23. Loans and other financial liabilities, including derivatives

This note contains information concerning the contractual stipulations for the Group's interest-bearing loans and other financial liabilities, which are measured at amortised cost.

(in millions of euros)

December 31, 2016

December 31, 2015

Non-Current liabilities

  

Private loans

240

339

Finance lease liabilities

47

59

Interest rate swaps used for hedging

3

17

Commodity derivatives

3

24

Total

293

439

   

Current liabilities

  

Private loans

74

454

Finance lease liabilities

-

18

Interest rate swaps used for hedging

-

-

Commodity derivatives

3

17

Total

77

489

   

Total liabilities

370

928

The private loans include a debt owed by NS Reizigers to the Ministry of Infrastructure and the Environment of €246 million (2015: €278 million) associated with the deferred payments of concession fees. Of that sum, € 206 million has been included under non-current liabilities, for the proportion that is due to be paid after 2017. The portion that will be paid in 2017 (€40 million) is recognised in current liabilities. The interest rate is fixed at 3.027%. The terms and conditions of the loan were agreed in more detail as of 1 January 2015 in the new main rail network concession.

The finance lease liabilities have a gross liability of €91 million and a apllied discount rate of 2.5%.

The Group's liquidity risks, currency risks and interest rate risks associated with the loans and other financial liabilities are explained in more detail in note 30.