News

International cooperation in financial supervision has taken on new dimensions says Kilvar Kessler

Chair of the Management Board of Finantsinspektsioon, Kilvar Kessler, presented the 2018 annual report of Finantsinspektsioon to the Riigikogu on 16 May 2019.

Presentation of the Annual Report of Finantsinspektsioon for 2018 by Chair of the Management Board Kilvar Kessler

Honourable President of the Riigikogu, Distinguished Members of the Riigikogu.

We are presenting the annual report of Finantsinspektsioon in accordance with the Financial Supervision Authority Act. The annual report covers the main events, trends and actions in the Estonian financial market and in financial supervision in 2018.

Finantsinspektsioon published an overview of the Estonian financial sector in Q4 2018

Yearly growth in the loan portfolio of banks operating in Estonia increased in 2018 from 5% in the third quarter to 5.7% by the end of the fourth quarter. This was driven particularly by yearly growth of 6.2% in loans to private customers, 80% of which were housing loans, where growth over the year was 6.5%.

Nordic and Baltic financial supervisors enhance cooperation to fight money laundering

Heads of the Nordic and Baltic financial supervisors met today in Stockholm. They agreed on measures to enhance the cooperation between the authorities with the aim of fighting money laundering and terrorist financing.

The activity licence of Talveaed AS has been withdrawn

On 29 April 2019 Finantsinspektsioon withdrew from AS Talveaed its licence to operate as a payment institution and its additional licence because of serious and long-term breaches of legal requirements.

Finantsinspektsioon has not breached Union law, continues its successful work on AML

The European Banking Authority (EBA) has closed its investigation into a possible breach of Union law by the Estonian Financial Supervision and Resolution Authority (Finantsinspektsioon) and the Danish Financial Services Authority (Finanstilsynet) in connection with money laundering activities linked to Danske Bank and its Estonian branch in particular.