The Finland Deposit Guarantee Scheme (DGS) is overseen by the Finnish Financial Stability Authority (Rahoitusvakausvirasto) and serves to protect bank account holders in the event of a financial institution’s failure. The DGS ensures that depositors receive compensation up to the maximum coverage limit of 100,000 euros per depositor per bank. The need for deposit insurance arises from maintaining financial stability and ensuring public confidence in the banking system. By safeguarding depositor’s funds, it prevents potential bank runs, encourages investments, and contributes to overall economic stability.

The Finnish Financial Stability Authority operates under the Ministry of Finance and is responsible for managing the DGS. Its primary objective is to ensure that depositors are reimbursed within a predefined period, typically within 7 days, in case of a bank’s insolvency. The DGS is funded by Finnish banks and other deposit-taking institutions, which contribute to the Deposit Guarantee Fund (DGF) through regular, risk-based contributions. The DGF is a crucial financial safety net, which helps the DGS to maintain its operational capacity and fulfill its responsibilities when a member institution fails.

The organizational structure of the Finnish Financial Stability Authority consists of a Board of Directors, a Director General, and operational units. The Board of Directors is responsible for the overall strategic direction and governance of the organization. The Director General, appointed by the Board, manages the day-to-day operations, ensuring efficient implementation of the DGS.

Contact information for the Finnish Financial Stability Authority is as follows:

Address – Porkkalankatu 1, 00180 Helsinki, Finland;

Telephone – +358 295 253 500;
Email – [email protected];
Website –