The Czech National Bank outlines the coverage and statistical purpose of its list of monetary financial institutions (MFIs). The Czech MFI sector comprises the central bank, commercial banks, credit unions and money market funds. Beyond the central bank, the definition covers resident financial institutions that receive deposits or close substitutes from entities other than MFIs and, for their own account, grant loans or invest in securities. Banks and foreign bank branches included in the list must report to the Czech National Bank under Decrees No. 346/2013 and No. 314/2013 Coll. The European System of Central Banks maintains procedures to monitor, check and update MFI lists to support statistical compilation, financial stability analysis and monetary and financial policy. The European Central Bank publishes daily updates to the list covering EU countries both inside and outside the euro area.
Czech National Bank outlines scope of monetary financial institution list and bank reporting duties
The Czech National Bank explains that its monetary financial institution list covers the central bank, commercial banks, credit unions and money market funds for statistical purposes. Listed banks and foreign bank branches are subject to reporting duties to the central bank. The European Central Bank updates the EU-wide MFI list daily, covering countries inside and outside the euro area.