We are currently developing the documentation of statistics. At the moment, the content is not necessarily up-to-date in all respects.
Financial leasing: documentation of statistics
The documentation of the statistics describes how the statistics were compiled and what methods were used in the compilation. The data help interpret the figures of the statistics and evaluate their reliability and comparability. The quality report is based on the EU's SIMS model. The documentation also contains change releases describing changes in the statistics and possible specifying methodological descriptions.
If you are looking for statistical figures for these statistics, go to the statistics page: Financial leasing
Quality report
Data description (SIMS 3.1)
The statistics have been discontinued. The statistics on financial leasing contain data by sector, industry and object on the financial leasing activities of credit institutions and other lessors.
Concepts and definitions (SIMS 3.4)
Direct leasing
A short term contract, closely resembling a rental contract, that can be revoked by the lessee before the end of contract period if he so wishes. The asset can be leased to several successive lessees, meaning that the leasing period usually does not cover the asset's entire economic lifetime. The lessee retains his right to revoke the contract. The leasing charges usually include both service and rental costs.
Financial leasing
The parties of financial leasing are the seller of the object, the financing enterprise and the lessee. An arrangement whereby a finance company acquires an asset that the lessee needs, and leases it to the lessee under a long-term leasing contract. The main categories of assets subject to financial leasing in Finland are machinery, installations and motor vehicles. Buildings and land are among the assets that may be the subject of lease. The leaser finances his acquisition by leasing the asset to the lessee. The finance company retains ownership of the asset, and ownership is normally not transferred to the lessee after the expiration of the contract. The lessee has the right to use the asset over the lease period, which usually covers all of the economic lifetime of the asset.
Financial leasing acquisition
The acquisition takes place when the financing enterprise acquires possession of the object required by the lessee in its operations from the seller of the product. The lessee independently selects the object to be leased and its supplier, and then signs a leasing contract with the financier.
Financial leasing capital value
Remaining capital value of the financial object.
Financial leasing rent
The rent of the leasing object paid by the lessee that includes both the interest calculated on the object's acquisition price and the handling fee, as well as the amortisation of the object's value excluding the residual value.
Financial leasing sales
Selling takes place when the financier of the leasing object sells the product at the end of the leasing period to the lessee or some other party. At the end of the leasing period, the lessee has the opportunity to redeem the leased object at the price indicated by the residual value (purchasing option) or find a buyer for the object.
Property leasing
A form of financial leasing of immovable property. Sale and leaseback of immovable property is an arrangement where the owner of a property sells the property to a finance company and immediately leases it back. The lessee continues to hold and use the property throughout the entire leasing period. The lessee usually retains the option to repurchase the property subject to certain conditions. Specified data on property leasing and other sale and lease back activity were collected in the statistics on financial leasing until 2008. From 2009 onwards these are included in other financial leasing activity in the statistics.
Sale and lease back contract
A sale and lease back contract is an arrangement whereby the owner of an asset sells that asset to a finance company and immediately leases it back. A sale and lease back arrangement normally involves only two parties: the financing company and the customer. The seller of the asset and the lessee are one and the same person, both nominally and factually. The lessee is normally the original owner of the asset, who retains possession and use of the asset during the entire duration of the sale and leaseback arrangement. The subject of lease is usually a building, but can be any kind of property, movable or immovable. Specified data on sale and lease back contracts were collected in the statistics on financial leasing until 2008. From 2009 onwards the sale and lease back activity is included in other financial leasing activity in the statistics.
Institutional mandate (SIMS 6)
The compilation of statistics is guided by the Statistics Act. The Statistics Act contains provisions on collection of data, processing of data and the obligation to provide data. Besides the Statistics Act, the General Data Protection Regulation, the Data Protection Act and the Act on the Openness of Government Activities are applied to processing of data when producing statistics.
Statistics Finland compiles statistics in line with the EU’s regulations applicable to statistics, which steer the statistical agencies of all EU Member States.
Further information: Statistical legislation
Quality assurance (SIMS 11.1)
Quality management requires comprehensive guidance of activities. The European Statistics Code of Practice forms the basis for the common quality system of the European Statistical System.
The Code of Practice is based on 16 principles that concern statistical authorities' independence, accountability and the quality of the processes and data to be published.
The principles are in line with the Fundamental Principles of Official Statistics approved by the United Nations Statistics Commission and are supplementary to them. The quality criteria of Official Statistics of Finland are compatible with the European Statistics Code of Practice.
Further information:
Release calendar (SIMS 8.1)
Statistics Finland publishes new statistical data at 8 am on weekdays in its web service. The release times of statistics are given in advance in the release calendar available in the web service. The data become public after they have been updated in the web service.
Further information: Publication principles for statistics at Statistics Finland
User access (SIMS 8.3)
The data are released to all users at the same time. Statistical data may be processed at Statistics Finland and information on them may be given before release only by persons involved in the production of the statistics concerned or who need the data of the statistics concerned in their own work before the data are published.
Further information: Publication principles for statistics
Unless otherwise specifically stated in connection with the product, data or service concerned, Statistics Finland is the producer and copyright owner of the data.
Further information: The terms of use for statistical data
Confidentiality - policy (SIMS 7.1)
The data protection of data collected for statistical purposes is guaranteed. The compilation of statistics is guided by the Statistics Act. Alongside the Statistics Act, the EU’s General Data Protection Regulation (eur-lex.europa.eu) and the Finnish Data Protection Act (Finlex.fi) are applied to the processing of personal data. Provisions on the confidentiality of data collected for statistical purposes are laid down in the Act on the Openness of Government Activities (Finlex.fi).
The data are processed only by persons who need the data in their work. The use of data is restricted by usage rights. All persons employed by Statistics Finland have signed a pledge of secrecy, where they have obliged to keep secret the data prescribed as confidential by virtue of the Statistics Act or the Act on the Openness of Government Activities.
Further information: Data protection