Financial Stability Authority to collect EUR 140 million to the Deposit Guarantee Fund in 2022
In 2022, the Financial Stability Authority collects a total of EUR 140 million as deposit guarantee contributions and entry contributions for a new bank. The Financial Stability Authority has made the decisions on the deposit guarantee contributions for 2022 on 28 April.
The deposit guarantee contributions accumulate the Deposit Guarantee Fund, the purpose of which is to secure the claims of deposit banks’ depositors. The target level of the Deposit Guarantee Fund is 0.8% of the total amount of covered deposits held by deposit banks operating in Finland, and it must be reached by 3 July 2024. As calculated based on the amount of covered deposits at the end of 2021, this corresponds to approximately EUR 1.2 billion (the target level based on the amount of covered deposits at the end of 2020 was EUR 1.16 billion). At the end of 2021, covered deposits totalled approximately EUR 150 billion (approximately EUR 145 billion at the end of 2020). In 2021, the growth of covered deposits continued. As a result, the fund’s target level has also risen and the amount of deposit guarantee contributions to be collected to the fund has increased.
At present, the Deposit Guarantee Fund amounts to approximately EUR 779 million. After the contributions for 2022 have been collected, the fund will amount to approximately EUR 919 million.
For further information, please contact Resolution Expert Erika Aunio (talletussuojamaksut(at)rvv.fi)