Other notes to the Group’s Financial Statements 1–40

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14 Financial assets
Group's financial assets comprise investments in derivatives, financial assets designated as at fair value through p/l, loans and receivables, available-for-sale financial assets and investments in subsidiaries. The Holding segment includes also investments in subsidiaries.
The Group uses derivative instruments for trading and for hedging purposes. The derivatives used are foreign exchange, interest rate and equity derivatives. Fair value hedging has been applied during the financial year in Mandatum.
EURm 2017 2016
If
Derivative financial instruments 25 14
Loans and receivables 83 84
Financial assets available-for-sale 11,109 11,569
If, total 11,217 11,667
Topdanmark
Derivative financial instruments 16 -
Assets held for trading 5,692
Loans and receivables 458 -
Topdanmark, total 6,166 -
Mandatum
Derivative financial instruments 31 13
Financial assets designated as at fair value through p/l - 24
Loans and receivables 0 20
Financial assets available-for-sale 5,144 5,612
Total 5,176 5,670
Assets held for sale -198 -210
Mandatum, total 4,977 5,459
Holding
Derivative financial instruments 13 18
Loans and receivables 0 0
Financial assets available-for-sale 729 814
Investments in subsidiaries 3,767 2,370
Holding, total 4,510 3,201
Elimination items between segments -4,038 -2,659
Group financial assets, total 22,832 17,668
Derivative financial instruments
2017 2016
Contract/ Fair value Contract/ Fair value
EURm notional amount Assets Liabilities notional amount Assets Liabilities
Derivatives held for trading
Interest rate derivatives
OTC derivatives
Intrerest rate swaps 2,836 6 77 735 12 4
Foreign exchange derivatives
OTC derivatives
Currency forwards 11,131 74 18 5,317 27 75
Currency options, bought and sold 188 2 1 92 0 0
Total foreign exchange derivatives 11,319 76 18 5,409 27 75
Equity derivatives
OTC derivatives
Equity and equity index options 0 0 0 9 3 3
Equity futures 44 0 0 - - -
Total equity derivatives 44 0 0 9 3 3
Total derivatives held for trading 14,199 82 96 6,153 43 81
Derivatives held for hedging
Fair value hedges
Currency forwards 364 3 0 534 2 0
Total derivatives held for hedging 364 3 0 534 2 0
Group financial derivatives, total 14,563 85 96 6,687 45 81
Fair value hedges
Fair value hedging is used to hedge a proportion of foreign exchange and interest risk in available-for-sale financial assets. The interest elements of forward contracts have been excluded from hedging relationships in foreign exchange hedges. Net result from exchange derivatives designated as fair value hedges amounted to EURm -63 (19). Net result from hedged risks in fair value hedges of available for sale financial assets amounted to EURm 63 (-19).
Other financial assets
EURm 2017 2016
Financial assets designated as at fair value through p/l
Debt securities 4,628 22
Equty securities 793 2
Total financial assets designated as at fair value through p/l 5,422 24
Loans and receivables 542 104
Financial assets available-for-sale
Debt securities 13,081 13,503
Equity securities 3,902 4,202
Total financial assets available-for-sale 16,982 17,705
Financial assets available-for-sale include impairment losses EURm 288 (242).
Group other financial assets, total 22,945 17,833
Mandatum's assets held for sale -198 -210
EURm 2017 2016
Group financial assets, total 22,832 17,668