Investments and financing at public institutions through leasing operations

Leasing is an agreement through which the leaseholder gives up to the lessor, in exchange for a payment or a series of payments, the right to use an active for a determined period of time. The classification of a leasing operation as financial or operational leasing varies to the extend in which the risks and advantages of the property title are transferred along. The gross investment in leasing represents the aggregate of the minimum leasing payments, according to a financial leasing contract, from the point of view of the leaseholder and any not granted residual value that is added to the lessor.