Bank of Finland

From Wikipedia, the free encyclopedia

You have new messages (last change).
The Bank of Finland, Helsinki, with the statue of Johan Vilhelm Snellman in front.
Enlarge
The Bank of Finland, Helsinki, with the statue of Johan Vilhelm Snellman in front.

The Bank of Finland (Finnish: Suomen Pankki, Swedish: Finlands Bank) is the Central bank of Finland. It is the fourth oldest Central Bank in the world.

Contents

[edit] History

The Bank of Finland was established on March 1 in 1812 in the city of Turku by Alexander I of Russia as the fourth Central bank in the world. In 1819 it was relocated to Helsinki. However, it wasn't officially formed[citation needed] until Finland gained independence in 1917. The Bank created and regulated the Finnish Markka until Finland adopted the Euro in 1999.

[edit] Functions and ownership

The Bank of Finland is Finland’s central bank and a member of the European System of Central Banks. It is Finland's monetary authority, and is responsible for the country's currency supply and foreign exchange reserves.

The Bank of Finland is owned by the Republic of Finland and governed by the Finnish Parliament, through the Parliamentary Supervisory Council and the Board of the bank. The Board is responsible for the administration of the bank, and the Parliamentary Supervisory Council for supervising the administration and activities of the bank and for other statutory tasks. The bank is governed under the provisions of the Act on the Bank of Finland, passed in 1998.

The bank has regional offices in Helsinki-Vantaa, Kuopio, Tampere, Oulu, and Turku.

[edit] Organisation

The highest official in the bank is the Governor (currently Erkki Liikanen). The Governor chairs the Board.

[edit] Members of Board of the Bank of Finland

  • Erkki Liikanen, Governor
  • Matti Louekoski, Deputy Governor
  • Sinikka Salo
  • Pentti Hakkarainen

[edit] Former Governors

[edit] Parliamentary Supervisory Council

  • Mari Kiviniemi, Chair
  • Jouni Backman, Vice Chair
  • Jyri Häkämies
  • Arja Alho
  • Janina Andersson
  • Sirkka-Liisa Anttila
  • Timo Kalli
  • Jyrki Katainen
  • Martti Korhonen

[edit] See also

[edit] External links

Retrieved from "http://en.wikipedia.org../../../b/a/n/Bank_of_Finland_f54c.html"
In other languages