Bank of Finland articles on the economy
Bank of Finland Bulletin 3/2020 - Economic forecast for the Finnish economy
Published 9 Jun 2020
pdf, 654 kB
Bank of Finland Bulletin 2/2020 - Financial stability
Published 20 May 2020
pdf, 1.70 MB
The worst-case scenario in the corona spring did not materialise, but we will still need stamina for the long haul9 June 2020, Bank of Finland Bulletin 3/2020
Healthy public finances provide an irreplaceable shield when we hit hard times. It is important to focus the fiscal policy stimulus effectively and take forward structural reforms. Finland’s labour market, too, has a vital role to play as the economy enters the recovery phase.
Regulation has strengthened the financial system’s resilience5 May 2020, Bank of Finland Bulletin 2/2020
Financial institutions' solvency and liquidity positions have been strengthened since the global financial crisis. A well-functioning banking sector together with government relief measures will bolster the economy's outset for growth once the crisis subsides.
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Solvency II regulation has just come into effect in the EU. This was a necessary change, but its timing is awkward for insurance undertakings, as the current low interest rates and economic uncertainty are placing a strain on their solvency.
The regulation of banks’ capital adequacy was only recently reformed. Assessment and monitoring of the effects of regulation will ensure a level playing field for the banks and the capacity of the financial system to support sustainable economic growth.
In a securities trade, a central counterparty functions as a buyer in relation to the seller, and as a seller in relation to the final buyer. Key to the stability of the financial system is that all aspects of central counterparties’ risk management are sound.
Under the European Deposit Guarantee System proposed by the European Commission, responsibility for guaranteeing deposits would be gradually transferred from national level to the new system.
Market infrastructures are assumed to function reliably, and their crucial role is not noticed until they do not work.
Since the turn of the millennium, investment funds have become a significant financial intermediary in Finland. From the financial stability perspective, the risks surrounding them are similar to those that are usually related to banking.
This appendix describes the method applied, the results of which are reported in the article ‘Investment funds have grown significantly in Finland – do their operations involve stability risks?’
In Finland, the volume of housing loans is large compared with other bank lending and the capital requirements on the banks. Vulnerability is further increased by the relative size of household debt and the tendency for assets to be held in housing.
The uncertainty surrounding the outlook for global growth in general has also focused strongly on the banking and finance sectors, which are particularly sensitive to changes in the economic cycle.
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