Off-balance sheet information

29. Irrevocable and contingent liabilities

To meet the financial needs of borrowers, FMO enters into various irrevocable commitments (loan commitments, equity commitments and guarantee commitments) and contingent liabilities. These contingent liabilities consist of financial guarantees, which commit FMO to make payments on behalf of the borrowers in case the borrower fails to fulfill payment obligations. Though these obligations are not recognized on the balance sheet, they do obtain Credit Risk similar to loans to private sector. Therefore, provisions are calculated for financial guarantees and loan commitments according to IFRS 9 ECL measurement methodology. 

Moreover, FMO receives guarantees from various guarantors, which participate in the risk FMO takes. For more details refer to section 'Credit Risk' within the Risk Management paragraph.

The outstanding amount for financial guarantees issued by FMO and amount of guarantees received by FMO is as follows:

Nominal amounts for irrevocable facilities is as follows:

For 2018 total irrevocable facilities contain 84% USD, 14% EUR and 2% other currencies (2017: 85% USD, 12% EUR, 3% other).

The movement in exposure for the financial guarantees issued (including contractual commitments) is as follows:

The movement in gross exposure for loan commitments is as follows:

The movement in ECL for loan commitments is as follows: