The Parliamentary Supervisory Council has designated Dr Olli Rehn as Deputy Chairman of the Board of the Bank of Finland and the Bank's Deputy Governor. Additionally, the Parliamentary Supervisory Council has appointed Marja Nykänen, LLM (trained on the bench), as member of the Board of the Financial Supervisory Authority with effect from 1 April 2018 and designated her as its Chairman.
The Board of the Bank of Finland, in turn, has decided on its new division of responsibilities. This decision was taken as the term of Deputy Governor Seppo Honkapohja ended on 31 December 2017.
The division of responsibilities reflects the Bank of Finland's core functions and processes. The processes carry out tasks in the areas of monetary policy preparation, monetary policy implementation, financial stability, domestic economic policy and digitalisation.
According to the new division of responsibilities, Governor Erkki Liikanen, Chairman of the Board, is responsible for monetary policy preparation, domestic economic policy, external communications, international affairs and internal audit. Governor Liikanen is a member of the Governing Council of the ECB.
Deputy Governor Olli Rehn takes on responsibility for monetary policy implementation, investment of the Bank of Finland's financial assets, market operations, payments, cash supply and the activities of the Management Group of the Bank of Finland's pension fund. He is also responsible for the Bank of Finland's IT function and the digitalisation process.
Member of the Board Marja Nykänen bears the responsibility for financial market issues, macroprudential policy, statistics, legal affairs, budget and personnel as well as security and property management issues. She is also responsible for the risk control of investment activities and monetary policy as well as the financial stability process.
For further information, please contact:
Jenni Hellström, Head of Communications, tel. +358 9 183 2632.