Note 26 – Pledged assets and contingent liabilities

Pledged assets to credit institutions
Group 2016 2015
Liens on assets 1,120 1,087
Property mortgages 24 38
Shares in subsidiaries 995 924
2,139 2,049
Parent Company  2016 2015
Promissory notes receivable 310 300
Shares in subsidiaries 856 856
1,166 1,156

Financial assets pledged as collateral

The Parent Company has promissory notes receivable from BE Group Sverige AB and BE Group Oy Ab pledged as collateral for external loan agreements. The carrying amount is equal to the amount reported as pledged collateral. Please see Note 31 Financial risk management with regard to significant terms and conditions of external loan agreements.

Contingent liabilities
Group 2016 2015
Guarantees 10 13
Other items 7 8
17 21
Parent Company  2016 2015
Guarantee obligations for the benefit of subsidiaries 52 46
52 46

The Parent Company provides a joint and several guarantee covering subsidiaries’ payment of receivables to materials suppliers. In addition to these reported commitments, the Parent Company has also provided customary guarantees for subsidiaries’ obligations to pay rent to property owners.