Finland Selected Issues

This Selected Issues paper summarizes Nordea’s operations and business model; the macroeconomic and prudential implications of the move; and policy responses taken so far. The IMF staff’s assessment is that banking supervision in the euro area has improved significantly following the creation of the...

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Bibliographic Details
Corporate Author: International Monetary Fund European Dept
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2019
Series:IMF Staff Country Reports
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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300 |a 13 pages 
651 4 |a Finland 
653 |a Economic & financial crises & disasters 
653 |a Depository Institutions 
653 |a Banks 
653 |a Finance 
653 |a Bank resolution framework 
653 |a Financial crises 
653 |a Banks and banking 
653 |a Bank resolution 
653 |a Financial sector policy and analysis 
653 |a General Financial Markets: Government Policy and Regulation 
653 |a Micro Finance Institutions 
653 |a Deposit insurance 
653 |a Crisis management 
653 |a Financial Institutions and Services: Government Policy and Regulation 
653 |a Mortgages 
653 |a Systemic risk 
653 |a Financial risk management 
653 |a Banks and banking; State supervision 
653 |a Banks and Banking 
653 |a Financial regulation and supervision 
653 |a Banking 
653 |a Financial Risk Management 
653 |a Financial services law & regulation 
653 |a Finance: General 
653 |a Liquidity requirements 
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520 |a This Selected Issues paper summarizes Nordea’s operations and business model; the macroeconomic and prudential implications of the move; and policy responses taken so far. The IMF staff’s assessment is that banking supervision in the euro area has improved significantly following the creation of the Single Supervisory Mechanism, which should mitigate potential risks from Nordea’s move; meanwhile, the Nordic authorities have done much, in conjunction with the European Central Bank, to ensure that potential gaps and fragmentation across national jurisdictions are avoided. The resolution framework is designed to prevent taxpayers having to bail out banks, but is new, and work on building the crisis preparedness of euro area banks is still under way. The banking union is not yet complete, details of the backstop for the Single Resolution Fund need to be finalized and a common euro area deposit insurance should be made fully operational. At the same time, Nordea is also operating in non-euro area member states—maintaining cooperation between euro area and noneuro area institutions remains important