Analysis
NAICS 521110 is the 2022 national industry for monetary authorities-central bank, part of 52111 (Monetary Authorities-Central Bank). Census lists 8 example activities under it in the official index.
County Business Patterns counts 66 US establishments in this code in 2023, employing 22,009 people at an average annual payroll of $147,648 per employee (96th percentile of national industries). 8% of the establishments have fewer than five employees, which points to larger operations.
Between 2018 and 2023 the number of establishments grew 14% and employment rose 11%. The 2018 count used NAICS 2017, so part of a large move can come from codes being redefined rather than from businesses opening or closing.
Its index entries, the activities Census uses to assign businesses to this code, include banking, central, banks, Federal Reserve, branches, Federal Reserve Bank and central bank, monetary authorities, among 8 in all.
For example, businesses of the Board of Governors of the Federal Reserve System are classified in 921130 (Public Finance Activities) instead.
Census lists 1 related activities that belong elsewhere, most often in 921130. Businesses that do several things are classified by their primary activity, the one that generates the most value, so check those boundaries before settling on this code.
Official definition
This industry comprises establishments primarily engaged in performing central banking functions, such as issuing currency, managing the Nation's money supply and international reserves, holding deposits that represent the reserves of other banks and other central banks, and acting as a fiscal agent for the central government.
Source: US Census Bureau, NAICS 2022 Manual.
Not this code if…
| The business mainly does | Use instead |
|---|---|
| Establishments of the Board of Governors of the Federal Reserve System | 921130 Public Finance Activities |
Index entries (8)
- Banking, central
- Banks, Federal Reserve
- Branches, Federal Reserve Bank
- Central bank, monetary authorities
- Check clearing activities of the central bank
- Federal Reserve Banks or Branches
- Financial transactions processing of the central bank
- Monetary authorities, central bank