March 17, 2020 / 8:03 AM / 12 days ago

Finnish banks' resiliency is higher than European average -Finnish FSA

HELSINKI, March 17 (Reuters) - Finnish banks’ capacity to withstand losses caused by sudden and severe disruptions in their operating environment is higher than the European average, the country’s financial supervisory authority said on Tuesday.

But the sharp weakening of economic activity caused by the epidemic will impact the liquidity of banks’ business and private customers “and thereby increase credit losses,” it said in a statement.

Reporting by Anne Kauranen; editing by John Stonestreet

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