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I. Reporting country information
Reporting Country
UK
Submission Date
September 2012
Reporting Institution (Government
ECGD (UK Export Finance)
Department, ECA)
II.
Reporting country legal and policy information
Mandate/Legal status of ECA
Government Department
Officially supported export credit
Buyer Credit Guarantees
Programs (in the sense of Article 5 of the Supplier Credit Guarantees
OECD Arrangement) during reporting Exporter Insurance
period
Annual reports available on reporting
ECGD’s Annual Report and Accounts to the
year
year ending on 31 March 2012 was published on
27 June 2012. It is available at;
1 (in the
sense of Article 3, Annex 1 of EU
Regulation1233/2011)
Special information on the following
policies:
1) Environment:
a) Do you apply the OECD Council a) Yes.
Recommendation on Common Approaches
on Officially Supported Export Credits and
Environmental and Social Due Diligence?)
b) any other relevant information
b) See page 33-37 of the Annual Report
2) Human rights:
a) Do you apply the Human Rights related a) Yes.
1 EP side suggested to use such a phrase (to ensure that it is not forgotten that the Regulation's official reference
is to "EU objectives and obligations)
aspects of the Recommendation on
Common Approaches, on Officially
Supported Export Credits and
Environmental and Social Due Diligence?
b) any other relevant information?
3) Anti-Bribery measures:
a) Do you apply the OECD
a) Yes.
Recommendation on Bribery and
Officially Supported Export Credits?
b) Any other relevant information?
b) Annually ECGD publishes on its website
statistical information about the operation of its
anti-bribery policies for the year in question.
IV.
Annual Activity Report data:
Explanatory note:
“MS shall report, in accordance with their national legislative framework, on assets and
liabilities, claims paid and recoveries, new commitments, exposures and premium charges."
From Regulation 1233/2011, Annex 1.
ECGD
Accounts 1, 2, 3 and 4
A number of the disclosures in the financial statements are disaggregated into four Accounts.
Accounts 1, 2, and 3 cover ECGD’s Underwriting Activities, while Account 4 covers Export Finance
Activities.
Account 1 - relates to guarantees and insurance issued for business prior to April 1991 and also
insurance issued by the former Insurance Services Group of ECGD (the main part of which was
privatised on 1 December 1991) for which ECGD retains contingent liabilities (‘Insurance Services
Business’).
Account 2 - relates to guarantees and insurance issued for business since April 1991.
Account 3 - relates to guarantees issued for business since April 1991 on the written instruction of
Ministers, which ECGD’s Accounting Officer advised did not meet normal underwriting criteria.
(There is currently no exposure under this account)
link to page 3 link to page 3 link to page 4
Account 4 - relates to the provision of support for Fixed Rate Export Finance (FREF) on behalf of UK
exporters (now closed for new business), together with arrangements for reducing the funding cost of
FREF loans and for certain interest rate swap arrangements.
For purpose of completing this return, i) Table A combines Account 1, 2 and 3. It also includes export
credits with a repayment period below 2 years, and other products where the risk in on the exporter,
which are not subject to the Arrangement; ii) Table B is Account 4.
A) In case of official support is provided in the form of export credit guarantee or
insurance (“pure cover”) in the sense of Art 5 a 1) OECD Arrangement:2 3
Overview of assets (p105)
£1,250m
Overview of liabilities (p105)
£749m
Aggregate nominal risk exposure (p29)
£13.65bn
• 31-3-2012
a.) nominal risk exposure under insurance
and guarantee policies issued (p29)
£13.65bn
• 31-3-2012
b.) nominal risk exposure under promises
and notices of cover
Not available
• 31-3-2012
Premium Income (p 85 & 104)
£84.8m
Recoveries (p24)
Principal £90m
Interest £38m
Claims paid (p24)
£6m
B) In case official support is provided in the form of Official Financing Support in
the sense of Article 5a2) OECD Arrangement:i
Overview of assets(p105)
£269m
Overview of liabilities (p105)
£96m
a) nominal value of officially supported £626m
loan portfolio (p29)
• 31-3-2012
b) total value of off balance sheet Nil
commitments
• 31-3-2012
Interest received (p104)
£11m
Net Operating profit (p62)
£9m
V.
Contingent liabilities
Where contingent liabilities might arise £14,277.6m - before reinsurance
from officially supported export credit £9,923.4m - net of reinsurance
activities, those activities shall be
reported: (p139)
VI.
Evaluation and incorporation of environmental risks
Environmental risks:
In 2011/2012, 15 applications were screened for
environmental, social and human rights impacts.
See page 33 of the Annual Report for details
a) Number/exposure of transactions 2
Category A
b) Number/exposure of transactions
6
Category B
How are environmental risks, which can ECGD complies with the OECD Common
carry other relevant risks, taken into Approaches.
account in the officially supported export
credit activities?
Document Outline