Finnish Export Credit Ltd (FEC) is an internationally notified official Export Credit Agency and a wholly owned subsidiary of Finnvera plc. FEC administers on behalf of the Finnish Government the interest equalisation scheme for officially supported export credits and domestic ship financing at CIRRs (Commercial Interest Reference Rate) in accordance with the OECD Arrangement. FEC provides export credits when a withholding tax benefit can be achieved. During the years 2009 and 2011 FEC also provides funding for export credits according to the temporary financing programme approved by the Finnish Parliament.