6.4 Cash and cash equivalents and other financial assets

19. CASH AND CASH EQUIVALENTS, €1,000 2019 2018
Cash assets and bank account balances 15,626 13,922
Total 15,626 13,922
20. OTHER FINANCIAL ASSETS, €1,000 2019 2018 Hierarchy level
Short-term fixed income funds 67,188 56,881 Level 1
Commercial papers 0 4,498 Level 2
Bank deposits, over 3 months 0 10,000 Level 2
Total 67,188 71,380  

 Accounting principles

Cash and cash equivalents

Cash and cash equivalents in the balance sheet include cash in hand and bank deposits with an initial maturity of no more than three months. Cash and cash equivalents in the cash flow statement also include financial assets recognised in the income statement at fair value. Cash and cash equivalents are derecognised when they mature, are sold or otherwise disposed of. 

Other financial assets

The financial assets classified in this category include short-term money market securities (certificates of deposit, commercial papers and municipality bills), current investments in short-term fixed income funds, and bank deposits kept for more than three months. Financial assets recognised at fair value in the income statement are entered in the balance sheet at fair value at the settlement date. Subsequently, the financial assets are measured on each reporting day at fair value, and the change in their fair value is recognised in the income statement under finance income and costs. Derivatives are also included in this group, but are presented in the balance sheet on their own lines. Accounting principles for derivatives are disclosed in Chapter 6.6.

Available-for-sale investments

Fingrid does not have financing assets classified as available-for-sale investments.

Financial assets are derecognised when they mature, are sold or otherwise disposed of such that their risks and revenues have been transferred.