The Bank of Finland’s mandate for the collection of data is based on Council Regulation (EC) No 2533/1998 (as amended by Regulation 2015/373) concerning the collection of statistical information by the European Central Bank, and on the Act on the Bank of Finland (214/1998, sections 26 and 28). The Bank of Finland, Financial Supervisory Authority and Statistics Finland collaborate in a permanent cooperation group known as ʽVirati, aimed at minimising the reporting burden on reporting institutions.

The collected statistical data are used for the purposes of the European System of Central Banks (ESCB) and the Bank of Finland, to meet the statistical needs of international organisations and for national purposes. The FIN-FSA has the right to use the collected data for supervisory purposes if the reporting unit is a supervised entity of the FIN-FSA. Data from credit institutions may also be used for the purposes of the Single Supervisory Mechanism. In addition, the minimum reserve requirements of credit institutions are calculated on the basis of the collected statistical data.

Collection of statistical data from monetary financial institutions (MFIs) is based on the Regulation of the European Central Bank (ECB) concerning the balance sheet of the monetary financial institutions sector, the Regulation of the ECB concerning statistics on interest rates and the Regulation of the ECB concerning statistics on holdings of securities. In addition, data collection from MFIs is governed by the July 2019 Guidelines of the Bank for International Settlements (BIS). MFIs comprise the Bank of Finland, deposit banks, other credit institutions and money market funds. Credit-specific information is also collected from credit institutions based on the Regulation European Central Bank on the collection of granular credit and credit risk data. 

Collection of statistical data on investment funds is based on the Regulation of the ECB concerning statistics on the assets and liabilities of investment funds and the Regulation of the ECB concerning statistics on holdings of securities. The reporting obligation concerns investment funds, private equity funds and real estate funds registered in Finland. Data on money market funds are also collected within the same data collection framework as data on investment funds, although money market funds are classified in statistics in the MFI sector.
 
The Bank of Finland collects data on securities-based assets and liabilities of selected reporting institutions. The reporting institutions comprise custodians, non-financial corporations, financial and insurance corporations, households and general government entities. These data are collected on the basis of the Regulation of the ECB concerning statistics on holdings of securities.
 
Bank of Finland collects data on credit institutions and payment transaction societies for the purposes of payment statistics. These statistical requirements are based on the Regulation of the ECB on payment statistics.
 
Life and non-life insurance companies are governed by the Regulation of the ECB on statistical reporting requirements for insurance corporations. These statistical data are largely obtained from solvency information collected by the Financial Supervisory Authority (solvency II data).
 

Supplementary pension funds are governed by the Regulation of the ECB on statistical reporting requirements for pension funds. These statistical data are obtained from data collected by the FIN-FSA.

MFIs are subject to daily reporting of money market transactions. These data are collected on the basis of the Regulation of the ECB concerning statistics on the money markets. The reporting obligation concerns only the largest MFIs. MFIs operating in Finland submit data directly to the ECB.
 
In addition to Regulations, statistical data collections are governed by the ECB Guideline on monetary and financial statistics, the ECB Guideline on the procedures for the collection of granular credit and credit risk data, the ECB Guideline on the statistical reporting requirements of the ECB in the field of external statistics, the ECB Guideline on government finance statistics, the ECB Guideline on statistics on holdings of securities and the ECB Guideline on the Register of Institutions and Affiliates Data.