Systemic risk buffer requirement set to MuniFin
Municipality Finance Plc
Stock exchange release
30 March 2023 at 10.00 am (EEST)
Systemic risk buffer requirement set to MuniFin
On 29 March 2023, the Finnish Financial Supervisory Authority (FIN-FSA) has, in accordance with the sections 4a and b, Chapter 10 of the act on Credit Institutions, set a systemic risk buffer requirement of 1.0 per cent to MuniFin. The decision will take effect on 1 April 2024, and it is equivalent to the requirements set to other Finnish banks at the same time.
MuniFin clearly meets all capital requirements set to it.
MUNICIPALITY FINANCE PLC
Esa Kallio
President and CEO
tel. +358 50 337 7953
MuniFin (Municipality Finance Plc) is one of Finland’s largest credit institutions. The owners of the company include Finnish municipalities, the public sector pension fund Keva and the Republic of Finland. MuniFin Group also includes the subsidiary company, Financial Advisory Services Inspira Ltd. The Group’s balance sheet totals close to EUR 48 billion.
MuniFin builds a better and more sustainable future with its customers. MuniFin’s customers include municipalities, joint municipal authorities, wellbeing services counties, corporate entities under their control, and non-profit organisations nominated by the Housing Finance and Development Centre of Finland (ARA). Lending is used for environmentally and socially responsible investment targets such as public transportation, sustainable buildings, hospitals and healthcare centres, schools and day care centres, and homes for people with special needs.
MuniFin’s customers are domestic but the company operates in a completely global business environment. The company is an active Finnish bond issuer in international capital markets and the first Finnish green and social bond issuer. The funding is exclusively guaranteed by the Municipal Guarantee Board.
Read more: www.munifin.fi
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