Talletussuojarahaston

Talletussuojarahasto, known in English as the Deposit Guarantee Fund of Finland, is a statutory fund established to protect depositors when a credit institution operating in Finland becomes insolvent. It forms part of Finland’s framework for financial stability and consumer protection, aiming to ensure prompt reimbursement of insured deposits and to maintain confidence in the banking system.

The fund provides coverage up to 100,000 euros per depositor per credit institution. This protection applies to deposits held in banks and other institutions authorized to accept deposits in Finland, including the Finnish branches of foreign banks. Covered deposits typically include savings accounts, current accounts, and term deposits, while certain investments and other non-deposit products are not protected.

Funding and administration operate through annual contributions paid by member institutions, determined by their size and risk profile. The fund is managed by a governance board with representation from member banks and independent members, and it functions under Finnish law in line with EU requirements. In the event of a bank’s insolvency, the fund is responsible for paying compensation to eligible depositors up to the statutory limit, in accordance with applicable law and directive.

Relation to the EU and oversight: The Finnish Deposit Guarantee Fund works within the EU Deposit Guarantee Scheme and implements the directive that sets the 100,000 euro guarantee level. Depositors obtain protection through their bank, and payouts are initiated and managed as part of the resolution process, with details provided by the bank or the fund if a payout is triggered.