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Finnish insurance survey 2020: Customers happy with compensations and servicehttp://www.finanssiala.fi/en/news/Pages/Finnish-insurance-survey-20-customers-happy-with-compensations.aspxFinnish insurance survey 2020: Customers happy with compensations and service19.10.2020 10:07:00<div class="ExternalClassA8B559E49A17480AAD9F74362A39FCA0"><p>​<span style="font-size:18.2px;">The majority of insurance customers are happy with their insurance company’s claims handling process and compensation in the event of a loss or damage. This was one of the results in Finance Finland’s (FFI) Insurance Survey, which interviewed Finnish insurance customers on their opinions and experiences regarding insurances and social security.</span><br></p></div>1

 

 

Finnish Government's banking package proposal does not provide for economic growthhttp://www.finanssiala.fi/en/news/Pages/Finnish-government-proposal-for-banking-package-does-not-provide-for-economic-growth.aspxFinnish Government's banking package proposal does not provide for economic growth21.10.2020 8:07:00<div class="ExternalClass9E83ECF87E3F46BBB20A189A4462E639"><p>​<span style="font-size:18.2px;">Risk-lowering factors must also be taken into account when the supervisory authority evaluates whether a credit institution’s buffer requirement should be raised. This point of view is included in the Finnish government proposal on the national implementation of the EU banking package, which amends a number of essential directives and regulations. The Finnish government proposal involves significant problems, however: it gives authorities the power to raise the combined buffer requirement above the current maximum amount, which will throw a wrench in the wheels of the economy only starting to recover from the coronavirus crisis. The identification and quantification of risks in authorities’ decisions should also be subject to clearer requirements.</span><br></p></div>2

 

 

Banks and the National Bureau of Investigation ramp up their cooperation in anti-money launderinghttp://www.finanssiala.fi/en/news/Pages/Banks-and-the-National-Bureau-of-Investigation-ramp-up-their-cooperation.aspxBanks and the National Bureau of Investigation ramp up their cooperation in anti-money laundering9.10.2020 7:05:00<div class="ExternalClass378973AC572040149FE13F38E7010BB5"><p>​<span style="font-size:18.2px;">Finland’s National Bureau of Investigation (NBI) steps up its cooperative efforts with the Finnish banking sector to prevent money laundering. This public-private partnership aims to improve information exchange and anti-money laundering processes as part of the Finnish Government’s comprehensive action plan to tackle the grey economy and economic crime.</span><br></p></div>3

 

 

Finnish financial sector ups its climate action – major steps forward in one yearhttp://www.finanssiala.fi/en/news/Pages/Financial-sector-ups-its-climate-action-major-steps-in-one-year.aspxFinnish financial sector ups its climate action – major steps forward in one year23.9.2020 14:42:00<div class="ExternalClass51BB648999A4446BA5BBEB833274727F"><p>​<span style="font-size:18.2px;">Finnish financial sector companies have taken big leaps forward in their climate action. According to a member survey by Finance Finland (FFI), 95% of the respondent member companies take climate change into account in their investments. Nearly 90% take climate change into account also in their business operations.</span><br></p></div>4

 

 

EU General Court’s stern judgement: Decisions relating to banks must have clearly stated reasonshttp://www.finanssiala.fi/en/news/Pages/EU-General-Court’s-stern-judgement-Decisions-relating-to-banks-must-have-clearly-stated-reasons.aspxEU General Court’s stern judgement: Decisions relating to banks must have clearly stated reasons24.9.2020 14:18:00<div class="ExternalClassEAC6F2231B554B4391D6768A247B489F"><p>​<span style="font-size:18.2px;">The General Court of the European Union has annulled the SRB decision on the calculation of three German banks’ ex-ante contributions. The Single Resolution Board (SRB), an EU agency established in the context of the Single Resolution Mechanism (SRM) of the Banking Union, set the ex-ante contributions of about 3,500 credit institutions in 2017. Three German banks each brought an action for annulment on the SRB’s decision before the General Court. The General Court annulled the decision, stating that it did not contain an adequate statement of reasons for the amounts of the contributions.</span><br></p></div>5

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Raising capital requirements slows down economic recovery

Olli Salmi, 9 Oct 2020

Banks' capital requirements have been increasing since the financial crisis. The purpose of additional capital is to increase stability by reducing lending risk. A working group appointed by the Finnish Ministry of Finance has now proposed that the authorities should have the power to raise various additional capital requirements related to systemic risks by several percentage points. It could mean a reduction of tens of billions of euros in lending capacity, which does not align with the plans to help the economy recover after the coronavirus crisis.

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Capital markets – research on companies seeking alternative financing (updated rules in light of COVID-19)http://www.finanssiala.fi/en/statements/FFI_comments_11092020_EC_Capital_markets_research_on_companies_seeking_alternative_financing_COVID_19.pdfCapital markets – research on companies seeking alternative financing (updated rules in light of COVID-19)10.9.2020 21:00:00
FFI response to joint ESA consultation on ESG disclosureshttp://www.finanssiala.fi/en/statements/FFI_consultation_response_28082020_ESA_FDR_RTS_ESG_disclosures.pdfFFI response to joint ESA consultation on ESG disclosures27.8.2020 21:00:00
Consultation on the renewed sustainable finance strategyhttp://www.finanssiala.fi/en/statements/FFI_response_08072020_EC_Consultation_on_renewed_sustainable_finance_strategy.pdfConsultation on the renewed sustainable finance strategy7.7.2020 21:00:00

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Construction with green finance helps against climate changehttp://www.finanssiala.fi/en/news/Pages/Construction-with-green-finance-helps-against-climate-change.aspxConstruction with green finance helps against climate change30.10.2020 14:12:1023.10.2020 13:02:00
Finnish Government's banking package proposal does not provide for economic growthhttp://www.finanssiala.fi/en/news/Pages/Finnish-government-proposal-for-banking-package-does-not-provide-for-economic-growth.aspxFinnish Government's banking package proposal does not provide for economic growth21.10.2020 8:19:3421.10.2020 8:07:00
Finnish insurance survey 2020: Customers happy with compensations and servicehttp://www.finanssiala.fi/en/news/Pages/Finnish-insurance-survey-20-customers-happy-with-compensations.aspxFinnish insurance survey 2020: Customers happy with compensations and service19.10.2020 10:19:4919.10.2020 10:07:00
Banks and the National Bureau of Investigation ramp up their cooperation in anti-money launderinghttp://www.finanssiala.fi/en/news/Pages/Banks-and-the-National-Bureau-of-Investigation-ramp-up-their-cooperation.aspxBanks and the National Bureau of Investigation ramp up their cooperation in anti-money laundering9.10.2020 8:06:199.10.2020 7:05:00
Raising capital requirements slows down economic recoveryhttp://www.finanssiala.fi/en/news/Pages/Raising-capital-requirements-slows-down-economic-recovery.aspxRaising capital requirements slows down economic recovery9.10.2020 5:33:379.10.2020 5:00:00
Sustainability-linked financing must have clearly defined goalshttp://www.finanssiala.fi/en/news/Pages/Sustainability-linked-financing-must-have-clearly-defined-goals.aspxSustainability-linked financing must have clearly defined goals26.10.2020 12:19:266.10.2020 11:04:00