Finland:Financial System Stability Assessment

Author: International Monetary Fund. European Dept.

Finland: Financial System Stability Assessment

Volume/Issue: Volume 2023 Issue 039

Publication date: January 2023

ISBN: 9798400232176

$20.00

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Topics covered in this book

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Banks and Banking , Finance , Economics- Macroeconomics , Money and Monetary Policy , International - Economics , Business and Financial , MoSAH FIN-FSA , PIC solvency regulation , independence of the FIN-FSA , SREP assessment , FIN-FSA's independence , B , banking sector resilience , Financial Sector Assessment Program , Macroprudential policy , Credit , Financial sector stability , Baltics , Global

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Summary

Finland has further improved the regulation and supervision of its financial sector since the 2016 FSAP, in part driven by European legislation and institutions. The size of the banking sector increased significantly in 2018 with the redomicilation of Nordea. Finland weathered the COVID-19 pandemic well relative to other economies, with fiscal support and interventions from the authorities. However, Finland is now navigating a weaker economic outlook given the war in Ukraine and ensuing energy crisis, despite limited direct financial exposures to Russia.