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In accordance with the decision of the Parliament:
This law provides for the right to exercise credit institutions and the requirements and enforcement of such activities. The law also provides for the right to engage in other business activities where repayable funds are acquired from the public.
The right of a foreign credit institution to operate credit institutions in Finland and the requirements for such activities are laid down in Article 12 of this Chapter, Article 2 (2) and Articles 16 to 19 of Chapter 2.
On the application of this law in the investment services (18/07/2012) Shall be governed by Chapters 6 to 8 of the Investment Services Act. (19/12/199S)
The requirements of the credit institution's financial position are laid down in Regulation (EU) of the European Parliament and of the Council on the prudential requirements of credit institutions and investment firms and amending Regulation (EU) No 648/2012 No 575/2013 (the EU Capital Requirements Regulation And technical standards adopted by the European Commission Regulation or Decision referred to therein. In addition, the provisions on credit institutions are the right to exercise credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and Directives 2006 /48/EC and 2006 /49/EC In Directive 2013 /36/EU of the European Parliament and of the Council repealing Credit institutions directive , in technical standards adopted by a European Commission Regulation or Decision.
In addition to this law, a credit institution is governed by a law on commercial banks and other public limited credit institutions (2002) , from a savings bank in a savings bank (1502/2001) , a cooperative credit institution with a law on cooperative banks and other credit institutions (423/2013) And the law on the mortgage association in the law on mortgage associations (936/1978) .
The credit institution's right to engage in mortgage lending is governed by the law on mortgage lending (688/2010) .
The obligation for a credit institution to be part of an investor compensation fund is laid down in the investment facility.
The safeguarding of the activities of the deposit bank in financial difficulties is governed by the Law on the Fund (19/09/1992) And the Law on the temporary suspension of the deposit bank (1509/2001) .
A credit institution providing investment services for investment services is governed by Article 4 of Chapter 1 of the Investment Services Act.
The credit institution's resolution is governed by the law on the resolution of credit institutions and investment firms (19/04/2014) (hereinafter ' the Crisis resolution , and establishing uniform rules and a harmonised procedure for the resolution of credit institutions and certain investment firms in the framework of the Single Resolution Mechanism and the Single Resolution Fund and Regulation (EU) Regulation (EU) No 806/2014 of the European Parliament and of the Council amending No 1093/2010 (hereinafter referred to as ' the EU Resolution Regulation . (19/12/199S)
Law on the State guarantee fund 379/1992 Has been repealed by L, repealing the Law on the Government Guarantee Fund 22/2014
Compliance with this law and its provisions and regulations will be subject to supervision by financial supervision.
By way of derogation from paragraph 1 and Article 4, compliance with the provisions of Chaos 3 and 6 to 11 and of the acts adopted pursuant thereto shall be monitored by the European Central Bank (hereinafter referred to as: EKP , Council Regulation (EU) No 1024/2013 laying down specific tasks for the European Central Bank concerning policies relating to the prudential supervision of credit institutions, hereinafter referred to as: The yvm Regulation, By credit institutions whose supervision has been transferred to the ECB in accordance with the yVM Regulation. Financial supervision and the division of competence of the ECB in the assessment of the suitability of the credit institution referred to in Chapter 3 for the assessment of the suitability of the shares and of the shareholders of the credit institution, in accordance with Chapter 4 and the variable capital requirement in accordance with Section 4 of Chapter 10, And the ECB's right to impose administrative penalties for breaches of the EU Capital Requirements Regulation as referred to in Chapter 20, are laid down in the yvm Regulation.
What is the law providing for the role of financial supervision in the supervision of the second branch of the EEA credit institution in Finland and the role of the financial supervision in the credit institution's second member of the European Economic Area ( EEA State ) , shall apply to the ECB where the supervision of a foreign EEA credit institution or credit institution is transferred to the ECB within the meaning of paragraph 2.
The supervision of the central Community of the consortium under the supervision of the credit institutions of the depositories of deposit banks is governed by the law of the consortium of deposit banks (599/2010) .
Financial supervision cooperation with the European Banking Authority shall be governed by the supervision of credit institutions.
The financial supervision website shall clearly indicate the credit institutions and their parent undertakings for which the ECB is responsible for supervision or supervision on a consolidated basis and, respectively, the Financial Supervisory Authority, in accordance with the YVM Regulation. In addition, the Internet site shall clearly indicate the cooperation arrangements agreed between the ECB and the Financial Supervisory Authority under the supervision and supervision of credit institutions.
Financial supervision shall be supervised by a credit institution which is the parent undertaking of the consolidation group, on the basis of its consolidated financial position, as provided for in the EU Capital Requirements Regulation (crd) and hereinafter referred to in this Act. The supervision of a pool of deposit banks on the basis of the consolidated financial position of the pool is governed by the law of the depositary of deposit banks.
Paragraph 1 shall also apply to the credit institution whose parent entity has its registered office:
1) in Finland, which is the largest of its subsidiaries in the balance sheet total;
2) in another EEA State and:
(a) the home State of the parent undertaking does not have a foreign credit institution belonging to the consolidating group; and
(b) the credit institution's balance sheet total exceeds the balance sheet total of any other subsidiary or foreign subsidiary of the parent undertaking with its head office in the EEA State;
(3) is a subsidiary of a credit institution referred to in paragraphs 1 or 2 with a subsidiary or associate in a credit institution, investment firm or management company authorised in a Member State other than the EEA State;
(4) for which financial supervision has agreed with the authorities of other EEA States in charge of supervision of foreign credit institutions belonging to the consolidating group under Article 13 of Chapter 11; The supervision of a credit institution as supervisory authority responsible for the supervision of a credit institution and that the Finnish law applies to supervision on a consolidated basis.
On application by a credit institution referred to in paragraph 1 or in accordance with Article 15 (1), the financial supervision may decide that the parent undertaking within the meaning of paragraph 2 shall not be considered as a parent undertaking for the purposes of this law and the EU solvency regulation. The holding entity, which is at the same time a law on the supervision of financial and insurance groups (699/2004) The holding entity referred to in paragraph 1 (12), to the extent that the requirements of the group's financial position are equivalent to that law and the EU Solvency Regulation. Financial supervision shall, before the decision referred to in this paragraph, request an opinion from the relevant supervisory authorities referred to in Article 2 (1) (14) of the Law on the supervision of financial and insurance groups.
In addition, the provisions of this Article shall not apply where the financial supervision has agreed with the other authorities responsible for supervision of foreign credit institutions belonging to the other consolidating group under Chapter 11 of Chapter 11: The competent authority is responsible for the supervision of the credit institution's consolidated supervision.
Credit institutions operation For the purposes of this law, the business of receiving repayable funds from the public and providing for own account or other forms of financing.
The financing referred to in paragraph 1 shall not constitute a payment period for the purchaser of the goods or services to the purchaser of the goods or services and shall not be financed exclusively to undertakings belonging to the same group of undertakings which do not act in accordance with paragraph 1. Of this Regulation.
With repayable funds For the purposes of this law, means the assets entered in the transaction.
Required with repayable funds Means, in this Act, non-periodic repayable funds which, under the terms of the contract, may be terminated immediately or at the end of a maximum period of 30 days, as well as repayable funds, The maturity of which is not more than 30 days, or which may be terminated before the due date, in exceptional circumstances other than those specified in the terms of the contract.
Credit institution Is an undertaking licensed in accordance with Chapter 4 for credit institutions. A credit institution may be a deposit bank or a credit institution.
External credit institution For the purposes of this law, a foreign undertaking which predominantly pursues a credit institution and is supervised in a manner comparable to that of a credit institution under this law.
External EEA credit institution For the purposes of this law, a foreign credit institution which has its registered office in a Member State other than Finland and the authorisation of credit institutions issued by the competent authority of that State.
Credit institution of a third country For the purposes of this law, a foreign credit institution having its registered office in a non-EEA State and an authorisation granted by the competent authority of that State to credit institutions.
Deposit bank Is a credit institution authorised to receive deposits from the public.
The deposit bank may be a limited liability company, a cooperative or a savings bank.
The deposit guarantee obligation to be paid by the deposit bank and the deposit guarantee scheme is governed by the Law on the Financial Stability Board (195/2014) . (19/12/199S)
Deposit Referred to in this Act is the deposit referred to in Article 3 (11) of the Law on the Financial Stability Board.
The word 'deposit' shall be used for marketing purposes either as such or as a gateway only for the financial assets covered by the compensation deposit referred to in paragraph 1. The marketing of other repayable funds from the public shall not, in any case, be dealt with in a manner which may make it difficult to distinguish deposits from other repayable funds.
Credit Community Is a credit institution which can receive other repayable funds from the public other than deposits.
The credit community may be a limited liability company, a cooperative or a mortgage association.
The financial institution Referred to in this Act the financial institution referred to in Article 4 (1) (26) of the EU Solvency Regulation.
Home State For the purposes of this law, the State in which the foreign credit institution has its registered office and which has been granted by the competent authority to the credit institution as a credit institution.
Side movement Means a credit institution or a foreign credit institution which is legally part of a credit institution or a foreign credit institution and where a credit institution is engaged in a credit institution or a foreign credit institution; or Any other business permitted by the credit institution.
Service undertaking Referred to in this law the ancillary services undertaking within the meaning of Article 4 (1) (18) of the EU Solvency Regulation.
Ownership Community For the purposes of this law the entities referred to in Article 4 (1) (20) to (21) of the EU Solvency Regulation.
Financial supervision shall, after receiving the information that a parent undertaking other than a credit institution or an investment firm has become a parent undertaking of a credit institution, shall immediately decide whether the undertaking is to be regarded as a holding entity.
Financial supervision shall keep a list of holdings which are the parent undertakings of a consolidation group which, under this law, are subject to supervision by the Financial Supervisory Authority. Financial supervision shall transmit the list and the amendments thereto for information to the foreign EEA supervisory authorities referred to in Article 6 (5) of the Law on Financial Supervision (hereinafter referred to as: EEA Surveillance Authority , the European Commission and eba. (19/12/199S)
Consolidation group For the purposes of this law, a group which consists of a parent undertaking of a group, a credit institution or a foreign credit institution, the parent entity of such a credit institution as a parent entity other than the investment firm ( Parent undertaking of the consolidation team ) As well as subsidiaries of the parent undertaking which are credit institutions or foreign credit institutions, investment firms or investment firms, financial institutions or service undertakings ( Subsidiary of the consolidation team ). For the purposes of this law, the Group, the parent undertaking and the subsidiary shall: (136/1997) , the parent undertaking and the subsidiary undertaking, the parent undertaking and the subsidiary undertaking.
Nuclear capital Means the core capital referred to in Article 26 of the EU Capital Requirements Regulation.
Externalisation For the purposes of this law, a credit institution's activities in relation to the operation of a credit institution, on the basis of which the other service provider produces a function or service to the credit institution which the credit institution itself would have carried out.
European Banking Authority Referred to in the Act establishing the European Supervisory Authority (European Banking Authority) and amending Decision No 716 /2009/EC and repealing Commission Decision 2009 /78/EC of the European Parliament and of the Council No 1093/2010 (the European Banking Supervision Regulation , the European Banking Authority.
The European Banking Committee Referred to in this Act, the European Banking Committee referred to in Commission Decision 2004 /10/EC establishing the European Banking Committee.
The European Systemic Risk Board For the purposes of this Act, the European Parliament and Council Regulation (EU) No 1092/2010 of the European Parliament and of the Council on the supervision of macro-prudential oversight of the financial system in the European Union and establishing a European Systemic Risk Board The systemic risk committee.
The wiring For the purposes of this Law, the Board of Directors of the credit institution and, where the institution has a Management Board, a Management Board, the Executive Director and any direct authority of the Executive Director, who are senior management positions of the credit institution; or Actually lead to the activities of the credit institution.
With a functioning leadership For the purposes of this law, the credit institution's Executive Director and all those operating under the direct authority of the Executive Director, who are senior management positions of the credit institution or actually manage the credit institution's activities.
Credit institutions shall not operate without authorisation within the meaning of this Law.
A non-credit institution shall not engage in a business where repayable funds are received from the public by means other than the issue of the issue of securities (746/2012) in Chapter 2, Article 1 Unless otherwise provided for in Article 3 of this Chapter.
Paragraph 1 shall also apply to a credit institution, including a foreign EEA credit institution and a branch of a third-country credit institution in Finland, which is authorised to operate a credit institution in Finland under this law.
Paragraph 2 shall be without prejudice to:
1) The right of Suomen Pankki to receive repayable funds from the public;
(2) the right of a management company to pursue its investment fund (1999) The investment fund activities referred to;
(3) the right of the investment firm and the management company to provide tied long-term savings law; (19/03/2009) Contracts for savings;
(4) the right of an insurance institution to pursue an insurance company law; (18/0/2008) The insurance business;
5) the right to provide payment services for payment institutions; (197/2010) In accordance with
(6) the right of aifm to manage the law on alternative fund managers; (162/2014) Of the alternative fund.
In addition, notwithstanding Article 2, the share company and the cooperative are to obtain repayable funds from the public by providing non-repayable debt certificates. Where such debt certificates are offered to the general public by means other than the issuing of securities for securities issued by the securities market, the stock company or the cooperative shall draw up and publish the interim financial statements, the financial statements and In accordance with Section 5-13 of Chapter 7 of the Securities and Markets Act. The exemption from the reporting obligations provided for in this Article shall apply to Article 18 of Chapter 7 of the Securities and Markets Act.
The right of a foreign investment firm, a management company, an insurance company and a payment institution to provide services in Finland is regulated separately.
Non-depository banks, the Bank of Finland or the Nordic Investment Bank may only use the word 'bank' in its operations, or otherwise, if it is obvious that the use of the word does not refer to the operation of the deposit bank.
Notwithstanding the provisions of paragraph 1, the undertaking may use its activity to refer to the activities of the deposit bank belonging to the same group or pool of deposit banks.
Paragraphs 1 and 2 shall apply mutatis mutandis to the ancillary activity and to the secondary identification.
In addition, the use of a foreign credit institution in Finland is provided for in Section 9 of Chapter 18.
Any person intending to acquire, directly or indirectly, a credit institution's shares, units, units or shares/units shall be informed in advance of the financial supervision if his ownership:
(1) the acquisition would represent at least 10 % of the equity or equity capital of the credit institution;
2) would be so large that it would correspond to at least 10 % of the voting rights produced by all shares or units; or
(3) otherwise justify recourse to the ownership of the credit institution referred to in paragraph 2 or otherwise appreciable.
If the ownership referred to in paragraph 1 is to be increased in such a way that the ownership of the acquisition would be at least 20 %, 30 % or 50 % of the credit institution's share or share capital or the equity fund or ownership would be equivalent to the same proportion of all A subsidiary of the shares or units, or a subsidiary undertaking, shall also be informed in advance of the financial supervision.
For the purpose of calculating the participation and the voting rate referred to in paragraphs 1 and 2, Section 4 of Chapter 2 and Articles 4 to 7 of Chapter 9 of the Securities and Markets Act shall apply. For the purposes of this paragraph, no account shall be taken of shares and units which, for a period of up to one year, have been acquired by the reporting obligation in connection with the issuance of securities or under a market guarantee and under which: The reporting obligation does not have the right to exercise the right to vote in the Community or otherwise affect the activities of the Community management.
The notification referred to in paragraphs 1 or 2 shall also be made if the number of shares or shares held is falling below the holding provided for in paragraphs 1 or 2, or the credit institution ceases to be a subsidiary undertaking.
The credit institution and its owner shall report to the financial supervision at least once a year the owners and the size of the holdings of the holdings referred to in paragraphs 1 and 2, and shall notify without delay the Changes. For a company whose securities are traded under the law on trading in financial instruments (748/2012) Article 2 of Chapter 1 , the information referred to in this paragraph shall be communicated to the European Securities and Markets Authority referred to in Article 13 of Chapter 2 of the Securities and Markets Act.
The notification referred to in paragraphs 1 and 2 shall contain the necessary information and explanations:
1) the reporting obligation and the reliability and financial situation of the person concerned;
(2) the obligation of notification of ownership and other interests in the credit institution;
(3) the procurement contracts, the financing of the acquisition and, in the case referred to in paragraph 2, the objectives of ownership.
The information to be attached to the notifications referred to in paragraphs 1 and 2 shall be subject to more detailed provisions by the Government Decree.
The right of financial supervision to submit to the ECB a prohibition on the acquisition of a holding referred to in Article 1 of this Chapter is governed by the law on financial supervision (878/2008) in Article 32a And Article 32b of the Act concerning the adoption of the prohibition decision.
The reporting obligation shall not acquire the shares or units referred to in Article 1 before the ECB has adopted a decision or decision pursuant to paragraph 1 of Article 32b of the Law on Financial Supervision. Otherwise specified in the reading.
The credit institution's authorisation to carry out a financial supervision application shall be granted by the ECB in accordance with the ECB Regulation and the ECB Regulations and Decisions adopted pursuant to it and this Chapter. Authorisation may be granted for the operation of the deposit bank or the credit community. The explanations to be attached to the application for authorisation are laid down by a decree of the Ministry of Finance.
Upon application by the deposit bank, the opinion of the Deposit Insurance Fund shall be requested. In addition, an opinion on the application for an authorisation shall be requested from the investor compensation fund referred to in the Investment Services Regulation where the credit institution may, according to its statutes or rules, provide investment services.
Where an entity applying for authorisation is a subsidiary of a foreign credit institution authorised in another EEA State, a subsidiary of a foreign company or a foreign undertaking assimilated to an investment firm or an insurance company, A subsidiary of the parent undertaking of a credit institution or any other foreign undertaking referred to above shall request the opinion of the relevant supervisory authority of that State. The opinion shall also be requested if the entity applying for authorisation is in the same natural or legal form as the foreign credit institution or other foreign undertaking referred to above. In the request for an opinion referred to in this paragraph, the opinion shall be requested, in particular, to assess the suitability of the shareholders and the reputation and experience of the directors involved in the management of another undertaking in the same group, and to inform the Any information relevant to the issue of the authorisation or supervision of a credit institution.
Where the information referred to in paragraph 1 subject to authorisation is subject to a material change in the information referred to in paragraph 1, the credit institution shall inform the Financial Supervisory Board of the changes. Financial supervision shall specify the reporting and content of the notification.
The financial supervision shall issue a proposal for a decision on the authorisation of a credit institution to the ECB within four months of receipt of the application or, where the application is incomplete, where the applicant has provided the necessary Documents and reports. However, the decision on authorisation shall always be taken within 12 months of receipt of the application.
Financial supervision shall have the right to include in the authorisation proposal the restrictions and conditions necessary for the supervision of the business of the credit institution, after consulting the applicant. Following the authorisation of a credit institution, the financial supervision may propose to the ECB an amendment to the terms of the authorisation.
If the draft authorisation decision has not been adopted within the period laid down in paragraph 1, the applicant may lodge a complaint. Complaints are made and processed, such as the complaint concerning the rejection of the application. Such a complaint may be lodged until a proposal for a decision or a negative decision has been adopted. Financial supervision shall inform the appeal authority of the proposal for a decision or against a negative decision if the decision has been made after the appeal. The other part of the appeal and the processing referred to in this paragraph shall be governed by the law on administrative law (18/06/1996) .
Authorisation shall be granted if, on the basis of the report received, it can be ensured that the owners and founders of the credit institution meet the requirements laid down in Article 4 and the credit institution's credit institution's activities and financial position in Chapters 5 and 10 Requirements. The authorisation may also be granted to the credit institution which is to be established before it is registered.
One which, directly or indirectly, holds 10 % or more of the credit institution's share capital or a share that generates at least 10 % of the voting rights generated by its shares, and the founder of the credit institution must be reliable.
It is not considered that the criteria set out in Article 32a (1) of the Financial Supervision Act may prohibit the acquisition of shares or units of a credit institution.
Licence shall also be granted in accordance with Council Regulation (EC) No 2157/2001 of Council Regulation (EC) No 2157/2001 on the Statute for a European Company responsible for an EEA State (SE), hereinafter referred to as: European company statute , a European company which intends to transfer its registered office in accordance with Article 8 of the Regulation. Upon application for authorisation, the opinion of the supervisory authority of that State shall be requested. The same applies to the creation of a European company by a merger with a registered company incorporated in another State registered as a European company in Finland. The provisions of this Article concerning the European Company Statute also apply to Council Regulation (EC) No 1435/2003 on the Statute for a European Cooperative Society (SCE), hereinafter referred to as: European cooperative regulation , the European Cooperative Society.
Financial supervision shall indicate the authorisation to be registered. The authorisation shall also be notified to the European Banking Authority. The authorisation granted to the company established and the European company transferring the home seat to Finland shall be registered at the same time as the company is registered.
In addition, the authorisation of the deposit bank shall be notified to the Deposit Guarantee Fund referred to in Chapter 14 and the credit institution providing investment services to the Investor Compensation Fund for the investment services.
A credit institution may commence its activities, subject to the conditions of the authorisation, immediately after the authorisation has been granted and the credit institution has provided the information referred to in Article 2 (2) to the Financial Supervisory Authority and, if the authorisation has been granted The company being set up, the company is registered.
A credit institution shall not start operations until it has submitted to the Financial Supervisory Board:
(1) a commercial register of a complete extract of a credit institution, including statutes or rules;
(2) the names of members and alternates of the Management Board and of the Board of Directors, the Executive Director and the Executive Director, and the names of the auditors and of the deputy auditors and relevant other information.
If a change occurs in accordance with paragraph 2, the new information shall be notified without delay to the Financial Supervisory Board.
Articles 26 and 27 of the Law on Financial supervision are laid down in Articles 26 and 27 of the Law on Financial supervision. Financial supervision shall indicate the withdrawal of authorisation to be registered. In addition, the withdrawal of the authorisation shall be notified to the European Commission, the European Banking Authority, the Deposit Guarantee Fund and the guarantee fund referred to in Chapter 13 of this Act and the Investor Compensation Fund if the credit institution is a member of the Fund.
By way of derogation from Article 26 of the Law on Financial Control, the decision to withdraw the authorisation shall be taken by the ECB under the yvm Regulation. In addition, Article 26 of the Financial Supervisory Law applies to the withdrawal of the authorisation.
Financial supervision shall inform the European Commission and the European Banking Authority of the requirements under this Chapter and the provisions adopted pursuant to it. The notification requirement to the ECB is provided for in the yVM Regulation and the regulations and decisions adopted pursuant to it.
The business of the deposit bank shall be:
1) the acquisition of deposits and other repayable funds from the public;
(2) other borrowing operations;
(3) credit and financial activities and other financial operations;
(4) financial leasing;
(5) payment service and other payment transactions;
6. The issuance of electronic money, the related data processing and the storage of data for the electronic data medium on behalf of another undertaking;
(7) charging;
(8) currency exchange;
(9) a notarial function;
(10) securities trading and other securities transactions;
(11) guarantee operations;
(12) credit operations;
(13) Housing shares/units and residential real estate related to housing savings;
(14) other activities comparable to or closely related to the activities referred to in paragraphs 1 to 13.
In addition, the deposit bank may, in accordance with its contract with the holder of the postal licence, manage the postal services and offer the deposit bank to the same group or association of deposit banks in connection with its management. Services.
The statutes or rules of the deposit bank shall state whether the deposit bank provides investment services within the meaning of Article 11 of Chapter 1 of the Investment Services Act.
The credit institution may carry out the business referred to in Article 1 (1) of this Chapter, except for the purchase of deposits from the public. The credit institution may receive other repayable funds from the public, other than deposits, in the context of the provision of payment services and the issuance of electronic money. The credit institution may engage in mortgage lending operations. The mortgage lending activity is governed by the law on mortgage lending.
The credit entity's statutes or rules shall state whether the credit entity provides investment services in accordance with Section 11 of Chapter 1 of the Investment Services Act.
For the purpose of the provision of a credit institution's payment service, the requirement to receive repayable funds shall be applied to the amount of the deposit provided for in Articles 6 to 10 of Chapter 15.
A credit institution may invest up to a maximum amount equal to 13 % of the balance sheet total of the credit institution's balance sheet. The shares and units held by a credit institution shall be treated as such in the calculation of the credit institution's loans to the real estate community and the guarantees provided by the credit institution in the same proportion as the credit institution 's The shares or other equity of the real estate entity owned by the real estate entity.
For the purposes of calculating the ratio referred to in paragraph 1, no account shall be taken of property or shares in the real estate entity which:
(1) have been taken over by a credit institution as collateral in the event of default; or
(2) is leased in the context of financial activities and the risk resulting from the depreciation of which has essentially been transferred to the lessee.
Financial supervision may, for a specific reason, be allowed to derogate from the requirement laid down in paragraph 1.
The credit institution shall inform the financial supervision of the information necessary to control the restriction provided for in this Article. Financial supervision may provide the provisions necessary for supervision on the content of the reporting obligation and on the frequency of such notification.
The property ownership referred to in Article 3 of the consolidated group's subsidiaries and subsidiaries shall not exceed the amount of 13 % of the consolidated balance sheet of the parent undertaking.
For the purposes of calculating the consolidated ratio referred to in paragraph 1, it shall not include credit to the real estate entity falling within the credit institution's consolidation group and the guarantees given on behalf of such a property entity if: The real estate entity is consolidated into a consolidated balance sheet.
The consolidated balance sheet of the credit institution referred to in paragraph 1 shall be drawn up in accordance with the balance sheet of the parent undertaking of the consolidation group and the subsidiaries of the consolidating group, as laid down in the Accounting Act and Article 10 of Chapter 12 of this Act. The preparation of consolidated financial statements.
For a specific reason, financial supervision may be exempted from the requirements of paragraph 1.
The credit institution referred to in Article 4 (2) of the consolidating group or the credit institution referred to in Article 1 4 (2) shall inform the financial supervision of the information necessary for the control of the restriction provided for in this Article. Financial supervision may provide for more detailed provisions on the content of the reporting obligation under this Article and on the frequency of notifications.
Cooperative law (421/2013) Article 11 of Chapter 16 Does not apply to a credit institution or a financial institution belonging to a credit institution.
A credit institution may lend a loan to the acquisition of its own and its parent's shares and shares, and shall take them as collateral within the limits laid down in paragraphs 2 to 4. The provision of a guarantee from the credit institution's assets for the payment of the loan above shall be treated as a loan.
A credit institution and a financial institution belonging to the same consolidation group shall receive, subject to paragraph 3, the (624/2006) Article 10 of Chapter 13 (1), Article 11 (1) of Chapter 16 of the Cooperative Act and (622/1947) (3) shall not, notwithstanding the provisions of Article 2 (6) of Chapter 1 of Chapter 1 of the Act on Trade in Financial Instruments, issue and take credit for the acquisition of shares and shares of the parent or parent undertaking, Where the loan or the taking of a pledge belongs to the normal business activities of a credit institution or a financial institution belonging to the same consolidation group, and where the loan is provided or the credit or financial institution has been provided. On the basis of normal conditions.
The credit institution may take on its own shares and shares in the parent company as collateral for the loan to finance their subscription, up to a maximum amount equal to 10 % of the rated entity, or if the pledge has been lent Shares or units of the parent undertaking of the undertaking which issued the parent undertaking.
A credit institution shall not give credit to a group of a group not belonging to the same consolidation group in order to acquire the shares or units of a company belonging to the consolidating group.
The provisions of this Article for a credit institution shall also apply to any other company belonging to the credit institution's consolidation group.
The provisions of this Article for shares and shares shall also apply to outstanding amounts, investment units, capital injections, capital loans, debentures and other commitments which are subordinated to the issuer's other Debts.
Articles 28, 52 and 63 of the EU Capital Requirements Regulation provide for the reading of the credit institution's own funds from the reading of the credit institution's own funds or of financial instruments belonging to the same consolidation.
A credit institution shall only acquire securitisation positions within the limits laid down in the EU Capital Requirements Regulation.
A credit institution shall have a description of the accounting system and other information systems and shall record its transactions in such a way that the financial supervision can adequately verify the accuracy of the data that the credit institution Shall be notified to the Financial Supervisory Board in accordance with the law and acts adopted pursuant to it.
The credit institution shall have a head office in Finland and at least one permanent establishment.
A credit institution may conduct its business through an agent or otherwise outsource its activities relevant to its business if it does not interfere with the risk management of the credit institution, internal control or otherwise significantly The business of the credit institution.
The activity shall be significant for the business of the credit institution if the error or lack thereof in its performance may materially impair the credit institution's functioning laws or regulations or regulations or credit institutions. Compliance with the terms of the authorisation, the financial position of the credit institution or the continuity of business.
The outsourcing of a significant activity shall be concluded in writing, indicating the content of the mandate and the duration of the contract.
A credit institution which, after authorisation, intends to conduct business through an agent or otherwise outsource an activity relevant to its business activities other than the same consolidation group or the pool of deposit banks Should be informed of the outsourcing prior to the financial supervision. Any significant changes in the contractual relationship between the credit institution and the outsourced activity shall be reported to the Financial Supervisory Board. Financial supervision may provide more detailed provisions on the content of the notification.
However, the notification referred to in paragraph 4 does not need to be made if the agent or other outsourced activity falls within the meaning of the law of the same consolidation group or of a consortium of deposit banks Association.
The outsourcing of the investment services provided by the credit institution is laid down in the investment facility.
The credit institution shall ensure that it receives the necessary information as required by the credit institution's regulatory oversight, risk management and internal control, and that it has the right to dispose of: Further information to the Financial Supervisory Authority and the Central Community of Deposit Banks, if the credit institution is under the supervision of the central entity.
A credit institution shall not have any significant interest in a natural or legal person to which the applicable laws, regulations or administrative provisions of the non-European Economic Area prevent the effective Supervision, and not elsewhere, where a significant link is otherwise likely to prevent the effective supervision of the credit institution.
A significant link shall refer to the close relationship referred to in Article 4 (1) (38) of the EU Solvency Regulation.
A credit institution or an undertaking belonging to the same consolidation group shall not acquire control, within the meaning of Article 5 of Chapter 1 of the Accounting Act, in a foreign undertaking other than the foreign EEA credit institution, In the EEA investment firm, a foreign EEA payment institution, a foreign EEA management company, a foreign EEA alternative fund manager or a foreign EEA insurance company, unless the company has informed the Financial Supervisory Board in advance Or where the financial supervision has prohibited the acquisition of 2 Within the period prescribed.
Financial supervision may, within three months of receipt of the notification referred to in paragraph 1, prohibit the acquisition referred to in paragraph 1 if the laws, regulations or administrative provisions applicable to the undertaking subject to the contract are: Would significantly impede effective supervision of the credit institution or its consolidation team.
Where a credit institution is part of a consolidation group whose parent undertaking is located in a non-EEA State, the credit institution's authorisation shall be subject to:
(1) the foreign authority has sufficient powers to supervise the entire consolidation team in a manner comparable to that provided for in this law; or
(2) it can be demonstrated that the consolidated solvency, the consolidated high customer risks, the internal control of the consolidation team and the risk control measures as well as the suitability and reliability of the ownership and management of the ownership community are consistent with this law; Requirements.
Financial supervision shall take a decision on whether a credit institution complies with the requirements of paragraph 1 if the credit institution does not have a parent undertaking in another EEA State and the credit institution's balance sheet total exceeds the credit institution's parent undertaking A balance sheet total of another foreign subsidiary, or a foreign subsidiary of a Finnish investment firm, which is domiciled in another EEA State.
Before taking a decision as referred to in paragraph 2, the financial supervision shall request its opinion on the consolidation group referred to in paragraph 1, in another EEA State or in the Finnish The foreign authorities responsible for the supervision of the investment firm and the European Banking Authority. In addition, the financial supervision shall, upon completion of the decision, inform those authorities, the European Commission and, if the consolidation group includes a foreign company domiciled in a Finnish investment firm with a registered office in another The EEA State, the European Securities and Markets Authority.
Paragraph 1 shall not apply to a credit institution whose consolidated supervision is carried out by the other EEA Surveillance Authority, if that authority has considered that the consolidating group fulfils the conditions laid down in paragraph 1.
Paragraphs 1 and 3 shall apply to the consolidating and consolidated supervision, to the financial and insurance group and its supervision accordingly.
A credit institution shall inform the financial supervision of transactions involving a credit institution as one of the parties and the following:
(1) an undertaking which belongs to a credit institution or is a holding company within the meaning of the accounting law of a credit institution or a company belonging to the same group;
(2) set up by a credit institution or another employer belonging to the same group of other employers, (1774/1995) The pension fund for which the persons covered by the activity are employed by the employer;
3) insurance fund (16/04/1992) For persons employed by a credit institution or another employer of another employer belonging to the same group.
The notification referred to in paragraph 1 shall be made at least quarterly from transactions with a value or, where a transaction of the same kind has been carried out for a period within the meaning of this Article, a cumulative value Exceeds EUR 1 million or 5 % of the own funds of the credit institution which is a party to the transaction, unless financial supervision agrees to a higher reporting limit.
Transactions within the meaning of this Article shall not be carried out under conditions which differ between independent parties in relation to the conditions commonly observed in similar transactions. The provisions of this paragraph shall not apply to the acquisition of the administrative services required by the group undertakings from a company belonging to the group or to the capital and debenture loans granted by the parent undertaking to the subsidiary which are necessary to: To strengthen the capital structure of the subsidiary and not to finance any other subsidiary where the subsidiary is an undertaking belonging to the same consolidation group or a financial or insurance undertaking belonging to the same financial and insurance group; and The parent undertaking generally takes care of the consolidation team or The financial management of the group.
Financial supervision may provide the detailed provisions necessary for the supervision of the transactions referred to in this Article.
The credit institution must ensure that its tasks are performed as smoothly as possible, including in exceptional circumstances, by taking part in the contingency planning of the financial markets and preparing in advance in exceptional circumstances and by other measures.
Where the tasks arising from Article 16 require measures which are clearly different from the activities of the credit institution which are normally deemed to be held and which entail substantial additional costs, such costs may be offset by security The law on security (1390/1992) From the Guarantee Fund.
A credit institution which intends to establish a branch in the rest of the EEA State shall inform the Financial Supervisory Authority in advance. The notification shall be accompanied by information on the activities planned and the information relating to the management of the branch. The credit institution providing investment services shall indicate how exposures to investors in non-residents of Finland are secured.
The financial supervision shall, within three months of receipt of the information referred to in paragraph 1, continue to inform the responsible supervisory authority of the State concerned and, at the same time, provide information on the credit institution's own funds Of the amount, the solvency ratio, the guarantee scheme for the protection of depositors, the protection system for the protection of investors or the absence thereof, as well as any other information necessary for the operation of the branch. The notification shall be notified to the credit institution.
Financial supervision shall reject the notification referred to in paragraph 2 if it finds that the financial situation and the administration of the credit institution do not meet the requirements laid down in this Act. A branch cannot be established if the financial supervision has refused to report. Financial supervision shall inform the European Commission and the European Banking Authority of the decision to refuse.
The credit institution shall notify the Financial Supervisory Authority and the EEA Surveillance Authority referred to in paragraph 1 in writing of the changes to the information referred to in paragraph 1 at least one month before they are implemented.
A credit institution which intends to establish a branch in a non-EEA State shall seek permission to set up a branch in the financial supervision. The authorisation shall be granted where there is sufficient control of the branch and if, in view of the management and the financial situation of the credit institution, the establishment of a branch is not likely to jeopardise the credit institution's activities. The application for authorisation shall be requested by the Bank of Finland. Financial supervision shall have the right, after consulting the applicant, to set the restrictions and conditions necessary for the operation of the branch.
The explanations to be attached to the licence application shall be governed by a decree of the Ministry of Finance.
The restriction and prohibition of the activities of the branch is governed by Articles 27 and 57 of the Financial Supervisory Law.
A credit institution intending to provide services within the meaning of Article 1 (1) of Chapter 5 without setting up a branch in another EEA State shall inform the financial supervision of the services it provides in advance.
Financial supervision shall, within one month of receipt of the notification referred to in paragraph 1, provide information to the supervisory authority of the State referred to in paragraph 1, together with its own statement as to whether the credit institution shall cover: The services in question in Finland.
A Finnish financial institution belonging to the same consolidation group may, after fulfilling the conditions for the establishment of a branch or the provision of services in the EEA State, establish a branch or otherwise provide services. The EEA State. Articles 1 and 4 shall apply in the establishment of a branch and the provision of services.
Financial supervision shall check the fulfilment of the conditions referred to in paragraph 1 and the conditions under which the financial institution fulfils the conditions to issue a certificate.
The financial institution shall inform the Financial Supervisory Board if, under the conditions of the financial institution, changes affecting the conditions referred to in paragraph 1 are affected. Financial supervision shall inform the supervisory authority of the State concerned if the financial institution no longer meets the conditions referred to in paragraph 1.
Where a credit institution intends to transfer its home place to another EEA State, as provided for in Article 8 of the European Companies Regulation or Article 7 of the SCE Regulation, the credit institution shall send a copy of the European Companies Regulation to the financial supervision (2) and (3) or the transfer plan and report referred to in Article 7 (2) and (3) of the European Cooperative Regulation, without delay after the credit institution has communicated the plan to be registered.
Where a credit institution intends to continue the activity of credit institutions in Finland after the transfer of the place of residence, it shall be subject to the activities of the foreign credit institution in Finland.
The registration authority shall not issue a European Company Law (742/2004) (5) or the European Cooperative Society (906/2006) (5), if the financial supervision has notified the Authority before granting the authorisation referred to in Article 9 (2) of the Statute of the European Company Statute or Article 9 (3) of the Statute of a European Cooperative Society, that the credit institution has not complied with the Provisions relating to the transfer of the place of origin or the continuation or cessation of activities in Finland. The permit may be issued before the deadline referred to in Article 16 (2) of Chapter 16 of the Companies Act or Section 6 (2) of Chapter 20 of the Cooperative Act only if the financial supervision has indicated that it does not object to the transfer of the seat.
The credit institution shall have comprehensive and proportionate management and control systems in relation to the quality, scale and complexity of its operation to ensure effective and prudent management of the credit institution. And the effective supervision of the credit institution's management by the government of the credit institution. The government must accept the credit institution's risk strategy and other strategic objectives and ensure that their compliance is reliably monitored.
The government must ensure that the credit institution's internal control systems are reliable. These include, at least, the procedures for financial reporting, the economy, operation, credit institution regulation and internal policies and the reporting obligation of the credit institution, and Control. The credit institution's risk-taking and risk management systems shall comply with the requirements of Chapter 9.
The management and operation of the credit institution shall be differentiated in such a way that conflicts of interest which may jeopardise the management of the institution effectively and in accordance with prudent business principles are avoided. The Chairperson of the Board of Directors of a credit institution shall not, without the authorisation of the Financial Supervisory Authority, be the President of the same credit institution, unless a credit institution has a supervisory board entrusted with the task of: Otherwise the duties of the government.
The Board of Directors shall regularly assess the efficiency of the management and control systems of the credit institution and take the necessary measures to address the deficiencies.
Where a credit institution has a board of directors, the provisions of this Chapter and Chapter 8a on the Management Board, to the extent that it has been entrusted to it by the statutes or by the statutes of the Board of Directors. (12/05/1280)
The provisions of this Chapter on the credit institution and its corporate governance arrangements shall apply to the parent undertaking of the credit institution's consolidation group, the other company belonging to the consolidating group and the management of the credit institution's consolidation team; - And control systems.
A credit institution's government shall have sufficient and diversified knowledge and experience in its tasks and experience in relation to the business and activities of the credit institution. The credit institution shall devote sufficient resources to familiarisation with the Board of Directors.
The Board of Directors shall adopt policies for the credit institution to promote the diversity of the composition of the government. The Board of Directors shall approve the objective of a balanced representation of the sexes on the Board of Directors in the Governing Board and establish policies to achieve and maintain the objective.
The government's work must be organised in such a way that neither a single member of the government nor a minority of members, in an improper manner or contrary to the interests of the credit institution, take decisions of the government. The individual member of the Board of Directors shall act in such a way as to enable the government to carry out its duties and independently control the functioning of the management.
A credit institution which is significant for the purposes of the financial system as referred to in Article 10 (7) or (8) shall be a member of the Board of Directors or a nomination committee composed of persons appointed by shareholders. Where a credit institution is part of a consolidation group or a pool of deposit banks, which is significant in such a way, only the parent undertaking of the consolidating group and the central entity of the deposit banks shall have an appointment committee.
The task of the nomination committee shall be to assist the Board of Directors or the members of the Board of Directors in matters relating to the composition and selection of members and senior management. A member of the committee shall not participate in the day-to-day management of a credit institution or undertaking whose affairs are the responsibility of the committee.
The nomination committee shall assist the government or other members of the Board of Directors, at least in the following areas:
(1) the assessment of the necessary information and skills, experience, diversity and the time required for membership, the definition of the role of the new members and the capacity to be required, as well as the search for candidates;
(2) an evaluation of the composition of the board, the work and the work of individual members of the government;
(3) the evaluation of the selection criteria and the selection procedure of the management;
4) to promote the objective referred to in Article 2 (2).
The assessments referred to in paragraph 3 (1) to (3) shall be carried out on a regular basis, but at least once a year.
Where the Appointing Committee is not or is not entrusted with the tasks provided for in this Article, they shall be the responsibility of the Board of Directors or the Management Board to the extent that those tasks are exercised by the Board of Supervisors or by the statutes.
A member of a credit institution's Board of Directors and a senior executive should be a reliable and reputable person who is not in bankruptcy or a business ban and whose capacity to act is not restricted anyway.
A reliable and good repute shall not be considered to be:
(1) during the preceding five years, a sentence of imprisonment or a financial penalty for a criminal offence which may be considered as being manifestly unfit for the purpose referred to in paragraph 1; or
(2) By way of an otherwise earlier operation, it has shown that it is manifestly inappropriate for the task referred to in paragraph 1.
The period referred to in paragraph 2 (1) shall be calculated on the final date of receipt of the judgment. However, if the judgment has not received the force of law, the sentenced person may continue to exercise the authority of the credit institution if it is in his past, the circumstances leading to the conviction and other relevant factors as a whole. Shall be deemed to be well founded.
A member of a credit institution's board of directors and management should be the business of the credit institution, the main risks associated with it, and the experience and experience of the credit institution, as well as of the credit institution 's The quality, scale and complexity of the action is necessary.
The credit institution shall immediately inform the Financial Supervisory Board of any changes to the management referred to in paragraph 1.
A member of the credit institution's Board of Directors, the Executive Director and any other operator shall use sufficient time to carry out the duties provided for in this Act and those of other functions. The maximum number of members of the Board of Directors and the Executive Director's Board of Directors and their other duties shall take into account at least the personal circumstances of the member and the Executive Director, as well as the quality of the credit institution's activities, and And diversity.
Within the meaning of Article 10 (7) or (8) of Chapter 10, a credit institution which is significant in terms of the financial system, acting as a member of the Board of Directors, or the managing director, may keep up to two other A member of the Board of Directors, whether in membership or in the main office, not more than four members of the Management Committee.
One of the management tasks is to calculate the membership of the Board or the executive directors:
(1) in the same consolidation group or within the same pool of deposit banks; and
(2) in undertakings from which the credit institution has a significant shareholding within the meaning of Article 4 (1) (36) of the EU Solvency Regulation.
Paragraphs 2 and 3 shall not apply to a member of the Board of Directors who has been selected as the head of the credit institution as a representative of the State, or as a member of the Board of Directors of the Board of Directors of the Board of Directors of the Housing Company, (1599/2009) in Chapter 28, Article 2 Or any other undertaking whose principal purpose is non-profit-making to the shareholders or shareholders if the purpose is not: Jeopardise compliance with the principles laid down in paragraph 1.
The provisions of paragraphs 1 to 3 shall not apply to a member of the Board of Directors, who is the representation of staff in the law of undertakings (725/1990) A representative of staff.
Financial supervision may authorise a member of the Board of Directors and the Executive Director to receive one additional membership in addition to the ceilings provided for in paragraph 2, if it does not jeopardise compliance with the principles laid down in paragraph 1. Financial supervision shall inform the European Banking Authority of its derogation.
A credit institution shall have procedures which may be followed by the credit institution's employees within the credit institution through an independent channel for suspected infringements of financial market rules and regulations. The personal data of the notifier and the person subject to the notification shall be confidential unless otherwise provided for by law.
The credit institution shall keep the necessary information concerning the notification referred to in paragraph 1. The information shall be deleted after a period of five years from the date of the notification, unless it is necessary to preserve the information necessary for the purposes of criminal investigations, pending legal proceedings, the judicial investigation or the notifier or the notifier. The protection of the person's rights. The need for further data retention shall be examined no later than three years after the previous review. A marking shall be made on the review.
The data subject subject to the notification shall not have the right of access to the information referred to in paragraphs 1 and 2. The Data Protection Supervisor may, at the request of the data subject, verify the legality of the data relating to the registration referred to in paragraphs 1 and 2.
The credit institution shall take appropriate and adequate measures to protect the notifying parties.
Financial supervision may provide more detailed provisions for the reporting and processing of notifications referred to in paragraph 1 in the credit institution.
A credit institution shall keep available on its website a description of its compliance with the provisions of Articles 1 to 5 of this Chapter.
For the purposes of the provisions of this Chapter, account shall be taken of the size, legal and administrative structure of the credit institution and its consolidation team, as well as the quality, scope and complexity of the activity and the tasks and responsibilities of each individual premium.
Articles 11 and 12 of this Chapter shall apply only to remuneration schemes for persons whose professional activities have a material impact on the risk situation of the credit institution. Such persons include:
(1) Managing Director and other operational management;
(2) other persons whose professional activities have a material impact on the risk position of the credit institution;
(3) a person who works in the internal control activities of the credit institution referred to in Article 6;
(4) any other person whose total remuneration does not differ significantly from the total amount of the premium for the person referred to in paragraphs 1 or 2.
A credit institution shall maintain a list of persons referred to in paragraph 2.
Article 14 of this Chapter applies only to the award of the State guarantee fund (19/09/1992) By a credit institution receiving State aid.
For the purposes of this Chapter, the credit institution shall also apply to the parent undertaking of the credit institution's consolidation group and to the other company belonging to the consolidating group and to the pool of deposit banks and its central entity.
The provisions of Sections 7 and 8 of this Chapter shall also apply to the other institution and its members exercising the power of decision in other credit institutions.
Where a credit institution has a Management Board, the Board of Directors, as provided for in this Chapter, shall be entrusted by the Management Board to the extent that the Board of Supervisors has been assigned to the Board of Directors in accordance with the statutes or rules.
Law on the State guarantee fund 379/1992 Has been repealed by L, repealing the Law on the Government Guarantee Fund 22/2014 .
For the purposes of this chapter:
(1) The remuneration system Decisions, agreements, policies and procedures to be followed by a credit institution in the remuneration of the Executive Director and the staff;
(2) Service relationship The employment relationship and the role of the Executive Director or the equivalent office between the institution and the remuneration recipient;
(3) Premium The remuneration of employment or other financial benefits, as provided for in Article 10 (3), and a pension benefit which is not covered by the institution's statutory obligation; Obligation;
(4) Variable remuneration A premium linked to the performance of the payee or to an economic or other factor which is not fixed;
(5) By fixed premium Paid and other remuneration linked to a specific period or other performance or result independent of the result;
(6) The premium recipient The person in which the remuneration is paid;
(7) During the earning period The period during which the variable remuneration to be paid by the credit institution to the remuneration of the credit institution shall be determined on the basis of any other factor in the performance of the work or time period;
(8) During the deferral After the period after which the premium is awarded to a variable remuneration or, where the premium is paid in pieces, the part of the premium, under the conditions laid down in this Chapter, and the other conditions which the credit institution may impose, The implementation;
(9) Waiting period The period laid down in the system of remuneration, and where the premium concerned is subject to a period of deferral, the period after the deferral period during which the premium recipient may not yet provide him with a fee other than the fee payable.
The credit institution's remuneration schemes shall comply with the business strategy, objectives and values of the institution and its consolidation group, and shall be responsible for the long-term interest of the institution and its consolidation team. The remuneration schemes must be in line with and contribute to the sound and effective risk management of the institution and its consolidation team.
Remuneration schemes shall not encourage risk-taking that exceeds the risk level decided upon by the institution and its consolidation group on the basis of its risk-carrying capacity.
The credit institution's Board of Directors shall decide on the general principles of remuneration systems applicable in the institution for the institution's operational management and for all staff, and shall regularly monitor and assess the functioning of the remuneration systems; and Compliance with the principles and procedures decided upon. The parent undertaking of the parent undertaking of a credit institution shall ensure that the provisions of this Chapter relating to remuneration schemes are complied with throughout the consolidation group.
Remuneration schemes shall be managed in such a way as to avoid conflicts of interest which may jeopardise the effective and prudent management of the business of the institution or its consolidation team in accordance with prudent business principles.
At least once a year, the institution or its consolidation group's internal control function shall verify that the remuneration schemes decided by the government have been respected.
A credit institution which is significant for the purposes of the financial system as referred to in Sections 7 or 8 of Chapter 10 shall be a remuneration committee composed of board members to assist the government of the credit institution. Decisions on the management and guidance of remuneration systems. Where a credit institution is part of a consolidation group or a pool of deposit banks, which is significant in such a way, only the parent undertaking of the consolidating group and the central entity of the deposit banks shall have a remuneration committee.
The composition and work of the committee shall be organised in such a way that the committee is capable of independently assessing the incentives and other effects of remuneration systems in the management of risks, capital and liquidity. In carrying out its tasks, the committee shall take into account the long-term interests of shareholders, investors and other stakeholders in the credit institution, as well as the public interest. The Chairperson and members of the Remuneration Committee shall not participate in the day-to-day management of a credit institution or undertaking whose affairs are part of the committee's duties. Where, as members of the Board of Directors, representatives of staff within the meaning of the Law on the representation of employees, at least one of them shall be designated as a member of the remuneration committee.
Where the remuneration committee is not or is not entrusted with the tasks referred to in this Article, they shall be the responsibility of the Board of Directors or the Management Board, to the extent that those tasks are exercised by the Board of Supervisors or by the statutes.
The remuneration of the credit institution's internal control functions shall be supervised by a credit institution or, if it belongs to the consolidating group, the Government of the parent undertaking of the consolidating group or the remuneration committee.
The remuneration of the person working in the supervisory function shall be determined on the basis of the fulfilment of the objectives defined for the purposes of supervision, and shall not depend on the performance of the business unit controlled by the person.
There must be a clear distinction between the basis of the fixed and variable remuneration. The fixed premium must first be determined on the basis of the person's professional experience, role and responsibility. The variable remuneration should reflect the sustainable and risk-weighted income of the credit institution, as well as the personal performance of the beneficiary, which exceeds the normal performance of the credit institution.
The credit institution shall provide for a reasonable relationship between fixed and variable remuneration and the level of variable remuneration. The terms and conditions of the remuneration system shall be such that a credit institution may decide to waive a variable remuneration, whether in whole or in part, under other conditions as defined in this Subpart or in the Compensation Scheme, and The payment of the premium by the financial instruments referred to in Article 12 and defer the payment of the premium in the manner referred to in Article 11. The fixed premium for the payee shall be sufficiently large to ensure that any non-payment of the variable remuneration does not constitute undue payment to the beneficiary.
The variable remuneration shall not exceed 100 % of the total amount of the flat-rate premium for each premium, unless the corporate meeting of the credit institution decides otherwise. However, the general meeting shall not accept a higher variable remuneration than 200 % of the total amount of the fixed premium.
The proposal for a decision within the meaning of Article 7 (3) of the General Meeting shall be sufficiently identified and shall state the reasons why the higher percentage of variable remuneration should be accepted. The proposal shall contain at least the number and responsibilities of the persons covered by the decision and the impact of the decision on the solvency of the credit institution. The proposal referred to in this Article shall be mentioned in the notice of the General Meeting.
A credit institution shall inform the General Meeting of the Financial Supervisory Board of a proposal to the General Meeting without delay after a decision has been taken or the proposal has come to the attention of the credit institution. The credit institution's Board of Directors shall, no later than three weeks before the general meeting or without delay after the proposal has become known to the credit institution, provide a statement to the Financial Supervisory Committee whether it considers that the adoption of the proposal is contrary to: The EU Capital Requirements Regulation, and in particular adequate own funds requirements.
If at least half of all the shares of the company are represented at the General Meeting of the credit institution, the decision of the general meeting shall be an opinion which has been supported by at least two thirds of the votes cast. If less than half of all the shares in the company are represented at the general meeting, the decision of the general meeting shall be an opinion which has been supported by at least three quarters of the votes cast.
A shareholder who is subject to the decision referred to in this paragraph or his agent shall not be allowed to vote in the case, unless the decision concerns all the shareholders of the credit institution.
The credit institution shall immediately inform the financial supervision of the decision of the general meeting referred to in this Article. Financial supervision shall inform the European Banking Authority of the decision.
The credit institution shall comply with the requirements laid down in this Article for the determination and payment of variable remuneration.
The variable remuneration shall be based on an overall assessment of the remuneration of the beneficiary and the business entity concerned, as well as the credit institution and, where the institution belongs to the consolidating group, the consolidated group, the overall result and its development. When assessing performance, account shall be taken of the economic and other factors and the long-term performance of the performance or outcome.
The payment of remuneration to the premium beneficiaries shall be deferred in such a way that the payment is consistent with the credit institution's business cycle and business risks. The amounts to be paid shall take into account at least the foreseeable and future risks, the cost of capital and the necessary liquidity.
The total amount of fees payable by the credit institution shall not be so large that it limits the recapitalisation of the institution.
The beneficiary may be entitled to a variable remuneration and a variable remuneration may only be paid to him if the payment does not jeopardise the adequacy of the credit institution's and its consolidating group's own funds in accordance with the EU solvency regulation, and That the payment is justified on the basis of the performance of the credit institution and its consolidation team, the business unit of the payee and the personal performance of the payee as a whole.
The right to a variable remuneration may be incurred by the beneficiary and may only be paid to him if the beneficiary has not acted in accordance with the principles and procedures laid down by the institution or the credit institution for the provisions of the provisions laid down by the credit institution. , or whether or not it has contributed to such a procedure. The variable remuneration must also be allowed to be not paid or recovered if that procedure becomes known to the credit institution only after the payment or payment of the premium. In determining and applying the limits laid down in this Article, the credit institution shall, in particular, take into account whether the recipient's behaviour has contributed to the creation of significant financial losses and whether: The commission's proceedings against the integrity and competence of the management of the credit institution.
A credit institution may commit to the payment of an unconditional variable remuneration only for particularly heavy reasons and provided that the price on which the price promised relates only to the first year of the service of the beneficiary. However, the payment of that commitment and premium must be compatible with the institution's sound and strong capital structure and the personal performance requirement of the beneficiary. The premium referred to in the undertaking must be clearly distinguished from the discretionary remuneration system.
A credit institution may commit itself to a remuneration scheme based on or similar to its previous service relationship, if it is in line with the long-term interests of the credit institution. When assessing the fulfilment of the condition, the credit institution shall take into account at least the commitment effect of the old system and the deferral and repayment requirements under this Chapter.
The payment of severance payments to the reward beneficiary and any other equivalent allowance paid in the event of premature termination of the service shall take into account the conditions laid down in this Chapter and the criteria for payment must be drawn up as such, That the compensation does not result in the award of a failure or failure to initiate the procedure.
A significant proportion, at least 40 % of the total amount of variable variable remuneration, shall be deferred and not paid not earlier than 3 to 5 years after the end of the earning period. When determining the length of the deferral referred to above, the credit institution shall take into account its business cycle, the nature of the business, the risks and the tasks and responsibilities of the beneficiary concerned. If the variable remuneration represents a particularly high variable remuneration, at least 60 % of the variable remuneration shall be deferred accordingly. If the deferred premium is to be paid in instalments in several instalments, the amount of the deferred premium may be granted to the premium beneficiary, at the earliest, in proportion to the total amount of the total deferral.
At least half of the specified variable remuneration shall be paid on a non-cash basis. It shall have a balanced use of shares or, where the shares of the credit institution are not traded on a regulated market within the meaning of Article 2 (6) of Chapter 1 of the Law on trading in financial instruments, other comparable The financial instruments referred to in Articles 52 and 63 of the EU Capital Requirements Regulation, which are convertible into core capital or whose book value can be reduced. The value of the financial instruments used shall reflect changes in equity or creditworthiness of the credit institution or its consolidated group.
For the purpose of the payment of variable remuneration, the financial instruments referred to in this Article shall be accompanied by a waiting period which is consistent with the deferrals imposed in accordance with Article 11.
A credit institution shall not pay any variable remuneration in a manner that is equivalent to the procedure against the provisions of this Chapter.
The credit institution shall require the beneficiary to commit itself to ensuring that he does not use financial instruments, insurance or other means of assimilation of the remuneration of the payee's personal income related to the remuneration scheme referred to in this Chapter. The risk of protection.
Financial supervision may restrict or prohibit the use of a certain financial instrument or arrangement for the payment of variable remuneration, whether or not it contains a deferred share, if the procedure can be considered contrary to the provisions of this Chapter.
If the payment of variable remuneration would be incompatible with the sound and strong recapitalisation of the credit institution and the rapid repayment of State aid, a credit institution may only pay up to a maximum amount equal to the amount corresponding to the The share of the institution's net profits. On a proposal from the Board of Directors of the credit institution, the maximum proportion shall be determined on the basis of the consolidated financial statements of the credit institution.
The Ministry of Finance may, as a condition of receiving State aid, require a credit institution to change its remuneration systems in such a way that they are compatible in addition to the requirements referred to in paragraph 1, a credit institution's good risk management and sustainable With economic status. Similarly, the Ministry of Finance may require the credit institution to limit the remuneration of the credit institution's management and to prohibit the payment of any variable remuneration to the management of the credit institution if the payment does not comply with this Article. Or, where the payment of fees is not justified for the credit institution and the general interest as a whole.
A credit institution shall keep available on its website an account of its compliance with the provisions of this Chapter.
Financial supervision shall monitor the development and practices of credit institutions' remuneration systems and provide the European Banking Authority with information on remuneration in the form prescribed by this authority. Financial supervision shall be required to monitor, in addition to what is provided for in Article 450 of the EU Capital Requirements Regulation:
(1) the number of persons to whom the credit institution has paid salaries and salaries of at least eur 1 million per financial year;
(2) the function of the persons concerned and of the business line they are working in;
(3) the distribution of the premium on a fixed and variable component and the conditions for the deferral of the premium, as well as other key information on the remuneration schemes to which the persons belong.
Financial supervision may provide more detailed provisions for the reporting of the information referred to in this Article.
A credit institution which does not fall within the consolidated supervision referred to in Chapter 1, Section 4, shall have a plan to safeguard the continued operation of the credit institution in a situation where the credit institution's financial position is: Significantly impaired ( Recovery plan ). The financial position of the credit institution shall be deemed to have deteriorated significantly, at least if the credit institution is in danger of failing to fulfil the financial conditions provided for in its operations, or where a credit institution no longer meets the requirements of Article 4 (1) Internal solvency or liquidity objectives within the limits to be included in the recovery plan.
Paragraph 1 shall not apply to the subsidiary of the parent undertaking of the consolidating group, subject to Article 12.
The credit institution shall check the recovery plan at least once a year. However, financial supervision may, in an individual case, require a credit institution to audit its recovery plan more often.
In addition, the recovery plan shall be verified after a change in the legal or operational structure, business, financial position or operational environment of the credit institution if it can have a significant impact on the plan Feasibility or otherwise require a verification of the plan.
The Ministerial Decree of the Ministry of Finance provides for a framework for the recovery and resolution of credit institutions and investment firms and Council Directive 82 /891/EEC, Directives 2002/24/EC, 2002 /47/EC, 2004 /25/EC, 2005 /56/EC, 2007 /36/EC, 2011 /35/EU, 2012 /30/EU and 2013 /36/EU and Directive 2014 /59/EU of the European Parliament and of the Council amending Regulations (EU) No 1093/2010 and (EU) No 648/2012, hereinafter referred to as: Resolution directive , implementing the necessary detailed provisions for the information to be included in the recovery plan.
Financial supervision may, in an individual case, require a credit institution to include information provided in the recovery plan other than those provided for in this Article. Financial supervision may also require the credit institution to include details of the financial agreements in which it is a party.
The recovery plan shall include different policy options to preserve or restore the financial capacity of the credit institution. The recovery plan shall provide for possible disruptions to the operation of the financial system as a whole and of the activities of the credit institution and its consolidation group alone. The recovery plan shall include any measures which a credit institution may take if the conditions for early intervention provided for in Article 11 (5a) are met. The recovery plan shall include a description of the procedures to ensure the implementation of the recovery measures within a reasonable period of time.
The recovery plan shall not assume that, in order to restore the financial position of the credit institution, it shall be granted exceptional public financial support, as referred to in Article 3 (24) of Chapter 1 of the Resolution Act. The recovery plan shall include, where appropriate, an explanation as to how and when a credit institution may apply to the Bank of Finland in the event of a problem and what collateral it would likely have at its disposal.
In addition to the provisions of this law and the provisions adopted pursuant to it, the provisions on the content and assessment of recovery plans shall be subject to the provisions of the European Commission Regulation or Decision referred to in the Resolution Directive Standards.
The credit institution shall include clear limit values and qualitative criteria for the recovery plan to identify situations in which the plan must be implemented in order to safeguard the continued operation of the credit institution. The credit institution shall establish arrangements for regular monitoring of the limit values and the qualitative assessment criteria. The limit value shall be considered to be at least the sum of the aggregate own funds referred to in Article 1 of Chapter 10 of the institution plus an amount equal to 1,5 % of the total risk referred to in Article 92 (3) of the EU Solvency Regulation. Quantity.
The credit institution shall take measures under the recovery plan where the criteria referred to in paragraph 1 are met, subject to paragraph 3.
Notwithstanding paragraph 2, a credit institution may decide not to take measures under the recovery plan if the credit institution does not consider the measures to be necessary. The credit institution shall make the decision referred to in this paragraph in writing and transmit it without delay to the Financial Supervisory Authority.
Notwithstanding paragraph 3, the financial supervision may take the form of a decision on the exercise of the powers laid down in Chapter 11 and Chapter 4 of the Law on Financial Supervision.
The credit institution shall submit a recovery plan for financial supervision. The plan shall be approved by the government of the credit institution before its submission to the Financial Supervisory Authority. The credit institution shall demonstrate to the financial supervision that the plan meets the conditions laid down in Article 6 (1). (12/05/1280)
Financial supervision shall provide a recovery plan and any amendments thereto to the Financial Stability Agency referred to in the Law on the Financial Stability Board.
No later than six months after receipt of the plan, financial supervision shall check the recovery plan and after consultation with the EEA supervisory authorities responsible for the supervision of significant branches, in so far as it is relevant for the branch; Assess whether the recovery plan meets the requirements laid down in Articles 3 and 4 and the following conditions:
(1) the implementation of the plan with a reasonable probability of ensuring the financial viability of the credit institution;
(2) the plan, or the individual options it contains, can reasonably be implemented rapidly and effectively in a difficult financial situation, causing as little significant harm as possible to the financial system as possible; In the event of simultaneous implementation of the recovery plan by other credit institutions.
When assessing the recovery plan, the financial supervision shall take into account the credit institution's equity and financial structure in relation to its operational structure and risks.
If Financial Supervision is of the opinion that the recovery plan contains material deficiencies or obstacles to implementation, it shall inform the credit institution and shall require the credit institution to submit, within two months, a audited plan, which shall: , indicating the ways in which the deficiencies or obstacles have been remedied. Financial supervision may extend the abovementioned period by one month. The credit institution shall be consulted prior to the submission of the revised plan.
If Financial Supervision is of the opinion that shortcomings or barriers have not been adequately remedied, it may require the credit institution to make changes identified in the recovery plan in a period of time.
If the credit institution has not made any changes within the time limit referred to in paragraph 2, or the financial supervision considers that the planned plan is not sufficient, the deficiencies or obstacles to the plan cannot be remedied by requiring a plan , the financial supervision shall set a deadline within which a credit institution shall disclose how it can change its business in order to address the deficiencies or obstacles in the recovery plan.
Financial supervision may order the institution to carry out the activities deemed necessary by the financial supervision, taking into account the severity of the deficiencies and obstacles and the impact of actions on the business of the credit institution. Financial supervision may provide the institution with:
(1) reduce the risk profile and reduce the liquidity risk;
2) enable the recapitalisation to be established in a timely manner;
(3) alter the strategy and structure of the institution;
(4) to amend the financing strategy for the protection of nuclear business and critical functions from interference;
(5) to change the governance structure of the credit institution.
The parent credit institution of the consolidating group, which is not a subsidiary of the parent undertaking in another EEA State, shall establish a recovery plan for the entire consolidation team covering all undertakings belonging to the consolidating group, Subject to Article 11.
The recovery plan shall provide the necessary measures for the consolidation of the parent undertaking of the consolidation team and its individual undertaking to ensure the continuation of the activities in which the consolidating group or its The company's financial position has been significantly impaired.
In addition, the recovery plan for the consolidation group shall include arrangements to ensure consistency between the various undertakings and the measures for significant branches. The plan shall also include the arrangements for financial assistance within the consolidating group referred to in Chapter 9a.
The recovery plan for the consolidation group and the plans for individual subsidiaries shall include the information provided for in Article 3 and the thresholds and qualitative criteria laid down in Article 4.
The recovery plan for the consolidation group shall indicate any obstacles to the implementation of the recovery measures within the consolidation group or within the undertakings belonging to the consolidating group. The recovery plan for the consolidation group shall indicate any legal and practical obstacles to the transfer of own funds or to the repayment of liabilities between undertakings within the consolidating group.
The consolidating group's parent undertaking shall submit a consolidated recovery plan for the consolidation of the financial supervision. The recovery plan for the consolidation group shall be submitted to the Financial Supervisory Board whenever significant changes have been made. The government of the parent undertaking of the consolidating group shall approve the recovery plan for the consolidation team prior to its submission to the Financial Supervisory Authority. When required, the consolidating group's parent undertaking or a credit institution or investment firm shall demonstrate to the financial supervision that the recovery plan of the consolidating group fulfils the conditions laid down in Article 8. (12/05/1280)
Financial supervision shall provide a recovery plan for the consolidation team received:
1) the Financial Stability Board;
(2) the supervision and resolution of a subsidiary in a foreign EEA subsidiary in a foreign EEA State;
(3) to the supervisory authority responsible for the supervision of a significant branch in the EEA State, if it is relevant for the branch;
4) to other supervisory authorities within the colleges of supervisors referred to in Article 65b of the Financial Supervisory Law.
Financial supervision, together with the EEA supervisory authorities responsible for the supervision of subsidiaries, shall, after consulting the supervisory authorities referred to in Article 9 (2) (4) and together with the supervision of significant branches, EEA supervisory authorities, where it is essential for a branch, assess whether the consolidated recovery plan meets the requirements laid down in Articles 6 and 8. The assessment shall comply with the procedure laid down in Article 7 and shall take into account the possible impact of the recovery measures on the stability of the financial markets in all EEA States where the condolidation group has a business.
Financial supervision shall be subject to a joint decision with the EEA supervisory authorities responsible for the supervision of subsidiaries:
(1) whether the recovery plan of the consolidation group meets the requirements laid down for it;
(2) whether a separate recovery plan is to be drawn up for an undertaking belonging to the consolidating group;
(3) the measures referred to in Article 7 relating to the parent undertaking of the consolidating group;
4. On the measures referred to in Article 7 relating to subsidiaries of a consolidation group.
The joint decision referred to in paragraph 1 shall be taken within four months from the date of submission of the financial supervision to the supervisory authorities referred to in Article 10 of the consolidated recovery plan.
In the absence of a joint decision within the period laid down in paragraph 2, the financial supervision shall take a decision to take into account the positions and reservations expressed by the other competent supervisory authorities within the four-month period. Financial supervision shall submit a decision to the parent company of the consolidating group and to the other supervisory authorities referred to in paragraph 1.
If the joint decision referred to in paragraph 1 on the matters referred to in paragraph 1 (2) or (4) has not been taken within the period laid down in paragraph 2, the financial supervision shall take the decision to draw up separate recovery plans for its control. And the application of the measures referred to in Article 7 at the level of subsidiaries.
If, in accordance with Article 19 of the European Banking Supervision Regulation, the financial supervision or other EEA Surveillance Authority referred to in paragraph 1 has referred the matter referred to in paragraph 1 to the European Banking Authority, the financial supervision shall be suspended The decision referred to in paragraphs 3 and 4. Where a decision is taken by the European Banking Authority, the financial supervision shall take a decision in accordance with the decision of the European Banking Authority. The period of four months referred to in paragraph 2 shall be the conciliation period referred to in that Article. It is not possible to refer the matter to the European Banking Authority after the four-month period referred to in paragraph 2 or after the adoption of the joint decision. If the European Banking Authority has not taken a decision within one month of the date of referral to it, the financial supervision may take a decision.
In the cases referred to in paragraph 4, financial supervision may, instead of its own decision, take a joint decision with the supervisory authorities referred to in paragraph 1.
The financial supervision, after having received a consolidated recovery plan from the EEA Surveillance Authority responsible for supervision of the parent undertaking of the consolidating group, shall contribute to the conclusion of Article 11 (1): The joint decision of the financial supervision and other relevant EEA supervisory authorities concerned within four months of the adoption by the EEA Surveillance Authority of the consolidation team of the consolidation group's recovery plan The supervisory authorities.
Where a joint decision on matters referred to in Article 11 (1) (1) or (3) has not been taken within the period laid down in paragraph 1 of this Article and the EEA Surveillance Authority responsible for the supervision of the consolidating group shall take its own decision, Financial supervision shall apply. However, in accordance with Article 19 of the European Banking Supervision Regulation, financial supervision may refer the matter to the European Banking Authority.
Where the joint decision on matters referred to in Article 11 (1) (2) or (4) has not been taken within the period laid down in paragraph 1 of this Article, the financial supervision shall decide on a recovery plan for an undertaking under its supervision.
If, in accordance with Article 19 of the European Banking Supervision Regulation, the financial supervision or the EEA Surveillance Authority has referred the matter referred to in paragraph 1 to the European Banking Authority, the financial supervision shall suspend the Its decision. Where a decision is taken by the European Banking Authority, the financial supervision shall take a decision in accordance with the decision of the European Banking Authority. The matter may not be addressed to the European Banking Authority after the four-month period provided for in paragraph 1 or after a joint decision on the matter has been taken. If the European Banking Authority has not taken a decision within one month of the date of referral to it, the financial supervision may take a decision.
In the cases referred to in paragraph 3, financial supervision may, instead of a decision, take a joint decision with the EEA Supervisory Authorities referred to in paragraph 1.
Financial supervision, taking into account the objectives and the implementing principles set out in Article 6 of Chapter 1 of the Resolution, and the bankruptcy of the credit institution in financial markets, other credit institutions and investment firms, The impact on access to finance and the wider economy, identify requirements for recovery plans which may derogate from the following requirements laid down in this Chapter:
1) the information to be included in the recovery plan;
(2) the recovery plan and the deadlines for updating it;
(3) the content of the information required in accordance with Articles 3 and 8.
Financial supervision shall provide the European Banking Authority with an explanation of the application of this Article.
Financial supervision may decide, after consulting the Financial Stability Agency, that the provisions of this Chapter do not apply to the membership credit institution of a consortium within the meaning of Article 1 of Chapter 9 of this Act. , in whole or in part, exempt from the prudential requirements referred to in Article 10 of the EU Solvency Regulation or which is part of the institutional protection scheme.
Where an installation has been released in accordance with paragraph 1, the provisions of this Chapter shall be applied on the basis of consolidation to the Central Community and to the institutions which acceded to it within the meaning of Article 10 of the EU Capital Requirements Regulation. The protection system referred to in paragraph 1 shall comply with the requirements laid down in this Chapter in cooperation with its exempted member.
A recovery plan of a Member State which is subject to the supervision referred to in Article 6 (4) of the YVM Regulation or which has a significant share of the financial system shall be drawn up in accordance with the provisions of this Chapter.
An institution shall have a significant proportion of the financial system, as referred to in paragraph 3, if its assets:
1) a total value exceeding EUR 30 billion; or
2) the share of the domestic gross domestic product exceeds 20 % and the total value of the assets does not fall below eur 5 billion.
Financial supervision shall provide the European Banking Authority with an explanation of the application of this Article.
The credit institution shall ensure that it has an ongoing sufficient amount of own funds to cover the risks to the credit institution and its external operational environment as laid down in this Act and the EU Capital Requirements Regulation. A credit institution shall not take such a high risk that it poses a material risk to the solvency or liquidity of the credit institution. To ensure this, the credit institution shall have sound, comprehensive and effective strategies and procedures to assess, monitor and maintain the volume, quality and distribution of internal capital.
The credit institution shall regularly assess the strategies and procedures referred to in paragraph 1 in order to remain comprehensive and proportionate to the quality, scale and complexity of the credit institution's business.
The provisions of this Chapter on the credit institution and its risk management shall also apply to the parent undertaking of the credit institution's consolidation group and to the other company belonging to the consolidating group and the risk management of the credit institution's consolidation team.
The financial supervision may, upon application by the credit institution, grant an exemption from the application of paragraphs 1 and 2 to a credit institution belonging to the consolidating group. The authorisation shall be granted if, for each of the companies belonging to the consolidating group, sufficient own funds are set aside for each part of the undertaking's business, with the exception of undertakings limited to the objectives of the consolidated supervision, and Business areas. The authorisation shall also be subject to the condition that the granting of the authorisation does not jeopardise the solvency or prudential supervision of the credit institution.
The provisions of paragraphs 1 and 2 shall not apply to a credit institution under the derogation referred to in Article 10 of the EU Solvency Regulation. Paragraph 3, provided for in Article 15 of the EU Solvency Regulation, shall not apply to the consolidated group of consolidation referred to in Article 15 of the crd.
The credit institution shall have efficient and reliable management and control systems, as described in writing, to identify, manage, control, limit, monitor and monitor current and future risks to the credit institution and its activities. And reporting risks. These include:
(1) a clear organisational structure with a comprehensive and clear definition of powers and responsibilities;
(2) effective risk management reporting processes;
(3) healthy internal control, management and calculation processes;
(4) policies and procedures for remuneration systems that are consistent with and promote sound and effective risk management.
The systems referred to in paragraph 1 shall be comprehensive and proportionate to the quality, scale and complexity of the activities of the institution.
The credit institution's Board of Directors shall approve and regularly evaluate the strategies and procedures for the credit institution and its activities. All relevant risks, risk management instructions and these changes shall be reported to the government.
The credit institution's Board of Directors shall use sufficient time to deal with the exposures to the credit institution and ensure that the credit institution has adequate resources for risk management in this law and the EU To carry out the tasks referred to in the crd.
Where a credit institution has a Management Board, the Board of Directors, as provided for in this Chapter, shall be responsible for the management of the Board of Directors, to the extent that it is entrusted with the functions of the Board or of the Board of Directors.
A credit institution which is significant for the financial system as referred to in Article 10 (7) or (8) shall be a risk committee of board members reporting to the government as a whole. Where a credit institution is part of a consolidation group or a pool of deposit banks which is significant in the above manner, only the parent undertaking of the consolidating group and the central entity of the deposit banks shall have a risk committee. A member of the risk committee shall not participate in the day-to-day management of a credit institution or undertaking whose affairs are the responsibility of the committee. A member of the risk committee shall have the necessary expertise in the credit institution's risk-taking and risk strategy.
The risk committee shall assist the government in the credit institution's risk strategy and risk-taking issues, as well as in monitoring the management of the credit institution's management of the risk strategy decided by the Board of Directors. The risk committee shall assess whether the prices charged by the institution in respect of binding services conform to the business model and the risk strategy of the institution and, where this is not the case, to prepare a plan for the correction of the case by the government.
The risk committee shall also assist the Board of Directors in the establishment of sound remuneration systems and assess whether the remuneration schemes encourage the risk, capital and liquidity requirements of the institution, and The likelihood of accumulation of returns and returns.
Where a committee of risk is not or is not entrusted with the tasks referred to in this Article, they shall be the responsibility of the Management Board or the Board of Directors, to the extent that these tasks are exercised by them in accordance with the statutes or Community rules.
A credit institution which is significant for the financial system as referred to in Article 10 (7) or (8) shall be an audit committee of board members reporting to the government as a whole. Where a credit institution is part of a consolidation group or a pool of deposit banks, which is significant in such a way, only the parent undertaking of the consolidating group and the central entity of the deposit banks shall have an audit committee. The above provisions do not apply to a credit institution whose shares are not traded on a regulated market within the meaning of Article 2 (6) of Chapter 1 of the Law on trade in financial instruments and issued only by: Debt certificates with a combined nominal value of less than eur 100 000 000, without publication of securities for the public offer or admission to trading of securities, and Directive 2001 /34/EC And amending Regulation (ec) 2003 /71/EC prospectus.
The Audit Committee shall have sufficient expertise in accounting, accounting, financial reporting and accounting practices as well as an internal audit. A member of the Audit Committee shall not participate in the day-to-day management of a credit institution whose affairs are the responsibility of the committee. At least one member of the committee shall be independent of the credit institution and its significant shareholders, with sufficient expertise in the calculation of the calculation or auditing.
The Audit Committee shall assist the Government at least in monitoring, monitoring and preparing the following:
1) the financial reporting system;
(2) the effectiveness of internal control and control and risk management systems;
3) audit;
4) the auditor's independence and the preparation of the appointment of the auditor.
Where the audit committee is not or is not entrusted with the tasks referred to in this Article, they shall be the responsibility of the Management Board or the Management Board, to the extent that those tasks are exercised by the Board of Supervisors or by the statutes.
A credit institution which has an audit committee, other than the meaning of Article 10 (7) or (8), may be a combined risk and audit committee composed of members of its Board of Directors. The members of the committee shall have the expertise to carry out the duties of both committees.
The members of the Board of Directors of the Board of Directors should have adequate knowledge of the risks of the credit institution. The risk committee shall define the content and format of the information to be notified to it. The risk committee shall maintain regular contact with the risk control function referred to in Article 8. The committee shall have the right to use external experts to the extent necessary.
The credit institution shall have a supervisory function independent of the credit institution's business, compliance with the provisions and internal policies, internal audit and other necessary supervisory functions.
The risk control function shall be to ensure that the essential risks of the credit institution are identified, measured and reported to the government. The supervisory function shall be actively involved in the establishment of a risk strategy for the institution and the adoption of all relevant risk management decisions, and shall ensure that the government receives an overall picture of the Risks.
The supervisory activities referred to in this Article shall be given adequate administrative, powers and resources to carry out their tasks. Where the government does not receive adequate information in any other way on the essential risks of the institution through the usual reporting processes, the risk control function and the other supervisory functions shall have the possibility of carrying out their tasks Matters directly to the government. Those working in supervisory activities should be independent of the business units they supervise. The role of the director of the risk control function shall be the main function. His discharge is to be decided by the government of the credit institution.
A credit institution may derogate from the requirements laid down in this Article concerning the establishment of independent supervisory activities and the main office of the Director of the risk control function, if justified, The quality, scale and complexity of the credit institution's activities. However, any other duties of the manager of the risk control function shall always be independent of the conduct of the business and shall not entail any conflict of interest with the functions of the supervisory function.
For the purposes of assessing credit and counterparty credit risk, a credit institution shall have an internal assessment methodology sufficient to assess the quality, scale and diversity of the activity of the credit institution, which shall not be based solely or on a planned basis. An external credit assessment of the counterparty or financial instrument.
A credit institution which is significant within the meaning of Article 10 (7) or (8) shall endeavour to use internal classification methods for the calculation of the own funds requirement and at least for the assessment of relevant major credit risks to which: At the same time involves a large number of significant counterparties, as well as an assessment of the essential counterparty risk associated with debt financing instruments in the trading book, where the counterparty risk exposures to a large number of counterparties.
The lending shall be based on sound and clearly defined criteria. There must be clear and documented policies and procedures for the granting of credit, conversion of credit conditions, credit reform and refinancing.
A credit institution shall have internal procedures for assessing individual credit and counterparty risks. It shall not rely solely or schematically on an external credit assessment in its assessment methods. In addition, where the credit institution's own funds calculations are based on an external credit assessment or the absence of a credit assessment of a particular credit risk, the credit institution shall itself assess the The number of requirements.
The credit institution shall manage and monitor the assets and liabilities of assets and liabilities that include credit risk on an ongoing basis. It shall have processes to identify and control problems and make them sufficiently depreciation and loss accounts. Credit claims shall be kept sufficiently diversified in accordance with the credit strategy agreed by the credit institution's target market and the credit institution's government.
The credit institution shall be prepared for the failure of its risk management and credit risk mitigation techniques. It shall have documented policies and procedures for residual risk.
The credit institution shall prepare for the risk-concentration risk. It shall have documented policies and procedures in this regard. When managing the risk of concentration, counterparties shall take into account at least the OTC derivatives, central counterparties and trade repositories as referred to in Article 2 (1) of Regulation (EU) No 648/2012 Central counterparties, the related parties within the meaning of Section 13 of Chapter 15 of the credit institution, in the same sector or in the same geographical area, as well as the same assets producing the same assets. In addition, it shall take into account the risk arising from credit risk mitigation techniques and the high indirect credit risks, such as the collateral concentration of one of the collateral issuers.
The credit institution shall be prepared for the risks associated with the securitisation of assets or liabilities. Sufficient management of these risks shall ensure that risk assessment and decisions are based on the real value and nature of the risks. It shall have documented policies and procedures for the management of the risk of securitisation.
A credit institution shall have a plan to set up a renewable securitisation arrangement which provides that it has sufficient liquidity to provide for contractual and early repayments in relation to the arrangements.
A credit institution shall have a methodology for identifying, measuring and managing relevant market risks. It shall have documented policies and procedures for the management of market risk.
It shall be adequately prepared for the liquidity needs of short and long market positions. A credit institution shall have sufficient internal capital to cover the relevant market risk, which shall not be subject to own funds.
Where a credit institution is able to calculate the amount of own funds required to cover the market position risk in accordance with Chapter 2 of Title IV of Part Three of the EU Solvency Regulation, the amount of one or more of the positions in one or more sub-indices shall be: Or the position of a number of stock-index futures or other equity indices, the credit institution shall have sufficient internal capital to cover the risk of loss arising from that position by the fact that the futures or other derivative instruments Value adjustments do not fully respect its underlying assets Value adjustments. The credit institution shall also do so when it is in possession of positions in the opposite direction in respect of equity futures which do not have a full maturity or composition.
Where a credit institution complies with Article 345 of the EU Solvency Regulation, the institution shall ensure that it has sufficient internal capital to cover the risk of loss resulting from the date of issue of the subscription commitment and the following: In the course of the day.
The credit institution shall have the means to identify, assess and manage the risks associated with fluctuations in interest rates that affect the institution's financial account. It shall have a documented policy and procedures for the management of interest rate risk management.
A credit institution shall have a methodology for identifying, assessing and managing operational risks. It must be prepared, at least, for the risk of modelling and for the occurrence of serious risk events. The institution must clearly describe what it sees as operational risks. It shall have written policies and procedures on the management of operational risk.
The credit institution shall have adequate, secure and operational payment, security and other information systems.
The credit institution shall have contingency and continuity plans to prepare for serious business disruptions, to safeguard the continuity of operations and to limit damage in the event of disturbance.
A credit institution shall have efficient and reliable strategies and systems to identify, measure, control and monitor liquidity risk, intraday risk and risk profile at appropriate times of adequate liquidity and The maintenance of liquidity buffers. The management of the liquidity risk shall be consistent with the credit institution's different business lines, currencies, branches of the credit institution and its liquidity risk associated with legal entities belonging to its consolidating group. The risk of liquidity and its costs and benefits must be capable of being targeted by sufficient means.
The strategies and systems referred to in paragraph 1 shall be effective and proportionate in relation to the scope and complexity of the institution's business, the risk profile and the liquidity risk thresholds established by the institution's Board of Directors. They shall also be proportionate to the importance of the institution in each EEA State in which it operates. The policies and procedures for strategies and systems shall be documented. The institution shall ensure that the management and staff of each business area are familiar with the recognised boundaries of the institution's liquidity risk.
A credit institution shall have a methodology to identify, measure, manage and monitor its financial positions. The methodology shall include both the period considered and the relevant cash flows from assets, liabilities, off-balance-sheet items, contingent liabilities, and possible effects of any repudiation.
A credit institution shall specify, in the form of collateral, or otherwise secured, a property which is available as collateral for the credit institution's exposures. It shall also be able to specify to which legal entity the asset legally belongs, in which country the asset is legally registered or recognised and how quickly property can be used for the credit institution's exposures Into a pot.
A credit institution which, under Article 10 of the mortgage credit Banking Act, has been authorised to engage in a mortgage lending business or applies for such authorisation shall set a quantitative target for the proportional share of the mortgage credit banking activity throughout the credit institution. Business. The objective shall be set in such a way that it does not jeopardise the refinancing of the credit institution's business activities other than the mortgage lending business.
The credit institution shall take into account legal and operational limitations in relation to any possible transfer of assets and to the transfer of collateral rights between the different legal units of the credit institution, and In the EEA region and beyond.
The credit institution shall endeavour to make sufficient use of limite systems, liquidity buffers and other liquidity risk mitigation techniques in order to withstand a wide range of load events and to maintain a sufficiently diversified range of Financial structure and sources of financing. It shall regularly assess the methods it has used.
The credit institution shall regularly review, at least annually, alternative outcomes and risk factors for its liquidity position, and assess the assumptions on the basis of which it makes its financial position Decisions.
In examining alternative scenarios, the credit institution shall take into account, in addition to the cash flows of the balance sheet and liabilities, at least off-balance-sheet items and other contingent liabilities related to the securitisation; and Other special purpose vehicles. The potential impact of the different outlooks shall be considered by the credit institutions, on a market-by-market basis and in a combination of these features. Different timeframes and different degrees of severity of load situations must be taken into account.
The credit institution shall adjust its strategy, operational and liquidity limits, as well as liquidity, to the results of the different outcomes of the different implementation prospects.
A credit institution shall have a liquidity return plan with a view to reducing liquidity, such as the liquidity crisis of the branch established in another Member State. The return plan shall include adequate strategies and operational guidelines approved by the management, in accordance with which the plan can be implemented immediately. They shall include at least the management of eligible assets held in the currency of the host Member State or in a third country, where appropriate.
The credit institution shall test the return plan and, if necessary, update it on the basis of the implementation prospects and changes referred to in Article 20, at least annually.
A credit institution shall have methods to identify, control and monitor the risk of excessive debt. It shall use the minimum self-sufficiency rate set out in Article 429 of the EU Solvency Regulation and, in any case, to monitor the imbalance between assets and liabilities. It shall have documented policies and procedures for the management of the risk of excessive debt.
The credit institution shall be careful to avoid excessive debt and shall take into account any increase in the risk of debt if the credit institution's own funds are reduced as a result of estimated or realised losses.
A credit institution which has been authorised in accordance with the EU Solvency Regulation to use internal rating methodologies for the calculation of risk-weighted exposure amounts or own funds requirements shall inform the financial supervision of the results of the calculations The responsible positions or positions in the reference portfolio, with the exception of operational risk, and the internal methodologies used for the calculation, at least once a year.
Financial supervision may give more detailed provisions on credit risk assessment referred to in Article 9 (1) and (2), the credit and counterparty risk referred to in Article 10, the market risk referred to in Article 14, Article 16 The operational risk, the liquidity risk referred to in Article 17 and the plan referred to in Article 21.
The institution and the undertakings included in the same consolidation group may, notwithstanding the restrictions on the award of such contracts elsewhere in the law, make a financial contribution to the contract satisfying the requirements of this Chapter. To another undertaking belonging to the consolidating group if it fulfils the conditions for early intervention provided for in Article 5 (a) of Chapter 11.
Notwithstanding paragraph 1, the institution and its undertaking belonging to the consolidating group shall comply with the provisions of the EU Capital Requirements Regulation, the European Union Regulation on the prudential supervision of institutions, and The credit institutions Directive provides for the limitation of transactions between undertakings in the consolidation group.
A company belonging to a consolidation group which is a party to the grant agreement may grant financial support to another undertaking belonging to the consolidating group by granting a loan, providing a guarantee or a guarantee.
The grant agreement shall agree on the financial contribution to be paid in the form of a market-based consideration or the basis of assessment of the consideration. The response shall be determined by the date on which financial support is provided. The grant agreement shall also meet the following requirements:
(1) each party to the financing agreement shall decide on the financing agreement independently;
(2) participation in the grant agreement is in the interest of the participating company;
(3) the parties to the financial assistance agreement providing financial assistance shall have the necessary information on the companies benefiting from the aid in drawing up the grant agreement and prior to the granting of financial assistance;
(4) the consideration of the financial assistance contract may be agreed between the parties, irrespective of whether the consideration is based on the information which the parties are required to disclose under the law;
(5) The effects of the change in the market price resulting from the factors outside the consolidating group need not be taken into account when the operative event for the consideration of the financial contribution is agreed.
Financial supervision shall, upon application by the consolidating group's parent undertaking, adopt a financial agreement of the consolidating group if the financial supervision is equivalent to the consolidated supervision of an institution belonging to the group, and the institution is not a subsidiary of a credit institution which: The consolidated supervision is carried out by another EEA State authority. The application shall be accompanied by a draft agreement and shall indicate the undertakings within the consolidating group which are to be covered by the Agreement.
Financial supervision shall, without delay, bring the application to the satisfaction of the competent authority responsible for the supervision of the proposed subsidiary for a joint decision.
Financial supervision may prohibit the conclusion of an agreement if the proposed agreement does not meet the conditions laid down in this Chapter.
Financial supervision and other competent authorities shall endeavour to reach a joint decision on whether the proposed financial assistance agreement meets the conditions laid down in this Chapter, within four months from the date of receipt of the financial supervision by the financial supervision The application referred to in paragraph 1.
If no joint decision is reached between the financial supervision and the other competent authorities within the period referred to in paragraph 4, the financial supervision shall take its own decision. The decision shall take into account the positions and reservations expressed by the other competent authorities within four months. Financial supervision shall notify the other competent authorities of the decision.
If, within the period referred to in paragraph 4, the competent authority has referred the matter to the European Banking Authority in accordance with Article 19 of the European Banking Supervision Regulation, the financial supervision shall defer its decision, wait The decision of the European Banking Authority and its own decision in accordance with the decision of the European Banking Authority.
The matter shall not be referred to the European Banking Authority after the expiry of the period referred to in paragraph 4 or a joint decision.
If the financial supervision has received a notification from the other EEA Surveillance Authority responsible for the consolidated supervision of the institution, that a subsidiary undertaking belonging to the consolidating group in Finland is proposed as a consolidated group To the financial support agreement, the financial supervision shall assess whether the proposed financial assistance agreement complies with the conditions laid down in this Chapter.
If the financial supervision concludes that the draft financial assistance agreement referred to in paragraph 1 does not comply with the requirements laid down in this Act, the financial supervision shall notify its decision to the parent undertaking of the consolidating group and its consolidated supervision The other EEA Surveillance Authority.
In the absence of a joint decision between financial supervision and other competent authorities within the period referred to in Article 2 (4) of the Consolidated Financial Support Agreement, the financial supervision may transfer the proposed financial assistance contract To the European Banking Authority within a period of four months.
The undertaking party to the Agreement shall bring forward the proposal for a financial support agreement, approved by the Financial Supervisory Authority, for approval by the General Meeting, the Cooperative Meeting or the hosts.
The grant agreement shall enter into force when the management body referred to in paragraph 1 of the undertaking party to the Agreement has, for its part, approved the contract and authorised the firm to decide definitively that, where appropriate, the undertaking provides or Receive financial assistance as provided for in the financial assistance agreement and provided for in this Chapter.
The government of the undertaking party to the grant agreement shall report annually to the managing body referred to in paragraph 1 on the Agreement and on the implementation of any decisions taken under it.
Financial supervision shall transmit to the Financial Stability Board the financial support agreements it has approved and the amendments thereto.
The financial assistance shall fulfil the following conditions:
(1) it is estimated that it will remove the financial difficulties of the recipient undertaking;
(2) the purpose of the provision is to maintain or restore the solvency or liquidity of the entire consolidation group or its undertaking, which is also in the interest of the undertaking providing financial support;
3) it is provided in accordance with this law and is in consideration;
(4) on the basis of the information available to the company's government at the time when it was granted, it can be reasonably estimated that the recipient undertaking will repay the aid received and the remuneration agreed for it;
(5) it does not jeopardise the liquidity or solvency of an undertaking providing support;
(6) the undertaking providing it fulfils the requirements laid down in law at the time of the provision of the aid and after the granting of the aid, unless the financial supervision provides for such derogation;
(7) it does not obstruct the reorganisation of the activities which may be necessary in the undertaking granting the aid.
In accordance with the agreement on the grant or receipt of financial assistance, the decision shall be taken by the Government of the undertaking party to the grant agreement.
The decision on the provision of financial assistance shall set out the objectives of the financial assistance proposed and, in particular, demonstrate that the requirements laid down in this Chapter are fulfilled.
The decision to grant financial assistance shall be notified to the Financial Supervisory Authority or to any other authority responsible for supervision of the consolidating group, the authority responsible for the supervision of the receiving undertaking and the European To the Authority. The notification shall set out the objectives of the financial assistance proposed and demonstrate that the financial assistance proposed meets the requirements laid down in this Chapter. The notification shall be accompanied by a financial support agreement.
Financial supervision shall notify the decision without delay to the other EEA authorities responsible for the supervision of undertakings belonging to the consolidating group and to the other supervisory colleges referred to in Article 65b of the Law on Financial Supervision To the supervisory authorities and to the authorities of the group resolution group.
The financial supervision may, within five working days of receiving the notification referred to in Article 7, prohibit or restrict the provision of financial assistance if the requirements laid down in this Chapter are not met. Financial supervision shall notify its decision to prohibit or restrict financial assistance without delay to the European Banking Authority, to the other EEA State authorities responsible for the supervision of undertakings belonging to the consolidating group, and Other supervisory authorities within the colleges of supervisors referred to in Article 65b of the Law on Financial supervision and to the authorities of the group resolution college.
Where the financial supervision prohibits the provision of financial assistance or limits it, the financial supervision shall, at the request of the supervisory authority responsible for the supervision of the acquiring undertaking, provide an assessment of whether the Recovery plan, or where the receiving undertaking is required to draw up a separate recovery plan, the company's recovery plan, the requirements laid down in Article 10 (10) of Chapter 8a.
Where the second EEA Surveillance Authority has prohibited financial assistance or restricted its provision to a company under the supervision of the financial supervision, the financial supervision may refer the matter to the European Banking Authority within two days following receipt of the That information.
Financial support shall not be paid until the financial supervision has completed the period referred to in this Article or the time limit referred to in paragraph 1.
The undertakings party to the grant agreement shall disclose the essential terms of the contract and the names of the undertakings concerned and shall review the published information at least once a year, in accordance with the provisions of the EU Capital Requirements Regulation Articles 431 to 434 provide for the publication of information on the financial position of the institution.
A credit institution shall maintain its own funds and consolidated own funds at least in the EU Capital Requirements Regulation as well as the amount provided for in this Chapter. In addition, financial supervision may impose a supplementary capital requirement for the credit institution as provided for in Article 6 of Chapter 11.
Own resources refer to the own funds referred to in Article 4 (1) (118) of the EU Capital Requirements Regulation. The amount of consolidated own funds shall be calculated as provided for in that Regulation.
For the total risk, the total risk referred to in Article 92 (3) of the EU Solvency Regulation is defined in this Chapter.
The share capital, equity or basic capital of a credit institution shall be at least EUR 5 million. The capital must be fully registered when the authorisation is granted.
The credit institution shall maintain its own funds at least in accordance with paragraph 1, subject to paragraph 3.
By way of derogation from paragraph 2, where the amount of own funds of the credit institution is reduced by law, regulation or administrative provision, the credit institution shall, by way of derogation from paragraph 2, have at least the amount which it had immediately before the law, the Regulation or the The entry into force of the Authority, but at least EUR 1 million. The credit institution to which this article applies shall not allocate funds to the shareholder or unit owner as long as the amount of own funds is below the amount provided for in paragraph 1.
The credit institution shall have core capital and consolidated core capital in addition to what is provided for in the EU Capital Requirements Regulation, the amount that covers the additional capital requirements and consolidated capital requirements set out in this Chapter.
The total additional capital requirement shall consist of a fixed capital requirement, a variable capital requirement on the basis of the total economic variables and the additional capital requirement of the credit institution which is relevant to the financial system.
The fixed capital add-on shall be 2,5 % of the total risk of the credit institution.
The variable capital requirement shall be determined in accordance with Articles 4 to 6. The variable capital requirement shall not exceed 2,5 % of the total risk of the credit institution.
The capital requirement for a credit institution which is important for the financial system shall be determined in accordance with Articles 7 to 9. For the global financial system, the additional capital requirement of a significant credit institution shall not exceed 3,5 % and the additional capital requirement of a credit institution which is important for the financial system shall not exceed 2,0 % of the credit institution 's Of the total risk.
The provisions of paragraphs 2 to 4 shall also apply to the consolidated capital requirement. As regards the obligation of the credit institution to comply with the consolidated Minimum Capital Requirement, the obligation of the credit institution to meet the obligation of credit institutions to comply with the consolidated fixed capital requirement and the consolidated variable The Additional Capital Requirement and the Additional Capital Requirement of the other credit institution which is important for the financial system referred to in Article 8. The credit institution referred to in Article 7 fulfils the consolidated capital requirement of a credit institution which is important for the global financial system, in accordance with that Article.
The amount of the variable capital requirement shall be subject to financial supervision. The financial supervision, in cooperation with the Ministry of Finance and the Bank of Finland, shall, on a quarterly basis, assess the need to set a variable capital requirement, amend or maintain the existing requirement. The decision shall be taken within three calendar months of the end of each quarter.
Financial supervision shall, in addition to the provisions of paragraph 1, take the issue of the establishment or amendment of a variable capital requirement without delay if it is required by the Ministry of Finance or the Bank of Finland or if the The Systemic Risk Board has issued a recommendation or a warning to the Finnish financial market.
Before taking a decision as referred to in paragraph 1, financial supervision shall be consulted by the Ministry of Finance, the Ministry of Social Affairs and Health and the Bank of Finland.
The variable additional capital requirement shall enter into force twelve months after the date of the decision, unless the Financial Supervision for a specific reason decides on the date of the earlier entry into force. However, the decision to reduce the additional capital requirement will enter into force immediately.
The decision referred to in this Article shall indicate the period of validity of the decision, the amount of the total additional capital requirement and any change to the previous decision, the reasons for the decision, any specific reasons for the date of the change And other relevant information.
Financial supervision shall disclose the decision referred to in this Article on its website.
The information to be annexed to the decision referred to in this Article and the publication of the decision shall be governed by more detailed provisions by a decree of the Ministry of Finance.
The ECB's right to impose a variable capital requirement higher than the additional capital requirement imposed in accordance with this Article in accordance with this Article shall be laid down in the yVM Regulation.
The primary criterion for determining the variable capital requirement is the deviation of the ratio between the credit line and gross domestic product in this respect from long-term development.
In addition to the criterion referred to in paragraph 1, or for a specific reason, the imposition of a variable capital requirement may be established as one or more other developments in the activity of the credit institution and the national economy or part thereof. The relationship between development and development.
In addition to the provisions of this Article, the additional capital requirement shall take into account the recommendations and warnings issued by the European Systemic Risk Board as regards the Finnish financial markets.
More detailed provisions on the criteria for determining the variable capital requirement are laid down by a decree of the Ministry of Finance.
Where a credit institution has lots of lots to read in more than one country, the total risk amount shall be calculated separately for each such State and the additional capital requirement for each of the participating States shall be calculated separately for each of those States. In respect of such participation, on the basis of the legislation of that State.
For the purposes of applying this Article, a variable capital requirement for the credit institution shall be the aggregated amount of the country capital requirements calculated in accordance with paragraph 1.
Where a credit institution has an overall risk material in a non-EEA State which does not provide for an additional capital requirement within the meaning of this Article, the additional capital requirement shall be determined in accordance with this law.
For the purposes of the global financial system, a credit institution is defined in this Article as a credit institution whose insolvency may jeopardise the stability of the global financial system.
A credit institution which is important for the global financial system shall have core capital, in addition to what is otherwise provided for, the amount provided for in this Article if the credit institution is not included in the consolidated supervision of a credit institution; Of which the Financial Supervisory Authority or the other EEA Surveillance Authority is responsible.
A credit institution, other than that of a global financial system within the meaning of paragraph 2, shall have a consolidated core capital, in addition to what is otherwise provided for, the amount provided for in this Article if the financial supervision A credit institution's consolidated supervision and a credit institution is not a subsidiary of a credit institution or a participating entity whose consolidated supervision at the level of the parent undertaking is carried out by the other EEA Surveillance Authority.
Financial supervision shall divide the credit institutions referred to in paragraph 1 to six categories, the additional capital requirement calculated in accordance with the following table as a percentage of the total risk of the credit institution:
| Category | Additional capital requirement |
| 1 | 1.0 % |
| 2 | 1.5 % |
| 3 | 2.0 % |
| 4 | 2.5 % |
| 5 | 3.0 % |
| 6 | 3.5 % |
Financial supervision shall, on its website, make public the principles underlying the application of this Article, credit institutions to which this Article applies, and the additional capital requirement for each such credit institution under this Article 4 In the same article as the percentage.
The European Commission Regulation lays down the principles governing the identification of credit institutions within the meaning of this Article.
For the purposes of this Article, a credit institution, which is important for the financial system, refers to a credit institution other than that referred to in Article 7, with a balance sheet total of at least EUR 1 billion, whose insolvency would be endangered by Finland or the European Financial stability in the rest of the Union.
The credit institution referred to in this Article shall have core capital, in addition to what is otherwise provided for, the amount provided for in this Article if the credit institution is not included in the consolidated supervision of a credit institution which is responsible for the supervision of the financial institution. (19/12/199S)
The credit institution referred to in this Article shall have a consolidated core capital, in addition to what is otherwise provided for, the amount provided for in this Article if the financial supervision is equivalent to the consolidated supervision of the credit institution. (19/12/199S)
Financial supervision shall divide the credit institutions referred to in paragraph 1 to five categories whose additional capital requirement is calculated as a percentage of the total risk of the credit institution as a percentage according to the following table:
| Category | Additional capital requirement |
| 1 | 0 % |
| 2 | 0.5 % |
| 3 | 1.0 % |
| 4 | 1.5 % |
| 5 | 2.0 % |
Financial supervision shall divide the credit institutions referred to in paragraph 1 to one or more of the categories referred to in paragraph 4 on the basis of the following criteria:
(1) the size of the credit institution, measured by the total amount of its exposures or the balance sheet or consolidated balance sheet;
(2) exposures to other credit institutions and exposures to other credit institutions and other direct links with the financial system included in the credit institution and its consolidated supervision;
(3) the replacement of critical functions of the credit institution and its undertakings included in its consolidated supervision;
(4) the scope and importance of the cross-border activity of the credit institution and its undertakings subject to consolidated supervision in Finland and the European Economic Area.
By way of derogation from this Article,
(1) where a credit institution is a credit institution authorised in another EEA State in accordance with Article 7 (1) or in paragraph 1 of this Article ( Parent undertaking ) A subsidiary credit institution within the meaning of paragraph 2 of this Article, and the other EEA State authority shall be responsible for the consolidated supervision of the parent undertaking, the additional capital requirement under this section of the credit institution shall not exceed 1 % of the total risk; Or, in so far as the calculated amount is less than that applicable to the parent undertaking, or the amount corresponding to the consolidated additional capital requirement referred to in this Article, not more than that corresponding to the consolidated additional capital requirement applicable to the parent undertaking Quantity;
(2) where a credit institution is a foreign credit institution authorised in another EEA State, authorised in this Article ( Parent undertaking ) A subsidiary institution referred to in paragraph 3, and the other EEA State authority shall be responsible for the consolidated supervision of the parent undertaking, the consolidated capital requirement of the credit institution in accordance with this Article shall not exceed 1 % of its consolidated Of the amount of the total risk, or, where the consolidated supplementary capital requirement is lower than that applicable to the parent undertaking, or the amount corresponding to the consolidated additional capital requirement referred to in this Article, up to a maximum of that parent undertaking; The amount corresponding to the applicable consolidated additional capital requirement.
(19/12/199S)Financial supervision shall, on its website, publish the principles governing the application of this Article, credit institutions to which this Article applies, and the additional capital requirement for each such credit institution under this Article 4 In the same article as the percentage.
The financial supervision shall verify annually, in accordance with this Article, the additional capital requirement calculated for each credit institution. Where a credit institution exceeds or falls below the limit laid down in paragraph 1 or the capital requirement referred to in this Article of a credit institution changes, the financial supervision shall take a decision. In the event of a tightening of the requirements applicable to the institution, the financial supervision shall stipulate a period of at least six months for the institution to comply with the following requirements.
Where a credit institution could be subject to the additional capital requirement referred to in Articles 7 and 8, the credit institution shall only fulfil the higher requirements.
By way of derogation from Article 8 of Chapter 11, a credit institution which fails to comply with the capital requirement for the purposes of this Chapter shall be obliged to reduce its own funds by limiting the distribution of profits as provided for in paragraph 2.
The minimum amount required for the accumulation of own funds referred to in paragraph 1 shall be calculated by multiplying the amount of distributable assets by the coefficient specified in the following table. Under the Additional Capital Requirement, the relative share of the sub-transaction in the capital charge shall determine the multiplication factor in which distributable assets are multipled to determine the minimum amount of capital accumulation. The information is determined as follows:
| Relative share of the vessel | I told |
| 0-Less than 25 % | 0 |
| 25-less than 50 % | 0,2 |
| 50-less than 75 % | 0,4 |
| 75 - < 100 | 0,6 |
The credit institution referred to in paragraph 1 shall, within a period of five working days, or, subject to the supervision of the financial supervision, 10 working days, within the period from which it has found that it does not comply with the Additional Capital Requirement, draw up and submit to the financial supervision in Article 7 of Chapter 11 Which the credit institution intends to take to comply with the Additional Capital Requirement.
Where a credit institution has not submitted a plan to the Financial Supervisory Committee within the prescribed period, the financial supervision may impose the additional capital requirement referred to in Article 6 of Chapter 11 of Chapter 11. The additional capital requirement referred to in this paragraph shall not exceed the amount by which the own funds referred to in Article 1 of the credit institution are below the EU Solvency Capital Requirement and the Additional Capital Requirement referred to in Article 3, and The sum of the sum of the additional capital requirement previously set pursuant to Section 6 of Chapter 11.
Financial supervision shall provide more detailed provisions for the reporting of own funds referred to in paragraph 1 and the notification of the information necessary for its supervision in respect of the financial supervision and the content of the plan referred to in paragraph 3 The requirements to be imposed.
The provisions of this section on own resources and capital requirements also apply to the consolidated Additional Capital Requirement and consolidated own resources.
The credit institution's exposures and consolidated customer risks, client risks and consolidated client risks, and the quality of customer risks and consolidated client risk management Requirements are laid down in the EU crd.
The risk of customer exposure under Article 493 (3) of the EU Solvency Regulation is regulated by a decree of the Ministry of Finance.
The derogation referred to in Article 493 (3) (c) of the EU Solvency Regulation may be applied to the exposure of the customer to the parent undertaking of the credit institution or to another subsidiary of the parent undertaking, only with the permission of the Financial Supervisory Authority.
The credit institution shall disclose information on its financial position as set out in the eighth part of the EU Solvency Regulation.
In addition to the provisions of paragraph 1, the credit institution shall, in the absence of an equivalent obligation in the rest of the law, communicate in the context of its annual accounts for each foreign country in which the credit institution or its holding entity has a branch or Subsidiary:
(1) the State of the branch and of the subsidiary, the names of the subsidiaries and the nature of the business carried out in the country of location;
(2) the sum of the proceeds of the business referred to in paragraph 1;
(3) the total number of business staff referred to in paragraph 1 in person-years;
(4) the aggregate amount of the profit or loss before tax;
(5) the aggregate amount of income tax for the financial year;
(6) the sum of the public capital injections received and the aggregate amount of loans and guarantees provided by general government.
Where a credit institution or its holding entity has at least one branch and one subsidiary or at least two subsidiaries within the meaning of paragraph 2, the total amount referred to in paragraph 2 (2) and (4) shall be reduced The significant profits and costs incurred by the group companies in the country where they are located.
In addition to the provisions of paragraphs 1 and 2, the credit institution shall, in the absence of a corresponding obligation in the rest of the law, indicate the ratio of the balance sheet to the balance sheet each year.
Financial supervision shall specify the information referred to in paragraph 2 to the European Commission without delay for each credit institution referred to in Article 8.
Financial supervision shall provide more detailed provisions for the implementation of Articles 4 to 10 and 12 of this Chapter.
The credit institution shall report quarterly to the financial supervision of the Additional Capital Requirement set out in Section 3 of Chapter 10, subject to the enhanced surveillance referred to in Article 3 (3) or Article 10 (2) of this Chapter On an extended obligation to provide information. For the rest, the obligation to provide information is provided for in the EU Capital Requirements Regulation.
Financial supervision shall provide a regular assessment of whether a credit institution meets the requirements of Chapters 9 and 10 and the EU Capital Requirements Regulation. The extent, scope and complexity of the credit institution's activities and the extent to which a credit institution is a credit institution in terms of financial stability shall take into account the scale of the assessment and the frequency of evaluation. The assessment shall be carried out at least annually on credit institutions referred to in Article 3 (2).
The assessment shall include, in addition to the provisions of paragraph 1, at least the following:
(1) the results of the credit institution's load tests if the credit institution uses internal models for calculating the capital requirement for credit risk or market risk;
(2) the concentration risks and the management of the credit institution, the geographical spread of counterparty risks and the treatment of potential dispersion effects in the management of solvency, including for the rest of the EU's prudential regulation; Restrictions on client risks;
(3) adequacy of the principles of residual risk management resulting from the use of credit risk mitigation techniques;
(4) the adequacy of the minimum amount of own funds needed to cover risks arising from the securitised items and the effect of any arrangements under which the credit institution may have been subject to such items immediately; or An indirect risk;
(5) the adequacy of the liquidity risk and the adequacy of the principles of measurement and management, as well as the financial stability plan, and the potential impact on the stability of the financial system in the EEA States in whose territory the credit institution operates;
(6) an assessment as to whether the trading book is sufficiently prudent to avoid significant losses to the credit institution when it is rapidly sold or hedges in the trading book;
(7) an estimate of the total balance of the balance sheet on the basis of the leverage ratio, the risk of over-indebtedness, systemic risk and other measuring instruments;
8) the business model of the credit institution;
(9) the management principles of the credit institution and the performance of its members and the Executive Director.
If the interest rate risk referred to in paragraph 2 (1) may reduce the credit institution's own funds or consolidated own funds more than 20 % in the event of a sudden change in interest rates of at least 2 percentage points, Financial supervision shall require the credit institution to explain the measures it intends to take in response to the interest rate risk. Financial supervision may provide more detailed provisions on the definition of the interest rate risk referred to in this paragraph.
Financial supervision shall be promoted in its supervisory activities, taking into account the quality, scale and complexity of the activities of the credit institution, the credit assessment of its internal clients and the use of internal credit ratings. In the management of the solvency of a credit institution, in particular with regard to counterparty credit risk and the specific risk associated with lending transactions, and the use of internal methodologies in the credit institution's liquidity management.
Financial supervision shall be subject to the annual supervision of a programme of supervision of credit institutions under its supervision, indicating how and to what extent each credit institution is subject to supervision over that year. The programme shall also show the credit institutions subject to enhanced surveillance as referred to in paragraph 3, as well as checks on credit institutions and its foreign branches and subsidiaries.
Financial supervision shall be included in the plan referred to in paragraph 1:
(1) all credit institutions in which the exposure test or the assessment referred to in Article 2 have exposed significant threats to the continuity of the credit institution's activities or the violation of the law;
(2) all credit institutions that are relevant to the stability of the global financial system;
(3) other credit institutions which the financial supervision considers necessary to include in the plan.
Paragraph 1, Enhanced surveillance Means:
(1) more frequent checking of the credit institution;
2) The establishment of an ombudsman referred to in Article 29 of the Law on Financial Supervision, or the continued presence of a representative of the Financial Supervisory Authority in the credit institution;
(3) more frequent and more detailed regular reporting of the financial position of the credit institution;
(4) more frequent assessment of the credit institution's strategies and business plans;
(5) checking of individual risks or risk areas.
Where appropriate, the financial supervision shall be carried out by a credit institution to support the drawing up of the assessment referred to in Article 2.
Financial supervision shall, on a regular basis and at least every three years, check that a credit institution that has received a risk-weighted exposure amount or own funds under the EU Solvency Regulation For the calculation of the minimum quantity, fulfils the conditions for the authorisation and that the methods are adequate and appropriate, taking into account, in particular, any changes in the activities of the credit institution and the application of internal procedures 3 A deviation from the results obtained in the reference portfolio referred to in paragraph Comparable results of credit institutions.
If the internal procedures referred to in this Article do not comply with the requirements of the EU Solvency Regulation, insufficient coverage of the credit institution's risks or the capital requirement calculated in accordance with paragraph 3 is significantly different from that of the credit institution. For the corresponding capital requirements calculated by other credit institutions, financial supervision may require a credit institution to make the necessary changes to the methodology or withdraw its authorisation if the credit institution is not in the financial supervision The necessary amendments to the methodology. When applying this Article, financial supervision shall take into account the explanations provided by the European Banking Authority regarding the harmonisation of the use of internal procedures and the objectives of the use of internal procedures.
The credit institution referred to in paragraph 1 shall at least annually calculate the capital requirement under the internal methodology used by the credit institution for the reference portfolio defined by the European Banking Authority. The results of the calculations in accordance with this paragraph and the methodologies followed shall be communicated to the Financial Supervisory Authority and the European Banking Authority in a manner that is determined by them.
The provisions of this Article shall not apply to the calculation of the minimum own funds required to cover operational risk.
Financial supervision may, under the conditions laid down in Articles 6, 9, 10 and 10a, take control measures under those Articles if:
(1) The financial supervision shall, on the basis of a load test in accordance with Article 4, or other compelling reasons suggest that a credit institution may not be in a position to fulfil the authorisation conditions or perform its obligations during the next 12 months; Or
(2) a credit institution or an undertaking belonging to the same consolidation group that is otherwise in breach of its obligations under this Act or the EU Capital Requirements Regulation.
In addition to the provisions of paragraph 1, financial supervision may take the form of such supervision if the credit institution has indicated that it needs exceptional public support within the meaning of Article 1 (2) (3) of Chapter 4 of the Resolution.
The credit institution or its parent undertaking shall immediately inform the Financial Supervisory Authority and the Financial Stability Agency of the fulfilment of the conditions laid down in paragraph 1, paragraph 1 and paragraph 2.
Financial supervision shall inform the Financial Stability Agency, the Ministry of Finance, the Bank of Finland and the Finnish Deposit Guarantee Fund as provided for in paragraph 3, as provided for in paragraph 3. In addition, the financial supervision shall inform the Agency of the supervision measures taken under Articles 6, 9, 10 or 10a.
Paragraph 4 shall also apply to the authority responsible for the authority of the EEA State referred to in paragraph 4 of the EEA State and the Deposit Guarantee Fund, where the credit institution has a parent undertaking or a subsidiary of the group, or a credit institution Or a branch of another credit institution belonging to its group, and, where such other EEA State is responsible for macro-prudential supervision other than that authority, such other ESA Surveillance Authority, if the recipient of the information is: Shall be bound by the obligation of professional secrecy equivalent to that law.
Financial supervision shall, where the adequacy of the credit institution's own funds in relation to the overall risk cannot be adequately ensured by any other appropriate means, impose a higher requirement on the credit institution's core capital To the minimum amount provided for in the EU Solvency Regulation. The capital requirement laid down in this Article may be set at a maximum of three years.
Financial supervision may set the capital requirement referred to in this Article if:
(1) On the basis of the assessment provided for in Article 2 or on the basis of an assessment of the criteria set out in advance, considers that:
(a) the amount of own funds of the credit institution is insufficient to fulfil the capital requirement required by the credit institution in accordance with Article 1 of Chapter 9; or
(b) the credit institution has assessed its capital needs and its related capital target, or the amount of own funds required to cover the major exposures covered by the EU Solvency Regulation; Or in an incorrect manner; or
(2) Article 5a (1) (1) is fulfilled.
(19/12/199S)Financial supervision may, in addition, set the additional capital requirement referred to in this Article in so far as the credit institution has balance sheet items or off-balance-sheet commitments that are not subject to the capital requirement in Chapter 10 or the EU A manifestly insufficient capital charge has been set in the Capital Requirements Regulation or on which risks are identified.
In addition to the provisions of paragraph 1, financial supervision may, subject to the conditions laid down in paragraph 1, impose a consolidated capital requirement on a credit institution subject to a consolidated financial position on the basis of its consolidated financial position.
In applying this Article, financial supervision shall take into account:
(1) the qualitative adequacy of the procedures for ensuring the adequacy of the internal capital referred to in Article 1 of Chapter 9 of the credit institution and the objectives set by the credit institution under that Article;
(2) the overall adequacy of the management, control and risk management systems of the credit institution;
(3) the potential risks to the stability of the financial system as a whole.
Where the credit institution's own funds or consolidated own funds are less than less than the amount laid down in the EU Capital Requirements Regulation or in this Act, the credit institution or the participating entity shall immediately inform the Financial Supervisory Board, submit a plan To meet the minimum level of own funds and consolidated own resources and take measures to implement the plan. Financial supervision shall, upon receipt of the notification referred to above or otherwise, the amount required for the reduction of own funds or consolidated own funds, set a time limit within which the credit institution's own funds and consolidated own The requirement for funds must be fulfilled at the risk of withdrawal of authorisation. If, after the expiry of the deadline, the requirement has not been met, the financial supervision may take a decision to withdraw the authorisation.
Where a credit institution is a subsidiary of a financial and insurance group within the meaning of the Law on the supervision of financial and insurance groups, or a subsidiary of the parent undertaking of such a group, the amount of own funds of the group falls below that law The amount provided for in Article 19, the credit institution shall be subject to the provisions of paragraph 1. Before taking a decision as referred to in paragraph 1, financial supervision shall request an opinion from the other key supervisory authorities within the meaning of that law.
Where the credit institution's own funds or consolidated own funds are below the capital requirement laid down in the EU Capital Requirements Regulation or Article 6, the credit institution shall not distribute profit or other return on own capital, To redeem the shares or to purchase them in any other way and do not pay the result-based remuneration, unless the Financial Supervision for a specific reason is exempted from the prohibition.
Notwithstanding paragraph 1 of Article 13 of Chapter 13 of the Shareholders Act, the right to a dividend of a shareholder of a financial institution forming part of a credit institution's consolidation group shall apply.
Where a credit institution is a subsidiary of a financial and insurance group within the meaning of the Law on the supervision of financial and insurance groups, or a subsidiary of the parent undertaking of such a group, the amount of own funds of the group falls below that law The minimum amount laid down in Article 19, the credit institution and the company belonging to the consolidation group shall be subject to paragraphs 1 and 2 of this Article. Before taking a decision as referred to in paragraph 1, financial supervision shall request an opinion from the other key supervisory authorities within the meaning of that law.
As regards the limits on the use of resources, the requirements laid down in Article 3 (3) of Chapter 10 are set out in Article 10 of that Chapter.
In addition to what is provided for in the EU Solvency Regulation, financial supervision shall, if the liquidity of a credit institution cannot otherwise be adequately secured, provide the credit institution with the necessary qualitative and quantitative Requirements if, on the basis of the assessment referred to in Article 2, the Financial Supervisory Authority considers that a credit institution's liquidity management has deficiencies that jeopardise the ability of the credit institution to meet its commitments.
This requirement may be imposed for a maximum period of three years.
In addition to the provisions of paragraph 1, the supervision of a credit institution subject to the conditions laid down in paragraph 1 may be imposed by the financial supervision on the basis of its consolidated financial position on the basis of its consolidated financial position.
In applying this Article, financial supervision shall take into account the credit institution's:
(1) qualitative adequacy of the internal liquidity management process;
(2) general adequacy of management, control and risk management systems;
(3) the potential risks to the stability of the entire financial system.
In addition, if the adequacy of the credit institution's own funds or liquidity in relation to the overall risk cannot be ascertained by any other appropriate means, the financial supervision may, in addition to the provisions of Articles 6 to 9 and the Law on Financial Supervision, , taking into account the elements provided for in paragraph 5:
(1) limit the aggregated amount of the remuneration of the credit institution and its undertaking falling within its consolidation group, the remuneration of the company's financial performance and the remuneration of the remuneration of the contract; The proceeds of the company's financial year, which is provided for in this paragraph, shall not apply to salaries, fees and pensions which are to be paid on the basis of a binding agreement in force upon entry into force of this Act;
(2) require a credit institution to provide, on a regular basis, the information referred to in the EU Capital Requirements Regulation and in this law on a broader and more frequent basis than the financial position of the credit institution, as referred to in this Regulation or in this Act; The legislative acts or provisions adopted;
(3) impose qualitative requirements on the credit institution's liquidity management as well as quantitative requirements for the liquidity of the credit institution on the basis of the information that the credit institution is required under the EU Solvency Regulation or otherwise required to: Report regularly to the Financial Supervisory Board;
(4) require a credit institution to publish, on a regular basis, information other than those referred to in the EU Capital Requirements Regulation for its financial position, or to publish them more frequently than required by that Regulation;
(5) order the credit institution to provide an assessment within the time limits of the reasons for which the credit institution does not fulfil, or is likely to fulfil, the requirements for its operations within the next 12 months; The measures provided for in the recovery plan are not sufficient to meet the requirements in a reasonable time to meet the requirements of the Financial Supervisory Authority, Financial supervision may oblige the credit institution to comply with the requirements of a separate plan. Within the time limit set by the plan;
(6) order the credit institution to convene a meeting of the general meeting or the managing body responsible in the credit institution responsible for managing one or more of the relevant financial supervision issues or, if the credit institution is not In the period laid down by the supervision of the financial supervision, the necessary measures to convene a meeting shall be convened to convene a meeting to discuss one or more of the provisions of the financial supervision in accordance with the law and the credit institution 's The statutes or statutes provide for an extraordinary meeting The convening;
(7) order the credit institution to make a plan for the restructuring of its debts in a manner determined by the financial supervision;
(8) order the credit institution to change its strategy or its legal or administrative structure in the manner prescribed by the financial supervision;
(9) set up an agent within the meaning of Article 29 of the Law on Financial Supervision;
(10) order the credit institution to take other measures under the recovery plan;
(11) order the credit institution to take the necessary measures in accordance with Chapter 5 for the credit institution's assets and liabilities.
As regards the financial position of the credit institution and the reporting and disclosure requirements of the credit institution, this Article shall also apply to the consolidated financial position of the credit institution and the Of the European Parliament and of the Council of the European Union.
Financial supervision shall set a time limit for the credit institution within which the credit institution shall conduct the measures imposed by the financial supervision under this Section.
Where financial supervision has restricted the management of the management of the credit institution pursuant to Article 29 of the Law on Financial Supervision, financial supervision may, subject to the conditions laid down in Article 5a, subject to a maximum of one year or more of one or more The authority referred to in Article 29 of the Law on Financial Control, if necessary to safeguard the activities of the credit institution, shall exercise the powers vested in the management. The client must act in accordance with the financial supervision instructions.
Financial supervision shall specify the extent to which the Ombudsman uses the powers of the credit institution's management, and shall disclose the name of the agent and the competent authority in the credit institution, and shall indicate the identity of the agent to be registered; And in accordance with the provisions governing the registration of personal data, which shall be exercised by the competent authority.
Financial supervision may at any time terminate the mandate of the Ombudsman.
Where financial supervision is equivalent to the consolidated supervision of a credit institution whose consolidation group consists of one or more foreign EEA credit institutions, the financial supervision shall be carried out before the supervisory activity referred to in Articles 6, 8 to 10 or 10a. Consult the authority responsible for the supervision of a credit institution in another Member State and inform eba.
Where financial supervision is responsible for the supervision of a credit institution which is a subsidiary of a holding entity or credit institution in another EEA State, the financial supervision shall consult the supervisory activity referred to in paragraph 1 above: The foreign EEA Surveillance Authority responsible for supervision on a consolidated basis.
Financial supervision shall, upon receipt of a notification from the other EEA Surveillance Authority, by a Finnish credit institution equivalent to that referred to in paragraph 1, be subject to the supervision of a credit institution in another EEA State. The impact of the supervisory measure on other subsidiaries of a credit institution and inform the EEA supervisory authority responsible for the supervision of such subsidiaries at the latest three days after receipt of the notification.
Where the financial supervision applies Articles 6 or 9 to one or more credit institutions, the financial supervision without the assessment referred to in Article 2 may take the same measures as those referred to in Articles 6, 9 and 10 against other credit institutions which: Business and risks correspond to the business and risks of the former credit institutions.
Financial supervision shall:
(1) make public the general principles governing the assessment referred to in Article 2;
(2) keep available to the public information on the provisions of Chapter 10 and of this Chapter and on the acts and provisions adopted thereunder and on the application of the regulatory and application options in accordance with European Union law in Finland;
(3) keep statistical information available to the public on the application of Chapter 10 and of this Chapter and of the acts and regulations adopted thereunder.
Where the supervision of the financial supervision of a credit institution is responsible for the consolidated supervision of a credit institution with one or more foreign EEA credit institutions, the financial supervision shall work together with the home country of such a foreign EEA With the Authority to reach an agreement on the application of Articles 2 and 3 to the supervision of the credit institution's consolidated solvency. Financial supervision shall request an opinion from the European Banking Authority if any of the authorities referred to in this paragraph request it.
If an agreement on the application of Article 2 or 3 has not been reached within four months of the financial supervision of the assessment referred to in Article 2 (1) and communicated to the authorities referred to in paragraph 4 of this Article, Financial supervision alone may decide on the application of Articles 2 and 3 to the management of the credit institution's consolidated solvency. The financial supervision shall issue the assessment referred to in Article 2 and the decision to establish the control programme referred to in Article 3 without delay to the authorities referred to in paragraph 3. However, where the financial supervision or any other competent authority referred to in that paragraph has, before the expiry of the four-month period provided for in this paragraph, referred the matter to the European Banking Authority As provided for in Article 19 of the European Banking Supervision Regulation, the financial supervision shall await and act on the solution of the European Banking Authority.
Where the foreign EEA Surveillance Authority is responsible for supervision on a consolidated basis of a credit institution whose consolidation group includes a Finnish credit institution, the financial supervision shall precede the assessment referred to in Article 2 or the decision referred to in Article 3 To consult the abovementioned foreign EEA Surveillance Authority. However, if financial supervision or any other competent authority responsible for the supervision of a company belonging to the consolidating group has referred the matter to the European Banking Authority, as referred to in Article 19 of the European Banking Supervision Regulation , Financial supervision shall await and act on the solution of the European Banking Authority.
The assessment or decision referred to in paragraphs 1 and 3 shall be reviewed annually in accordance with the provisions of this Article, or, in particular, more frequently, if the foreign EEA Surveillance Authority referred to in this paragraph is referred to in this Article. Ask.
Where the European Banking Authority has been asked for an opinion in the case referred to in paragraph 1 or in the application of paragraph 3, the financial supervision shall take into account the opinion in its decision and, where the decision deviates significantly from the opinion, justify: Deviation.
Where the supervision of the financial supervision of a credit institution is responsible for the consolidated supervision of a credit institution with one or more foreign EEA credit institutions, the financial supervision shall work together with the home country of such a foreign EEA With the Authority to reach agreement on the application of Article 5a to the parent undertaking of the credit institution. Financial supervision shall request an opinion from the European Banking Authority if any of the authorities referred to in this paragraph request it.
If the agreement on the application of Article 5a has not been reached within five days of the notification of the financial supervision to the authorities referred to in Article 10b (1), the financial supervision may decide on the application of Article 5a The parent undertaking of the consolidating group. Financial supervision shall be notified without delay to the authorities referred to in this paragraph. If, before the expiry of that period, the financial supervision or any other competent authority referred to in this paragraph has referred the matter to the European Banking Authority in accordance with Article 19 of the European Banking Supervision , the financial supervision shall defer its decision, await the decision of the European Banking Authority and make its own decision in accordance with the decision of the European Banking Authority.
Where a foreign EEA Surveillance Authority is responsible for supervision on a consolidated basis of a credit institution whose consolidation group includes a Finnish credit institution, the financial supervision shall be subject to the decision on the credit institution referred to in paragraph 1 To consult the abovementioned foreign EEA Surveillance Authority. Where, in accordance with Article 19 of the European Banking Supervision Regulation, financial supervision or any other competent authority responsible for the supervision of a company belonging to the consolidating group has referred the matter to the European Banking Authority, Financial supervision shall defer its decision, wait for the decision of the European Banking Authority and make its own decision in accordance with the decision of the European Banking Authority.
The control measures referred to in Article 5 (a) shall apply as provided for in Article 7 of Chapter 12 of the Resolution Act on the impact of crisis resolution measures on the contractual terms referred to therein.
If the financial supervision corresponds to the consolidated supervision of a credit institution whose consolidation group consists of one or more of the entities regulated in another EEA State, the financial supervision shall, without delay, notify the European The Authority, as referred to in Article 18 of the Banking Supervision Regulation and referred to in Article 71 (1) (3) and (11) of the Law on Banking Supervision, Information necessary for the performance of the tasks of the authorities.
For the purposes of paragraph 1, a regulated entity shall mean an undertaking authorised in another EEA State which is responsible for the credit institution referred to in this Act, investment firm within the meaning of the investment facility, , an insurance company within the meaning of the law on alternative fund managers, an insurance company within the meaning of the insurance company law or a payment institution within the meaning of the law on payment institutions.
Financial supervision may conclude with one or more other EEA Surveillance Authority that the supervisory authority responsible for supervision on a consolidated basis is the second EEA State Supervisory Authority and that supervision on a consolidated basis The law of that State shall apply. The contract referred to in this paragraph may be concluded if the parent undertaking of the consolidating group is not a Finnish credit institution.
Financial supervision may conclude with one or more EEA Surveillance Authority that financial supervision acts as a supervisory authority responsible for supervision on a consolidated basis as referred to in Article 16 of Chapter 1. In the consolidation group and the application of the Finnish law to supervision on a consolidated basis. The contract referred to in this paragraph may be concluded if at least one Finnish credit institution is included in the consolidating group.
The agreement referred to in paragraphs 1 and 2 may be concluded if it is subject to the weighty reason required for the effective organisation of supervision on a consolidated basis. The financial supervision shall draw up a written copy of the contract for supervision by the authorities responsible for the supervision of credit institutions and investment firms within the consolidating group referred to in paragraphs 1 or 2 Signature. The financial supervision shall be communicated to the parent undertaking of such a consolidation group, the European Commission and the European Banking Authority.
Financial supervision shall provide for more detailed provisions necessary for the implementation of the credit institution Directive and the EU Solvency Regulation for the financial conditions and for the supervision of the credit institutions referred to in Chapters 9 and 10 Regular reporting obligations.
The financial statements of the credit institution shall be prepared and published in accordance with the provisions of this Chapter and the provisions of the Regulation and the Financial Supervisory Authority of the Ministry of Finance. In addition, credit institutions shall be subject to accounting law and to the provisions adopted pursuant to it in so far as this law or the Finance Ministry regulations adopted pursuant to it or elsewhere in the law do not provide otherwise. In addition, the commercial bank and the other corporate credit institution shall also be subject to the provisions of the Companies Act and the Cooperative Bank and the other cooperative credit institution in respect of the financial statements of the cooperative law, in so far as it is not otherwise Provide. Article 11 of Chapter 8 of the Sharehold Companies Act and Article 11 of Chapter 8 of the Cooperative Act do not apply to the credit institution. As provided for in this Chapter, the financial statements shall apply to a total of the documents covered by and annexed to the financial statements, unless otherwise specified below.
Article 4 (1) of Chapter 1 of the Accounting Act, Article 1 (3) of Chapter 3, the limitation of the obligation to draw up the financial statement and Article 2 (4) of the activity report, Article 2 (2) of the Financial Regulation, and 6 § 1 of the accounting period, Article 1 of Chapter 4 on the definition of turnover, Article 3 on the definition of permanent and variable assets, and Article 4 on the definition of financial assets and financial assets, financial assets and liabilities in Chapter 5; On the statement of the balance sheet, Article 2a on the valuation of financial instruments, and The entry into the accounts of the entry into the accounts of Article 4 as output from the manufacturing stage and Section 6 for the acquisition of foreign exchange assets shall not apply to the preparation of the financial statements of the credit institution. Nor does it apply to Article 1 (1), (1), (3) and (4), Article 5 (3) (2) and Article 6 of Chapter 8 of the Companies Act, Article 5 (3), and Article 6, or to the equity capital of the Cooperative Act, Article 1 (1), Articles 3 and 4, 5 (3) (3) and 6 of Chapter 8 on the Group.
Article 1 (3) of Chapter 6 of Chapter 6 of the Accounting Law on the obligation to draw up a small accounting obligation, Article 2 (2) of the group's financial statement and paragraph 3 of the group activity report, Article 7 (6) of a small group Articles 9 (1) and 9 (1) of Chapter 8 of the Cooperative Act do not apply to the production of consolidated financial statements of the credit institution. Article 4 (2) and (3) of Chapter 6 of the Accounting Act shall apply to consolidated financial statements to the extent that the calculation principles and points referred to therein are applied to the credit institution under paragraph 2.
Articles 9 and 11 of Chapter 3 of the Accounting Act, Chapter 8, Section 10 of the Companies Act and Section 10 of Chapter 8 of the Cooperative Act do not apply to the registration or other disclosure of the accounts of a credit institution or a holding entity.
More detailed provisions on the identification of financial instruments and changes in the value of real estate assets and of their value in the accounts, balance sheet and profit and loss account, financial statement, balance sheet, profit and loss account and financial statement On the information to be provided in the notes and in the activity report, on the formulae of the consolidated balance sheet and the consolidated balance sheet, and on the financial statement of the group, the consolidated balance sheet, the consolidated balance sheet and the financial statement of the group, Of the data and of the balance sheet specifications and The specifications are provided by a decree of the Ministry of Finance.
Financial supervision may provide more detailed provisions for the preparation of the accounts of the credit institution. Those provisions may limit the recording of interest and rental income to the output of the accounting year, which are based on receivables or financial leases where the interest, abbreviations or rents due at the time of the balance sheet date Without paying any longer than the time limit referred to in the financial supervision order, or due to the default of the borrower, it is likely to remain unpaid. Before issuing an order, financial supervision shall request the opinion of the Ministry of Finance and the Accounting Board.
Where the advice given by the Financial Supervisory Authority or an opinion on the application of the provisions of this Chapter, of the Companies Act, of the Cooperative Act or of the Accounting Act, and of the regulations adopted pursuant thereto, to credit institutions is the accounting law or For the purposes of the accounting regulation or of the general application of the Companies Act or of the cooperative law, the financial supervision shall be subject to the opinion of the accounting board referred to in Section 2 of Chapter 8 of the Accounting Act, before issuing the instruction or opinion.
The financial supervision may, on application by the credit institution, for specific reasons, allow for a derogation from the accounting period, for the maintenance of the accounting material abroad, and for a domestic subsidiary of the consolidated financial statements From the financial year. The granting of an exemption is conditional on non-compliance with European Union law applicable to credit institutions.
The term is a calendar year. In the event of a business start or termination, the financial year shall be shorter or longer than the calendar year, but not more than 18 months.
The financial statements and the annual report shall be drawn up within two months of the end of the financial year.
The financial statements shall be accompanied by an activity report providing information on important developments concerning the development of the reporting entity. The report shall include a solvency calculation providing information on the amount of own funds referred to in Articles 1 to 3 of Chapter 10 of the reporting entity and the minimum amount of own funds.
Receivables and derivative contracts as well as shares, other equity and other financial instruments owned by the reporting entity ( Financial assets ) Shall be recorded at the fair value of the balance sheet date, subject to paragraphs 2 to 5. In addition, subject to paragraph 4, liabilities that are part of the trading portfolio or which are derivative contracts shall be valued at the fair value of the annual accounts.
The following items of financial assets shall be entered in the financial statements by way of derogation from paragraph 1, or if the value of the item is found to be lower than the cost of the impairment on balance sheet date, with this impairment loss To the acquisition:
1) credit and similar financial agreements not held for trading purposes;
(2) the certificates of receivables held until maturity;
(3) the shares and other equity of the subsidiaries and participating undertakings as well as financial assets issued under the terms of the reporting obligation;
(4) Financial supervision other financial assets which, in accordance with the international accounting standards referred to in Article 1 of Chapter 7a of the Accounting Act, are not valued at fair value.
Liabilities other than those referred to in paragraph 1 shall be entered in the accounts at the nominal value.
By way of derogation from paragraphs 1 to 3, the credit institution may also subscribe to the financial statements at the fair value of the balance sheet at the fair value of the balance sheet date, including those covered by Article 2 (2) (1) and (2) and other than those referred to in paragraph 1. Items if the decision on the permanent fair value of these items is made for the first time in the accounts for the first time. A condition for marking the fair value shall be that:
(1) such a item relates to one or more connected derivative contracts, which should otherwise be valued separately at fair value;
(2) it removes any inconsistency in the valuation or registration; or
(3) it is based on calculations based on a fair value based on the risk management of financial assets and liabilities or both of them.
Subject to Article 8, the accounting value of the financial instruments referred to in paragraph 1 and the book value of the previous financial statements, or, where the fair value is valued, the accounting value of the financial instruments referred to in paragraph 1, or, if the fair value, of the financial instrument Have been acquired during the financial year, the difference between the acquisition cost.
Where the amount of the claim or debt has been paid or received, or where less or less than its face value, the receivable or the debt is entered for the purposes of paragraphs 3 and 4, instead of the nominal value, the amount being paid or the amount of the debt incurred in the event of its birth Or obtained. The amount of such an amount receivable in respect of the difference between the nominal value and the cost of the acquisition for the output or expense of the accounting year shall be amorated and marked as an addition or reduction in the acquisition cost. Conversely, the amount of the nominal amount of the debt and the amount of the capital received in the form of the difference between the amount of capital received during the accounting year or as a deduction of the amount of the debt is amorated and recorded as an addition or reduction in the book value of the liability.
The change in the value of the fair value shall be entered into the fair value fund of own capital if:
(1) it is the recording of a financial instrument used in the hedging procedure to allow for the calculation of all or part of the value change in the profit and loss account;
(2) such a change is caused by a change in the exchange rate of a foreign currency of the credit institution's net investment in a foreign entity; or
3) financial instruments which are valued by fair value that are not considered for trading purposes, except financial derivative instruments.
The calculation of the deferred tax liability or claim included in the change in fair value shall be shown in the balance sheet with special caution.
A fair value fund shall be adjusted when the financial instrument is due or allotted.
Real estate assets, other than those in use in the balance sheet, may be entered in the financial statements at the fair value of the balance sheet date.
A credit institution which applies paragraph 1 shall, in accordance with the provisions of paragraph 1, be subject to all the assets referred to in the article.
The difference between the fair value of the accounts of the assets referred to in paragraph 1 and the difference in the book value of the previous financial statements, or where such assets were acquired during the financial year, shall be recorded as output or expense.
Only the assets referred to in paragraph 1 of Chapter 5 of the Accounting Act may be added to the value referred to in Article 17 of Chapter 5 of the Accounting Act.
The equity capital shall be equity, equity or basic capital, additional capital, additional equity, equity fund, reserve fund, reserve fund, revaluation reserve, revaluation fund, and fair value fund. Other funds, as well as the profit for the financial year and previous financial years, are free equity.
The goods released for use by the lessee by a financial leasing contract shall be entered in consolidated financial statements, in the form of a sale, if the company is the lessor, and in so far as it is purchased, if the group undertaking is: The lessee.
The consolidated financial statements shall include a financial statement of the group, which shall provide a statement of the acquisition and use of the group's assets during the financial year. In addition, the parent company's activity report sets out the activity report and solvency data for the group.
The group's subsidiary or the holding company with a balance-sheet total of less than 1 % of the balance sheet total of the last balance sheet of the parent undertaking and less than EUR 10 million may be excluded from the consolidated financial statements. If the balance sheet total of such a group's daughter or associates combined with the balance sheet total of other subsidiaries and subsidiaries of a group is equal to or less than 5 % of the consolidated balance sheet total, it shall: Shall, however, be combined with consolidated financial statements.
Notwithstanding the provisions of Article 3 of the Act on the supervision of financial and insurance groups, if a credit institution or a participating Community group belongs to an insurance company or a foreign insurance institution, the consolidated financial statements may be drawn up. Provided that it is necessary to give a true and fair view of the Group's performance and financial position.
The financial statements and the activity report shall be registered by the credit institution and the holding entity within two months of the adoption of the balance sheet and the profit and loss account. The notification shall be accompanied by a copy of the audit report and a written declaration by the Board member or the Executive Director of the date of validation of the financial statements and the profit and loss account of the credit institution, or The decision of the cooperative, representative, host or mortgage association meeting.
A credit institution shall keep copies of the credit institution referred to in paragraph 1, as well as the last set of documents relating to its parent holding entity or credit institution, at the office of each credit institution where: Two weeks have elapsed since the establishment of the profit and loss account and balance sheet. In addition, the owner shall keep copies of the documents relating to it at the head office of the participating Community. A copy of the documents to be seen shall be given to each applicant within two weeks of the request.
The parent undertaking shall, upon request, provide a copy of the annual accounts and operational report of a subsidiary which has not been included in the consolidated financial statements, unless the annual accounts and the activity report have been declared to be registered under Finnish law In accordance with
The credit institution and the ownership entity shall have the right to receive a copy of the copy of the copy of the copy of the corresponding copy of the fee for the corresponding copy of the fee.
The registry authority within the meaning of paragraph 1 shall be the Patents and Registration Board. The registration authority shall monitor compliance with the reporting obligation referred to in paragraph 1. In the event of non-compliance with the obligation to notify, the registry authority may oblige the latter to sign the financial statements, at the penalty of the fine, in the period prescribed by it. The decision to impose a penalty payment shall not be subject to appeal.
The credit institution of the central community of the central Community of the deposit banks, as referred to in the Act on the Association of Deposit Banks, shall be required to see the aggregated balance sheet of the consortium as laid down in the Act on the Coalition for Deposit Banks.
The deposit bank shall, subject to Article 10 (1) of Chapter 7 of Chapter 7 of Chapter 7 of Chapter 7 of Chapter 7 of Chapter 7 of Chapter 7 of Chapter 7 of Chapter 7 of Chapter 7 of Chapter 7 of Chapter 7 of Chapter 7 of Chapter 7 of the Statute of the European Securities and Markets Authority, prepare a deposit for each financial year over a period of six months. The interim report of the deposit bank shall be subject to paragraphs 2 and 3 and Article 10 (2) and (3) of Chapter 7 of the Securities and Markets Act. Subject to this Article, the interim report of the Deposit Bank subject to Section 10 of Chapter 7 of the Securities and Markets Bank shall also be subject to the provisions of that Act as otherwise provided for in the interim report.
The sub-annual report of the deposit bank shall consist of the annual statement and balance sheet, or, if the deposit bank is the parent undertaking of the group, the consolidated balance sheet and balance sheet and the description of the performance of the bank or group, as well as the assets, liabilities and balance sheet Significant changes in the external commitments and the operating environment during the reporting period, the exceptional circumstances affected by the performance, the events beyond the reporting period and the likelihood of a bank or group Development for the financial year. The information to be provided in the interim report shall be comparable to that of the previous financial reporting period.
The interim review shall be made public within two months of the end of the reporting period. The publication of the interim report shall, as appropriate, comply with Article 11 (2) and (4), in addition to what the other law provides for the publication of the interim report.
The obligation for the central Community of the depositing banks to draw up and publish the interim report of the consortium and the annual review are laid down in the Act on the Coalition for Deposit Banks.
The annual report of the owner-owned entity, which is the parent undertaking of the depository bank, shall be subject to paragraphs 1 to 3. The deposit bank, which the parent undertaking publishes in accordance with this Article in accordance with this Article, shall not be subject to the provisions of this Article, unless otherwise provided for in the law.
Financial supervision may provide more detailed provisions, guidelines and opinions on the preparation of the interim report referred to in this Article and may, for a specific reason, derogate from the provisions of this Article if the derogation does not jeopardise the The position of the investor or depositary. The provisions, guidelines and opinions and the granting of derogations shall apply mutatis mutandis to the provisions of Article 2 (2) to (4). The grant of a derogation shall be mentioned in the interim report.
An audit law shall apply to the credit institution's audit and auditor (17/01/2015) And of the credit institution's statutory auditor and auditor, as well as the statutory auditor of the credit institution and the cooperative institution of the cooperative institution, unless otherwise specified below.
The credit institution's audit and auditor shall be subject to the provisions of Article 7 (1) (8), Chapter 5 and Article 9 (1) (1) of Chapter 7 of the Court of Auditors, as provided for in Article 7 (1) (1) of the Law on Audits and auditors.
Article 7 (1) (5) of the Court of Auditors does not apply to the auditor of the credit institution. However, the auditor shall inform the financial supervision of the credit institution, or any credit or any guarantee, liability, guarantee or guarantee provided by the credit institution to the same group of undertakings. The corresponding benefit.
For the purposes of this Article, the audit and auditor of the credit institution shall also be subject to the audit and auditor of the holding.
L to 1197/2015 Article 13 will enter into force on 1 January 2016. The previous wording reads:
An audit law shall apply to the credit institution's audit and auditor (209/2007) And of the credit institution's statutory auditor and auditor, as well as the statutory auditor of the credit institution and the cooperative institution of the cooperative institution, unless otherwise specified below.
The audit and auditor of the credit institution shall be subject to the provisions of Article 25 (1) (8), Chapter 5 and Article 40 (2) (1) of the Court of Auditors on the audit of the audited entity: The auditor.
The credit institution's auditor is not subject to Article 25 (1) (5) of the Court of Auditors. However, the auditor shall inform the financial supervision of the credit institution, or any credit or any guarantee, liability, guarantee or guarantee provided by the credit institution to the same group of undertakings. The corresponding benefit.
For the purposes of this Article, the audit and auditor of the credit institution shall also be subject to the audit and auditor of the holding.
At least one of the auditors of the credit institution and of the participating Member State shall be a KHT auditor or an audit firm which has to be the head auditor of the KHT auditor.
L to 1197/2015 Article 14 will enter into force on 1 January 2016. The previous wording reads:
At least one of the auditors of the credit institution and of the holding entity shall be a KHT auditor or a kHT auditor within the meaning of Article 2 (2) of the Audit Act.
Article 8 of Chapter 2 of the Court of Auditors, Chapter 7, Section 5 of the Companies Act and Section 7 of Chapter 7 of the Cooperative Act, and Section 7 of Chapter 7 of the Law on Shareholden Companies and Section 7 of Chapter 7 of the Cooperative Act, and 7 To the credit institution of the inspector referred to in Article 8 and Article 16 of Chapter 7 of the Cooperative Act, and its owner, the financial supervision. In the cases referred to above, the statutory auditor and the special inspector shall otherwise be subject to the provisions of the Audit Act, the Companies Act and the Cooperatives Act. In addition, the financial supervision shall provide a statutory auditor with a credit institution and its ownership entity, if the credit institution or the holding entity does not have a qualified auditor as provided for in Article 14 of this Chapter.
The auditor of the credit institution providing investment services shall forward to the financial supervision a statement made by the auditor, on each calendar year, on the compliance of the credit institution with the arrangements for the maintenance of client assets Requirements in accordance with the provisions of Articles 1 to 4 of Chapter 9 of the Investment Services Act and Section 5 of Chapter 9 of that Act.
L to 1197/2015 Article 15 shall enter into force on 1 January 2016. The previous wording reads:
Article 9 of the Court of Auditors, Section 5 of Chapter 7 of the Companies Act and Article 7 of Chapter 7 of the Cooperative Act and Section 7 of Chapter 7 of the Cooperative Act and Chapter 7 of Chapter 7 of the Cooperative Act, Chapter 7, and 8 § and the financial supervision of the inspector referred to in Article 16 of Chapter 7 of the Cooperative Act and its owner. In the cases referred to above, the statutory auditor and the special inspector shall otherwise be subject to the provisions of the Audit Act, the Companies Act and the Cooperatives Act. In addition, the financial supervision shall provide a statutory auditor with a credit institution and its qualifying holding in the event that the credit institution or the holding entity does not have a qualified auditor as provided for in Article 14.
The auditor of the credit institution providing investment services shall forward to the financial supervision a statement made by the auditor, on each calendar year, on the compliance of the credit institution with the arrangements for the maintenance of client assets Requirements in accordance with the provisions of Articles 1 to 4 of Chapter 9 of the Investment Services Act and Section 5 of Chapter 9 of that Act.
In order to ensure a stable functioning of depository banks, the deposit bank may be part of a guarantee fund.
A deposit bank belonging to the guarantee fund may withdraw from the Fund by notifying the Fund to the Board of Directors in writing. The difference shall take effect at the end of the calendar year following the notice of resignation.
Where a bank divorced from a guarantee fund is, in the year of resignation or five, during the preceding calendar year, received from a guarantee fund, it shall, at the request of the guarantee fund, refund the amount of the allowance provided for in the Fund's rules. The guarantee fund.
The rules of the guarantee fund shall state:
(1) the name and address of the fund;
2) the inclusion and withdrawal of the deposit bank's fund;
(3) the bases for the assessment of the subscriptions and contributions and the date of recovery;
(4) the number, age and term of office of the delegation and the quorum and tasks of the delegation;
(5) the number of members, the age of resignation, the term of office and the quorum and tasks of the Board of Directors;
(6) criteria for the use of the annual surplus from the Fund;
(7) the financial year of the Fund;
(8) the number and term of office of auditors;
(9) the manner in which the rules are modified;
(10) the decommissioning of the Fund.
The rules of the guarantee fund and their amendments shall be communicated to the Financial Supervisory Committee, as well as more closely the financial supervision.
The guarantee fund shall be managed by a delegation selected by the deposit banks belonging to it and the Board of Directors chosen by the delegation.
A delegation from the Guarantee Fund may provide that the deposit bank belonging to the Fund shall pay an adequate contribution to the Fund to fulfil its obligations on an annual basis.
The support fee should be based on the risks taken by the deposit bank. The calculation of the reference fee shall be the same for all banks affiliated to the guarantee fund. However, the criteria for the calculation of the contributions of Deposit Banks in the different Community form may be different. Deposit banks in different Community forms shall not be unduly placed in an unequal position when calculating the basis of calculation. The contributions to the Guarantee Fund each year may not exceed 0.5 % of the sum of the last balance sheet of the last balance sheet of the Fund's banks.
The Government of the Guarantee Fund may exempt the deposit bank from payment of the support fee.
The deposit bank belonging to the Fund shall not be entitled to claim its contribution from the Guarantee Fund to itself and shall not disclose it to the other. This part shall not be read as a bank's assets.
The Guarantee Fund may, under the terms of the Fund's decision, grant grant loans or grants to a deposit bank belonging to the Fund if it has encountered financial difficulties that the granting of a grant loan or grant is Necessary for the purpose of operating. The Guarantee Fund may also, by way of decisions, grant guarantees to loans taken by a Deposit Guarantee Fund which is part of a guarantee fund or to subscribe to shares or units issued by a bank, the capital loan issued by it or any other bank's own funds. Commitments.
In the award of the aid referred to in paragraph 1, the Guarantee Fund shall not discriminate between deposit banks within the Fund without justification. Each aid decision must be based on careful consideration of the financial situation of the bank to be supported.
The Guarantee Fund may decide to dispose of the Fund's assets to the State Guarantee Fund, for use in support measures under Article 1 of the Finnish Deposit Bank Act.
If the bank referred to in paragraph 1 is absorbed by another bank, in the form of a grant, capital loan or grant may also be granted to the receiving bank.
The delegation of the Guarantee Fund shall, on a proposal from the Board of Directors, have the right, in whole or in part, to waive the recovery of the grant loan or principal loan, if recovery is disproportionate to the grant loan or the recapitalisation bank. The delegation of the Guarantee Fund and the Board of Directors shall take a decision on the recovery of the grant loan or subordinated loan, as provided for in Article 7 (2).
In the event of liquidation or bankruptcy of a deposit guarantee fund, the repayment of the grant loan or capital loan shall only be used by the bank's assets remaining after the Bank's other commitments have been fulfilled.
The guarantee fund shall not borrow for its activities unless the Ministry of Finance, for a specific reason, admits this authorisation.
The assets of the Guarantee Fund shall be invested in a safe and secure manner.
Chapter 14 is repealed by L 19.12.2014/1199 .
In addition to what is provided for in this law, the credit institution must comply with a good bank guarantee.
The credit institution shall, in its marketing, provide the customer with the information that may be marketed to the customer, which may be relevant to the customer's performance of the product.
A credit institution shall not, in its marketing, give false or misleading information or use a procedure which is inappropriate or contrary to a good practice for the client. In addition, a consumer-friendly or anti-competitive procedure is provided for in the consumer protection law (38/1978) in Chapter 2 .
Marketing that does not contain information necessary for the financial security of the customer must always be considered to be unfair.
A credit institution shall not use a contractual condition which does not fall within the activity of a credit institution or which is subject to its content, the status of the parties or the circumstances of the parties, shall be considered reasonable for the client. A reasonable contractual condition shall be kept whenever the acquisition or use of commodities outside the activity of a credit institution as a whole is subject to an undue influence on the customer, the duration of the contract or any other The terms of the contract, or where the client's right to enter into contractual relations with the other trader is restricted.
The credit institution shall submit to financial supervision the terms and conditions of the credit institution's standard contracts.
The bank of the depository shall have a word or a "bank" in the name of the depository, and shall be reflected in its Community form.
In its marketing, the depository bank shall not have access to information on the deposit guarantee fund or any other equivalent Deposit Guarantee Fund or guarantee fund protection scheme in a manner that would jeopardise the stability of financial markets or depositors' confidence.
In its marketing, the depository bank shall only use the information relating to the deposit protection fund, or other equivalent deposit protection, or its own guarantee fund protection.
The deposit bank shall not instruct the customer to make a deposit in another deposit bank. Moreover, such intermediation shall not be organised in conjunction with another Deposit Bank or through a central organisation or other similar entity, with the assistance or otherwise.
The deposit bank may refuse to open a normal deposit account and to grant an account or a payment service mandate to a natural person legally resident in the EEA State only if: There is a strong argument for refusal. The criterion should be related to the client or his previous behaviour, or to the fact that there is apparently no real need for a customer relationship. The grounds for refusal shall be communicated to the customer.
The provisions of this Article shall not apply if Article 18 or the law on the prevention and detection of money laundering and terrorist financing (103/2008) Because of something else.
When funds are deposited in a bank between the bank and the accounting officer, a deposit agreement must be concluded. The identity of the accounting officer shall always be established and the contract shall be provided with sufficient information on the accounting period, the owner and the right to use.
Where a deposit is provided with separate proof, it shall be placed on a designated person and may be transferred only to a designated person.
The specific condition of the contract referred to in the first paragraph relating to the deposit facility shall also be entered in the certificate. The condition, with the exception of the account holder's orders for the use of an account, may be amended or withdrawn only with the agreement of the bank.
A quorum of 15 years may itself make a deposit with the depository of the funds for which the guardian of the law (442/1999) (1), or otherwise, have the right to impose, save and raise funds and, in any event, order a deposit. However, the guardian may, with the agreement of the custody authority, take the funds deposited in the event of a disability.
If there are funds deposited in the deposit bank for a period of 15 years, provided that only he/she has the right to withdraw funds, the funds deposited shall be determined by a disabled person and his trustee. However, it may be waived by the Court of Justice.
Ten years after the end of the calendar year during which the account of the funds deposited in the deposit bank has been used, the deposit bank shall be obliged to pay interest on the funds deposited, subject to the accounting conditions.
The depository bank shall not be eligible for any assets held in the account of a private person, which are not legally enforceable under the law. Before the receipt of the assets, the Bank shall verify the forecluse of the assets. The recording requirement shall be notified to the account holder. The anti-discrimination clause is invalid.
However, if it is not possible to ascertain whether the assets are exhausted without undue effort, the bank may require an offsetting if it notifies the account holder in writing, in writing, of the right to sign The restriction and the cancellation of the receipt provided for in this paragraph. The receipt shall be cancelled if the account holder, within 14 days of the acknowledgement of receipt, has received a report stating that the assets are not eligible. In the absence of any other explanation from the date of receipt of the claim, it shall be deemed to have entered the account of the account holder on the seventh day of dispatch of the notice of request. If the account holder is not provided with the information provided for in this paragraph, the signature shall be void.
Paragraph 1 shall not apply to charges based on the explicit authorisation of the account holder. The account holder of such a mandate may be withdrawn at any time. Any other agreement which reduces the rights of the account holder under this Article shall be null and void.
Credit institution shall grant: Article 7 of Chapter 7 of the Consumer Protection Act The amount of the mortgage credit referred to in paragraph 4 up to a maximum amount in accordance with this Article. On the credit relationship Refers to the amount of credit granted under this Article in relation to the fair value of the underlying assets at the time of issue of the credit.
The guarantee referred to in paragraph 1 shall not be taken into account for the purposes of the personal guarantee.
The amount of credit referred to in paragraph 1 shall not exceed 90 % of the fair value of the collateral when granting credit.
By way of derogation from paragraph 3, the amount of credit taken for the acquisition of the primary residence shall not exceed 95 % of the fair value of the collateral when granting credit.
In order to limit the exceptional increase in risks to financial stability, financial supervision may decide to reduce the maximum credit limits laid down in paragraphs 3 and 4 by up to 10 percentage points. Financial supervision may also limit the taking into account of collateral other than the collateral collateral when it is necessary to manage the risks referred to in this paragraph. Financial supervision shall be a quarterly decision amending or extending the decision taken pursuant to this paragraph. Financial supervision on its website shall disclose the principles it complies with in assessing the conditions of application of this paragraph. The preparation of the decision referred to in this paragraph shall be subject to the provisions of Section 10 of Chapter 10.
The decision to reduce the maximum amount of credit referred to in this Article shall enter into force three months after the date of the decision or the subsequent date of the financial supervision.
Financial supervision may provide for a more precise definition of the collateral and the fair value of the collateral referred to in this paragraph and of the specific situations in which the credit institution may deviate from the restrictions under paragraphs 3 and 4.
Article 11 applies from 1 July 2016.
A credit institution shall not, without the consent of the collateral owner, continue to deposit the collateral provided to the credit institution.
Decisions concerning credit to a natural person, entity or Foundation close to the credit institution and decisions relating to other financing, as well as decisions on investment in a related company, or The general conditions applicable to such lending and investment shall be approved by the credit institution's Board of Directors. The conditions of Article 15 (3) of Chapter 5 shall apply to the conditions of the transactions other than normal human resources referred to in this Article.
The credit institution's close circle includes:
(1) the person in which, under the ownership, option or convertible loan, there is or may not be less than 20 % of the credit institution's shares, shares or voting rights or equivalent ownership or voting rights to the credit institution's group; In the Community or in the Community which exercises control, unless the value of the company which is the subject of the ownership is limited to the group as a whole;
(2) a member of the board of the credit institution, a member of the Board of Directors and a substitute member, the managing director and the Deputy Managing Director, the auditor, the deputy auditor and the staff member of the audit firm, with the main responsibility for the audit, and the The person in the undertaking referred to in paragraph 1;
(3) the minor child of the person referred to in paragraph 2 and the spouse or person in the marriage relationship;
(4) the entity and the Foundation where the person referred to in this paragraph alone or in one with another is controlled by Article 5 of Chapter 1 of the Accounting Act.
The credit institution shall keep a list of the natural persons, entities and foundations referred to in paragraph 2. The information contained in the list and the changes therein, as well as the decisions or conditions referred to in paragraph 1 relating to loans or investments made to the natural persons, entities and foundations listed in the list shall be: Inform the Financial Supervisory Board.
As regards the provision of credit, the provisions of this Article shall apply mutatis mutandis to the provision of the guarantee or the payment of any other security provided by the other.
Financial supervision may provide more detailed provisions for the recognition of the decisions referred to in paragraph 1 and the maintenance of the list referred to in paragraph 3 and the reporting of the information referred to in that paragraph to financial supervision. Financial supervision may also provide more detailed provisions as to when the company referred to in paragraph 2 (1) is considered to be negligible for the group as a whole.
As a member of an undertaking, an association of credit institutions or a credit institution or another undertaking acting on behalf of a credit institution or a credit institution or a credit institution, or as a substitute member, In the performance of their duties or in the performance of their duties, the credit institution or the group within the meaning of the Law on the supervision of the financial and insurance groups has been informed of: The client or any other person connected with its activities The existence of an economic or private situation, or a business or professional secret, shall be obliged to keep it a secret unless the person who is covered by the obligation of professional secrecy has consented to its disclosure. Information held in secret shall not be disclosed to the general meeting, to the meeting of the hosts, to the meeting of the cooperative or to the Assembly of the Cooperatives, to the Assembly of the Hypotheists or to the shareholder or member of the meeting.
A credit institution and an undertaking belonging to the same consolidation group shall have the obligation to provide the information referred to in paragraph 1 to the prosecutor and pre-trial authority for the purpose of the investigation of the offence and to any other authority which is legally required to: The right to information.
A credit institution shall have the right to disclose the information referred to in paragraph 1 to the stock exchange referred to in the law on financial instruments, if the information is necessary to safeguard its supervisory function. The credit institution shall have the same right to provide information to the market operator referred to in Article 1 of Chapter 3 of the Law on trading in another EEA State.
Notwithstanding paragraph 1, a credit institution shall not have the right to engage in any credit activity normally covered by its business.
Article 14 of Chapter 7 of the Cooperative Act does not apply to a credit institution or a company belonging to the same consolidation group.
A credit institution and an undertaking belonging to the same consolidation group shall have the right to provide the information referred to in Article 14 to the same group, the consolidation group or the law on the supervision of financial and insurance groups. For the financial and insurance group, the customer service and other customer relationship management, marketing and risk management of the group, consolidation team or financial and insurance group, if the recipient of the information relates to: The obligation of professional secrecy laid down in this law or equivalent. In respect of the transmission of information, the above paragraph does not apply to personal data law (523/1999) Article 11 , nor any information based on the registration of payment data between a client and a non-conglomerate.
In addition to the provisions of paragraph 1, a credit institution and a credit institution, a company belonging to the same consolidation group, may give up marketing, customer service and other customer relations in its customer registry Necessary information for a Community which is part of the same economic association with the credit institution if the recipient of the information is covered by the obligation of professional secrecy provided for by this law or equivalent. As regards the disclosure of information, the above paragraph does not apply to the disclosure of sensitive information as referred to in Article 11 of the Personal Data Act.
Notwithstanding this Article, a credit institution shall have the right to release to the pool of credit institutions referred to in Article 14 (1) the information necessary for the operation of the consortium to which the credit institution is affiliated. The provisions of paragraph 2 and this paragraph for the association of credit institutions shall also apply to the central banks of savings banks and cooperative banks.
Notwithstanding Article 14, a credit institution and an undertaking belonging to the same consolidation group shall, notwithstanding Article 14, have the right to release to the controller of the credit institution for the purpose of subscription to the credit data register the The information necessary for the identification of credit agreements and guarantees, as well as information on the outstanding amount outstanding.
A document containing the information referred to in Article 14 may be made available to scientific research if at least 60 years after the date of manufacture of the document and the addressee gives a written undertaking that he does not use , to the detriment of the person concerned, to the detriment of or to the detriment of the person concerned or to the other interests of which the obligation of professional secrecy has been laid down.
A credit institution and a company belonging to the consolidating group shall be familiar with their clients. In addition, the credit institution and its consolidation group shall identify the client's actual beneficiary and the person acting on behalf of the client and, where appropriate, verify his identity. When completing the obligation laid down in this paragraph, the systems referred to in paragraph 2 may be used.
A credit institution and a company belonging to its consolidation group shall have adequate risk management systems to assess the risks arising from their clients.
In addition, the customer's knowledge is in force as laid down in the law on the prevention and detection of money laundering and terrorist financing.
Financial supervision may provide more detailed provisions on the procedures to be followed in the knowledge of the customer referred to in paragraph 1 and the risk management referred to in paragraph 2.
The provisions of this Chapter for a credit institution shall apply mutatis mutandis to a company belonging to the same consolidation group.
A foreign EEA credit institution may establish a branch in Finland or otherwise provide services within the meaning of Section 1 of Chapter 5 in Finland, which are included in its licence.
A foreign EEA credit institution may establish a branch in Finland from the establishment of a branch of the national supervisory authority for the establishment of a branch of the Financial Supervisory Authority.
The notification shall contain sufficient information on the seat, business and administration of the intended branch and on the persons responsible, including one of whom shall be designated as Head of the branch.
The notification shall also include the services referred to in Article 1 of this Chapter, the amount of own funds, the minimum own funds and the guarantee system which protects the assets of the depositors of the branch, and its coverage.
The non-resident EEA credit institution shall inform the financial supervision of any changes to the information referred to in paragraph 2 in writing at least one month before they are implemented. Financial supervision may change the provisions and conditions set out in the notification referred to in Article 59 of the Financial Control Act as a result of the intended changes.
The branch may become operational when a foreign EEA credit institution has received the notification referred to in Article 59 of the Law on Financial Supervision or, if the financial supervision has not filed a notification within the time limit laid down in that Article, The period laid down for the procedure is closed.
The right of financial supervision to prohibit in whole or in part the extension of the branch is provided for in Article 61 of the Financial Supervisory Law.
A third-country credit institution may provide services within the meaning of Article 1 of Chapter 5 of a branch established in Finland which are included in the concession granted in accordance with Article 2.
In addition, a third country credit institution may have a representation in Finland.
A third-country credit institution intending to operate a credit institution in Finland shall apply to the Finnish Financial Supervisory Authority to apply to the Finnish branch. An application shall be submitted for an opinion from the Bank of Finland and the Deposit Guarantee Fund if the credit institution receives deposits and the investor compensation fund if the credit institution provides investment services.
The application shall be accompanied by the necessary explanations to the credit institution:
(1) ownership;
(2) management skills and reliability;
(3) management and internal control;
(4) risk management;
(5) solvency and liquidity and their management;
6) domestic legislation and financial supervision.
The application shall also be accompanied by the necessary studies on the organisation of the administration and activities of the branch, the identification of the clients and the procedures followed for the prevention of money laundering and terrorism, the professionalisation of the branch's management, and And the use of the branch in Finland.
The information on the contact details to be provided in the application and the details of the explanations to be attached to the application may be provided by a decree of the Ministry of Finance.
Financial supervision shall be authorised if:
(1) the activities of the credit institution are not substantially different from the activities permitted by the Finnish credit institution;
(2) the legislation applicable to the credit institution of a third country in its home country is consistent with internationally accepted recommendations on financial supervision and the prevention of criminal exploitation of the financial system;
(2a) the branch shall receive deposits from the public on the basis of its domestic law and authorisation, and the deposit protection of a branch in accordance with the legislation of the credit institution's domestic law does not materially deviate from the The deposit facility applicable to depositors of the deposit bank; (19/12/199S)
(3) the solvency of a credit institution, high customer risks, liquidity, internal control, risk management systems and the suitability and reliability of owners and management are not substantially different from the requirements of this law;
(4) the credit institution is sufficiently effectively controlled in its home country;
(5) in Finland, the credit institution shall have at least the amount set out in Section 4 (2) of Chapter 18 for activities carried out by a branch;
(6) the management of the branch is organised in accordance with sound and prudent business principles;
(7) the branch manager fulfils the requirements laid down in Section 4 of Chapter 7;
8) there are adequate procedures for identifying customers and preventing money laundering and terrorism.
Financial supervision shall issue a decision on authorisation within six months of receipt of the application or, if the application is incomplete, when the applicant has provided the necessary documentation and explanations for the purposes of the case. However, the decision on authorisation shall always be taken within 12 months of receipt of the application.
Financial supervision shall have the right, after consultation with the applicant, to impose restrictions and conditions necessary for the business of the branch. Financial supervision may, upon application, modify the conditions of the authorisation.
If the decision on authorisation has not been adopted within the period laid down in paragraph 1, the applicant may lodge a complaint. Complaints are made and processed, such as the complaint concerning the rejection of the application. Such a complaint may be lodged until the decision has been taken. Financial supervision shall inform the appeal authority if the decision has been issued following a complaint. Other aspects of the complaint and handling are governed by administrative law.
Financial supervision shall inform the European Commission, the European Banking Authority, the European Banking Committee, the Deposit Guarantee Fund and, where the branch provides investment services, the investor compensation fund.
Articles 26 and 27 of the Law on Financial Supervision are laid down in Articles 26 and 27 of the Law on Financial supervision. In addition, the financial supervision shall immediately withdraw the authorisation of the branch when the credit institution's authorisation has been withdrawn by the home state authority of a third-country credit institution.
The withdrawal of the authorisation shall be notified to the European Commission, the European Banking Authority, the European Banking Committee and the Deposit Guarantee Fund, as well as to the investor compensation fund, where a third country credit institution is a member of the Fund.
When financial supervision withdraws a branch authorisation, the branch of the branch shall be immediately terminated. The other law provides for the supervision of a branch, shall be subject to the control of the branch until the closure of the branch until the notification referred to in paragraph 2 has been made and the deposit of the branch is paid to the depositors.
After the cessation of the activities of its branch, the foreign credit institution shall inform its creditors and debtors that the debt or debt is based on an agreement made through a branch, how the debtor can terminate. After the termination of the contract, and the way in which the creditor is able to obtain a settlement on its outstanding claims. Financial supervision may provide more detailed provisions for the procedure referred to in this paragraph.
The provisions of this Article shall also apply to the restriction of the activities of the branch pursuant to Article 4 of this Chapter or Article 27 of the Law on Financial Supervision.
Where a third-country credit institution intends to open a delegation in Finland, it shall inform the financial supervision thereof. The notification shall include the address of the office of the delegation, the person responsible for the activities of the delegation and the nature and extent of the activity. Financial supervision may provide more detailed provisions on the content of the information referred to in this paragraph and on the notification procedure.
The representation shall not carry out the activities referred to in Section 1 of Chapter 5.
The delegation may commence its activities once it has made the notification referred to in paragraph 1.
Financial supervision may prohibit a delegation from continuing its activities in Finland if the notification referred to in Article 6 has not been made or the information contained in the notification is incorrect or incomplete or substantially breached The financial market provisions or regulations.
Article 5 (1) and (2) of Chapter 1 of Chapter 1 of the Investment Services Act provides for the application of the investment services to a foreign EEA credit institution providing investment services.
The third-country credit institution providing investment services for investment services is governed by Article 5 (3) of Chapter 1 of the Investment Service.
Membership of the foreign credit institution's branch of the investor compensation fund is governed by Articles 18 to 25 of Chapter 11 of the Investment Services Act.
A foreign credit institution is not allowed to take such a risk in its activities in Finland that it endangers the interests of the branch depositors. There should be adequate risk control systems in relation to its activities.
The liquidity of a branch of a foreign credit institution shall be sufficiently secured against the activities of the branch. In addition, the credit institution of the third country shall have at least EUR 5 million at least for the activities of the branch in Finland. The credit institution shall ensure that the branch is able to meet all its payment obligations in a timely manner. The credit institution shall, at the request of the financial supervision, set out the general principles of liquidity management adopted by the government of the credit institution or the responsible institution. The principles shall also indicate the manner in which the liquidity and the risks of the branch are controlled, taking into account the nature and extent of the branch's business.
Financial supervision shall monitor the liquidity and market risk of a branch of the foreign EEA credit institution in cooperation with the supervisory authorities of the institution.
The branch shall have adequate customer information systems in relation to its activities in order to enable the branch to continuously supply its customers with the information required by the law and the contract.
The third-country credit institution's branches shall be governed by Articles 10 and 11 of Chapter 5 the conditions for the outsourcing of the activities of the credit institution.
Financial supervision shall provide more detailed provisions for the calculation of the requirements laid down in paragraph 2.
Articles 16 and 17 of Chapter 5 provide for reservation and reimbursement of the costs incurred, including the branch of a foreign credit institution.
Paragraph 1 shall not apply to the branch of a foreign EEA credit institution in so far as the branch has, under the legislation of the credit institution's home state, ensured in exceptional circumstances the performance of its tasks in an equivalent manner, and Provided a sufficient explanation for the financial supervision.
Subject to the law, Section 9 of Chapter 1 and Articles 1 to 3 and 5 to 12 of Chapter 15 of Chapter 15 shall apply to branches of foreign credit institutions and to a foreign credit institution which, by the way, provides services within the meaning of Section 1 of Chapter 5.
For the purposes of applying this law to a foreign credit institution, the deposit shall also include repayable funds from the public which are to be replaced by a foreign deposit guarantee scheme.
A foreign credit institution shall state its name and home country in its marketing.
The professional secrecy of a branch of a foreign credit institution and a member of the staff of the delegation, the right to information and the breach of professional secrecy, as well as the knowledge of clients and the conduct of the mission's credit activities shall be governed by 15 Articles 14 to 18 and Article 4 of Chapter 21.
The branch and the delegation shall be entitled, notwithstanding Article 1 (1), to give the entity or the supervisory body of the credit institution they represent, and to the auditor of the credit institution they represent, the information provided or In the appropriate order to be notified.
A branch of a foreign credit institution shall disclose the financial statements and consolidated financial statements of the credit institution, the activity report and the group activity report and the statements of the auditors. They shall be published in Finnish or Swedish, unless the Financial Supervisory Board authorises them to publish them in any other language.
In addition to the financial statements, the Bank of Finland shall have the right to obtain the information from the foreign credit institution's branch that it has the right to obtain from credit institutions authorised in Finland. Financial supervision is governed by the Law on Financial Supervision.
A branch of a foreign credit institution shall be notified to the trade register. The notification of the notification shall be made by the trade register (129/1979) .
Notwithstanding the rest of the law, an EEA credit institution may carry out its activities in Finland with the same operating name as it has in its home country.
The Patents and Registration Board may require that the business name be made distinctly, provided that the business name does not clearly distinguish between the names of the holder of the right of preference or where there is a risk that it may be confused with the trade name or trade mark, To which one of the other has an earlier exclusive right in Finland.
The activities of a branch of a foreign credit institution shall be carried out by a branch manager who also represents a credit institution in its legal relationships with the activities of the branch.
The branch manager cannot be a legal person or a minor or who has been assigned a trustee whose viability is limited or bankrupt. The effect of the ban on business is laid down in the law on the business ban (1059/1985) .
The head of a branch of a third-country credit institution shall be governed by the provisions of Chapter 7 of the credit institution's Executive Director and the Executive Director.
The director of a branch of a third-country credit institution and any other potential operating officer shall be resident in Finland, unless financial supervision grants an exemption.
A summons or other service shall be deemed to have been transmitted to a foreign credit institution when it has been served on a person who has the right to represent the credit institution alone or jointly with another.
If no one of the representatives of a foreign credit institution referred to in paragraph 1 has been registered in the trade register, service may be effected by handing over documents to a person employed by the credit institution or, if not: To meet, in addition to the police authority of the credit institution's branch, Article 7 of Chapter 11 of the Court of Justice Paragraphs 2 to 4.
The head of a branch of a foreign credit institution shall be obliged to make good the damage he or she has done intentionally or negligently to the client or other person of the branch, by breaking the law or any other branch of the branch; The provision on action.
In the case of compensation for damages, and for the distribution of liability between two or more liable parties, the (412/1974) and Chapter 6 A.
Where a foreign credit institution has not paid a foreign credit institution in accordance with the deposit contract in accordance with the deposit agreement, the depositor may notify the financial supervision of the outstanding and non-disputed claims of the depositor in the Finnish branch.
Financial supervision shall, without delay, subject the notification referred to in paragraph 1 to the relevant foreign Deposit Insurance Fund or to the other Deposit Guarantee Authority. Financial supervision shall have the right to exercise, on behalf of the depositors referred to in paragraph 1, the deposit facility referred to in this paragraph or in another foreign authority.
For the purposes of this chapter:
(1) Reorganisation measures, A resolution or other measure intended to safeguard or restore the financial situation of a foreign credit institution, as referred to in a resolution of the Authority, and which may affect the third The rights of a person to the credit institution and the application and use of resolution tools and powers under the Resolution Directive; (19/12/199S)
(2) On the winding-up procedure A procedure based on the decision of the Authority, which is based on the decision to liquidate the assets of a foreign credit institution under the supervision of the Authority; the procedure for winding up the winding-up proceedings is also defined as: An allowance or an equivalent measure;
(3) The administrater The person or body designated by the authority responsible for the reorganisation measure;
(4) Liquidator The person or body designated by the authority responsible for carrying out the liquidation procedure.
A decision taken in accordance with the law of the foreign EEA credit institution to initiate a reorganisation measure or winding-up procedure for a credit institution shall also apply to a branch of such credit institution in Finland.
If the Ministry of Finance, the Bank of Finland or the Financial Supervisory Authority considers that the reorganisation measure for a branch of the foreign EEA credit institution should be initiated, they shall inform the supervisory authority of the home country of the credit institution. The notification shall be notified to the Financial Supervisory Committee.
The appointment of the administrator and liquidator of the foreign EEA credit institution shall be demonstrated by presenting a certified true copy of the original designation decision or by any other certificate issued by a credit institution's home state authority. A legally valid Finnish or Swedish translation may be required for a decision or certificate.
The administrator and the liquidator are entitled to exercise in Finland all the powers they are entitled to exercise in the home country of the foreign EEA credit institution. The administrator and the liquidator shall be entitled to use in Finland an assistant appointed in accordance with the legislation of the credit institution's home country.
In Finland, the administrator and the liquidator must comply with the Finnish law, in particular when converting assets into money and informing the employees of the procedure.
Where the initiation of a reorganisation measure or winding-up proceedings is entered in the register under Finnish law, the controller, the administrator, the liquidator or the relevant other authority of the home State of the foreign EEA credit institution, or The entry into the register of a reorganisation measure or winding-up proceedings referred to in Article 2 on the credit institution's request.
The property of a third-country credit institution may be transferred in Finland by a decision of the head of the branch. Before submitting an application, the credit institution shall inform the financial supervision thereof.
In the case of a creditor applying for a third country credit institution, the court of law shall immediately inform the financial supervision of the application. The court or tribunal shall postpone the proceedings for a period of up to one month if the financial supervision makes a request to that effect within one week of receipt of the notification referred to in this paragraph.
The financial supervision shall without delay notify the decision to initiate the bankruptcy referred to in Article 5 and the effect of the bankruptcy and the decision to withdraw the authorisation to the supervisory authorities of the EEA States to which the The credit institution of the country has established or provides services.
The financial supervision and the administrator shall cooperate with the relevant authorities and liquidators of the other EEA States to which a third country credit institution has established in the Official Journal of the European Union every year. The branch mentioned in the published list.
In the event of bankruptcy within the meaning of Article 5, the law applicable to the European Economic Area shall be governed by Articles 24a to 24k of the Act on commercial banks and other corporate credit institutions.
Financial supervision may suspend the activity of a branch of a third-country credit institution entitled to the receipt of deposits for a period of up to one month, if it is clear that the continuation of the activity would seriously damage financial stability, The smooth operation of payment systems or the interests of creditors. Financial supervision may, for specific reasons, take a decision to extend the suspension by a maximum of one month at a time, subject to a maximum period of six months after the adoption of the decision referred to in this paragraph.
Financial supervision shall immediately inform the oversight authorities of the other EEA States where the credit institution referred to in paragraph 1 has a branch. The notification shall accordingly be made to cease the suspension of operations.
The agent referred to in Article 5 of the Law on the temporary suspension of the operations of the deposit bank shall inform without delay the interruption of the activity in the Official Journal of the European Union. The notification shall accordingly be made no later than the expiry of the period specified in the suspension decision. At the same time, the notice of initiation shall state the purpose of the procedure, the applicable law, the time of appeal and the competent review authority. The suspension shall be valid irrespective of whether the notice has been published.
The suspensions are otherwise in accordance with Articles 1 to 3, Article 11 (1) and Chapter 5 of the Act suspending the operations of the deposit bank, except for the temporary suspension of the operations of the deposit bank, with the exception of 1 And 1a. The Law of the Ministry of Finance, which is governed by the law, concerns financial supervision accordingly. In addition to the suspension of the suspension decision and the suspension of suspension, financial supervision shall, in addition to the provisions of that law, consult the Ministry of Finance.
The decision to suspend the financial supervision referred to in Article 8 shall be subject to appeal against the decision of the Helsinki Administrative Court within 30 days of its publication in the Official Journal of the European Union. In other respects, the appeal is governed by Article 73 (1) and (2) of the Financial Supervisory Law.
The provisions and decisions referred to in Article 40 (1) of the Financial Control Act for which a penalty payment is subject to a penalty payment shall be:
(1) the provision of Article 9 (2) of Chapter 1 of this Act concerning the use of the term 'deposit' in marketing and the provision of Section 4 of Chapter 2 on the use of the word 'bank' in the activity or otherwise in operation;
(2) Article 1 of Chapter 5 of this Act concerning the commercial activity of the deposit bank and the provision of Article 2 on the business of the credit institution;
(3) Article 13 of Chapter 5 of this Act concerning the acquisition of control of a foreign undertaking;
(4) the provisions of Chapter 2, Section 3 (2) and Chapter 12 of this Act, Chapter 8 and Chapter 8 of the Cooperative Act, for the preparation and publication of the annual accounts, the activity report, consolidated financial statements and the interim report;
(5) the provisions of the Companies Act, the Cooperative Act and the Savings Banking Act concerning the settlement of the credit institution's merger, division and winding-up order, the credit institution's liquidation and bankruptcy, Chapter 20, In Chapter 6 of the Act on Commercial Banks and Other Shares Credit Institutions, Chapter 8 of the Savings Bank Act, Chapter 23 of the Cooperative Act, Chapter 7 of the Law on Credit Institutions and the Law on Credit Institutions The provisions of Chapter 5 of the Act;
(6) the provisions of Article 6 of Chapter 5 of this Act concerning the financing of the acquisition of financial instruments under own funds and the decision to limit the allocation of funds by virtue of Article 30 of the Financial Supervision Act;
(7) Article 11 of Chapter 15 of this Act on the maximum lending ratio;
(8) Article 4 (2) of Chapter 18 of this Act on the obligation of a branch of a third-country credit institution to retain in Finland the amount provided for in the article;
(9) the provisions of the Savings bank Act concerning the issuing of the parent-fund certificate, the option certificate, the Interim Certificate and the Certificate of Stocks, and the maintenance and maintenance of the list of shares and funds of the equity fund; The provisions of the Cooperative Act concerning the maintenance of a protocol to the minutes of a meeting of the cooperative or the representative of the assembly and the keeping of the list of members and owners, and the provisions of the Companies Act concerning the maintenance of the list of shares or shareholders and their To be seen, to be seen by the minutes of the general meeting And the provision of Chapter 18 (1) of the Companies Act concerning the notification to the company of the right to redemption and to the obligation to register.
The provisions and decisions referred to in Article 40 (1) of the Financial Supervision Act are, in addition to the provisions laid down in paragraph 1:
(1) Article 1 of Chapter 2 of this Act concerning the authorisation of credit institutions and Article 2 of the Act on the exclusive right of the credit institution to receive repayable funds and the decision taken pursuant to Articles 26 and 27 of the Law on Financial Supervision Cancellation or limitation of the withdrawal;
(2) Article 1 of Chapter 3 of this Act concerning the notification of the acquisition and transfer of shares and units and the decision taken pursuant to Article 32a of the Financial Supervision Act concerning the prohibition of the acquisition of a holding and Article 32c A decision limiting the rights deriving from shares and contributions;
(3) the provisions of Articles 1 to 5 and 6 (1) of Chapter 7 of this Law on the management and control system, the provisions of Articles 3 to 14 of Chapter 8, and the provisions of Sections 2 to 21 of Chapter 9 on risk management;
(4) Article 8 of Chapter 11 of this Act, the Law on credit institutions, the cooperative law, commercial banks and other credit institutions in the form of credit institutions, the cooperative banks and other cooperative credit institutions, Provisions of the law on mortgage associations to distribute the funds of the credit institution;
(5) Article 18 of Chapter 15 of this Act concerning customer knowledge;
(6) Articles 6 to 9 and 17 to 21 of the Law on the prevention and detection of money laundering and terrorist financing, Article 10, the provision of customer information, and Articles 23 and 24 of the notification requirement; (19/12/199S)
(7) Articles 1 to 3, 8 and 9 of Chapter 8a of the obligations of the credit institution and the consolidating group to draw up and verify the recovery plan in accordance with Article 3 and Article 4 (1) and the approval of the recovery plan of the consolidation group, Article 7 (3) of Chapter 9a. A provision concerning the notification to the authorities of the intention to provide financial assistance and the provision of Article 5 (a) (3) of Chapter 11 to the authorities. (19/12/199S)
The levy may not be imposed pursuant to paragraphs 1 (4), (5) and (9) and (2) (4) and (6), to non-credit institutions and to a company belonging to the same consolidation group and to the management of such a legal entity. The person whose duty or omission is contrary to his obligations.
The provisions referred to in Article 40 (1) of the Financial Supervision Act are, in addition to the provisions of paragraphs 1 and 2 of this Article, infringement or non-compliance with the following provisions of the EU Capital Requirements Regulation:
(1) the provision of Article 99 (1) concerning the notification of own funds requirements;
2) the provision of Article 101 on the notification of national property market information;
(3) the provision of Article 394 (1) on the notification of high customer risk information;
(4) the provisions of Articles 395 (1) and (3) to (8) on restrictions on major client risks;
(5) the provision of Article 405 concerning the transfer of credit risk associated with the securitisation;
(6) the provision of Article 412 on liquidity requirements;
(7) the provisions of Articles 415 (1) and (2) on the reporting of liquidity;
(8) Article 430 (1) disclosure of information on the leverage ratio;
9) The provisions of Articles 431 (1) to (3) and 451 (1) on disclosure requirements.
The provisions referred to in Article 40 (1) of the Financial Supervision Act are, in addition to the provisions laid down in paragraphs 1, 2 and 4 of this Article, more precise provisions concerning the provisions referred to in those provisions, provisions and a directive on credit institutions, The provisions of the resolution and the Commission regulations and decisions adopted on the basis of the EU Capital Requirements Regulation. (19/12/199S)
Article 6 has been repealed by L 23.10.2011. .
The imposition, publication, enforcement and handling of administrative penalties under market law are laid down in Chapter 4 of the Law on Financial supervision.
The founder of the credit institution, the Board of Directors or the Board of Directors and the Executive Director shall be obliged to compensate the credit institution responsible for the damage they have committed intentionally or negligently.
The founder of a credit institution, a member of the Board of Directors or a member of the Board of Directors and the Executive Director shall also be obliged to compensate the shareholder, the member of the shareholder, who is responsible for the damage they have committed intentionally or negligently to the shareholder. Or to the owner or any other person in breach of the EU Solvency Regulation, the regulations and decisions of the Commission adopted on the basis of the EU Capital Requirements Regulation or the Directive on credit institutions, this law or the regulation adopted pursuant to it Or the financial supervision order, commercial banks and other The law on credit institutions for credit institutions, the Law on savings banks, cooperative banks and other cooperative credit institutions, the law on mortgage lending, the law on mortgage associations, The law on the temporary suspension of the operations of the deposit bank or the statutes or rules of the credit institution. The statutory auditor's liability is laid down in the Audit Act.
Where the damage has been caused by a breach of the acts referred to in paragraph 2 or a provision of articles of association or rules, the damage shall be deemed to have been caused by negligence, unless the person responsible for the procedure has demonstrated its care. The same shall apply to the damage caused by a measure taken in the interest of the credit institution referred to in Article 13 of Chapter 15.
The shareholder of the credit institution, the host of the savings bank and the member of the cooperative and the representative of the credit institution shall be obliged to replace the damage they have contributed by contributing to the acts referred to in paragraph 2 or to the statutes of the credit institution or The credit institution, shareholder or member of the shareholder, or the owner, or any other person responsible for the breach of the rules on purpose or negligence. The damage caused by a measure taken in the interest of the credit institution referred to in Article 13 (13) of Chapter 15 shall be deemed to have been caused by negligence, unless a shareholder, a host or a member of a cooperative or a cooperative Have been carefully considered.
The settlement of damages and the distribution of liability between two or more liable parties shall be complied with. Chapter 2 and 6 of the damages law A.
For the purpose of bringing an action for damages against a credit institution, a savings bank or a cooperative credit institution, it is governed by the law on commercial banks and other corporate credit institutions, in the savings bank law, and The law on cooperative banks and other cooperative credit institutions.
The provisions of this Article shall also apply to a company belonging to the same consolidation group with the credit institution, where the damage has been caused by an infringement of this law or of a regulation adopted pursuant to it or a financial supervision order.
Every deliberate or gross negligence
(1) use the word 'deposit' or 'deposit' in contravention of Article 9 (2) of Chapter 1, or, contrary to Article 4 of Chapter 2, the word 'bank',
(2) carry out the activity of a credit institution in the absence of an authorisation pursuant to Section 1 of Chapter 2 or the withdrawal of the authorisation referred to in Article 26 of the Law on Financial Supervision or in accordance with Article 27 of the Law on Financial Control; Contrary,
(3) receive repayable funds against the public against the provision of Section 2 of Chapter 2; or
(4) in breach of Article 5 (1) of Chapter 5, in breach of the provisions of Article 2, or the provision of Article 2 to the credit institution for the operation of the credit institution;
Shall be condemned, if the act is not minor or otherwise provided for by law, For a credit institution Fine or imprisonment for a period not exceeding one year.
Every intention.
(1) Shares the assets of the credit institution or its undertaking belonging to the consolidation group in accordance with this Act, the Companies Act, the Cooperative Act, Commercial Banks and other Credit Institutions Act, cooperative banks and other cooperative forms; In contravention of the law on credit institutions, the savings bank law, the law on mortgage associations or the Financial Supervisory Act, or
(2) in breach of the provisions of Chapter 5 of Chapter 5 concerning the provision of a loan or guarantee, or the taking of shares, shares, capital loans, debentures or similar undertakings in Chapter 5;
Shall be condemned, if the act is not minor or otherwise provided for by law, Infringement of the credit institution's provisions on the allocation of funds Fine or imprisonment for a period not exceeding one year.
The penalty for breach of the obligation of professional secrecy laid down in Section 6 (1) of Chapter 7, Articles 14 and 17 of Chapter 15 and Article 7 of Chapter 18 of Chapter 18 Chapter 38 of the Criminal Code In accordance with Articles 1 and 2, unless an act is subject to a heavier penalty elsewhere in the law.
Financial supervision may prohibit the conduct, renewal or renewal of a proceeding contrary to this law, and at the same time oblige it to withdraw, amend or rectify the procedure if it is deemed necessary. To achieve the objectives of the supervision of financial markets.
Financial supervision may intensify compliance with the prohibition or decision referred to in Article 1. The penalty payment is laid down in the (1113/1990) .
This Act shall enter into force on 15 August 2014. This law repeals the law on credit institutions (121/2007) And transitional provisions.
With effect from the entry into force of this Act, a reference to the law on the activity of the repealed credit institution shall be construed as referring to the law.
The credit institution shall comply with the fixed capital requirement laid down in Article 3 (3) of Chapter 10 as from 1 January 2015.
Financial supervision may set a variable capital requirement within the meaning of Article 3 (4) of Chapter 10 not earlier than 1 January 2015. (19/12/199S)
For the purposes of the reduction of the items referred to in Article 36 (1) (i) of the EU Solvency Regulation, the provisions in force on the date of entry into force of this Act shall apply from 1 January 2016. Thereafter, the difference between the amount of the reduction to be calculated in accordance with the EU Capital Requirements Regulation and the reduced amount of the repealed credit institutions shall be taken into account by 25 % as from 1 January 2016, 50 % 1 From 1 January 2018, 75 % from 1 January 2018 and 100 % from 1 January 2019.
With effect from 1 January 2016, the additional capital requirement for a credit institution, as laid down in Article 7 (7), shall apply from 1 January 2016 to 25 % of that date, 50 % from 1 January 2017, 75 % from 1 January 2018 and 100 % from 1 January 2019. With effect from 1 January 2016, the additional capital requirement of a credit institution, as provided for in Article 8 (8) of Chapter 10, shall apply.
Articles 22 to 29 and 40 to 43 of the repealed Credit Institutions Act shall apply instead of Chaos 3 and 4 until the supervisory tasks relating to those provisions are transferred to the ECB in accordance with Article 33 (2) or (3) of the YVM Regulation.
Article 12 and 12 of Chapter 10 shall apply from 1 January 2015. The provisions in force at the time of entry into force of this Act shall apply to the information disclosed before the institution's financial statements and the financial statements.
The maximum variable remuneration provided for in Article 7 (3) of Chapter 8 and the decision-making procedure of the general meeting provided for in Article 8 (8) of Chapter 8 shall apply to variable remuneration which is due or earned after the entry into force of this law.
Article 11 of Chapter 15 shall apply from 1 July 2016.
The financial supervision provisions adopted pursuant to the repealed credit institution Act shall remain in force.
THEY 39/2014 , TaVM 6/2014, EV 62/2014, Directive 2013 /36/EU of the European Parliament and of the Council (32013L0036); OJ L 176, 27.6.2013, p. 338-436 Regulation (EU) No 575/2013 of the European Parliament and of the Council (32013R0575); OJ L 176, 27.6.2013, p. 1-337This Act shall enter into force on 1 January 2015.
This law repeals the deposit guarantee fund referred to in Article 1 (1) of Chapter 14 below: Old Deposit Insurance Fund . The duties of the old Deposit Guarantee Fund enter into force at the time of entry into force of this Act to the Deposit Guarantee Fund referred to in Chapter 5 of the Law on the Financial Stability Authority (hereinafter referred to as ' the Deposit protection fund .
After the entry into force of this law, the old Deposit Guarantee Fund shall apply:
(1) Article 3 (1) of Chapter 1 on supervision of financial supervision;
(2) Article 1 (1) of the repealed Chapter 14 of the obligation of the deposit bank to be part of a fund;
(3) Article 2 (1) of the repealed Chapter 14 of the Fund's rules and their adoption;
4. Article 3 of the repealed Chapter 3 of the Fund;
5. Article 6 of Chapter 14 of the repealed Fund;
6. Article 13 of Chapter 14 of the repealed Fund;
(7) Article 22 of Chapter 14, which is covered by the obligation of professional secrecy.
Paragraph 3 (2) shall apply only to deposit banks which are members of the Fund at the time of entry into force of this Act.
The provisions referred to in paragraph 3 shall apply to the extent that they do not conflict with the law on the Financial Stability Board. Those provisions shall apply until the old Deposit Guarantee Fund no longer has any assets and is unloaded. When the old Deposit Guarantee Fund is unloaded, its remaining obligations are transferred to the Deposit Guarantee Fund.
The funds of the old Deposit Guarantee Fund may be used by means of a decision of its delegation or government:
(1) to cover the annual coverage of the deposit liabilities of the affiliated credit institutions;
(2) the Deposit Guarantee Fund, other than those referred to in paragraph 1, from the members of the old Deposit Guarantee Fund;
3) to cover the costs of managing the Fund.
If the assets of the Deposit Guarantee Fund are not sufficient to cover the payment of reimbursable deposits or other Deposit Guarantee obligations, as provided for by the Law on the Financial Stability Board, the Financial Stability Board shall:
(1) shall, in accordance with Article 6 (1) of the Law on the Financial Stability Board, levy additional annual deposit guarantee fees;
(2) order the old Deposit Guarantee Fund to transfer funds to the Deposit Guarantee Fund if the payments referred to in paragraph 1 cannot be collected in a sufficiently rapid and secure manner;
(3) oblige the deposit banks to lend funds to the Deposit Guarantee Fund in accordance with Article 6 (2) of the Financial Stability Authority Act; or
(4) to lend to the Fund in accordance with Section 8 of Chapter 3 of the Law on the Financial Stability Board if the arrangements referred to in paragraphs 1 to 3 are not sufficient.
The old Deposit Guarantee Fund shall transfer the funds referred to in paragraph 6 to the Deposit Guarantee Fund in a manner determined by the Financial Stability Board, as specified in the Act on the Financial Stability Board or the Resolution.
The Ministry of Finance lays down the principles and methods for the use of the Fund's resources in favour of its members in the old Deposit Guarantee Fund.
The old Deposit Guarantee Fund shall, at the request of the Financial Stability Board, provide timely and comprehensive information on the investment activities of the Fund and shall cooperate closely with the Agency.
In the case of the old Deposit Guarantee Fund, recovery from a deposit bank which is not a member of the old Deposit Guarantee Fund when this Act enters into force is the amount that has been replaced by the deposit bank's deposits from the old Deposit Insurance Fund, or Have been used to cover the cost of the resolution in accordance with Article 14 of Chapter 5 of the Financial Stability Authority Act. The funds recovered from the deposit bank referred to in this paragraph shall be transferred to the old Deposit Guarantee Fund. The rate to be paid for the adjustment shall apply to the (633/1982) Articles 7 and 12 .
The guarantee claim referred to in paragraph 11 above shall have the same privilege as a deposit within the meaning of Article 5 of Chapter 5 of the Law on the Financial Stability Board, as referred to in Article 8 of the Law on the Financial Stability Board.
THEY 175/2014 , TaVM 20/2014, EV 191/2014, Directive 2014 /49/EU of the European Parliament and of the Council (32014L0049); OJ L 173, 12.6.2014, p. Directive 2014 /59/EU of the European Parliament and of the Council (32014L0059); OJ L 173, 12.6.2014, p. 190
This Act shall enter into force on 1 January 2016.
THEY 254/2014 , TaVM 34/2014, EV 371/2014
This Act shall enter into force on 26 November 2015.
THEY 11/2015 , TaVM 4/2015, EV 9/2015
