Our guarantees

The Debt Office has major guarantee undertakings for infrastructure projects, credit institutions and pensions for former employees of government authorities that have become companies.

For guarantees, it is appropriate for the Government and the lender to share the risk. A guarantee should not cover the whole of the outstanding loan or the financial obligation. There are various kinds of guarantee undertakings:

The individual guarantee undertakings are described under each guarantee type. We only issue guarantees following a decision from the Riksdag and the Government. Under 'Guarantee programme' you will find information on the areas in which we have been granted general authorization to issue guarantees.

Expected losses covered by fees

We regularly calculate the losses that we can expect from our guarantee undertakings. On 30 June 2015, we estimated future credit losses at SEK 868 million.

The expected losses in our guarantee operations are covered by fees; fees already paid and those we expect to receive in the future.

Honouring guarantees

If we need to issue a payment due to a guarantee holder becoming insolvent, this is known as honouring the guarantee. In doing so, we receive a claim on the guarantee holder, known as a claim of recourse. These claims also constitute part of our reserves, which are regularly evaluated.

Overall we estimate that the value of our fees and recourse claims currently exceeds the expected losses.

Considering the small number of objects that we guarantee, provisions for anticipated losses and reserves will not always conform. Honouring a guarantee, or a high risk of the same, may instead cause the reserve to fall below the provisions for anticipated losses.

Read more

Guarantees, 31 July 2019

Our guarantees 
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