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Information regarding the treatment of personal data by Kommuninvest i Sverige AB
Kommuninvest has high ambitions regarding openness, traceability and transparency. At the same time, the company complies with regulations aimed at protecting the individual and its integrity. Much of the information pertaining to an individual is referred to as personal data. Personal data are defined as follows:
Any information directly or indirectly attributable to a human being who is in life is regarded as personal data. Even images (photos) and sound recordings on individuals treated by computer can be personal data even if no names are mentioned. Encrypted data and various types of electronic identities, such as IP numbers, are counted as personal data if they can be linked to a physical person.
This information describes Kommuninvest's considerations and regulations regarding the company's handling of personal information when you visit our websites or have other contacts with us.
Kommuninvest i Sverige AB (“Kommuninvest”) is responsible for all personal data that is processed within the entire organization. Below is a brief description of what personal data is processed, the reason why it is processed, and your individual right of access to all data that is held about you.
By visiting our site, you agree to these privacy principles. If you do not agree to these data protection principles, stop using this site and refrain from phone contacts. We refer instead to mail correspondence, which is handled through the registrations department.
Please feel free to get in touch with us if you need any further information about this by using the contact details below.
Personal data that is being managed
Kommuninvest processes personal data for the administration and execution of contracts that are in force, and to be able to fulfil its legal obligations. Kommuninvest processes personal data that is provided voluntarily when visiting the Kommuninvest website, when entering contracts, or when data is otherwise recorded about the preparation or administration of a contract (for example, about a lending or borrowing agreement). When matters are dealt with on the telephone, personal data is also processed by recording the call. Kommuninvest may also supplement personal data by obtaining further information from public records.
Personal data may be disclosed in certain situations where Kommuninvest is obliged by law to provide information to an agency, for example the Swedish Financial Supervisory Authority, or the Swedish Data Protection Authority.
Kommuninvest may occasionally collect anonymous information about the use of its websites to improve the site and the services provided. These usage data may apply among others:
the number of visits to the site and their length;
the user's geographical position;
usage rate of the site different sections;
which technique is used;
disturbances in the business.
The data is not reviewed at an individual level without your express permission.
When Kommuninvest collects identifiable data, we strive to inform you as to the purpose for which the information is requested. Normally, this information is requested to answer your questions.
Kommuninvest may share this type of information within the Group for the purposes mentioned in this information.
Kommuninvest uses subcontractors to offer digital services. We may need to share your personal information with these for them to provide us with their services. Our subcontractors may not use this kind of personal data for any other purpose and we assume that their services are covered by privacy. Kommuninvest does not sell and does not exchange personal data with other companies for marketing purposes.
Kommuninvest may contact you to complete customer satisfaction and market research.
In an application or request relating to an employment advertised on our website or in any other medium, you may need to provide Kommuninvest personal information, such as your resume. Kommuninvest can use this information on all its units when making employment decisions or for purpose of the request. Kommuninvest can save the data for future use, unless you have prohibited this.
Subcontractors in information management
In some situations, Kommuninvest uses subcontractors who collects, evaluates and otherwise handles data on our behalf. Kommuninvest's principle is that subcontractors commit to our data protection regulations. Normally this is governed by an agreement between Kommuninvest and our suppliers.
The accuracy of your personal data
This site may not be used to publish or disseminate data protected by copyright or other equivalent rights without the permission of the proprietor, or otherwise in a way that is adversely, offensive or harmful to Kommuninvest or third parties. By submitting this type of information through the Website, you grant Kommuninvest the right to use, develop, produce, distribute, publish or transmit the information you send in whole or in part, and / or add the data sent from you without obligation and liability to other material or other products or services.
Transcript from register and the rectification of errors
Once a year you can, free of charge, request a transcript from Kommuninvest whereby you will receive information on the personal data about you that is being held, where this data came from, why it was obtained, the purpose for which it is being held, and to whom any data may be disclosed. If you would like to be sent such a transcript, please send a written request, signed by you, to the address you will find below. You can notify us at the same address if you no longer wish to receive information from Kommuninvest, or if you would like to request the correction of some erroneous or incomplete personal data.
Comments on Kommuninvest's actions
You are welcome to contact Kommuninvest's complaint manager who takes care of your comments. Describe what you are not happy with and who you previously have had contact with.
Kommuninvest i Sverige AB
701 42 Örebro
In 2017, the Swedish local government loan market grew by SEK 40 billion to SEK 616 (576) billion1. Growth is driven by continued high investment volumes in the municipalities and municipal companies. Of the local government sector’s total borrowing, 50 (48) percent was financed through Kommuninvest.
Although the local government sector’s external borrowing has risen sharply in volume over the past five-year period, it remains low relative to the country’s economic development. Between 2012 and 2017, borrowing in nominal terms rose by SEK 157 billion, mainly as a consequence of high levels of investment among the local government authorities and municipal companies. As a proportion of Sweden’s GDP, local government debt at the end of 2017 was estimated at 13.2 percent of GDP, compared with 12.5 percent at the end of 2012.
Investments encompass many of the areas for which local government authorities are responsible, with the emphasis being on properties, infrastructure and energy supply. The increase in borrowing is driven primarily by development in the country’s growth municipalities.
Swedish local government sector’s largest lender
The portion of the local government sector’s borrowing that is conducted via Kommuninvest has increased substantially since 2000. The primary reason is the large number of new members of the Society, which has given an increasing number of local government authorities and municipal companies access to credit from the Company. At the same time, the competitiveness of the banks has gradually weakened in the wake of new financial regulations, primarily benefiting Kommuninvest but also borrowing via the capital market, which is mainly an alternative for the larger local government borrowers. The Company estimates that Kommuninvest accounted for 50 (48) percent of the sector’s loan financing at the end of 2017. Borrowing via the bank sector accounted for 18 (20) percent and direct borrowing via the capital market through the authorities’ own bond and commercial paper programmes accounted for 32 (31) percent.
Forms of local government borrowing
Swedish municipalities and county councils/regions have access to three main sources of loan financing:
borrowing via Kommuninvest
borrowing via the bank sector or other bilateral parties
borrowing via the money and bond markets
The local government sector’s borrowing debt and forms of financing, 2007–2017
Funding via Kommuninvest, SEK bn
Bank loans, SEK bn
Local government sector
of GDP, % (right axis)
The local government sector’s borrowing over the past decade is characterised by an increased proportion of borrowing via Kommuninvest and proprietary funding programmes, as well as a reduction in borrowing via the banking sector. Data for 2017 are based on estimated total debt.
1) Forecast based on Kommuninvest’s ongoing monitoring of debt and investment trends in the Swedish local government sector. At the time of publication of this annual report, neither the complete data for 2017, nor the municipalities’ and county councils/regions’ own annual reports were available. Values and shares for 2016 have been adjusted in accordance with the municipalities
This is the web version of the annual review for Kommuninvest. It is a summary of the complete legal versions of the annual reports for the two legal entities Kommuninvest i Sverige AB (the Company) and Kommuninvest Cooperative Society (the Society). The complete legal versions can be downloaded as PDF.