The Financial Stability Authority (FFSA) has made an implementation decision regarding an automated decision-making procedure as required by the Act on Information Management in Public Administration. An automated decision-making procedure means that a person does not participate in the decision-making process. The case is resolved by automated data processing.
The FFSA uses the automated decision-making procedure to make deposit guarantee compensation decisions for individual depositors. This means that a compensation decision can be made automatically, either entirely or partially. Automated decision-making ensures that the depositor receives their compensation decision very quickly in the event of their bank becoming insolvent.
Current legislation ensures the legal basis for the FFSA’s automated decision-making. Automated decision-making is based on the Act on Information Management in Public Administration (906/2019), which contains provisions on the legal liability of officials when using the automated decision-making procedure and the preconditions for introducing procedures.
Read more about the use of the automated decision-making procedure in the context of the deposit guarantee scheme compensation process and the implementation decision.
Further enquiries: Saija Kuivalainen, Head of Deposit Guarantee and Emergency Supply Unit, saija.kuivalainen(at)rahoitusvakausvirasto.fi and Mari Rantamaula, Administrative Lawyer, mari.rantamaula(at)rahoitusvakausvirasto.fi.
For more information on our current topics, visit the FFSA’s website.
