Municipality Finance Plc
Stock Exchange Release
May 7, 2015 at 11:30 (CET +1)
European Central Bank to conduct a comprehensive assessment of Municipality Finance Plc
Due to the systemic significance of Municipality Finance Plc, the European Central Bank ECB has started a comprehensive assessment of its operations. The examination of Municipality Finance’s resilience and positions consists of an asset quality review and a forward-looking stress test.
The comprehensive assessment is a process related to the ECB’s Single Supervisory Mechanism. The assessment is conducted of Europe’s largest financial institutions. Last year the assessment was conducted for the first time of a total of 130 European financial institutions. This year nine new organisations are facing the tests due to their estimated increased systemic significance. The comprehensive assessment is to be completed by the end of 2015.
At the end of 2014, Municipality Finance was Finland’s third largest credit institution with a balance sheet of 30 billion euros.
MUNICIPALITY FINANCE PLC
Executive VP, Deputy to the CEO, Head of Capital Markets
Tel. +358 50 3377 953