Regulatory setting and division of functions

Regulatory setting and organisational division of functions

Organisational division of functions

Under the Constitution of Finland, the Government may borrow funds based on the consent of the Parliament. The consent must indicate the maximum level of the new borrowing or debt. The Parliament has authorised the Government to raise funds, provided that the nominal value of central government debt does not exceed EUR 125 billion and that at the time of borrowing the value of short-term debt  with original maturity not exceeding 12 months may constitute at most EUR 18 billion of the total debt.

The Parliament has further authorised the Government to borrow short-term loans at its discretion in order to safeguard State liquidity and to enter into derivative contracts required in connection with managing the risks of the central government debt.

The Ministry of Finance as a part of the Government has authorised the State Treasury to implement the central government borrowing in accordance with the parliamentary consent  and to enter into derivative contracts required in connection with managing the risks of the central government debt in accordance with the further guidelines of the Ministry of Finance.

The Ministry of Finance provides the State Treasury with guidelines on debt management and oversees their implementation. The guidelines set out general principles and objectives of debt management, debt instruments, risk limits and other restrictions. The State Treasury reports regularly on debt management to the Ministry of Finance.

Parliamentary Resolution on Amending the Council of State Borrowing Authority 810/2014
(Available only in Finnish and Swedish)

Published 2015-01-01 at  8:00 , updated 2017-03-05 at  10:03
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