The Group uses many financial instruments and combinations thereof as collaterals for repayment of loans. The most frequently used are agreements for transfer of receivables, bills and execution statements. Additionally, the Group uses powers of attorney to bank accounts and assignments of receivables.
As at the reporting date, the following assets were used as collateral for repayment of liabilities or contingent liabilities:
|As at December 31, 2016||As at December 31, 2015|
|Property, plant and equipment||915||845|
|TOTAL ASSETS BEING THE COLLATERAL FOR REPAYMENT OF LIABILITIES||1,000||938|
Property, plant and equipment presented in the table above are collaterals for repayment of drawn investment credits. As at December 31, 2016 and as at December 31, 2015 the most significant item is a collateral mortgage on the power unit 858 MW constructed in PGE Górnictwo i Energetyka Konwencjonalna S.A. Branch Bełchatów Power Plant.
The collaterals on inventories comprise mainly pledges related to loans received from environmental funds.
The companies from the PGE Group are obliged to maintain a specified cash balance on its accounts held with PKO BP and Nordea Bank AB according to the rules of Izba Rozliczeniowa Giełd Towarowych S.A. (Warsaw Commodity Clearing House) and to participate in a guarantee fund. Cash from the two titles mentioned above is accounted for as restricted cash. As at December 31, 2016 it amounted to PLN 72 mln (PLN 285 mln in the comparative period).