Notes to the Group’s Financial Statements

Select note 1–42
16 Fair values
2016 2015
EURm Fair value Carrying ammount Fair value Carrying amount
Financial assets, group
Financial assets 17,880 17,879 17,192 17,189
Investments related to unit-linked contracts 3,427 3,427 5,847 5,847
Other assets 49 49 28 28
Cash and cash equivalents 2,585 2,585 1,997 1,997
Total 23,941 23,940 25,064 25,060
Financial liablities, group
Financial liabilities 3,910 3,847 2,424 2,375
Other liabilities 31 31 64 64
Total 3,941 3,878 2,488 2,439
In the table above are presented fair values and carrying amounts of financial assets and liabilities. Assets held for sale are included in the figures. The detailed measurement bases of financial assets and liabilities are disclosed in Group Accounting policies.
The fair value of investment securities is assessed using quoted prices in active markets. If published price quotations are not available, the fair value is assessed using discounting method. Values for the discount rates are taken from the market’s yield curve.
The fair value of the derivative instruments is assessed using quoted market prices in active markets, discounting method or option pricing models.
The fair value of loans and other financial instruments which have no quoted price in active markets is based on discounted cash flows, using quoted market rates. The market’s yield curve is adjusted by other components of the instrument, e.g. by credit risk.
The fair value for short-term non-interest-bearing receivables and payables is their carrying amount.
Disclosed fair values are "clean" fair values, i.e. less interest accruals.
The tables for the Financial Statements are also available in Excel format.