Bank Of Finland

The Bank of Finland ( of Finland .

HISTORY

The Bank of Finland has dates back to 1811 , but it was not officially formed until Finland gained Independence in 1917 . The Bank created and regulated the Finnish Markka until Finland adopted the Euro in 1999 .

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 .

ORGANISATION

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

Members of Board of the Bank of Finland