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Group
Parent company
(DKKm)
2024
2023
2024
2023

8. Staff costs and administrative expenses

Remuneration, the Board of Directors, 7 members both years
1
1
1
1
Salary, Management Board, 1 member both years
3
3
3
3
Remuneration and salary, Board of Directors and Management Board
4
4
4
4
Staff costs
Salaries
40
33
40
33
Pensions
4
4
4
3
Total
44
37
44
36
Other administrative expenses
46
34
33
28
Total
94
75
81
68
Average number of employees converted into full-time equivalent
48
43
48
43
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 one material risk taker in 2024 and 2023. Information about salaries is omitted pursuant to the exemption provision in the applicable legislation. 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.
Total present value of pension obligations
24
24
24
24
Movements in provisions for defined benefit plans
Provision, beginning of year
24
27
24
6
Additions
0
0
0
18
Calculated interest expenses
1
1
1
1
Actuarial gains/losses
1
-1
1
1
Pensions paid
-2
-2
-2
-2
Provision, end of year (the figures may include rounding differences)
24
24
24
24
Defined benefit costs recognised in the income statement/ other comprehensive income
Calculated interest expenses
1
1
1
1
Actuarial gains/losses
1
-1
1
1
Defined benefit costs
2
0
2
2
Actuarial assumptions
Discount rate
3.5%
3.5%
3.5%
3.5%
Pension adjustment rate
3.5%
3.5%
3.5%
3.5%
Fees to auditors appointed in general meeting (EY) are specified as follows:
Statutory audit
0.5
0.5
0.5
0.5
Other assurance engagements
0.3
0.3
0.1
0.1
Total audit fees
0.8
0.8
0.6
0.6
Group
Parent company
(DKKm)
2024
2023
2024
2023

9. Other operating expenses

Losses on lawsuits and settlements
21
1
12
1
Other operating expenses
1
3
3
0
Total
22
4
15
1
I alt
22
4
15
1
(DKKm)
Group

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

2024
Loans, advances and other receivables at amortised cost
Loans, etc. Stage 3 credit-impaired
Impact on operations
Impairment losses and provisions, beginning of year
514
Amount lost on previously written-down debt
-9
Impairment losses and provisions during the year
2
2
Reversed impairment losses and provisions
-6
-6
Impairment losses and provisions, end of year
501
-4
Amounts received on previously written-off claims etc.
-23
Impairment losses charged to income statement
-27
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
511
-9
2
-6
498
Guarantees
3
0
0
0
3
Total
514
-9
2
-6
501
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. Derecognition is based on 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 approximately DKK 8.8 billion, which it continues to attempt to collect, including by suspension of the limitation period.
Finansiel Stabilitet | Annual report 2024