KommuneKredit is one of the oldest local government credit institutions, and is legally organized as a credit association. KommuneKredit has been active in the financial markets for more than 120 years. The establishment of KommuneKredit was authorised under Danish Parliamentary Act No. 35 of 19th March 1898. Pursuant to this Act the Minister of the Interior approved the establishment of…More KommuneKredit as a credit association with the purpose to provide loans to Danish local governments and to Danish semi-municipal institutions which are fully guaranteed by local governments. The members of KommuneKredit comprise municipalities (kommuner) and regions (regioner) – together local governments - which have loans outstanding or have guaranteed outstanding loans to semi-municipal institutions. Municipalities are the lowest tier of local authority in Denmark in geographic terms and encompass the whole country. Regions are the second tier and comprise the territory of a number of municipalities. There are 98 municipalities and 5 regions in Denmark. All municipalities and regions are currently members of KommuneKredit.