The Parliamentary Supervisory Council has designated Seppo Honkapohja as Vice-Chairman of the Board and deputy governor. The Parliamentary Supervisory Council has also appointed Dr Olli Rehn as a member of the Board of the Financial Supervisory Authority and designated him as its Chairman.

The Board of the Bank of Finland has decided on its new division of responsibilities, which enters into force with immediate effect. This decision was taken as the third term of Deputy Governor Pentti Hakkarainen ended and Marja Nykänen (LLM, trained on the bench) and Olli Rehn take up their duties as Board members on 1 February 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 and domestic economic policy. In addition to these, a new process concentrating on digitalization has been launched.

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 Seppo Honkapohja, Vice-Chairman of the Board, is responsible for the Bank of Finland's scientific research and currency supply. When the Governor is unable to attend, Deputy Governor Honkapohja will be his alternate at meetings of the Governing Council of the ECB.

Member of the Board Marja Nykänen is responsible for financial market issues, macroprudential policy, statistics, legal affairs, budget and personnel. In addition, the risk control of investment activities and monetary policy fall within her area of responsibility.

Member of the Board Olli Rehn takes on responsibility for monetary policy implementation, investment of the Bank of Finland's financial assets, market operations and payments. He is also responsible for the Bank of Finland's digitalisation process. Marja Nykänen will bear the responsibility for the financial stability process.

For further information, please contact Jenni Hellström, Head of Communications, tel. +358 10 831 2632.

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