9. Staff costs and administrative expenses

	Group		Parent company
(DKKm)	2022	2021	2022	2021
9. Staff costs and administrative expenses
Board of Directors’ remuneration and salary	1	1	1	1
Staff costs:
Salaries*	38	36	38	36
Pensions	4	2	4	2
Total	42	38	42	38

Other administrative expenses	93	59	84	49
Total	136	98	127	88
Average number of employees converted into full-time equivalent	41	41	41	41
*) Including salaries to the Management Board and severance pay.

Information about the remuneration of individual members of the Board of Directors and Management Board is available at Finansiel Stabilitet’s website, www.fs.dk.

Other material risk takers

The Finansiel Stabilitet Group has identified 2 other material risk takers in 2022 and 2021. Salaries include fixed remuneration to these in the total amount of DKK 4.2 million (2021: DKK 4.1 million). For disclosure requirements in accordance with the Danish executive order on remuneration policy and public disclosure of salaries in financial institutions, etc. (not comprised by audits) see www.fs.dk.

Provisions for defined benefit plans

Pension provisions are calculated on the basis of the Danish FSA’s yield curve and benchmark mortality rate. The defined benefit plans are unfunded, and Finansiel Stabilitet thus does not own any pension assets.

Present value of pension obligations	27	29	6	7
Total	27	29	6	7
Movements in provisions for defined benefit plans
Provision, beginning of year	29	29	7	7
Calculated interest expenses	1	1	0	0
Actuarial gains/losses	-1	1	0	0
Pensions paid	-2	-2	-1	-1
Provision, end of year*	27	29	6	7
Defined benefit costs recognised in the income statement/ other comprehensive income
Calculated interest expenses	1	1	0	0
Actuarial gains/losses	-1	1	0	1
Defined benefit costs	0	2	0	1
Actuarial assumptions:
Discount rate	4.0%	3.0%	4.0%	3.0%
Pension adjustment rate	3.5%	2.0%	3.5%	2.0%

Fees to auditors appointed in general meeting
Total fees to the auditors appointed in general meeting (EY) can be specified as follows:
Statutory audit	0.3	0.3	0.3	0.3
Non-audit services	0.2	0.1	0.2	0.1
Total audit fees	0.5	0.4	0.5	0.4
* The figures include rounding differences.

	Group		Parent company
(DKK)	2022	2021	2022	2021

10. Other operating expenses
Provision for litigation and settlement	25	-31	37	-4
Other operating expenses	4	10	4	9
Total	29	-21	41	5

(DKKm)		Group
11. Impairment losses on loans, advances and receivables, etc.
2022
Loans, advances and other receivables at amortised cost	Loans, etc. Stage 3 credit-impaired	Impact on operations

Impairment losses and provisions, beginning of year	1,295
Amount lost on previously written-down debt	-420
Impairment losses and provisions during the year	13	13
Reversed impairment losses and provisions	-42	-42
Impairment losses and provisions, end of year	846	-29
Amounts received on previously written-off claims etc.		-33
Impairment losses charged to income statement		-62

Impairment losses/adjustment for credit risk, end of year	Impairment losses beginning of year	Finally lost	Impairment losses during the year	Reversed impairment losses	Impairment losses, end of year

Due from credit institutions	0	0	0	0	0
Loans and advances at amortised cost	1,282	-420	13	-37	838
Guarantees	13	0	0	-5	8
Total	1,295	-420	13	-42	846

All loans and guarantees have been taken over from distressed banks. As mentioned in the accounting policies, the remaining loans and guarantees are considered to be credit-impaired on acquisition and consequently to be stage 3 customers/facilities.

Financial assets measured at amortised cost are removed wholly or partly from the balance sheet if Finansiel Stabilitet no longer has expectations of full or partial recovery of outstanding amounts. Inclusion ceases on the basis of an individual assessment. When a financial asset is removed in full or in part from the balance sheet, any impairment loss on the financial asset is also removed from the calculation of accumulated impairment losses.

Finansiel Stabilitet continues its collection efforts after the assets have been removed from the balance sheet. The measures depend on the individual situation. Over time, Finansiel Stabilitet has on an interim basis written off financial assets amounting to DKK 9.7 billion, which it continues to attempt to collect, including by suspension of the limitation period.

9. Staff costs and administrative expenses

Other material risk takers

10. Other operating expenses

11. Impairment losses on loans, advances and receivables, etc.