounts 2008", United Nations, New York, 2009
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