Note 41 Receivables from subsidiaries There is group-wide financing within the Alliander group, meaning that the activities of the subsidiaries are part-financed through a current account facility with the holding company. External financing is arranged by the holding company itself. Each year, there is a capital restructuring of these companies in line with Alliander's policy, involving distribution of dividends to the holding company or payment of share premium by the holding company.The current account facility is mainly for financing the working capital of Alliander’s subsidiaries. All income and expenditure is accounted for through the current accounts with the subsidiaries. Differentiated interest rates are applied to this finance, of 3.77% for subsidiaries operating in the regulated market, 4.02% for ‘Stable Business’ subsidiaries and 4.77% for ‘New Business & High Risk’ subsidiaries. The interest rate is based on the average cost of borrowing on Alliander’s lending portfolio, plus a risk markup. Current-account lending is treated as a demand deposit and counts as cash-equivalent.