The Bank of Finland develops financial markets by promoting interaction and cooperation between Finnish financial market participants. In doing so, the Bank aims at ensuring the design of effective and transparent technological solutions, standards and regulation, especially at international level.
The Bank of Finland contributes to the development of financial markets eg through participation in committees and working groups that prepare financial market legislation. Another channel for the Bank to influence legislation is the issuance of opinions on legislative proposals. Promotion of sound competition and ensuring a level playing-field in regulation for all market participants are key principles for improvement of efficiency.
The Bank also maintains formal and informal contacts with national and international authorities at different levels of competence
domestically and
internationally. These discussions provide the Bank of Finland with an opportunity to state its own views on topical and envisaged
projects for development and express its own opinions on development needs.
Development work includes readiness exercises in financial markets, the purpose of which is to test the preparedness of financial market participants for
crisis situations. These exercises are aimed at developing capabilities for addressing potential crisis situations that may affect the financial system, and are organised in concert with other financial sector authorities and market participants.