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

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15 Fair values
2017 2016
EURm Fair value Carrying ammount Fair value Carrying amount
Financial assets, group
Financial assets 22,375 22,375 17,880 17,879
Investments related to unit-linked contracts 7,409 7,409 3,427 3,427
Other assets 469 469 49 49
Cash and cash equivalents 2,734 2,734 2,585 2,585
Total 32,987 32,987 23,941 23,940
Financial liablities, group
Financial liabilities 3,829 3,747 3,910 3,847
Other liabilities 63 63 31 31
Total 3,892 3,810 3,941 3,878
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.