Contingent liabilities of the general government under the provisions of Council Directive 2011/85/EU

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Juniper Hopkins
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1 Updated: 15 January 2018 Finland Contingent of the general under the provisions of Council Directive 2011/85/EU Table 1: Table 2: Table 3: Table 4: Table 5: Government guarantees Liabilities of public corporations classified outside general Off-balance sheet Public-Private Partnerships Non-performing loans of general Participation of in the capital of corporations classified outside general GDP used in tables has been published on 13 July 2017.

2 Table 1: Government guarantees* Total 23,6 25,8 28,5 28,0 One-off guarantees guarantees, excluding debt assumed by 22,8 24,9 27,6 27,0 of which: public corporations 10,7 11,4 12,0 12,2 Memo item: financial corporations 7,6 8,1 8,6 9,0 Standardised guarantees guarantees 0,8 0,9 1,0 1,1 Central Government 13,0 15,2 17,9 17,7 One-off guarantees guarantees, excluding debt assumed by 12,2 14,4 16,9 16,6 of which: public corporations 0,6 1,4 2,0 2,4 Memo item: financial corporations 0,9 1,5 2,1 2,6 Standardised guarantees guarantees 0,8 0,9 1,0 1,1 Local Government 10,6 10,6 10,6 10,4 One-off guarantees guarantees, excluding debt assumed by 10,6 10,6 10,6 10,4 of which: public corporations 10,1 10,0 10,0 9,7 Memo item: financial corporations 6,7 6,5 6,5 6,4 Standardised guarantees guarantees M M M M *Central one-off guarantees include guarantees provided by Finnvera Plc (S.12) and Finavia Plc (S.11). Starting from year 2016, Finavia is no longer included.

3 Table 2: Liabilities of public corporations classified outside general * TOTAL LIABILITIES 42,7 17,7 25,0 M Liabilities of units involved in financial activities 20,5 5,1 15,4 M Liabilities of units involved in other activities 22,2 12,6 9,6 M of which: loss-making non-financial units 6,4 6,0 0,3 M TOTAL LIABILITIES 43,1 17,7 25,4 M Liabilities of units involved in financial activities 20,2 4,4 15,8 M Liabilities of units involved in other activities 22,9 13,3 9,6 M of which: loss-making non-financial units 8,3 7,7 0,6 M TOTAL LIABILITIES 37,7 14,9 22,8 M Liabilities of units involved in financial activities 17,9 3,6 14,3 M Liabilities of units involved in other activities 19,8 11,3 8,5 M of which: loss-making non-financial units 3,6 2,9 0,7 M TOTAL LIABILITIES 35,6 14,9 20,7 M Liabilities of units involved in financial activities 14,9 2,3 12,6 M Liabilities of units involved in other activities 20,7 12,6 8,1 M of which: loss-making non-financial units 6,6 6,4 0,2 M The aggregates include only corporations reporting higher than 0,01% of GDP. *Liabilities of public corporations are non-consolidated at enterprise group level. Liabilities include both Finnvera Plc s and Finnish Export Credit Ltd s.

4 Table 3: Off balance sheet Public Private Partnerships* Total 0,03 0,03 0,03 0,02 Central Government 0,00 0,00 0,00 0,00 Local Government 0,03 0,03 0,03 0,02 Social Security Funds 0,00 0,00 0,00 0,00 *Adjusted capital value reported is an estimation by Statistics Finland and it is based on an estimated depreciation time of 30 years.

5 Table 4: Non-performing loans of general * Total 0,07 0,13 0,09 0,08 Central Government 0,07 0,13 0,09 0,08 Local Government L L L L Social Security Funds L L L 0,0 *The stock of non-performing loans of the consists of Tekes (the Finnish Funding Agency for Technology and Innovation) loans for companies (mainly SMEs), Arava state-subsidized housing loans, and Makera (Development Fund of Agriculture and Forestry) loans for agriculture sector. At the moment, data on non-performing loans is not available for. For s data is available from the statistical year 2016.

6 Table 5: Participation of in the capital of corporations classified outside general * Total 35,2 36,7 35,7 30,5 Public corporations L L 13,3 13,9 Private corporations L L 22,5 16,6 *Split between private and public corporations is somewhat estimated. One important factor is that this data includes portfolio investements of s which in Finland contain emplyment pension schemes and their portfolio investments to both domestic and foreign private corporations. There is a break in the timeseries between 2015 and 2016, because there is a new source data available for employment pension schemes. Based on the new source data it was possible to make a more accurate distinction between different types of equity employment pension schemes have in their portfolios. Through investment in the capital of international organisations such as the IMF and development banks, the acquires equity, however these are excluded from the figures in the table above. In the same manner equity in Bank of Finland has been excluded from these figures.

Country specific footnotes

Country specific footnotes Date: 15.01.2018 Government Guarantees (table: gov_cl_guar) Country specific notes related to guarantees BE BG CZ DK DE due to improved data coverage, undertaken sector reclassifications