FIN-FSA Annual Report 2021: State of the financial sector has remained good, but global economic outlook is affected by many uncertainties
The state of the financial sector has remained good also in the second year of the COVID-19 pandemic, but risks related to the pandemic and economic developments are still elevated. The FIN-FSA has maintained enhanced monitoring of the risk position of the supervised entities as well as analysis of the development of the COVID-19 pandemic and its economic impacts.
"Europe has woken up to a new reality after Russia's invasion of Ukraine. At the same time, hybrid influence and cyber attacks are an increasingly serious threat to society. Many uncertainties are impacting the global economic outlook", writes FIN-FSA Director General Anneli Tuominen in her review.
"In this uncertain situation, the importance of good and sound risk management is – once again – underlined in the financial sector, whether it concerns the credit or market risks of banks, the risk management of employee pension companies’ investment activities or cyber risk preparedness."
The FIN-FSA's Annual Report discusses, among other things, the state of the financial sector, the adaptation of supervision to the evolving operating environment, and significant themes of the review year:
- Crypto assets attract investor interests – risks to be reined in through regulation
- New investors, new sources of information
- New tools needed to contain household indebtedness
- Sustainability issues as part of financial market participants’ risk management and disclosure obligations.
The Annual Report was published as a website, and it will also be published in Swedish and English later in the spring.
For further information, please contact
FIN-FSA Communications, tel. +358 9 183 5030 (weekdays 9.00–16.00).
Read the reports
- Annual Report 2021 website (in Finnish)
- The FIN-FSA Board’s report to the Parliamentary Supervisory Council 2021 (pdf, in Finnish)