Monetary policy counterparties operating in Finland may seek funding from the Bank of Finland against adequate collateral. There is access to longer-term credit via monetary policy operations and intraday credit to ensure smooth payment flows.
Like other national central banks in the euro area, the Bank of Finland accepts domestic and foreign securities and bank loans to euro area non-financial corporations and public sector entities as eligible assets. Uniform eligibility criteria are used for assets throughout the euro area. A list of eligible assets is available on the website of the European Central Bank (ECB).
No information is published on eligible bank loans; instead, the national central banks keep internal registers on bank loans used as collateral by counterparty banks. The Bank of Finland as well as other national central banks value collateral assets in accordance with instructions issued by the ECB.
The Bank provides its customers with collateral management services related to monetary policy operations and intraday credit. The use of collateral is described in more detail in the collection of rules entitled Bank of Finland rules for counterparties and customers. In addition, TARGET2 customer service and the analysis and collateral team advise their customers on the use of both domestic and foreign collateral.