• Source: Finnish Financial Stability Authority

    • The Finnish Financial Stability Authority (Finnish: Rahoitusvakausvirasto, RVV is a Finish financial regulatory authority established at the beginning of 2015 which is the designated bank resolution authority in Finland. As such, it is responsible for planning the resolution of credit institutions and investment companies, as well as decision-making to reorganize the operations of institutions that have fallen into financial difficulties. It also manages Finland's national deposit insurance system.


    History


    The authority was established at the beginning of 2015 by the Finnish Government.


    Overview


    The Financial Stability Authority operates as part of the EU's Single Resolution Mechanism. The agency participates in the work of the EU's Single Resolution Board (SRB) and closely cooperates with the SRB in issues related to resolution. The Financial Stability Authority is also responsible for managing the official tasks related to the planning of the resolution of Finland's central securities depository.
    In addition, the Financial Stability Authority acts as Finland's national authority responsible for deposit insurance. The Authority performs tasks belonging to the deposit protection system, collects deposit protection fees and decides on the payment obligation of the deposit protection fund. The Financial Stability Authority manages the Financial Stability Fund outside the state budget, which consists of the resolution fund accumulated as stability fees and the deposit protection fund accumulated as deposit protection fees. The Financial Stability Authority maintains a security of supply account system, which consists of a security of supply account service and a security of supply service for card payments.


    Leadership


    Tuija Taos, Director General 2015–2023
    Jaakko Weuro, Director General since 2023


    See also


    Finnish Financial Supervisory Authority
    List of financial regulatory authorities by jurisdiction


    Notes

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