Decision making

​FIN-FSA Board is responsible for macroprudential policy decisions. Decisions are drafted in broad cooperation between authorities, and FIN-FSA consults with the Bank of Finland, the Ministry of Finance and the Ministry of Social Affairs and Health prior to taking such decisions. In addition, FIN-FSA consults with financial sector representatives regarding the principles it applies to the designation of systemically important credit institutions at national level and the disclosure of such information.

Decisions on the activation of macroprudential instruments are taken on a quarterly basis, as the use of certain macroprudential tools (imposition of a countercyclical capital buffer requirement, chapter 10, section 4 of the Credit Institutions Act) so requires and as indicators and data underlying macroprudential analysis are normally updated quarterly. In the case of O-SII scores and risk weights under Articles 124 and 164, the criteria for the activation must be established and the related decisions made at least once a year.

The Credit Institutions Act and the rationale for the Act emphasise the role of broad cooperation between authorities in order to ensure that all aspects related to the use of macroprudential instruments are taken into account. As a further safeguard, the Bank of Finland and the Ministry of Finance are entitled to require, at any time, that the FIN-FSA Board should discuss the setting or changing of the countercyclical capital buffer requirement. Likewise, the European Systemic Risk Board may issue a recommendation or warning that is important for the Finnish financial markets and needs to be dealt with by the FIN-FSA Board.

FIN-FSA notifies the European Commission, the European Systemic Risk Board (ESRB), the European Banking Authority (EBA) and the relevant macroprudential authorities of other Member States of its pending macroprudential decisions, to be made in compliance with the prudential regulations, one month prior to the publication of the decisions. In this same connection, the ECB is also notified unofficially of such decisions.

The FIN-FSA must also consult the ECB with respect to those macroprudential instruments that are governed under common EU legislation.

In accordance with Chapter II Article 5 of the SSM Regulation1 and Part VIII of the SSM Framework Regulation2, when a national macroprudential authoritiy intends to activate a macroprudential tool it is required to notify its intention to the ECB ten working days prior to taking such a decision. The national macroprudential authority must also inform the ECB as early as possible of potential macroprudential or systemic risks to the financial system and to specify the details of the intended macroprudential tool. If the ECB objects to the intended measure it shall state its reasons to the national authority within five working days after the day of receipt of the notification of the intended measure. The national authority must duly consider the ECB’s reasons when deciding whether to activate the intended macroprudential tool.

This procedure also applies in reverse when the ECB intends to use a macroprudential tool on its own initiative. In such a case the ECB must notify the national authority of its intention according to the same procedures and duly consider the national authority’s views prior to taking a decision.

Use of exceptional powers under Article458 of the CRR requires decision making that deviates from the standard procedures and consultation not only with the ECB but more widely among EU authorities.

1 Council regulation (EU) No 1024/2013 conferring specific tasks on the European Central Bank concerning policies relating to the prudential supervision of credit institutions, Chapter II, Article 5. 
2 Regulation (EU) No 468/2014 of the European Central Bank establishing the framework for cooperation within the Single Supervisory Mechanism between the European Central Bank and national competent authorities and with national designated authorities (SSM Framework Regulation), Part VIII.

FIN-FSA’s macroprudential decisions
Period Date of decision Countercyclical capital
buffer (CCB)
Maximum loan to value (LTV) ratio for housing loans (loan cap) Articles 124 and 164 of Capital Requirements Regulation: risk weights for loans secured by mortgages on immovable property

Article 458 of the Capital Requirements Regulation: stricter national measures to address macroprudential or systemic risk

​​G-SII or O-SII buffers, i.e. buffers for global or other systemically important banksSystemic risk buffer requirement imposed on the basis of the structural characteristics of the financial system


26 September 2018

Set at 0.0 %









​29 June 2018








​Set at 0.0 %








G-SII buffer set for Nordea on a conditional basis, in force 1 January 2020.

Additional capital requirement (O-SII buffer) set for three credit institutions on a conditional basis, in force 1 January 2019.

​A systemic risk buffer set for three credit institutions at a higher level and for other credit institutions at 1%, in force 1 July 2019.









​19 March 2018/
28 March 2018


Set at 0.0 %





​Maximum LTV lowered to 85 % for others than first time home buyers. In force 1 July 2018.




​​Systemic risk buffer rate of 1 % set by Eesti Pank resiprocated to be applied to balance sheet items located in Estonia as of 1 January 2019.







21 December





​Set at 0.0 %





​Not introduced





​Conditional decision regarding minimum risk weight




​​Additional capital requirement (O-SII buffer) set for four credit institutions, in force 1 July 2018.



​27 June 2017

​Set at 0.0 %

​Not introduced

Conditional decision regarding minimum risk weight



​28 March 2017​Set at 0.0 %​Not introduced​Preparations ongoing
​21 December 2016​Set at 0.0 %
Not introduced
​Preparations ongoing

27 September 2016

​Set at 0.0 %
​Not introduced
​Preparations ongoing
​Q2/2016​14 June 2016​Set at 0.0 %​Not introduced​Preparations ongoing
​Q1/2016​22 March 2016​Set at 0.0 %​Not introduced​Not applied
21 December 2015Set at 0.0 %
Not introduced
Not applied
​​29 September 2015​Set at 0.0 %
​​Not introduced
​​Not applied






​6 July 2015





​Additional capital requirement (O-SII buffer) set for four credit institutions, in force 7 January 2016.



30 June 2015


Set at 0.0 %

​Not introduced

​Not applied



​16 March 2015
​Set at 0.0%
​Not introduced
​Not applied

FIN-FSA press releases




26 September 2018

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