News

Finantsinspektsioon has withdrawn the operating licence from GFC Good Finance Company AS

Finantsinspektsioon withdrew the operating licence as a payment institution from GFC Good Finance Company AS on 27 May 2019 for serious breaches of the law. Finantsinspektsioon also cancelled its identification code as a payment institution.

Finantsinspektsioon is asking the market for its opinion on financial innovation

Finantsinspektsioon is mapping the landscape of financial innovation in Estonia over the next two weeks, asking market participants for input on possible ways of using financial technology, and the related problems and possible solutions.

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.