Financial holding companies
Updated: 5 June 2023
Next update: Not yet determined
About the statistics
A financial holding company is characterised as a parent company in or part of a financial group in accordance with the Financial Business Act. Financial holding companies are not financial institutions in the traditional sense. Their role in the financial market is primarily to manage ownership interests in other financial institutions (their subsidiaries).
Balance sheet: The balance sheet shows assets, liabilities and equity at the end of accounting period.
Profitt and loss account: The profit and loss account shows income, costs and expenses over the course of the accounting period.
We have four types of classification: instrument, sector, industry and type.
- Financial instruments and physical capital
- Liabilities, claims and other assets in the balance sheet of the financial institutions are divides into two main groups with a view to providing major uniform groups such as bank lending, funding and deposits.
- Debtor and creditor industry
- Borrowers and lenders are classified according to institutional sector classification, based on national accounts rules.
- Debtor and creditor industry
- Based on the rules in the industry standard, the individual financial instruments are grouped according to the debtor's or creditor's industry affiliation.
- Types of income and expenses
- Including interest income and expenses, are based on national accounts rules.
Name: Financial holding companies
Topic: Banking and financial markets
Division for Financial Markets Statistics
Only at national level
Publication-ready data are stored in a FAME-database
The purpose is to contribute financial accounting data to the credit market statistics and the financial sector balance sheets and the census of foreign assets and liabilities. Statistics Norway's accounts statistics for financial holding companies in Norway contain figures from 1994. Since 1996 the statistics have been based on standardized questionnaires, while the accounting data for 1994 and 1995 are based on information in annual reports.
The statistics are includes in national accounts, financial sectors balances and the census of foreign assets and liabilities.
The statistics are based on the guidelines in the System of National Accounts (SNA) and the IMF's Manual on Monetary and Financial Statistics.
Act on the supervision on Credit Institutions, Insurance Companies and Securities Trading etc. Statistics Act Section 2-2.
Council regulation (EC) no. 2223/96
Council regulation (EC) no. 1392/2007
Council regulation (EC) no. 1606/2002
Council regulation (EC) no. 297/2008
The population is all financial holding companies in Norway licensed by the Banking, Insurance and Securities Commission.
The statistics are based on accounting data from the enterprises.
The sample is defined by financial holding companies licensed by the Banking, Insurance and Securities Commission.
Statistics Norway collect the accounting information from the enterprises.
Revision of the Financial holding companies accounting statments are undertaken by Statistics Norway.
If there are less than three observations in one cell, numbers will not be published.
The accounts statistics for financial holding companies are, as far as possible, based on current accounting rules. Breaks can therefore occur in connection with changes in accounting legislation.
Errors and discrepancies can occur in the accounting data. These discrepancies can have a number of sources:
- Errors in the reporting institutions' accounts
- Errors in the transfer of data from the institution's primary accounts to recipients
- Different accounting and evaluation principles
- Different accounting dates for transactions
- Insufficient data from the reporting parties
- Processing errors
Due to large amounts of data and a dynamic control and revision system, published data will be regarded as preliminary until next years data for the same period is published. This means that data for the current year may be revised without this being marked in the preceeding publishing. Large and important revision however, will be commented upon in the publishing of Today's Statistics.