Reporting instructions
The Bank of Finland collects statistical data from financial market participants and other authorities. The data collected are used to perform the tasks of the European System of Central Banks (ESCB) and the Bank of Finland, for meeting the statistical requirements of international organisations, and for other national needs.
The data are used, among other things, in the implementation and analysis of monetary policy, in the monitoring and analysis of financial stability, in banking supervision, research, and the compilation of financial accounts and balance of payments statistics. The minimum reserve requirements of credit institutions are calculated on the basis of the data. Aggregate statistics are primarily produced from the data collected.
Processing of confidential data
The Bank of Finland may disclose confidential statistical data only in cases permitted by legislation, for example for the tasks of the European System of Central Banks, for financial supervision, the production of statistics, and scientific research. The authorities receiving the data are obliged to protect it against unauthorised use.
Cooperation between authorities
The Bank of Finland, the Financial Supervisory Authority, Statistics Finland and the Financial Stability Authority cooperate with the aim of minimising the reporting burden on reporting entities by collecting data in a cost-effective manner and by promoting the exchange of data between authorities.
This work is also carried out at the European level in the JBRC (Joint Bank Reporting Committee), whose objective is further to promote the integration of statistical, supervisory and resolution reporting. The Bank of Finland, the Financial Supervisory Authority and the Financial Stability Authority are represented in the JBRC.
Data collection in the European System of Central Banks
The European Central Bank (ECB) collects data on behalf of the Bank of Finland from the largest monetary financial institutions operating in Finland, for example on money market transactions and on securities holdings of groups. The Bank of Finland’s powers to collect statistical data are based on the legislation listed below. In addition, each reporting instructions page presents the data-collection-specific instructions and the regulation on which the data collection is based.
Compliance with the reporting obligation
The ECB may impose sanctions on undertakings that fail to comply with their obligations based on ECB regulations or decisions.