Finnish Financial Stability Authority
Finish Financial regulatory authority
- Jaakko Weuro, Director General
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[1]
- Jaakko Weuro, Director General since 2023[2]
See also
Notes
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Government agencies and public bodies of Finland
- Parliamentary Office
- Office of the Parliamentary Ombudsman
- Institute of International Affairs
- National Audit Office
- Office of the Chancellor of Justice
- National Land Survey
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- Food Authority [fi]
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- Defence Forces
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- Arts Promotion Centre [fi]
- National Audiovisual Institute
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- National Repository Library
| National Agency for Education [fi] |
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- Development and Administration Centre for the ELY Centres and TE Offices
- Finnish Energy Authority
- Geological Survey
- Patent and Registration Office [fi]
- Business Finland
- Safety and Chemicals Agency
- Competition and Consumer Authority
- Population Register Centre
- State Treasury
- Finnish Customs
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- VATT Institute for Economic Research
- Government Shared Services Centre for Finance and HR [fi]
- Financial Stability Authority
- Government ICT Centre Valtori [fi]
- Statistics Finland
- Immigration Service
- Border Guard
- Security and Intelligence Service
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- Emergency Response Centre Agency [fi]
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| National Police Board |
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- Prosecution Service
- Legal Register Centre [fi]
- Criminal Sanctions Agency
- European Institute for Crime Prevention and Control [fi]
- Office of the Data Protection Ombudsman [fi]
- Safety Investigation Authority
- Office of the Ombudsman for Children [fi]
- Office of the Ombudsman for Equality [fi]
- Office of the Non-Discrimination Ombudsman [fi]
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- Radiation and Nuclear Safety Authority
- Medicines Agency Fimea
- National Supervisory Authority for Welfare and Health
- Social Security Appeal Board
| Finnish Institute for Health and Welfare |
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