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Financial Stability Authority as a deposit guarantee authority

Information on the Deposit Guarantee Fund

The Financial Stability Authority administers the Deposit Guarantee Fund, which is a national fund consisting of payments collected from deposit banks registered in Finland.

International cooperation

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 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 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 EFDI and IADI:
 

EFDI

 

General Assembly

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

EU Committee

Director General Tuija Taos

- 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

Head of Administration and Deposit Guarantee Unit Saija Kuivalainen

Public Relations and Communications (PR) Committee

IT System Economist Anna Kanninen

 

IADI

 

General Meeting                                

Director General Tuija Taos
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