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(DKKm)
Group

27. Fair value disclosure – continued

2022
Listed prices
Observable input
Non-observable input
Total
Fair value, Group
Financial assets at fair value broken down into:
Bonds
9,333
912
3
10,248
Shares, etc.
0
0
10
10
Investment properties
0
12
0
12
Total
9,333
924
13
10,270
2021
Listed prices
Observable input
Non-observable input
Total
Fair value, Group
Financial assets at fair value broken down into:
Bonds
11,610
0
5
11,615
Shares, etc.
0
3
9
12
Investment properties
0
10
0
10
Total
11,610
13
14
11,637
Fair value based on non-observable input
2022
2021
Beginning of year
14
24
Value adjustment through the income statement (note 7)
-1
10
Disposals during the year (including reclassification)
0
-20
Fair value, end of year
13
14
(DKKm)
Group

28. Fair value of balance sheet items at amortised cost

The vast majority of the Group’s receivables, loans and deposits cannot be transferred without the customer’s prior acceptance, and no active market exists for trading in such financial instruments. Estimated fair values are based on situations where changes in market conditions have been identified after initial recognition of the instrument, affecting the price that would have been agreed if the terms had been agreed at the balance sheet date. As a result, the fair values below are subject to considerable uncertainty.
2022
2021
Amortised cost
Fair value
Amortised cost
Fair value
Financial assets
Cash in hand and demand deposits with central banks
9,911
9,911
8,149
8,149
Due from credit institutions and central banks
5
5
13
13
Loans, advances and other receivables*
33
33
91
91
Commitments made by banks, mortgage credit institutions and investment companies
3,218
3,218
3,217
3,217
Total financial assets
13,167
13,167
11,470
11,470
*) Loans, advances and other receivables are considered to be stage 3 exposures, see note 11, and thus to be credit-impaired. Against this background, amortised cost and fair value are considered to be identical.

29. Return on financial instruments

2022
2021
Assets/
liabilities at amortised cost
Assets/
liabilities at fair value
Total
Assets/
liabilities at amortised cost
Assets/
liabilities at fair value
Total
Interest income
3
114
117
7
113
120
Interest expense
0
0
0
34
0
34
Net interest income
3
114
117
-27
113
86
Share dividends, etc.
0
0
0
0
1
1
Fees and commissions received
2
0
2
2
0
2
Net interest and fee income
5
114
119
-25
114
89
Market value adjustments
0
-859
-859
0
-182
-182
Total
5
-745
-740
-25
-68
-93
Finansiel Stabilitet | Annual Report 2022