FIN-FSA survey into the impacts of the reference rate reform on credit institutions
(WorldNews Finland)

Supervision release 11 December 2019 - 68/2019 The Financial Supervisory Authority (FIN-FSA) has mapped how reforms concerning reference rates will affect credit institutions supervised by the FIN-FSA and what kind of preparations have been made for these reforms as well as exceptional circumstances which may be involved. According to the credit institutions, any impacts of the reforms on contractual relationships are minor. However, the responses received imply clear differences across banks in the level of preparedness for the reference rate reform. In addition, customer communications leave room for improvement. Not all oncoming changes had been adequately taken into account in credit...