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Now showing items 1-11 of 11
  • (2012)
    Bank of Finland. Bulletin. Financial stability 2/2012
    Bank of Finland Financial Stability Report 3 Summary 4 Operating environment 7 Banking and insurance sector 19 Financial market infrastructure 33 Financial system policy 39 Appendix 52 Karlo Kauko Countercyclical capital buffers in Finland 53 Päivi Heikkinen Kari Kemppainen Changes in payment and settlement systems require effective risk management 61 Juha Kilponen - Helinä Laakkonen - Jouko Vilmunen The effects of debt crisis-related policy decisions in European sovereign bond markets 67
  • (2011)
    Bank of Finland. Bulletin. Financial stability 2
    Preface 1 Summary 2 Operating environment 6 Banking and insurance sector 17 Financial market infrastructure 30 Financial system policy 36 Appendix. Infrastructure critical to the Finnish financial market 48
  • (2013)
    Bank of Finland. Bulletin. Financial stability 2
    Bank of Finland's Financial Stability Report 3 Summary 4 Operating environment 7 Banking and insurance sector 21 Financial market infrastructure 33 Financial system policy 42 Appendix 54 Pertti Pylkkönen - Eero Savolainen The situation of SME finance in Finland 55 Jukka Vauhkonen - Hanna Westman Finland must be prepared to impose systemic capital requirements on banks 65 Heli Snellman - Eero Tölö Payment transfers measure the pulse of the financial markets 77
  • Bank of Finland (2014)
    Bank of Finland. Bulletin. Financial stability 2
    Bank of Finland's Financial Stability Report 3 Preface 4 Risks related to economic and credit cycles 7 Financial system risk resilience and structural risks 25 Financial system policy 47 Appendix 56 Karlo Kauko - Jukka Topi - Jukka Vauhkonen How should the countercyclical capital buffer requirement be applied? 57
  • Heikkinen, Päivi; Kemppainen, Kari (2012)
    Bank of Finland. Bulletin. Financial stability 2
    Integration of the Finnish financial system into the global markets is reflected for example in the increasing provision of critical infrastructure services from abroad. Market integration may, through economies of scale, lower transaction costs. The challenge is to ensure that the level of domestic services does not decline and that efficiency gains are maintained. Market participants decisions on payment and settlement systems are strategic: they define the longer-term future operating conditions for the markets and the service level of the infrastructure. The impacts of these decisions therefore require thorough analysis, from the perspective of both individual participants and the entire market. The Bank of Finland assesses infrastructure solutions at the system-level and induces change, where necessary.
  • Kauko, Karlo (2012)
    Bank of Finland. Bulletin. Financial stability 2
    Banks have been found to step up their credit supply in a cyclical upswing and to cut it back in a downswing. This tends to both amplify cyclical fluctuations and increase the threat of banking crises. According to the relevant draft directive, in order to ease this procyclicality problem, authorities could tighten the capital adequacy requirement in response to an overly fast credit stock growth. Internationally proposed criteria for setting an additional capital requirement may not perhaps be suitable for a country like Finland that is sensitive to economic fluctuations.
  • Vauhkonen, Jukka; Westman, Hanna (2013)
    Bank of Finland. Bulletin. Financial stability 2
    The structure of the Finnish banking system is vulnerable, due to the banking system s growing size, high degree of concentration, strong national and Nordic interconnectedness, and the systemic importance of some banking groups. Finnish authorities must be prepared to impose either on all banks or some banks additional capital requirements allowed under the EU s Capital Requirements Directive (CRD).
  • Kauko, Karlo; Topi, Jukka; Vauhkonen, Jukka (2014)
    Bank of Finland. Bulletin. Financial stability 2
    The countercyclical capital buffer requirement is one of the new macroprudential instruments that will come into use in Finland. It enables the strengthening of the banking sector’s resilience to systemic risks resulting from excessive credit growth. In setting the requirement, strong emphasis should be placed on a small range of indicators to be selected, defined and published in advance. In contrast, reducing or releasing the buffer should primarily be based on judgment by the relevant authorities.
  • Snellman, Heli; Tölö, Eero (2013)
    Bank of Finland. Bulletin. Financial stability 2
    The euro led to the integration of the money markets, enabling banks to flexibly obtain liquidity from each other across borders. During the crisis, however, interbank money markets have faded. Cross-border payments between Finnish and debt-crisis country banks have diminished. Besides balance sheet data, payment transactions provide an interesting channel for monitoring activity in the money markets and in the broader economy, too. Changes in the volumes and values of payment transactions between the parties involved are rapidly visible and may give early signs of changing patterns in behaviour. Payment transfers are actually a kind of measure of the pulse of the markets if unforeseen changes occur in the pulse, the causes for such volatility deserve closer scrutiny.
  • Kilponen, Juha; Laakkonen, Helinä; Vilmunen, Jouko (2012)
    Bank of Finland. Bulletin. Financial stability 2
    The article discusses the effects of policy decisions related to the management of the European debt crisis on long-term government bond yields in seven euro area countries. According to the results, some of the policy decisions have had a significant impact on sovereign bond yields and have succeeded in increasing stability. As uncertainty is high during crisis, it is important that policy measures are as concrete and as transparent as possible, as is the case for the ECB s long-term refinancing operations. However, temporary liquidity support is not enough to stabilise the markets; rather, confidence is gained by fiscal consolidation and improved solvency.
  • Pylkkönen, Pertti; Savolainen, Eero (2013)
    Bank of Finland. Bulletin. Financial stability 2
    The financing situation of Finnish small and medium-sized enterprises has remained fairly robust compared to other EU countries. However, access to finance and financing terms and conditions are deteriorating, which has already been reflected in increased margins on smaller corporate loans in particular.