Finanssivalvonta

FIN-FSA issues recommendation to supervised banks to refrain from dividend distributions - yesterday evening the ECB published a corresponding recommendation to banks under its direct supervision

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On 27 March 2020, the European Central Bank (ECB) published a recommendation to banks to refrain from dividend distributions until 1 October 2020. The ECB recommendation urges national supervisors to apply corresponding principles for credit institutions under their own supervision.

On 28 March 2020, the Financial Supervisory Authority (FIN-FSA) decided to issue a recommendation to credit institutions under its supervision to refrain from dividend distributions until 1 October 2020. The details of the recommendation will be specified in a supervision release to be issued on 30 March 2020.

The recommendation aims to ensure the ability of Finnish banks to support the real economy with funding to businesses and households in order to alleviate the impacts of the economic crisis caused by the coronavirus pandemic.

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The corresponding Finnish-language press release was published on 28 March 2020.

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Contacts

For further information, please contact Anneli Tuominen, Director General of the Financial Supervisory Authority.

Requests for interviews are coordinated by FIN-FSA Communications, tel. +358 9 183 5030, weekdays 9.00–16.00.

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Finanssivalvonta
Finanssivalvonta
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09 183 51https://www.finanssivalvonta.fi/

Finanssivalvonta, or the Financial Supervisory Authority (FIN-FSA), is the authority for supervision of Finland’s financial and insurance sectors. The entities supervised by the authority include banks, insurance and pension companies as well as other companies operating in the insurance sector, investment firms, fund management companies and the Helsinki Stock Exchange. We foster financial stability and confidence in the financial markets and enhance protection for customers, investors and the insured.

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