The Financial Stability Authority (FFSA) has launched a project to develop a Deposit Compensation Payout System, tasked to create the processes and build the necessary systems for data collection on deposits and payment of deposit compensations out of the Deposit Guarantee Fund.

Under chapter 5, section 10 of the Act on the Financial Stability Authority, FFSA must pay compensation to depositors within 7 working days of its decision, as referred to in section 9, on payment of compensation out of the assets of the Deposit Guarantee Fund. Under chapter 5, section 2 of the Act, deposit banks have an obligation to submit to the Authority, on request, information on eligible and guaranteed deposits, and to build in-house systems for this purpose. The transition to swift payment is subject to a transitional period running until the end of 2019. However, there is no transitional period for banks’ obligation to provide information.


During the pre-design and design phase of the project, specifications for the data collection and reporting process were formulated in close cooperation with the relevant sector. In addition, the prospects for taking advantage of common central government solutions were explored, and presentations of the process and system framework for deposit compensation payout were drafted. The aim is to launch the implementation project of the Deposit Compensation Payout System in autumn 2017 so as to ensure that it will become operable towards the end of 2018.


The project task force commenced operations in May 2016. The task force includes representatives of the deposit banks and Finance Finland as well as the Financial Stability Authority. The task force jointly formulated specifications for the electronic Single Customer View (SCV) reporting on guaranteed deposits and made preparations for the first round of testing of the reporting process (May 2017). The task force will continue to convene, as necessary, during the implementation project when preparations for the following round of testing are launched.


The system framework under construction comprises the following elements:

  • data collection from banks and depositors
  • a system for validation, processing and creation of the necessary data files
  • payment of compensations
  • decisions on compensations.

The Deposit Compensation Payout System takes advantage of the common Services (identification, authorisations and messages) for the central government used in the national architecture for digital services for purposes of both collecting data from depositors and delivering decisions on compensations to depositors. For further information on the national architecture for digital services, including the services available, please see the website

For further information,

please contact the project manager, IT Project Manager, Deposit Guarantee Expert, Saija Kuivalainen
tel. +358 295 253 532