News

1302.23

Index funds are increasingly popular with second pillar pension savers

Shareholders had signed a total of 583,225 contracts with second pension pillar funds at the end of last year, which was 6% fewer than a year previously. The most departures were from actively managed funds, while the number of contracts with index funds rose.

1302.23

Deposit interest rates are not rising as fast as loan interest rates

The banks operating in Estonia paid interest of 0.06% a year on money held by households on accounts as demand deposits both in the second quarter of 2022 and at the end of the year. The average interest rate on a housing loan was 1.91% in the middle of the year however, and 3.48% at the end of the year.

3001.23

Finantsinspektsioon is monitoring the risks from the increase in stock exchange transactions

As the number of transactions on the stock exchange rose last year, so did the number of notifications submitted to Finantsinspektsioon about dubious trades in the securities market. Finantsinspektsioon received 64 notifications about suspicious transactions in 2021, but last year it received 69.

2301.23

The rapid growth in deposits in Estonia has ended

Bank deposits in Estonia have been growing by as much as 20% a year in recent years, but last year the growth in them was only 1%. The total deposits held by banks operating in Estonia were 177 million euros larger at the end of 2022 than they were a year earlier at 28.1 billion euros.

1801.23

Four Estonian banks will come under supervision of the European Central Bank from January

The European Central Bank (ECB) will from January exercise supervision over 113 important banking groups in Europe it announced today. Those banks will include four Estonian banks, which are Swedbank, SEB Pank, Luminor and LHV.

1801.23

Finantsinspektsioon fined OÜ Koduliising

Finantsinspektsioon fined OÜ Koduliising (registry code 14571396) 21,000 euros for a misdemeanour, as the company did not send Finantsinspektsioon its updated plan for recovering its financial position within the time allotted.