Lag om ändring av lagen om andelsbanker och andra kreditinstitut i andelslagsform | 704 — Finland law | Esheria

Lag om ändring av lagen om andelsbanker och andra kreditinstitut i andelslagsform

At least one founder, one board member, and the managing director of a credit institution must be resident in the EEA, unless the Financial Supervisory Authority grants an exemption.

AI-assisted research synopsis — verify against the official legal text below.

Jurisdiction
Finland
Instrument
Act or statute
Citation
704
Version
Undated source snapshot
Language
sv
Official source
View official record ↗
capital adequacy financial institution supervision group governance liquidity liquidity management membership requirements merger procedure regulatory exemptions residency requirements risk management

Statute overview

About this statute

At least one founder, one board member, and the managing director of a credit institution must be resident in the EEA, unless the Financial Supervisory Authority grants an exemption. The provision defines which entities make up the banking association and sets governance and supervision rules for the central institute and member credit institutions. The central institute and the credit institutions belonging to it must ensure their consolidated liquidity is secured under Chapter 7 of the credit institutions act. Central institutions, member credit institutions, and group entities must not take excessive risks, and they must have adequate risk control systems. If a creditor opposes a merger, the register authority must request the Financial Supervisory Authority’s opinion, and it may still grant implementation permission if the stated conditions are met.

Available versions

  • Undated version · current

    fi

  • Undated version · current

    sv