IHS—Miess, Schmelzer/SFC Model Austria—43 Regarding the choice of liabilities, figure 23 shows the financing structure of Austrian NFC (firms) very well: funds are obtained primarily by issuing equity or taking up loans, less by issuing securities (corporate bonds). As a comparison, figure 24 depicts that Austrian banks finance more than about 65 % of their liabilities by deposits (from households and on inter-bank market), then via securities and in the third place via equity. Figure 23: Liability Choice of NFC sector (shares of 100 %) 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 lambda F6 - firm - dum F5F7 - firm - dum F4F8 - firm - dum F3 - firm - dum FA S dir/finp time Sum of value par Legend - F6: Insur. techn. res., F5F7: Stocks, F522: IFU shares, F4F8: Loans, F3: Securities, F2: Deposits, F1: Mon. Gold and SDRs Figure 24: Liability Choice of Banks (shares of 100 %) 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 lambda F6 - bank - dum F5F7 - bank - dum F4F8 - bank - dum F3 - bank - dum F2 - bank - dum FA S dir/finp time Sum of value par Legend - F6: Insur. techn. res., F5F7: Stocks, F522: IFU shares, F4F8: Loans, F3: Securities, F2: Deposits, F1: Mon. Gold and SDRs