The Financial Stability Authority collects a total of EUR 152,3 million as deposit guarantee contributions and entry contributions for a new bank in 2024. The Financial Stability Authority has made the decisions on the deposit guarantee contributions for 2024 on May 6.
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 2023, this corresponds to approximately EUR 1 223.2 million (the target level based on the amount of covered deposits at the end of 2022 was EUR 1 222.5 million). At the end of 2023, covered deposits totaled approximately EUR 152.9 billion (approximately EUR 152.8 billion at the end of 2022). In 2023, the covered deposits grew slightly. 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 slightly.
At present, the Deposit Guarantee Fund amounts to approximately EUR 1 070.9 million. After the contributions for 2024 have been collected, the fund will amount to approximately EUR 1 223.2 million.
National ex-ante contributions from investment firms in 2024
In addition to the ex-ante contributions, the FFSA also collects national contributions to the national resolution fund of approximately EUR 99 000 from certain investment firms. The target level for the national resolution fund to be achieved by 2024 is approximately EUR 897 000. The target level is the relevant investment firms’ share of the common target level for investment firms and banks, which is 1% of covered deposits. Investment firms’ share is calculated by dividing the amount of their liabilities less own funds by the amount of investment firms’ and banks’ liabilities less own funds and covered deposits. Compared to year 2023, the target level decreased with a decrease in the relative size of the investment firm sector, which also decreased the ex-ante contribution obligations.
For further information, please contact Resolution Experts Erika Aunio (talletussuojamaksut(at)rahoitusvakausvirasto.fi) and Kristiina Tuomikoski (vakausmaksut(at)rvv.fi).
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