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Financial companies feed Finland's economic growthhttp://www.finanssiala.fi/en/news/Pages/Financial-companies-feed-Finland's-economic-growth.aspxFinancial companies feed Finland's economic growth11.12.2017 18:18:00<div class="ExternalClassE4FBE4153E594350BBE507C2792AFA5B"><p>​Financial companies are important engines in driving Finland’s economic growth, shows the Research Institute of Finnish Economy Etla’s recent report which assesses how different-sized businesses influence Finland’s gross domestic product and export. According to the report, two of the three most influential companies were financial companies.</p></div>1

 

 

The financial sector’s capital position remains stronghttp://www.finanssiala.fi/en/news/Pages/The-financial-sector’s-capital-position-remains-strong.aspxThe financial sector’s capital position remains strong14.12.2017 11:35:00<div class="ExternalClassA461C30C11F448AC9AAE4EB1489B59DB"> <p class="MsoNormal" style="margin-bottom:0.0001pt;line-height:normal;"><span lang="EN-GB" style="font-size:12pt;font-family:"times new roman", serif;">The Finnish banking sector’s capital position is significantly stronger than the European average, shows the Finnish Financial Supervisory Authority’s (FIN-FSA) press release. According to information from the end of September, the banking sector has a strong capital position and the insurance sector a good solvency position.</span></p></div>4

 

 

Money soon transferred in secondshttp://www.finanssiala.fi/en/news/Pages/Money-soon-transferred-in-seconds.aspxMoney soon transferred in seconds9.12.2017 18:06:00<div class="ExternalClassFE819D4BD8864A72AF4A933F4732C3BC"><p>​The European instant payments scheme was launched in November 2017 and will be adopted by Finnish banks in stages in 2018. In the Single Euro Payment Area (SEPA), the newly introduced SEPA instant credit transfer scheme (SCT Inst) makes funds available on the beneficiary’s account within ten seconds of the transaction – 24/7/365, even across borders.</p></div>5

 Recent Statements in English

 

 

Public consultation on the operations of the European Supervisory Authoritieshttp://www.finanssiala.fi/en/statements/Public_consultation_on_operations_of_ESAs.pdfPublic consultation on the operations of the European Supervisory Authorities15.5.2017 21:00:00
NSA response to ESMA MiFID II consultation on product governance draft guidelineshttp://www.finanssiala.fi/en/statements/NSA_response_to_ESMA_MiFID_II_consultation_on_product_governance_draft_guidelines.pdfNSA response to ESMA MiFID II consultation on product governance draft guidelines4.1.2017 22:00:00
Consultation on Product Information Documenthttp://www.finanssiala.fi/en/statements/FFI_answer_24102016_Consultation_on_Product_Information_Document.pdfConsultation on Product Information Document23.10.2016 21:00:00

 News

 

 

Season's greetingshttp://www.finanssiala.fi/en/news/Pages/Seasons_greetings_2017.aspxSeason's greetings13.12.2017 13:51:3015.12.2017 6:00:00
The financial sector’s capital position remains stronghttp://www.finanssiala.fi/en/news/Pages/The-financial-sector’s-capital-position-remains-strong.aspxThe financial sector’s capital position remains strong14.12.2017 11:38:4514.12.2017 11:35:00
Financial companies feed Finland's economic growthhttp://www.finanssiala.fi/en/news/Pages/Financial-companies-feed-Finland's-economic-growth.aspxFinancial companies feed Finland's economic growth11.12.2017 13:54:0611.12.2017 18:18:00
Money soon transferred in secondshttp://www.finanssiala.fi/en/news/Pages/Money-soon-transferred-in-seconds.aspxMoney soon transferred in seconds9.12.2017 18:11:409.12.2017 18:06:00
Insurers share climate riskshttp://www.finanssiala.fi/en/news/Pages/Insurers-share-climate-risks.aspxInsurers share climate risks7.12.2017 14:10:117.12.2017 13:56:00
Customer needs to take centre stage in insurance saleshttp://www.finanssiala.fi/en/news/Pages/Customer-needs-to-take-centre-stage-in-insurance-sales.aspxCustomer needs to take centre stage in insurance sales15.11.2017 17:42:3515.11.2017 17:25:00

 Column

Global solvency regulations align with the European system

Inna Aaltonen, 23 November 2017

When the International Association of Insurance Supervisors (IAIS) announced in December 2014 that it is preparing global insurance capital regulations, Europe responded with concern. Would the new regulations cause changes to the carefully prepared Solvency II framework? Luckily, these concerns seem to have been in vain: insurers who apply the Solvency II requirements will automatically also meet the global requirements..