Reporting requirements related to the deposit guarantee scheme
Who do the reporting requirements apply to?
Deposit banks must be constantly prepared to provide the Financial Stability Authority with the necessary information on depositors and accounts for the potential payment of deposit guarantee compensation. The reporting requirements only apply to deposit banks. Depositors do not need to report their account information to the Financial Stability Authority even in a compensation event.
What do deposit banks need to report?
The law requires that, in a compensation event, a deposit bank must report the necessary information on depositors and accounts to the Financial Stability Authority to facilitate the payment of deposit guarantee compensation.
The banks’ reporting capacity is developed annually in close cooperation with deposit banks both bilaterally and in the deposit guarantee reporting cooperation group led by the Authority. The cooperation group includes representatives from all Finnish deposit banks and the Financial Stability Authority.
The experts responsible for banks’ reporting to the authorities can obtain more detailed reporting instructions by contacting the Financial Stability Authority by e-mail at talletussuoja(a)rvv.fi.