Browsing by Subject "cash"

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  • Bank of Finland (2020)
    Bank of Finland. Annual report
    ANNUAL REPORT 4 MONETARY POLICY 5 FINANCIAL STABILITY 35 MONEY AND PAYMENTS 54 FINANCIAL ASSET MANAGEMENT 70 INFLUENCE AND COOPERATION 80 SOCIAL RESPONSIBILITY 102 ACTIVITIES AND STRATEGY 135 BANK OF FINLAND IN A NUTSHELL 137 THE BANK OF FINLAND FOSTERS ECONOMIC STABILITY 138 DIVISION OF RESPONSIBILITIES BETWEEN MEMBERS OF THE BOARD 141 BANK OF FINLAND OBJECTIVES AND RESULTS FRAMEWORK 144 FINANCIAL STATEMENTS 150 BALANCE SHEET 151 PROFIT AND LOSS ACCOUNT 154 THE BOARD'S PROPOSAL ON THE DISTRIBUTION OF PROFIT 156 ACCOUNTING CONVENTIONS 157 NOTES ON THE BALANCE SHEET 166 NOTES ON THE PROFIT AND LOSS ACCOUNT 195 APPENDICES TO THE FINANCIAL STATEMENTS 208 NOTES ON RISK MANAGEMENT 210 AUDITOR'S REPORT 217 STATEMENT REGARDING THE AUDIT 219 ORGANISATION 222
  • Bank of Finland (2021)
    Bank of Finland. Annual report
    OPERATIONS AND STRATEGY 4 BANK OF FINLAND IN A NUTSHELL 6 BANK OF FINLAND STRATEGY UPDATED IN 2020 7 DIVISION OF RESPONSIBILITIES BETWEEN MEMBERS OF THE BOARD 12 STRONG EXPERTISE IS THE CURRENCY OF STABILITY 15 THE BANK OF FINLAND’S BUDGET FOR 2021 AND OPERATING EXPENSES 20 MANAGING ENVIRONMENTAL IMPACTS: COVID-19 HAS CUT THE BANK OF FINLAND’S EMISSIONS 26 ANNUAL REPORT 29 MONETARY POLICY 30 FINANCIAL STABILITY 67 CASH AND PAYMENTS 91 MANAGEMENT OF FINANCIAL ASSETS 116 ENGAGEMENT AND COOPERATION 138 SUSTAINABILITY AT THE BANK OF FINLAND 165 FINANCIAL STATEMENTS 170 BALANCE SHEET 171 PROFIT AND LOSS ACCOUNT 174 THE BOARD'S PROPOSAL ON THE DISTRIBUTION OF PROFIT 176 ACCOUNTING CONVENTIONS 177 NOTES ON THE BALANCE SHEET 184 NOTES ON THE PROFIT AND LOSS ACCOUNT 211 APPENDICES TO THE FINANCIAL STATEMENTS 222 NOTES ON RISK MANAGEMENT 224 AUDITOR'S REPORT 230 STATEMENT REGARDING THE AUDIT 231 ORGANISATION 234
  • Markkula, Tuomas; Takalo, Tuomas (2021)
    BoF Economics Review 8/2021
    Declining ATM numbers pose a challenge for competition policy and financial regulatory authorities. In this report we review the Finnish experience of regulating the competition in the ATM industry. To analyze the Finnish developments we extend the model of Kopsakangas-Savolainen and Takalo (2014), and draw on the existing literature and benchmarks from the selected other countries. We document how changes in the ATM market regulation and market structure has decoupled the ATM network size from the declining cash use in Finland. The Finnish regulation has almost exclusively focused on foreign fees, while in general it would be better to regulate interchange fees. If the optimal fee regulation is not feasible, the authorities could also consider quantity regulation.
  • Heikkinen, Päivi (2018)
    Bank of Finland Bulletin. Blog
    The near field communication (nfc-) technology has been available for quite some time, and we have predicted its triumph already for years. Introducing new technology in two sided markets is tricky. Two sided markets mean that both sides of the market – in this case the consumers who make the payments as well as the merchants who are the payees, must have sufficient preparedness to use new technology before its adoption becomes profitable. In Finland, some retail chains had latent nfc implemented in their payment terminals, but hesitated to start accepting nfc payments as the penetration of nfc-enabled payment cards was still too low. As there were very few nfc-enabled payment terminals, payment card issuing banks didn’t have the incentive for a big bang renewal of plastic, but provided nfc-chip cards to their customers gradually, in accordance with the normal renewals. Hence, the high expectations took 4–5 years to realise. Year 2017 shows, that nfc is really taking off in the Finnish market.
  • Sintonen, Meri; Takala, Kari; Hellqvist, Matti; Liikanen, Jenni (2021)
    Bank of Finland. Bulletin 2/2021
    The COVID-19 pandemic has accelerated changes in the use of payment methods in Finland. Nearly half of Finns have reduced their use of cash during the pandemic, and most believe that their use of cash has decreased permanently. Contactless and mobile payments as well as online shopping had already grown in popularity, but due to the COVID-19 pandemic people have begun to use them more widely. Nevertheless, even today cash remains an important means of payment for many people, and it still serves as a fall-back in the event of disruptions to electronic payments.
  • Hirvonen, Juhani; Virén, Matti (1996)
    Suomen Pankki. A 97
    Tutkimus perustuu noin 5 700 yritykselle tehtyyn kyselyyn.Kyselyn suoritti Suomen Pankki keväällä 1995. Kyselyyn saatujen vastausten perusteella käy selvästi ilmi, että käteisrahan käyttö yrityssektorilla on edelleenkin hyvin yleistä.Teollisuuden ja palvelualojen yrityksillä on käteisrahaa noin 1.5 mrd. markkaa eli lähes 15 % siitä käteisrahasta, joka on pankkien ulkopuolella. Käteisrahan määrä vastaa siten yhden päivän liikevaihtoa Luku on verraten suuri, jos mittapuuna käytetään aiempia arvioita niin kotimaasta kuin ulkomailtakin. Eniten käteisrahaa on vähittäiskaupan ja muiden palveluiden piirissä.Sen sijaan rakennustoiminnassa ja osin teollisuudessa käteisrahan määrät ovat pieniä. Vaikka käteisrahan määrä kasvaakin toimipaikan koon mukaan, supistuu käteisrahan ja liikevaihdon suhde hyvin selvästi. Todella suurissa yrityksissä käteisrahan suhteellinen määrä onkin olemattoman pieni. Käteisrahan määrät ja käteisrahan käyttö, eli osuus suoritetuista ja saaduista maksuista, noudattavat varsin samanlaista kaavaa niin toimialoittain kuin yritysten toimipaikkojen koonkin suhteen tarkasteltuna. Kyselyn mukaan yritysten saamista maksuista suoritetaan yhä runsaat 17 % käteisrahalla. Yritysten suorittamista maksuista osuus on kuitenkin vain hieman vajaat 6 %. Luvut ovat sopusoinnussa sen kanssa, mitä esimerkiksi kotitalouksien maksutavoista tiedettiin etukäteen. Sama käy ilmi myös ulkomaisista tutkimustuloksista, vaikkakin niitä on poikkeuksellisen vähän käytettävissä. Se, että yrityksissä on niinkin paljon käteisrahaa kuin edellä todettiin, viittaa siihen, että Suomessa käteisrahan hallussapitoon ei liity mitään suurempia selvittämättömiä ongelmia tai paradokseja. Silti on tarpeen edelleenkin laatia arvioita sektoreittaisista käteisrahakassoista ja niihin liittyvistä tunnusmerkeistä. Näiden arvioiden perusteella voidaan taas laatia ennusteita ja arvioita tulevien vuosien kehityksestä. Näitä ennusteita tarvitaan paitsi käteisrahan valmistustarpeiden arviointia varten myös koko rahahuollon suunnittelua varten. Euroopan unionin talous- ja rahaliiton myötä ennusteiden tarve on ymmärrettävistä syistä erityisen ajankohtainen.
  • Harju, Anja; Snellman, Heli (2021)
    Bank of Finland Bulletin. Analysis
    Cash, banknotes and coins, is a familiar means of payment for everyone. The use of cash as a means of payment has declined and the use of cards has increased over the last twenty years. The coronavirus crisis has further reduced the use of cash, perhaps permanently. Even so, cash is still an important means of payment for many Finns. Cash also has some special features that electronic payment methods lack. In addition, cash is required as a fall-back in the event of disruptions in payments. Cash must be available and it must be possible to use cash for as long as people need and want it.
  • Kemppainen, Kari (2019)
    Bank of Finland Bulletin. Blog
    I was working last year at the European Central Bank in Frankfurt. My work involved helping to develop a unified European payments market, and I was myself able to benefit from the fruits of unified payments. For instance, I did not open an account with a local bank, but managed my payments easily from my Finnish bank account using the Internet and mobile banking. My salary was paid into my Finnish account, from where I paid my rent and other bills without difficulty.