Short-term investments, cash and cash equivalents were as follows.
Cash and cash equivalents are defined as the sum of Short-term investments with maturities up to and including 3 months and the balance sheet item Cash and bank. The carrying values are assumed to approximate fair values as the risk of changes in value is insignificant. As of December 31, 2015, there were no blocked funds in TeliaSonera AB’s bank accounts. For more information on financial instruments by category and exposed to credit risk, refer to Note P19 “Financial assets and liabilities by category and level” and section “Credit risk management” in Note P20 “Financial risk management,” respectively.