Bank of Finland rules for counterparties and customers

This collection of rules comprises the key agreements, regulations and guidelines in respect of the Bank of Finland's counterparties and customers. The Bank of Finland may issue additional rules and guidelines that are not included in this collection.  Other regulations and decisions issued by the European Union and the European Central Bank are also binding on counterparties and customers.

The collection of rules is divided into three parts: 1) rules concerning monetary policy operations and collateral, 2) model agreements (for information) and 3) rules concerning the TARGET-Suomen Pankki system. 

The Bank of Finland has the right to change its rules in the manner prescribed in agreements concluded between the Bank of Finland and its counterparties and customers. The changes are published by updating the rules in this collection.


Rules on monetary policy operations and collateral
  1. Guideline (EU) 2015/510 of the European Central Bank of 19 December 2014 on the implementation of the Eurosystem monetary policy framework (recast) (ECB/2014/60). This Guideline and the following amendments thereto, points 1. - 11., are combined into an unofficial consolidated Guideline.
    1. (EU) 2015/732 of 16 April 2015, (ECB/2015/20)
    2. (EU) 2015/1938 of 27 August 2015, (ECB/2015/27) and corrigendum to Guideline (EU) 2015/1938 of the ECB of 27 August 2015
    3. (EU) 2016/64 of the European Central Bank on 18 November 2015, (ECB/2015/34)
    4. (EU) 2016/2298 of 2 November 2016, (ECB/2016/31)
    5. (EU) 2017/1362 of 18 May 2017,  (ECB/2017/12)
    6. (EU) 2018/570 of  7 February 2018, (ECB/2018/3)
    7. (EU) 2019/1032 of 10 May 2019, (ECB/2019/11).
    8. (EU) 2020/1690 of 25 September 2020, (ECB/2020/45)
    9. (EU) 2021/889 of 6 May 2021, (ECB/2021/23).
    10. (EU) 2022/987 of 2 May 2022, (ECB/2022/17)
    11. (EU) 2023/831 of 16 December 2022, (ECB/2022/48).

  2. Guideline (EU) 2016/65 of the European Central Bank on 18 November 2015 on the valuation haircuts applied in the implementation of the Eurosystem monetary policy framework (ECB/2015/35).  This Guideline and the following amendments thereto, points 1. -7., are combined into an unofficial consolidated Guideline.
    1. (EU) 2016/299, of  2 November 2016, (ECB/2016/32)
    2. (EU) 2018/571, of 7 February 2018, (ECB/2018/4)
    3. (EU) 2019/1033, of 10 May 2019, (ECB/2019/12).
    4. (EU)2020/506) of 7 April 2020, (ECB/2020/20).
    5. (EU) 2020/1692) of 25 September 2020, (ECB/2020/46). 
    6. (EU) 2022/988 of 2 May 2022, (ECB/2022/18)
    7. (EU) 2023/832 of 16 December 2022, (ECB/2022/49).

  3. Guideline of the European Central Bank (EU) 2015/528, of 9 July 2014 on additional temporary measures relating to Eurosystem refinancing operations and eligibility of collateral and amending Guideline ECB/2007/9 (recast) (ECB/2014/31).  This Guideline and the following amendments thereto, points 1. -10., are combined into an unofficial consolidated Guideline.
    1. (EU) 2014/870, of 19 November 2014, (ECB/2014/46) 
    2. (EU) 2016/2300, of 2 November 2016, (ECB/2016/33)
    3. (EU) 2018/572, of 7 February 2018, (ECB/2018/5)
    4. (EU) 2019/1034, of 10 May 2019,  (ECB/2019/13).
    5. (EU) 2020/515, of 7 April 2020, (ECB/2020/21).
    6. (EU) 2020/634, of 7 May 2020,(ECB/2020/29).
    7. (EU) 2020/1691, of 25 September 2020, (ECB/2020/47)
    8. (EU) 2021/975, of 2 June 2021, (ECB/2021/26)
    9. (EU) 2022/989 of 2 May 2022, (ECB/2022/19)
    10. (EU) 2023/833 of 16 December 2022, (ECB/2022/50).


  4. Implementation of monetary policy operations and collateral management at the Bank of Finland

TARGET-Suomen Pankki RULES 

  1. TARGET-Suomen Pankki rules
  2. Guideline  of the European Central Bank (EU) 2022/912 of 24 February 2022, on a new-generation Trans-European Automated Real-time Gross Settlement Express Transfer
    system (TARGET) and repealing Guideline 2013/47/EU (ECB/2012/27) (ECB/2022/8)
    1. (EU) 2022/2250, of 9 November 2022, (ECB/2022/39)
    2. (EU) 2023/2415, of 7 September 2023, (ECB/2023/22)

Model agreements (for information)