See Financial Integration in the Nordic-Baltic Region—Challenges for Financial Policies, IMF, 2007.
Multinational firms also re-entered the international capital market in 2009.
Companies are allowed to borrow from their employee pension fund up to the amount of their contributions and up to a maximum fraction of assets of the fund. These loans must carry a bank guarantee or other collateral.
Nordea Bank Finland Group and OP Pohjola Group are Aa2 while Sampo Bank Group and Aktia are A1.
It should be noted that Nordea Bank Finland is the booking center for all derivative transactions of the Nordea Group.
This will require first to construct longer time series of individual bank data using observations available since 1996.
Some financial soundness indicators such as NPL ratios are published quarterly in the FIN-FSA website, but there is no single table of core financial soundness indicators.
FIN-FSA already has cross-border cross-sectoral cooperation arrangements in place to discuss banking and insurance supervisory issues for two financial groups. It has also developed internal processes to integrate the supervision of these groups.
Since the 2001 FSAP, the Helsinki Stock Exchange (HEX) has been acquired by NASDAQ OMX and subsequently renamed into NASDAQ OMX Helsinki (NASDAQ). The primary responsibility for supervision of the securities markets in Finland resides with FIN-FSA, in which the Markets Supervision Department is responsible for the supervision of NASDAQ, the clearing corporation and the central securities depositary, as well as for supervising information disclosure and financial reporting of publicly quoted companies. Stock and derivative exchanges, clearing houses, central counterparty clearing houses (CCPs) and the central securities depository (CSD) are authorized by the Finnish Ministry of Finance (MOF).
There are three major payment systems operating in Finland (a) BOF TARGET2 component system (TARGET2-Suomen Pankki system); (b) the POPS inter-bank system for express transfers and checks (POPS); and (c) the PMJ system for retail payments (PMJ). Furthermore, in December 2008 a license for payment transmission was granted to ACH Finland Plc (ACHF). Replacement of the POPS and PMJ systems in the next few years with the Euro Banking Association STEP2 system (which is subject to Eurosystem oversight) for the processing of national payments is currently under consideration.
Securities settlement is performed by the EFi (Euroclear Finland, formerly Finnish Central Securities Depository, (APK) Securities Settlement System, comprising of the APK settlement system for equity rated securities (OM) and the APK settlement system for non equity rated securities (RM). Both OM and RM operate on a continuous and real-time basis.