Concept variable

Financial Intermediation Services Indirectly Measured (FISIM)

  Norwegian (bokmål)
Name Financial Intermediation Services Indirectly Measured (FISIM)
Definition Financial corporations provide services by charging or by not charging explicitly through specific fees or commissions. These financial institutions may instead have incomes from net receipts of interest, i.e. margin of interest. That means the financial institutions pay lower rates of interest on deposits etc. than the interest charged on loans etc. Since these services are set against administration and use of resources, they are considered as output of these financial institutions and called financial intermediation services indirectly measured. In addition to this imputed value of output, the financial institutions have also incomes (output) from paid financial services through fees and commissions.
Valid from 1970-01-01
Valid to
Owner 930 - Division for national accounts
Comments The following comment is valid from 1970 to 2006: The present national accounts include these financial intermediation services indirectly measured as output in financial service industries, while not being allocated to uses. The full output value has been deducted as a global adjustment to GDP. It means that output and value added in the financial service industries include these services, but they are not counted in GDP. This kind of recording has been the convention followed internationally so far, but EU recently has requested their Member States to allocate this FISIM output to the various users of the services. Through the EEA agreement, Norway is also committed to make this allocation. New figures, form allocating the output of FISIM to the uses involved, are to be published in December 2006. The following comment is valid from 2007: The national accounts included these financial intermediation services indirectly measured as output in financial service industries, while not being allocated to uses. The full output value was deducted as a global adjustment to GDP. This kind of recording has been the convention followed internationally, but EU recently has requested their Member States to allocate this FISIM output to the various users of the services. Through the EEA agreement, Norway is also committed to make this allocation. New figures, from allocating the output of FISIM to the uses involved, were published for the first time in December 2006.
 
Statistical unit Enterprise
Subject 09.01 - National accounts
 
Linked to StatBank tables