Finland Times

Sunday, 06 October, 2024
Home BUSINESSGovt net financial assets up in Q2
Print
Sat, 01 Oct, 2016 12:08:55 AM
FTimes Report, Oct 1
 
General government’s net financial assets. Source: General government financial accounts, Statistics Finland.
General government's net financial assets amounted to EUR 110.1 billion at the end of the second quarter of 2016, according to Statistics Finland’s data.
 
During the quarter, the net financial assets of central government decreased in total by EUR 0.1 billion.
 
The net financial assets of local government continued to grow, now by EUR 0.9 billion.
 
The net financial assets of employment pension schemes and social security funds were also growing, up by EUR 2.5 billion. In total, general government's net financial assets went up by EUR 3.3 billion as per the data derived from general government financial accounts.
 
Central government's net financial assets fell by EUR 0.1 billion from the previous quarter's level, being EUR -67.4 billion at the end of the quarter.
 
Both central government assets and liabilities declined during the quarter. Assets went down slightly more than liabilities, which led to a slight fall in net financial assets. Of assets, deposits were falling and of liabilities, long-term bonds.
 
Local government's net financial assets rose by EUR 0.9 billion and its liabilities went down and assets, in turn, increased.
 
Net financial assets stood at EUR -1.5 billion at the end of the quarter. Of assets, transferable deposits were growing, and of liabilities, long-term loans were falling. Local government's liabilities have been falling in the first two quarters of the year.
 
Employment pension schemes' net financial assets were EUR 177.1 billion at the end of the period, rising by EUR 2.6 billion from the previous quarter. Most of the rise in employment pension schemes' net financial assets has come from mutual fund shares. Their holding gains have grown over the period by around EUR 2.2 billion.
 
In addition, employment pension schemes have transferred their assets from deposits to foreign mutual fund shares and bonds. Employment pension schemes' total assets totalled EUR 182.2 billion in the second quarter.
 
From the beginning of 2016, specified information has been available on cash collateral related to employment pension schemes' derivative contracts and securities lending. These items were previously included in other accounts receivable/payable.
 
Other social security funds' lending increased considerably over the past few years, the statistics show.
 
Now the amount of liabilities has turned to slight decline. Assets also fell slightly from the previous quarter, so other social security funds' net financial assets remained unchanged at EUR 1.9 billion.
 
comments powered by Disqus
More News

 
   
Copyright © 2024 All rights reserved
Developed By -