Inspection report by the Danish FSA

In September 2018, the Danish FSA conducted an inspection at Danish Ship Finance A/S (Danmarks Skibskredit A/S). 

The inspection covered the areas of the company's management, securities, funding and liquidity, IT, group matters, outsourcing and operational risks.

The inspection resulted in the issuance of one order by the Danish FSA.

Danish Ship Finance was ordered by the FSA to assess the extent to which the credit spread risk should be covered in the determination of the internal capital adequacy requirement. Danish Ship Finance complied with the order and, at 30 September 2018, made an add-on of DKK 365 million to the internal capital adequacy requirement.

The report on inspection of Danish Ship Finance

 

In September and October 2016, the Danish FSA conducted a credit review at Danish Ship Finance A/S (Danmarks Skibskredit A/S).

The FSA reviewed the company’s credit policy, business procedures and reporting in the area. Moreover, the FSA reviewed 25 loan exposures in total. The FSA further reviewed the rules of procedure of the Board of Directors and the written guidelines of the Executive Board with a particular focus on the credit area.

The report on inspection of the credit area

 

In June 2015, the Danish FSA conducted an inspection (functional examination) of Danish Ship Finance A/S (Danmarks Skibskredit A/S).

The inspection covered a range of selected areas, including the company’s organisation and management, credit area, securities trading and funding, audit, risk management function, compliance function, capital adequacy, solvency and liquidity statements as well as IT security.  

All other content of the statement has been noted.  

The report on inspection of Danish Ship Finance

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