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International cooperation

 

The Financial Stability Authority is Finland's national deposit guarantee authority, which is responsible for all duties pertaining to the maintenance of the deposit guarantee scheme. The Financial Stability Authority cooperates with other bodies responsible for deposit guarantee in EU/EEA countries, both bilaterally and via international cooperation organisations.

Bilateral cooperation with deposit guarantee schemes of other EU/EEA countries is particularly important when a Finnish bank has set up branches in these countries, or vice versa. The framework for cooperation concerning branches is laid down in the Deposit Guarantee Schemes Directive (DGSD) and the related Multilateral Cooperation Agreement. The Financial Stability Authority is a party to the Agreement. According to the DGSD, the deposit guarantee fund of the host country of a branch is responsible for compensating the branch’s depositors on behalf of the deposit guarantee fund of the bank’s home country.

The European Banking Authority (EBA) has established a Task Force on Deposit Guarantee Schemes (TFDGS) and thematic sub-working groups under the Resolution Committee. The objectives of international cooperation include a reassessment of the Deposit Guarantee Schemes Directive and the execution of a peer review concerning loading tests for the EU countries’ deposit guarantee schemes. The Authority contributes actively in these efforts, and in doing so, it also reinforces its expertise in topics related to deposit guarantee.

The European Forum of Deposit Insurers (EFDI) and the International Association of Deposit Insurers (IADI) work actively to enhance the effectiveness of and cooperation between deposit guarantee systems and to promote exchange of information, experiences and expertise. More information on these organisations and lists of their member countries are available on the organisations’ websites:

 - European Banking Authority (EBA)
 - European Forum of Deposit Insurers (EFDI)
 - International Association of Deposit Insurers (IADI)

The Financial Stability Authority participates in the work of the following committees and working groups of EBA, EFDI and IADI:

 

EBA

 
Resolution Committee Director General Tuija Taos
Task Force on Deposit Guarantee Schemes Economist Riku Thilman                                                 

 

 

 

 

 

EFDI

 

General Assembly

Mermber, Director General Tuija Taos
Deputy member, Head of Administration and Deposit Guarantee Unit Saija Kuivalainen

EU Committee

Director General Tuija Taos
Head of Administration and Deposit Guarantee Unit Saija Kuivalainen

- Cross-Border Working Committee IT System Economist Kari Hietaniemi

Research Working Group

 

- Subgroup Risk Based Contributions

Economist Riku Thilman

- Subgroup Stress Tests

IT System Economist Anna Kanninen

Banking Union Working Group

Economist Riku Thilman

Public Relations and Communications (PR) Committee

Communication Officer Jouni Flink

 

IADI

 

General Meeting                                          

Member, Director General Tuija Taos
Deputy Member, Head of Administration and Deposit Guarantee Unit Saija Kuivalainen

Europe Regional Committee  

Director General Tuija Taos
Head of Administration and Deposit Guarantee Unit Saija Kuivalainen