Financial Stability Authority to collect EUR 151,4 million to the Deposit Guarantee Fund in 2023
The Financial Stability Authority collects a total of EUR 151,4 million as deposit guarantee contributions and entry contributions for a new bank in 2023. The Financial Stability Authority has made the decisions on the deposit guarantee contributions for 2023 on May 8.
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 July 3, 2024. As calculated based on the amount of covered deposits at the end of 2022, this corresponds to approximately EUR 1 222.5 million (the target level based on the amount of covered deposits at the end of 2021 was EUR 1 199.5 million). At the end of 2022, covered deposits totalled approximately EUR 152.8 billion (approximately EUR 149.9 billion at the end of 2021).
In 2022, the growth of covered deposits continued. As a result, also the fund’s target level has 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 919.7 million. After the contributions for 2023 have been collected, the fund will amount to approximately EUR 1 071.1 million.
More information: Bank Resolution Expert Hely Luhta (talletussuojamaksut(at)rvv.fi)