INTERNATIONAL COOPERATION

The Financial Stability Authority participates in the preparation of regulations, standards and plans relating to the resolution of banks in a number of European fora. The most important such forum is the Single Resolution Board (SRB). Director General of the Financial Stability Authority participates in the decision-making of the SRB.

The Financial Stability Authority is a member of resolution colleges established for cross-border banking groups operating in Finland. Resolution colleges discuss group resolution plans and the requirement for eligible liabilities, and decide on the group resolution scheme, communication and potential use of financing arrangements in the event of a crisis. Resolution colleges are composed of the resolution authority of a bank’s home Member State, the resolution authorities of subsidiaries’ host Member States and the resolution authorities of significant branches’ host Member States. Further participants are the authority responsible for banking supervision, the competent ministry, the authority responsible for the deposit guarantee scheme, the European Banking Authority (EBA) and, by invitation of the resolution authority, the central bank.

The Financial Stability Authority also participates in the EBA’s working groups and committees. The Authority is a member of the EBA Resolution Committee (ResCo), which deals with resolution-related matters, and participates in the meetings of the other committees and working groups when they handle matters concerning resolution and deposit guarantee.