Bank of Finland’s indicator targets and their achievement in 2021
I Influence and service capacity
Guiding principle
1. We create added value through expertise, insightful solutions and confidence-building cooperation.
Public survey on the Bank of Finland’s reputation and public confidence in the Bank
- Objective
- The survey will be carried out every second year.
- 12/2019
- –
- 12/2020
- –
- 12/2021
- New indicator
Stakeholder survey on the Bank of Finland’s effectiveness in regard to the strategic priorities
- Objective
- The survey will be carried out every second year.
- 12/2019
- –
- 12/2020
- –
- 12/2021
- New indicator
Guiding principle
2. We base our statements and decisions on knowledge, research and high-quality analysis.
Quality-weighted volume of research activities. Quality-weighted index of peer-reviewed articles.
- Objective
- ≥32
- 12/2019
- 52
- 12/2020
- 19
- 12/2021
- 56
Guiding principle
3. We participate in social discourse, reach our stakeholders and engage in constructive dialogue in Finland and the Eurosystem.
The visibility and effectiveness index of the Bank of Finland’s media output (Euro ja talous/Bank of Finland Bulletin media index)
- Objective
- ≥ 4
- 12/2019
- –
- 12/2020
- New indicator
- 12/2021
- 4.6
Objective 2: The Bank of Finland maintains price and financial stability in all circumstances.
Guiding principle
4. We provide advanced and reliable central bank services for the changing needs of Finnish society.
The quality of central bank services from the perspective of the users of the services. (Target services and collateral management, users of statistics and reporters, professional parties to currency supply.)
- Objective
- ≥ 95% of respondents satisfied
- 12/2019
- 98%
- 12/2020
- 98%
- 12/2021
- 98%
Consumer survey on access to cash and the condition of cash across society as a whole (weighted average).
- Objective
- ≥4 (on a scale of 1–5)
- 12/2019
- 4.1
- 12/2020
- 4.1
- 12/2021
- 4.1
Guiding principle
5. We ensure operational continuity by preparing for changes, disruptions and crises.
Reserve fund + reservations relative to the assessed balance sheet risks.
- Objective
- We accumulate reserves to achieve a sufficiently strong balance sheet under all circumstances.
- 12/2019
- EUR 6,066 million
- 12/2020
- EUR 6,686 million
- 12/2021
- EUR 6,807 million
Number of severe disruptions. Extensive disruptions or system disturbances to critical business operations affecting the Bank of Finland or the Financial Supervisory Authority and lasting longer than one hour.
- Objective
- 0
- 12/2019
- 0
- 12/2020
- 0
- 12/2021
- 0
Guiding principle
6. We develop our expertise and working practices on a long-term basis and with an eye to the future.
Our management index surpasses the outcomes of external peer groups.
- Objective
- 2019: ≥ 71.4; 2020: ≥ 71.7; 2021: ≥ 69.9
- 12/2019
- 70.8
- 12/2020
- 74.1
- 12/2021
- 73.4
Our job satisfaction index surpasses the outcomes of external peer groups.
- Objective
- 2019: ≥ 70.6; 2021: ≥ 71.5
- 12/2019
- 70.9
- 12/2020
- Measurement every second year
- 12/2021
- 73.6
Annual implementation of individual development plans
- Objective
- Over 80% of plans implemented well
- 12/2019
- 80%
- 12/2020
- 79%
- 12/2021
- 80%
Objective 3: The Bank of Finland promotes citizens’ wellbeing.
Guiding principle
7. We act responsibly and in accordance with the principles of sustainable development.
Carbon footprint, total emissions/operating expenditure of the Bank of Finland and the Financial Supervisory Authority
- Objective
- A downward trend
- 12/2019
- –
- 12/2020
- Calculation method changed to accord with internationally approved and recommended greenhouse gas (GHG) protocol.
- 12/2021
- 98 kg CO2/€1,000
Observance of the UN Principles for Responsible Investment
- Objective
- 2020: Reporting organised and implemented; 2021: Measurement calibrated
- 12/2019
- New indicator
- 12/2020
- Reporting organised and implemented
- 12/2021
- Measurement calibration incomplete
Minority gender as proportion of all management staff
- Objective
- Upward trend
- 12/2019
- 42%
- 12/2020
- 45%
- 12/2021
- 47%
Absences through sickness
- Objective
- < 3.5%
- 12/2019
- 2.4%
- 12/2020
- 1.7%
- 12/2021
- 2.1%
Guiding principle
8. We carry out our activities effectively and efficiently, maintaining stable profit distribution to the State without jeopardising the Bank’s capital adequacy.
Distributed profit
- Objective
- Stable distribution of profit to the State
- 12/2019
- EUR 188.0 million
- 12/2020
- EUR 100.0 million
- 12/2021
- EUR 26.3 million
Interest income plus the yield on investment assets above the 5-year average of the average central bank interest on the currencies in the currency reserve
- Objective
- > 0
- 12/2019
- New indicator
- 12/2020
- New indicator
- 12/2021
- Interest income 0.8%, yield on investment assets 2.4%
Combined person years of permanent, fixed-term and temporary staff
- Objective
- 2021: ≤ 385.5
- 12/2019
- 372
- 12/2020
- 364
- 12/2021
- 376
Aggregate departmental operational expenditure
- Objective
- 2021: ≤ EUR 66 million
- 12/2019
- EUR 56 million
- 12/2020
- EUR 55 million
- 12/2021
- EUR 58 million
Guiding principle
9. We promote citizens’ knowledge of the economy, the Bank of Finland and the Eurosystem by providing understandable information.
Implementing national coordination of financial literacy
- Objective
- Making progress in line with the action plan
- 12/2019
- New indicator
- 12/2020
- Implemented in line with action plan
- 12/2021
- Implemented in line with action plan
Time spent with the Bank of Finland’s Internet content
- Objective
- Average duration of visit ≥ 1 minute
- 12/2019
- –
- 12/2020
- New indicator
- 12/2021
- 1 minute 6 seconds
Engagement rate for social media posts (Twitter)
- Objective
- ≥ 3%
- 12/2019
- –
- 12/2020
- New indicator
- 12/2021
- 1.5 %