The Bank of Finland is responsible for the management according to the European Central Bank’s instructions of the foreign reserves it has deposited with the ECB. Management of the ECB’s foreign reserves has been distributed among the Eurosystem national central banks. At the end of 2010, the Bank of Finland and the Bank of Estonia agreed on joint management of the ECB’s foreign reserves following Estonia's accession to Economic and Monetary Union from the beginning of 2011. Finland and Estonia's common share of foreign reserves is denominated in US dollars, and the Bank of Finland manages it in cooperation with the Bank of Estonia.
In the management of the above reserves, security and liquidity objectives are key, since the primary purpose of the reserves is to ensure sufficient resources for any foreign exchange interventions potentially conducted by the Eurosystem. At the end of 2016, the value of Finland and Estonia's combined share of foreign reserves, denominated in the US dollar, stood at around EUR 1,087 million.