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Kauppi: ECB’s comprehensive assesment sets the ball rolling on banking union

The bank health results published today shot the starting signal for the euro area banking union, says Piia-Noora Kauppi, Managing Director of the Federation of Finnish Financial Services.  The union is scheduled for launch on November 4th. The Comprehensive assessment conducted by the European Central Bank (ECB) confirms that Finnish banks are in good health. In late September, the Finnish Financial Supervisory Authority announced that the Finnish banking sector has strong capital adequacy. The sector’s profitability has improved despite the weak economic situation. 

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 FFI opposes nationalisation of the deposit guarantee fund

The Federation of Finnish Financial Services (FFI) opposes the idea of merging the Deposit Guarantee Fund under a new national Resolution Authority, proposed today by a Ministry of Finance working group in its report. In FFI’s view the Finnish financial sector does not require a new national resolution authority. One of the main reasons is that the crisis resolution operations of the largest credit institutions will soon be run by the Single Resolution Board in Europe..

 Request for information of a new urgent payment system


​The Finnish banking community requests information from potential suppliers of a new urgent payment system.

Finnish banks’ requirements for the new payment system are described in a separate attachment. READ MORE


 FFI's position statements for EU parliament


The Federation of Finnish Financial Services has 13 position statements for the upcoming EU term 2014–2019. In our opinion there is a major risk of overregulation in the EU. It suppresses financial activity and hinders economic growth. Public finances are in crisis in too many member states, decision-making falters, and commitments are not fulfilled.

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Federation of Finnish Financial Services

Bulevardi 28
FI-00120 Helsinki

What is FFI?

FFI is a trade body which represents financial
companies. Our objective is to secure a benign
operating environment, well-functioning financial
market and effective payment systems. We also
promote loss prevention in addition to social
welfare and safety.

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