16.Other Financial Assets

The other financial assets were comprised as follows:

Other financial assets

 

 

 

 

 

 

 

 

 

 

 

Dec. 31, 2020

 

Dec. 31, 2021

 

 

Total

 

Of which current

 

Total

 

Of which current

 

 

€ million

 

€ million

 

€ million

 

€ million

Money market funds

 

771

 

771

 

65

 

65

Loans and bank deposits

 

365

 

360

 

402

 

394

Other investments

 

14

 

 

27

 

Receivables from derivatives

 

18

 

13

 

40

 

34

Receivables under lease agreements

 

8

 

 

8

 

Total

 

1,176

 

1,144

 

542

 

493

In fiscal 2021, money market funds totaling €500 million were transferred to Metzler Trust e.V., Frankfurt am Main (Germany).

Receivables from derivatives included currency forward contracts of €34 million (previous year: €13 million) and embedded derivatives of €6 million (previous year: €5 million).

Receivables under lease agreements relate to finance leases where Covestro is the lessor and the economic owner of the leased assets is the contractual partner. Receivables under lease agreements are based on expected future lease payments of €32 million (previous year: €33 million) including an interest component of €24 million (previous year: €25 million). In the reporting period, interest income for finance leases of €1 million (previous year: €1 million) was recognized. Of the expected lease payments, €1 million is due within one year (previous year: €1 million), €3 million is due within the following four years (previous year: €3 million) and €28 million is due in subsequent years (previous year: €29 million).