Leasing and factoring portfolio
Leasing and factoring portfolio data are used in estimation of activity of economically active enterprises whose main activity is financial intermediation services – size of leasing, factoring portfolios, residual of leasing and factoring portfolio, breakdown of financial leasing portfolio by institutional sector of lessee, as well as breakdown of financial leasing portfolio to non-financial merchants by kind of activity.
Concepts and definitions
Financial leasing is a loan for the purchase of equipment meant for long-term use and similar fixed assets, if the lessor leases such fixed assets to the lessee for a fee that covers payments of the loan principal and interest.
At the end of the lease period the right of ownership transfer to the lessee.
Operating lease is a lease other than a financial lease, signed for a period that does not last for the entire or a substantial part of the useful life of the leased asset.
The lessor covers all expenses related to the maintenance of the leased asset and assumes all risks and rewards associated with the ownership right and upon expiry of the contract will return the property to the leasing company. Upon request, lessee can also buy the property out at the end of the lease period at a previously agreed price.
Factoring is a loan for financing the working capital of an enterprise or a financial institution, whereby the factoring company acquires accounts receivable (claims) of such enterprise or financial institution by taking over the enterprise's or financial institution's right of claim on receivers of goods or services and assuming credit risk.
Insurance companies and pension funds
Insurance companies and pension funds are financial institutions engaged in financial intermediation services, merging risks of various types.
Insurance companies take over the policyholder’s or insured person’s possible risk of loss or pass the risk of possible financial loss to the reinsurer.
Insurance companies offer services of live and non-life insurance.
Private pension funds are providing social risk insurance for fund participants, accumulating and investing payments voluntarily made by the participants to ensure these participants with old-age and disability capital.
Finance auxiliaries are financial institutions engaged mainly in finance auxiliary activities, i.e., in activities which are closely related with financial intermediation, but are not direct financial intermediation, e.g., investment brokers not performing financial intermediation activities on own behalf, companies ensuring infrastructure of financial market, institutions supervising monetary financial institutions (MFI), financial institutions and financial market.
Finance and Capital Market Commission and Nasdaq Riga, the Latvian Central Depository, insurance companies, currency exchange points, as well as investment management companies are considered as financial auxiliaries.
Monetary financial institutions (MFI)
Other financial intermediaries (OFI)
Other financial intermediaries are financial institutions engaged mainly in financial intermediation, accepting obligations other than currency, deposits and substitutes for deposits from clients, which are not OFI, or insurance technical reserves.
Other financial intermediaries are companies engaged in crediting (e.g., financial leasing companies, factoring companies, export and import financing companies), investment funds, investment brokerage companies, financial vehicle corporations, financial holding corporations, venture capital companies as well as other financial institutions, if their activity meets the mentioned requirements.
Residents – all institutions, including foreign institutions, that are registered and are working in Latvia, and individuals whose household is located in Latvia and which do not leave Latvia for a period exceeding one year (excluding students).
Non-profit institutions serving households
The non-profit institutions serving households consists of non-profit institutions that serve households as separate legal persons and are other private non-market producers.
Their main resources other than those from occasional trade are gained from voluntary contributions in cash or in kind from households as consumers, from general government subsidies or as income from real-estate.
Households [Enterprise finances]
Household includes individuals or groups of individuals as consumers and, possibly, also as entrepreneurs who produce goods for market and provide non-financial and financial services (market producers).
This sector also includes individuals or groups of individuals as producers of goods and services for own final consumption.
Local government bodies
Local government bodies are local government administrative structural units and local government agencies area of responsibility of which cover certain territory of the local government or territory of several local governments.
Local government bodies include local government bodies, mediated local government authorities as well as merchants controlled and funded by local governments.
Data collection and statistical processing
Survey method and data source
The main data source is the CSB statistical report form 1-leasing "Survey of the lease provision". Data are obtained from all economically active enterprises whose main activity is financial leasing (6491 NACE Rev.2).
A Form Catalouge has been published on the CSB website.
The sampling frame is created applying information from the Statistical Business Register. All economically active enterprises, whose main activity is financial leasing.
|Year||Economically active enterprises|
The following classifications are used for the Leasing and Portfolio data survey:
- Revision 2 of the Statistical Classification of Economic Activities (NACE Rev. 2);
- Classification of Institutional Sectors (for data calculations).
A Classification Catalogue has been published in the home page of CSB with classification codes and their explanations.
Contact person on methodology
Enterprise Finance and Investment Statistics Section