NAICS 521110 Quarterly Industry Report
Monetary Authorities - Central Bank
Comprehensive industry research for valuation professionals, business owners, buyers, and lenders
NAICS Code: 521110Sector: Finance and Insurance (52)Updated: Q1 2026
About This Report
This Fair Market Value report for NAICS 521110 covers the Monetary Authorities-Central Bank industry using data from the Census Bureau[6], Bureau of Labor Statistics, and Federal Reserve Economic Data. Coverage includes establishment counts, employment statistics, revenue data, and regulatory classification details. Additional data is drawn from SBA[7].. Information supports institutional analysis and economic policy research.
Industry Snapshot
Key metrics for the monetary authorities - central bank industry.
Industry Definition & Overview
Monetary Authorities-Central Bank (NAICS 521110) encompasses establishments primarily engaged in performing central banking functions, such as issuing currency, managing the nation's money supply and international reserves, and holding deposits representing the reserves of other banks and central banks. Establishments engaged in check clearing and other financial transaction processing are also classified within this industry. These institutions serve as fiscal agents for the central government and manage functions that support the entire financial system.
Per recent data, roughly 48 establishments operate within this industry classification with an estimated employment of 19,189 people. Federal Reserve Economic Data[5] tracks employment and productivity metrics for this sector. Monetary authorities charged with monetary control operations are central to managing inflation, interest rates, and overall economic stability. Total industry revenue reached $116.9 billion, with annual payroll of $2.27 billion.
Operations include open market transactions, discount window lending, reserve requirement administration, and payment system oversight. Per Census Bureau[6] data, the Board of Governors of the Federal Reserve System is classified under NAICS 921130 (Public Finance Activities), while Federal Reserve Banks fall under this classification. This distinction separates regulatory governance functions from operational banking activities. Payment system modernization and real-time settlement initiatives represent ongoing operational priorities for monetary authorities in the current financial landscape.
What's Included in This Industry
- Federal Reserve Banks and regional bank operations
- Currency issuance and circulation management
- Money supply management and control operations
- International reserves holding and management
- Reserve deposit services for other banks
- Check clearing and financial transaction processing
- Fiscal agent services for central government
- Monetary policy implementation and administration
- Bank regulation and supervisory activities
- Financial system stability operations
NAICS Classification Hierarchy
| Level | Description | Code |
|---|---|---|
| Sector | Finance and Insurance | 52 |
| Subsector | Monetary Authorities-Central Bank | 521 |
| Industry Group | Monetary Authorities-Central Bank | 5211 |
| NAICS Industry | Monetary Authorities-Central Bank | 52111 |
| National Industry | Monetary Authorities-Central Bank | 521110 |
Related NAICS Codes
| Code | Description | Relationship |
|---|---|---|
| 522110 | Commercial Banking | Commercial Banking provides deposit-taking and lending operations under the monetary policy framework established by NAICS 521110 central banking authorities and regulatory oversight. |
| 523150 | Investment Banking and Securities Intermediation | Investment Banking and Securities Intermediation handles underwriting and securities operations that complement central bank functions by supporting capital markets activities and securities issuance. |
| 524113 | Direct Life Insurance Carriers | Direct Life Insurance Carriers are financial institutions that work alongside central banks in managing systemic financial risk and consumer protection within regulated frameworks. |
| 525110 | Pension Funds | Pension Funds manage retirement savings and operate within the financial regulatory environment shaped by central bank monetary policy and financial oversight mechanisms. |
| 525910 | Open-End Investment Funds | Open-End Investment Funds operate in capital markets regulated by securities authorities and monetary policymakers, providing investment vehicles that respond to interest rate conditions. |
| 522210 | Credit Card Issuing | Credit Card Issuing institutions provide consumer credit services influenced by central bank interest rate decisions and monetary policy transmission mechanisms affecting the financial system. |
Geographic Concentration
Top states by share of national establishments.
| # | State | % Est. | Total Est. |
|---|---|---|---|
| 1 | Texas | 17.9% | 7 |
| 2 | Virginia | 12.8% | 5 |
| 3 | Missouri | 12.8% | 5 |
| 4 | California | 12.8% | 5 |
| 5 | Kentucky | 10.3% | 4 |
| 6 | Pennsylvania | 10.3% | 4 |
| 7 | New York | 7.7% | 3 |
| 8 | Illinois | 7.7% | 3 |
| 9 | Ohio | 7.7% | 3 |
% Of Establishments
0%
18%
Source: County Business Patterns, U.S. Census Bureau[3]
SBA Lending Summary
8
Total SBA Loans
$296K
Total Loan Volume
$37K
Average Loan Size
10 yrs
Average Loan Term
14.00%
Average Interest Rate
16
Jobs Supported
Source: SBA 7(a) Program Data, U.S. Small Business Administration — FY 2025[4]
Key Insight: Per SBA size standards[8], NAICS 521110 uses an asset-based measure. Establishments with average assets of $850 million or less qualify as small businesses. Size is determined using quarterly financial statements from the preceding year reported on Federal Financial Institutions Examination Council forms. Eligible businesses can access SBA 7(a) loans[9] for working capital, equipment, and acquisition financing, while 504 loans[10] support major fixed-asset purchases including real estate and heavy machinery.
Top SBA Lenders
| # | Lender | Loans | Volume | Avg Loan |
|---|---|---|---|---|
| 1 | Newtek Bank, National Association | 8 | $296K | $37K |
Frequently Asked Questions
Common questions about this industry.
What are the primary functions of NAICS 521110 establishments?
Establishments in NAICS 521110 primarily issue currency, manage the money supply and international reserves, hold deposits from other banks, and serve as fiscal agents for the central government. Per Census Bureau[11] definitions, they also handle check clearing and transaction processing.
How many people work in this industry?
Roughly 19,189 employees work across 48 establishments. Per Bureau of Labor Statistics[12] data, occupational employment and wage estimates are maintained for this sector.
What distinguishes NAICS 521110 from commercial banking?
NAICS 521110 covers central banking functions like currency issuance and money supply management, while NAICS 522110[11] covers commercial banking services like accepting deposits and making loans. Central banks serve the financial system; commercial banks serve individual and business customers.
Are all Federal Reserve operations classified as NAICS 521110?
No, per Census Bureau[11] definitions, the Board of Governors of the Federal Reserve System is classified under NAICS 921130 (Public Finance Activities), while Federal Reserve Banks are classified in NAICS 521110. This separates regulatory functions from operational banking.
What data sources track this industry?
Multiple sources provide data including the Census Bureau[6], Bureau of Labor Statistics, and the Federal Reserve's FRED database tracking employment, productivity, and hours worked statistics.
How does NAICS 521110 relate to international banking?
Per Federal Reserve[13] data, these establishments manage international reserves and hold deposits from other central banks worldwide. Functions support international financial stability and enable cross-border monetary coordination among nations.
What economic indicators track industry health?
Key indicators include employment levels, hours worked, output per worker, and monetary policy effectiveness metrics. Federal Reserve[5] databases track these measures for analyzing performance.
What was total industry revenue?
Per Census Bureau[6] data, total revenue was $116.9 billion with annual payroll of $2.27 billion. More recent revenue data can be accessed through Census Bureau economic census resources.
Sources & References
Government datasets and editorial sources used in this report.
- [1]U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages bls.gov
- [2]U.S. Census Bureau, Economic Census census.gov
- [3]U.S. Census Bureau, County Business Patterns census.gov
- [4]U.S. Small Business Administration, SBA 7(a) Loan Program Data data.sba.gov
- [5]Federal Reserve Economic Data fred.stlouisfed.org
- [6]Census Bureau data.census.gov
- [7]SBA sba.gov
- [8]SBA size standards sba.gov
- [9]SBA 7(a) loans sba.gov
- [10]504 loans sba.gov
- [11]Census Bureau census.gov
- [12]Bureau of Labor Statistics bls.gov
- [13]Federal Reserve federalreserve.gov
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